There is s huge potential for corruption if some govermnent official decides which bank will be bailed first, what amount of “money” will be alocated …
This selectivity based on political or personal gain considration should not exist in capitalism. It will for sure be in-efficient and also for sure corrupt. Its inevitable.
That caused collapse of communism and it will destroy USA. For sure.
Trick the banks to buy government bonds
Icrease interest rates super quick to de-value those bonds at banks
Let cryupto-friendly banks collapse
Bail other banks selectively and conditionaly
Condition being: after bail receiver bank must put some of bail money to secret party elections funds
Distribute recived funds as yo see fit. They are secret anyway.
Yes. US govt officials are capitalist living in a socialist society. Threy close perfectly solid banks that are not to their liking, fix the price of bonds, sell strategic oil reserves. US is becoming like China fast
With unemployment as an official strategy of FED things will get worse
Bitcoin cap is very small in comparison with gold, real estate, arts… So small that it al least for now is not able to endanger US dollar and that is not the reason Biden, Warren, Gensler… hate bitcoin so intensivelly.
The reason is that they do NOT allow anybody outside of their cleptocratic ellites to become rich or god forbid richer then them. They do not want new elites who do not owe them anything.
They were so desperate to unbank bitcoin to accept huge risk of causing massive bank runs and put them on the brink of second 2008 year meltdown.
US is now another China: dictatorial, corrupt stste run by selfish geriatric patients
If the banking system in my country collapses I will loose about 0.02 Btc - that equivalent fiat value I keep in the banks
US government is opsessed with shuting down crypto so they took a very big risk with bank closures. They played with fire in a very unstable situation and now there will be wide spread bank collapses. The only way to stop it now is to print fresh money like never before. And that will bring huge infiation.
How do call a system where regulators covertly crate a major crypto exchange, drain from it 12 bilions of customer’s funds directly into their own pockets, crash the exchange and then start frontal attack on all crypto banks and busineses, closing them without valid reason, charging milion of fines, denying operating licences … ?
It is called US democracy!
Or maybe they should be named more appropriately: cleptocracy
FTX scam and crack on bitcoin friendly banks is organized by same
people: Warren & Gensler.
US is becoming a lawless country.
Pi open main network open … soon🤣
He is irrelevant now.
US Gvmnt crack-down on bitcoin backfires. They can do whatever they want but but not in the whole world!
