![balajis's tweet photo. Just as in 2008, the bankers lied.
This time, the central bankers, the banks, and the bank regulators have lied to all dollar holders and depositors.
This isn't your typical fractional reserve situation. The problem is that there isn't enough in the banks on a mark-to-market basis to cover withdrawals. They knew this through all of last year, and communicated it internally in their coded language.
It's obvious from the graphs (see below). The central banks, the banks, and the banking regulators all knew a huge crash was coming — the phrase is "unrealized losses" [1,2,3,4,5]. But they never notified you, the depositor.
Instead the regulators allowed banks to hide their literal insolvency in footnotes[6], until one guy figured it out[7].
It's Uncle Sam Bankman Fried. Just like SBF used your deposits to buy shitcoins, using accounting tricks to fool himself and others into using the money, so too did the banks.
They all used the deposits to buy the ultimate shitcoin: long-dated US Treasuries. And they all got rekt at the same time, in the same way, because they bought the same asset from the same vendor who devalued it at the same time: the Fed.
Specifically, as NYT admitted, banks "binged" on enormous amounts of Treasuries and other long-term bonds in 2021 when the flood of printed money cut off their typical demand for loans, and because they thought the Fed would keep interest rates low forever.[8].
And they had good reason to believe this. Powell said he'd be "patient" on rate hikes as late as Nov 3 2021[9]. Then he got renominated on Nov 22 2021[10], and hiked rates much faster than anyone had expected — which even Yellen[11] and the FDIC[12] admit caused the current banking crisis.
Why did Powell delay? Probably for political reasons. Presidents don't like rate hikes[13], especially running into the election year of 2022. And Powell thought he could wait and just be like Paul Volcker[14], who was "firm" and then defeated inflation.
But the world isn't an 80s rerun. Hiking from ten years of near zero interest rates in the 2010s was a surprise attack on every dollar holder. Economics isn't politics - the kind of insane flipflops you see in politics don't work when there are actual contracts involved.
So anyone who bet on long-term Treasuries got killed in 2021. And now, anyone who bets on short-term Treasuries is going to get killed in 2023. The absolute worse place you can be is to have large amounts of assets locked up in three month treasury bills. The ~5% interest rate offered by big banks (G-SIBs) is a trap. Most fiat bank accounts are now a trap, for those countries whose central bankers followed the Fed.
Check my references, I've provided quite a few.
If you trust US bankers and US media, ignore me.
Otherwise buy Bitcoin and get your coins off exchanges.
#Bitsignal
[1]: Fed, Sept 22: https://t.co/U4xeA0TAq9
[2]: FDIC Nov 22: https://t.co/NPj6jde3uG
[3]: FDIC Mar 6 23: https://t.co/1cctxQ27KI
[4]: Fed Feb 1 23: https://t.co/knQzUIKJI2
[5]: Bank CPAs, April 22: https://t.co/OlEnfFqb1N
[6]: Insolvency in a footnote: https://t.co/7b8oCBuFpp
[7]: Discovered online: https://t.co/oaVtf9f57Y
[8]: Banks bingeing on bonds, but not because they want to Aug 25 2021: https://t.co/OTfWwVwIqK](https://pbs.twimg.com/media/Frcng5maIAA12ZS.png)
![balajis's tweet photo. Just as in 2008, the bankers lied.
This time, the central bankers, the banks, and the bank regulators have lied to all dollar holders and depositors.
This isn't your typical fractional reserve situation. The problem is that there isn't enough in the banks on a mark-to-market basis to cover withdrawals. They knew this through all of last year, and communicated it internally in their coded language.
It's obvious from the graphs (see below). The central banks, the banks, and the banking regulators all knew a huge crash was coming — the phrase is "unrealized losses" [1,2,3,4,5]. But they never notified you, the depositor.
Instead the regulators allowed banks to hide their literal insolvency in footnotes[6], until one guy figured it out[7].
