And by “this” you mean the entire US budget
nostr:npub14mcddvsjsflnhgw7vxykz0ndfqj0rq04v7cjq5nnc95ftld0pv3shcfrlx
When Peter interviewed the fed guy Joseph Wang he asked why we need the Fed.
Wang’s answer was: before the Fed there were market crashes and the private sector would have to step in. You don’t want to always have to rely on the private sector, you need public insurance. (He didn’t say this in so many words, but this was the gist of his response). Thus allowing the fractional reserve banking to continue.
If Tesla cannot survive as a business without government subsidies, it’s not a viable business model.
If a bank fails because they took the reserve fraction too low and couldn’t pay their debtors they should go out of business, not have their losses socialized.
If a bunch of banks fail simultaneously then the *system* needs to change, not have *all* the losses socialized.
If you socialize the losses then banks are *incentivized* to take greater risks. It’s a perverse incentive.
Same thing with a Nostr relay.
Hopefully improving quickly.
Got any questions?
I’m interested in honing my teaching of bitcoin.
I, too, fall somewhere between knowing nothing and everything.
Bring back the guillotine
The best part about all of the last few years is the fact that the genpop fully understands that all the news media is biased. Any pretense of unbiased reporting has been stripped away.
If the SEC is forced to legitimize the bitcoin marketplace they will probably resort to increasingly devious *alternate* measures to suppress the dollar flight. That and blackrock needing more sats are a couple catalysts for this price fixing.
So, yeah, probably spot on.
That happened to me a few days ago.
How did you do it?
It was the judge
That’s what I thought.
Just means they have to more creative and get a friendlier judge.
So the cheapest bitcoin could be GBTC, until it returns to NAV?
Hopefully not, cuz if there’s some other catalyst that would be awesome!
We just confirmed nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a 's next book will be "Broken ETFs"
I LOLed
Does this still require SEC approval, or does this prohibit SEC disapproval (if that makes sense)?
Doge will get exposed under the pressure. It will not end well.