As this banking crisis unfolds it is important to remember the root cause; the Federal Reserve. @parkeralewis reminds us that the fiat monetary system is doomed for failure because there is too much debt and not enough dollars.
QE5 started yesterday. The problem will only be exacerbated from here and the only solution is a bitcoin standard.
https://tftc.io/tftc-podcast/403-dissecting-the-banking-crisis-with-parker-lewis/
Putting his money where his mouth is…
https://twitter.com/balajis/status/1636827051419389952?s=48&t=OzghTlfqy01cYrZiMTE4xA
Your 24yo, sitting in a risk chair at any bank in the world….. you have two outcomes after taking reckless amounts of risk with other peoples money;
1. You win - paid a $5m bonus, set for life.
2. You lose - get fired.
What would you do?
The land of 🐑 picked 2% out of thin air don’t forget…….
https://www.reuters.com/markets/mouse-that-roared-new-zealand-worlds-2-inflation-target-2023-01-30/
GN - wonder if CS will still be alive in the morning?
This is a must listen….. Caitlin Long and Custodia is going to bring the 🔥
*Credit Susie found “material weakness” in financial reporting
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Don’t trust, verify.
“Silicon Valley Bank failed just 14 days after KPMG LLP gave the lender a clean bill of health. Signature Bank went down 11 days after the accounting firm signed off on its audit.
What KPMG knew about the two banks’ financial situation and what it missed will likely be the subject of regulatory scrutiny and lawsuits. “
https://www.wsj.com/articles/kpmg-faces-scrutiny-for-audits-of-svb-and-signature-bank-42dc49dd
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Can’t make this stuff up….. meme world continues!
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Very good point - taking that view, why would it matter if they pause in March…. As you said same net outcome for the banks? Will be fascinating either way…… narrative needs to develop.
More interesting where does 5y USA CDS open?
So the Fed has your back on deposits to infinity….. just park as much cash as possible with the highest yield possible. 🤡 world continues.
GS just pulled their March hike. No hikes for you!
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