It's Uncle Sam Bankman Fried. Just like SBF used your deposits to buy shitcoins, using accounting tricks to fool himself and others into using the money, so too did the banks.
They all used the deposits to buy the ultimate shitcoin: long-dated US Treasuries. And they all got rekt at the same time, in the same way, because they bought the same asset from the same vendor who devalued it at the same time: the Fed.
Specifically, as NYT admitted, banks "binged" on enormous amounts of Treasuries and other long-term bonds in 2021 when the flood of printed money cut off their typical demand for loans, and because they thought the Fed would keep interest rates low forever.[8].
And they had good reason to believe this. Powell said he'd be "patient" on rate hikes as late as Nov 3 2021[9]. Then he got renominated on Nov 22 2021[10], and hiked rates much faster than anyone had expected — which even Yellen[11] and the FDIC[12] admit caused the current banking crisis.
Why did Powell delay? Probably for political reasons. Presidents don't like rate hikes[13], especially running into the election year of 2022. And Powell thought he could wait and just be like Paul Volcker[14], who was "firm" and then defeated inflation.
But the world isn't an 80s rerun. Hiking from ten years of near zero interest rates in the 2010s was a surprise attack on every dollar holder. Economics isn't politics - the kind of insane flipflops you see in politics don't work when there are actual contracts involved.
So anyone who bet on long-term Treasuries got killed in 2021. And now, anyone who bets on short-term Treasuries is going to get killed in 2023. The absolute worse place you can be is to have large amounts of assets locked up in three month treasury bills. The ~5% interest rate offered by big banks (G-SIBs) is a trap. Most fiat bank accounts are now a trap, for those countries whose central bankers followed the Fed.
Check my references, I've provided quite a few.
If you trust US bankers and US media, ignore me.
Otherwise buy Bitcoin and get your coins off exchanges.
#Bitsignal
[1]: Fed, Sept 22: https://t.co/U4xeA0TAq9
[2]: FDIC Nov 22: https://t.co/NPj6jde3uG
[3]: FDIC Mar 6 23: https://t.co/1cctxQ27KI
[4]: Fed Feb 1 23: https://t.co/knQzUIKJI2
[5]: Bank CPAs, April 22: https://t.co/OlEnfFqb1N
[6]: Insolvency in a footnote: https://t.co/7b8oCBuFpp
[7]: Discovered online: https://t.co/oaVtf9f57Y
[8]: Banks bingeing on bonds, but not because they want to Aug 25 2021: https://t.co/OTfWwVwIqK](https://pbs.twimg.com/media/Frcnfs8akAExKIh.png)
![balajis's tweet photo. Just as in 2008, the bankers lied.
This time, the central bankers, the banks, and the bank regulators have lied to all dollar holders and depositors.
This isn't your typical fractional reserve situation. The problem is that there isn't enough in the banks on a mark-to-market basis to cover withdrawals. They knew this through all of last year, and communicated it internally in their coded language.
It's obvious from the graphs (see below). The central banks, the banks, and the banking regulators all knew a huge crash was coming — the phrase is "unrealized losses" [1,2,3,4,5]. But they never notified you, the depositor.
Instead the regulators allowed banks to hide their literal insolvency in footnotes[6], until one guy figured it out[7].
It's Uncle Sam Bankman Fried. Just like SBF used your deposits to buy shitcoins, using accounting tricks to fool himself and others into using the money, so too did the banks.
They all used the deposits to buy the ultimate shitcoin: long-dated US Treasuries. And they all got rekt at the same time, in the same way, because they bought the same asset from the same vendor who devalued it at the same time: the Fed.
Specifically, as NYT admitted, banks "binged" on enormous amounts of Treasuries and other long-term bonds in 2021 when the flood of printed money cut off their typical demand for loans, and because they thought the Fed would keep interest rates low forever.[8].
And they had good reason to believe this. Powell said he'd be "patient" on rate hikes as late as Nov 3 2021[9]. Then he got renominated on Nov 22 2021[10], and hiked rates much faster than anyone had expected — which even Yellen[11] and the FDIC[12] admit caused the current banking crisis.
