It’s pretty cool people have something to talk about an hour Nostr and not just zaps

that has literally nothing to do with what happened here. you are being distracted by a laser pen.

back in the day we just called this fascism

Inflation ends empires; so it’s a simple incentive structure.

We need to stop this dangerous misinformation immediately. How do I contact the board of Nostr?

ok

When Twitter users were screaming that printing money to fund catastrophic Covid lockdowns would lead to inflation, the mainstream media laughed it off.

Jack Dorsey tweeted inflation was coming. They mocked him.

Now we have seen rates spiking at unprecedented levels, and chaos has ensued. Central bankers, politicians, and media companies must be held accountable for the systemic failure of governance that has led us to this point.

The chaos we are seeing now is the sum of many acts of weakness and corruption.

• Theft through inflation.

• Media narrative control.

• Propaganda to drive demand for pharma companies and compliance to government.

• Censorship of dissenting voices.

• Fractional reserve banking.

• “Legal” counterfeiting by central banks.

• Gross government overreach.

• Rampant Covid hypocrisy by the rich and powerful.

• And finally, the sin of submission by people who were too apathetic to stand up for their rights and the rights of their neighbours.

To those seeking justice, progress, and the preservation of freedom in the wake of the last few years, Thank You.

To those who said nothing, “in the end we will remember not the words of our enemies, but the silence of our friends.”

Pura Vida.

🟣🟠

What is with all these billionaire fund manager begging the Fed to bail them out of the SVB liquidity crunch?

Moral Hazard continues until it doesn’t.

I don’t wanna get too ahead of myself but we may be about to see a major public reckoning on what on earth banks even are and what they are supposed to do.

SVB didn’t go down due to “the tech bubble” or really anything to do with “banking Silicon Valley” being a bad idea. if anything, it’s a great idea! Their deposits went up ~2.5x in 2 years because there was a shit load of cash that needed to be banked! (debate separately to what extent that was a ZIRP phenomenon. I’m not saying this was good in the grand scheme of things. just that, in context, it was good business).

the problem is what to put the money in. most nocoiners seem to think that their deposits just sit there “as money,” and although I’m sure they don’t imagine notes in a vault, exactly, to a large extent that was true for SVB: they held treasuries - the “risk free” asset lmfao - which is as close to cash as you can get in a liquid security.

the conundrum here is that there literally is no such thing as “liquid dollars” - there is only credit. all dollar assets are somebody else’s debt. for all intents and purposes, treasuries *are dollars*. the idea of “keeping it in cash” at the relevant magnitudes is literally nonsensical. what would it even mean? deposit it at *another bank*? that hardly solves the problem!

the further you tug at this thread, the more you realise that dollars can only really be defined as vacuous promises by the US government to … one day give you slightly more dollars?!? that realisation is now getting aired in public.

I think the first consequence as this starts to sink in will be a massive preference for shorter term debt that can just be rolled over and over and over because the lesson of SVB is the duration sensitivity is absolutely not worth it. you can literally evaporate hundreds of billions of dollars by getting that just a little wrong even though you didn’t have much of a choice (“RISK FREE ASSET” LOLOLOLOLOLOL) this is yet another example of fiat driving up time preference and corrupting the information signals necessary to coordinate long-term capital investment. but oh well, the currency is collapsing so we have bigger fish to fry than the yield of long-dated bonds 😂

but the juicy bit is that we may be on the cusp of this reasoning, and the insanity of fractional reserve and central banking, finally being aired in public as people try to make sense of all this.

or maybe not, I dunno. maybe I’m naive. but I’m also bullish 🤙

What a 24 hours it's been, and it still doesn't top FTX day in November:

- Ether a security

- 30% tax proposed on bitcoin mining

- Silvergate, dead

- Another big bank, dead

Me, a crypto person: bored, unstimulated, hoping for more.

Buy solar panels: 30% tax break

Use that electricity to mine Bitcoin: 30% tax penalty

Welcome to 🇺🇲

We’re three years out from covid so I feel like I can say this: If you are wearing a probably manufactured in China piece of felt on your face, let alone in your car, there’s something else going on with you.

First of all, those masks in particular have been LONG PROVEN to not do anything to help you or others avoid covid. They do not filter small enough particulates to be effective.

Second of all, you are alone in your vehicle. What the actual fuck are you doing?

Third of all, if you’re that deep in down the covid rabbit hole you’re probably quadruple vaccinated or something. Why do you still need any mask?

If your response is that the vaccines don’t prevent the spread of covid and further admit they don’t prevent you from getting covid (both inarguably proven AND admitted by the pharmaceutical companies) then why do you continue getting them?

What’s going on?? Truly. At this point it’s like Stockholm syndrome meets virtue signaling. Your mask might be blue or white but I see a red flag square on the center of your face that says STUPID.

IT’S BEEN THREE YEARS.

Thank you for coming to my TED Talk.

I enjoy zerohedge but holy cow it dominates my feed when I follow it here.