For SVB to fail as it did 3 things all had to simultaneously be true: fiscal policy had to fail, monetary policy had to fail, and SVB risk management had to fail. Take away any one of those and this event likely either didn’t happen or was far less severe. Both the public and private sectors failed in different ways at different times and it all came together in a horrific way. #nuance

Good thing bank regulators aren’t focused on pesky things like risk or solvency, and are instead focused on written documentation of procedures. That way when the bank goes under you can rest assured they had a beautiful slide deck.

There is an active run on US regional banks.

“The Federal Deposit Insurance Corp. in February reported that U.S. banks’ unrealized losses on available-for-sale and held-to-maturity securities totaled $620 billion as of Dec. 31, up from $8 billion a year earlier before the Fed’s rate push began.” Per WSJ. Can the banking system sustain potentially hundreds of billions of dollars in losses? And this was before rates went higher and SVB failed.

If the Fed raises rates to 6% or higher, more banks runs(especially outside the US) are inevitable.

Press and White House trying to say we have no problems in the banking system because SVB is a “medium sized” bank. They’re in the top 20 biggest banks in the country. If they’re medium, what qualifies as big?

The takeaway from SVB and Silvergate banks (potentially) failing is that industry specific banks have correlation risk, and this should necessitate higher liquidity requirements and more conservative investing of their assets.

I have tried both Casa and Unchained’s multisig Bitcoin wallets. Top notch on both. Hard to decide which I like more.

Bitcoin is a rabbit hole of positivity and self betterment/development.

Controversial opinion Monday: having kids, Bitcoin, and plain espresso are all underrated. Having pets of any kind and black tea are overrated.