Why did Powell delay? Probably for political reasons. Presidents don't like rate hikes[13], especially running into the election year of 2022. And Powell thought he could wait and just be like Paul Volcker[14], who was "firm" and then defeated inflation.
But the world isn't an 80s rerun. Hiking from ten years of near zero interest rates in the 2010s was a surprise attack on every dollar holder. Economics isn't politics - the kind of insane flipflops you see in politics don't work when there are actual contracts involved.
So anyone who bet on long-term Treasuries got killed in 2021. And now, anyone who bets on short-term Treasuries is going to get killed in 2023. The absolute worse place you can be is to have large amounts of assets locked up in three month treasury bills. The ~5% interest rate offered by big banks (G-SIBs) is a trap. Most fiat bank accounts are now a trap, for those countries whose central bankers followed the Fed.
Check my references, I've provided quite a few.
If you trust US bankers and US media, ignore me.
Otherwise buy Bitcoin and get your coins off exchanges.
#Bitsignal
[1]: Fed, Sept 22: https://t.co/U4xeA0TAq9
[2]: FDIC Nov 22: https://t.co/NPj6jde3uG
[3]: FDIC Mar 6 23: https://t.co/1cctxQ27KI
[4]: Fed Feb 1 23: https://t.co/knQzUIKJI2
[5]: Bank CPAs, April 22: https://t.co/OlEnfFqb1N
[6]: Insolvency in a footnote: https://t.co/7b8oCBuFpp
[7]: Discovered online: https://t.co/oaVtf9f57Y
[8]: Banks bingeing on bonds, but not because they want to Aug 25 2021: https://t.co/OTfWwVwIqK](https://pbs.twimg.com/media/FrcnepDaYAA-bxE.png)
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@TheCryptoLark GME meme coin on Solana, because they can't halt trading like they can for the stock on NYSE.
EOS to scale BTC Whitepaper released https://t.co/9KdwXDJYgd
Discover the future of $BTC with @exSatNetwork!
This blog post delves into how #exSat leverages #EOS $RAM technology to enhance #Bitcoin's capabilities through an innovative "Docking Layer".
Learn more about hybrid consensus, decentralized data indexing, and EVM compatibility are transforming the crypto landscape 👇
https://t.co/t5nJXuLkf6
Interesting to note today that trading the GameStock (GME) meme coin on the Solana (SOL) blockchain could NOT be halted.
One should ask themselves what financial or monetary system should they be supporting blockchain or the current system?
https://t.co/haJC9zTNx4
#GMEonSOL
The recent announcement of @exSatNetwork, a #Bitcoin scaling solution built on top of #EOS was covered by @CoinDesk 📰
Check out the full article below to learn more 👇
https://t.co/FimQ2vOeE2
Who to follow
Oregon Electric Vehicle Association (oeva.org)
@OEVAorg
A non-profit association of electric vehicle enthusiasts. #NoPlugNoDeal #NationalDriveElectricMonth #KeepItInTheGround #StopBurningStuff
QuantumWorks Corp.
@QuantumWorks_
High performance quality engineered Electric & Hybrid Conversions, Components, sub-systems & complete drivetrains.
EVisioneering
@EVisioneer2020
Daily stream of curated articles and links from the rapidly expanding world of electric vehicles. Links do not always imply endorsement, however.
Free MIT Education
Download all the Lectures: 15.S12 | Graduate
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Course Description
This course is for students wishing to explore blockchain technology’s potential use—by entrepreneurs and incumbents
https://t.co/3lx96NmdFg
#blockchain #BTC #Bitcoin #ETH
UFO Public Reporting Events Then and Now
It is interesting to compare UFO media reporting from 20+ years ago compared to now.
https://t.co/11qM2aZ8iY
#UFO #DisclosureProject #DrGreer #TWA800
International fireworks competition (SeaFire2023) was pretty good here (Gold Coast, Queensland) last night with Sweden, Germany and Australia participating.
