Just another day in fiat world.
TD's stock is the most shorted banking stock globally.
Is TD safe? If their US division gets rekt, how much will it impact the rest of the company?
https://void.cat/d/H7TZqEZEwc6RSfCgji7bau.webp
Image credit: nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
In terms of size by total assets, they are relatively comparable to other banks that failed - First Republic Bank and SVB.
Financial Post wrote an article a couple of days ago:
"On average, deposits at the four Canadian banks with significant U.S. divisions slipped by three per cent quarter over quarter, according to a May 1 note..."
"Toronto-Dominion Bank was hit the hardest with a quarter-over-quarter drop in deposits at five per cent, driven by an 18 per cent decline in sweep deposits, or accounts that move excess funds between a chequing account to a higher interest-earning account, since last quarter"
Of the Canadian banks with the most at risk, TD seems to be the leading candidate. This does not bode well for the Canadian banking sector.
https://financialpost.com/fp-finance/banking/crisis-hits-canadian-bank-deposits-us-td-worst
“Many countries in Latin America will be adopting #Bitcoin. El Salvador is the first, but we know that many other countries in the region are starting to look towards it." - nostr:npub1excellx58e497gan6fcsdnseujkjm7ym5yp3m4rp0ud4j8ss39js2pn72a
In its weekly industry recap, Reuters highlights adoption in Turkey and Argentina.
I like the approach of countries getting cozy with Bitcoin but I am skeptical about Argentina. Their relationship to the IMF, through constant bailouts, leads me to believe there will be more harsh terms in the next bailout.
The question remains is how long will they be friendly with the IMF? Ultimately they will need to turn their back on them.
A reminder that Canada produces less than 2% of global carbon emissions. If Canada were to stop function as a country and revert to the stone age, it would have a negligible impact on the overall carbon footprint. In fact, that move be offset in a year or two by China & India.
Real estate is a shitcoin for some.
Plus renting gives flexibility that is lost when owning a home.
#Privacy enhancement tipps:
Get a new sim card without leaving your identity. (e. g. https://silent.link)
Get a PO Box address and use it.
Stop using Google, Facebook and Microsoft products.
Use Mullvad VPN and pay for it anonymously, delete all other VPN apps and cancel all other VPN services.
Use https://organicmaps.app instead of Google or Apple maps.
Get KYC free #Bitcoin (HodlHodl, Bisq, Robosats, Peachbitcoin).
Get used to Coinjoins and Payjoins. (e. g. Joinmarket).
Don’t use credit cards with your name/data attached. Prefer to pay cash or Lightning.
Use Cashu (https://cashu.space).
Organics Maps is grest.
I would also suggest to people to ditch the iPhone or stock Android. Get a Pixel and install GrapheneOS.
All this talk about a $1 trillion platinum coin...
"The result is a coin made of $60 billion of pure platinum that weighs about 500,000 pounds, and, if it had the same proportions as a quarter, would be 10.5 yards in diameter and a little over two feet tall. Not exactly pocket change." Source: https://qz.com/41604/how-big-would-a-1-trillion-platinum-coin-be
The article is from January but the price of platinum is roughly the same. They would need to mint some 16.7 coins at 500,000 pounds each to reach $1 trillion in value.
What's the point of minting a "coin"? Any chance of anchoring the USD to a hard asset won't work. Even a fractional reserve would erode over time as the government continually runs deficits.
Paper platinum won't work in the 21st century.
This is all just lip service that will lead to nowhere.
Agreed. Connect your Sparrow, Ledger Live or whatever to your node and fly under the radar.
Teach a friend to run a node. Independence is priceless.
BRICS continues to expand its sphere of influence.
Western governments lack of a reaction is laughable.
The balance of power will continue to shift.
Metropolitan Bank Holding Corp, Western Alliance Bancorporation & PacWest Bancorp all getting rekt this morning.
Who do you have your money on that will be the first to fail?
A reminder that on Nostr, you are not the product like on other platforms.
Neutronpay enters the Canadian market to open up remittance to El Salvador.
https://bitcoinmagazine.com/business/neutronpay-launches-bitcoin-lightning-app-in-canada
Good to see the Bank of Canada's quarterly update includes a piece on Bitcoin awareness, ownership and usage.
https://www.bankofcanada.ca/wp-content/uploads/2023/04/quarterly-research-newsletter-2003q1.pdf
Why not do both 😉. J/K!
A pruned node should be fine as you can use it to verify your recent transaction(s).