#Seafire2023 #fireworks
@blockchainchick lol Elon Musk's bots blocked me...now what should one do?
@balajis Many many thanks for trying to inform, enlighten and improve the lives of so many people. Cheers mate!
Do It Yesterday! Don't Wait to Act.
#Bitcoin
Just as in 2008, the bankers lied.
This time, the central bankers, the banks, and the bank regulators have lied to all dollar holders and depositors.
This isn't your typical fractional reserve situation. The problem is that there isn't enough in the banks on a mark-to-market basis to cover withdrawals. They knew this through all of last year, and communicated it internally in their coded language.
It's obvious from the graphs (see below). The central banks, the banks, and the banking regulators all knew a huge crash was coming — the phrase is "unrealized losses" [1,2,3,4,5]. But they never notified you, the depositor.
Instead the regulators allowed banks to hide their literal insolvency in footnotes[6], until one guy figured it out[7].
It's Uncle Sam Bankman Fried. Just like SBF used your deposits to buy shitcoins, using accounting tricks to fool himself and others into using the money, so too did the banks.
They all used the deposits to buy the ultimate shitcoin: long-dated US Treasuries. And they all got rekt at the same time, in the same way, because they bought the same asset from the same vendor who devalued it at the same time: the Fed.
Specifically, as NYT admitted, banks "binged" on enormous amounts of Treasuries and other long-term bonds in 2021 when the flood of printed money cut off their typical demand for loans, and because they thought the Fed would keep interest rates low forever.[8].
And they had good reason to believe this. Powell said he'd be "patient" on rate hikes as late as Nov 3 2021[9]. Then he got renominated on Nov 22 2021[10], and hiked rates much faster than anyone had expected — which even Yellen[11] and the FDIC[12] admit caused the current banking crisis.
Why did Powell delay? Probably for political reasons. Presidents don't like rate hikes[13], especially running into the election year of 2022. And Powell thought he could wait and just be like Paul Volcker[14], who was "firm" and then defeated inflation.
But the world isn't an 80s rerun. Hiking from ten years of near zero interest rates in the 2010s was a surprise attack on every dollar holder. Economics isn't politics - the kind of insane flipflops you see in politics don't work when there are actual contracts involved.
So anyone who bet on long-term Treasuries got killed in 2021. And now, anyone who bets on short-term Treasuries is going to get killed in 2023. The absolute worse place you can be is to have large amounts of assets locked up in three month treasury bills. The ~5% interest rate offered by big banks (G-SIBs) is a trap. Most fiat bank accounts are now a trap, for those countries whose central bankers followed the Fed.
Check my references, I've provided quite a few.
If you trust US bankers and US media, ignore me.
Otherwise buy Bitcoin and get your coins off exchanges.
#Bitsignal
[1]: Fed, Sept 22: https://t.co/U4xeA0TAq9
[2]: FDIC Nov 22: https://t.co/NPj6jde3uG
[3]: FDIC Mar 6 23: https://t.co/1cctxQ27KI
[4]: Fed Feb 1 23: https://t.co/knQzUIKJI2
[5]: Bank CPAs, April 22: https://t.co/OlEnfFqb1N
[6]: Insolvency in a footnote: https://t.co/7b8oCBuFpp
[7]: Discovered online: https://t.co/oaVtf9f57Y
[8]: Banks bingeing on bonds, but not because they want to Aug 25 2021: https://t.co/OTfWwVwIqK
![balajis's tweet photo. Just as in 2008, the bankers lied.
This time, the central bankers, the banks, and the bank regulators have lied to all dollar holders and depositors.
This isn't your typical fractional reserve situation. The problem is that there isn't enough in the banks on a mark-to-market basis to cover withdrawals. They knew this through all of last year, and communicated it internally in their coded language.
It's obvious from the graphs (see below). The central banks, the banks, and the banking regulators all knew a huge crash was coming — the phrase is "unrealized losses" [1,2,3,4,5]. But they never notified you, the depositor.
Instead the regulators allowed banks to hide their literal insolvency in footnotes[6], until one guy figured it out[7].
It's Uncle Sam Bankman Fried. Just like SBF used your deposits to buy shitcoins, using accounting tricks to fool himself and others into using the money, so too did the banks.
They all used the deposits to buy the ultimate shitcoin: long-dated US Treasuries. And they all got rekt at the same time, in the same way, because they bought the same asset from the same vendor who devalued it at the same time: the Fed.
Specifically, as NYT admitted, banks "binged" on enormous amounts of Treasuries and other long-term bonds in 2021 when the flood of printed money cut off their typical demand for loans, and because they thought the Fed would keep interest rates low forever.[8].
And they had good reason to believe this. Powell said he'd be "patient" on rate hikes as late as Nov 3 2021[9]. Then he got renominated on Nov 22 2021[10], and hiked rates much faster than anyone had expected — which even Yellen[11] and the FDIC[12] admit caused the current banking crisis.
Why did Powell delay? Probably for political reasons. Presidents don't like rate hikes[13], especially running into the election year of 2022. And Powell thought he could wait and just be like Paul Volcker[14], who was "firm" and then defeated inflation.
But the world isn't an 80s rerun. Hiking from ten years of near zero interest rates in the 2010s was a surprise attack on every dollar holder. Economics isn't politics - the kind of insane flipflops you see in politics don't work when there are actual contracts involved.
So anyone who bet on long-term Treasuries got killed in 2021. And now, anyone who bets on short-term Treasuries is going to get killed in 2023. The absolute worse place you can be is to have large amounts of assets locked up in three month treasury bills. The ~5% interest rate offered by big banks (G-SIBs) is a trap. Most fiat bank accounts are now a trap, for those countries whose central bankers followed the Fed.
Check my references, I've provided quite a few.
If you trust US bankers and US media, ignore me.
Otherwise buy Bitcoin and get your coins off exchanges.
#Bitsignal
[1]: Fed, Sept 22: https://t.co/U4xeA0TAq9
[2]: FDIC Nov 22: https://t.co/NPj6jde3uG
[3]: FDIC Mar 6 23: https://t.co/1cctxQ27KI
[4]: Fed Feb 1 23: https://t.co/knQzUIKJI2
[5]: Bank CPAs, April 22: https://t.co/OlEnfFqb1N
[6]: Insolvency in a footnote: https://t.co/7b8oCBuFpp
[7]: Discovered online: https://t.co/oaVtf9f57Y
[8]: Banks bingeing on bonds, but not because they want to Aug 25 2021: https://t.co/OTfWwVwIqK](https://pbs.twimg.com/media/FrcniLSaMAEtI0d.jpg)
@EosNFoundation @gofractally @bytemaster7 This all sounds amazingly great, it would probably be wise to make sure Reggie Middleton's Vertaseum (VERI) DeFi patents in the USA and Japan work with any future EOS DeFi plans.
@cryptobubbly Yes I am still around just taking a break from crypto publishing for a bit...
Don't get distracted by daily price moves be sure to see the bigger picture.....
This week's cryptocurrency performance courtesy of #cryptobubbles.net
#cryptomarket #cryptocurrency @kenburridge
FYI: Vitamin D and Zinc are part of my daily routine before the Omicron variant comes to visit. #Omicron
https://t.co/5AZ48JZgpV News Launch Today (but not in USA) 3 of 3
https://t.co/5AZ48JZgpV News Launch Today (but not in USA) 2 of 3
https://t.co/5AZ48JZgpV News Launch Today (but not in USA) 1 of 3
@brockpierce @KOREOS_IO @scottcarat The EOS community no doubt feels it is awesome to have you back Brock!
@RUDEMUDCRAB Bullish has the potential to make EOS the settlement layer for BTC and USDT. If that becomes even partially true it’ll be huge.
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