![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)
Olivia
Online
Arturo Feynman
@axplorations
Entrepreneur | Bridging Markets in China, Mexico, & the USA | Student of Tech, Innovation and Human Optimization. Co-founder @lahackerialatam
Joined August 2016
249 Following
19 Followers
158 Posts
"Mexico's embracing AI for growth & jobs! 🚀 As a key player in North America, it's redefining its future economy & lifestyle." https://t.co/d0wYJxkG4O
Mexico's economy grows 1.1% in Q1 2024 driven by services. Addressing finance access and regulations key for sustained growth. Strategic position between North America and China pivotal for economic future. #MexicoEconomy2024
Forward: civilization is headed into infinite expansion on most fronts, thus accelerating the inevitable. Should this not happen, next, the only alternative is contraction of the intricate systems that today support the world as we know it.
I've talked to multiple founders recently who have changed their minds about remote work and are trying to get people back to the office. I doubt things will go all the way back to the way they were before Covid, but it looks like they will go most of the way back.
Interesting
Extremely destructive if accurate
the 100 True Fans thing is a dope way for artists and hustlers to make bank by gathering a small but hardcore group of fans who are super into what they do
Legit
AI agents continue to amaze…
My GPT-4 coding assistant learned how to build apps with *authenticated* users!
It can now:
- build and design a web app
- create a backend with working db
- handle auth
- upload code to GitHub
- deploy to Vercel
Things are starting to get crazy!
..., which they then lost a bunch of dough on because the Fed totally undervalued those bonds. And if you're thinking of betting on short-term Treasuries in 2023, you might as well kiss your money GB, 'cuz the rising IRs are just gonna add to the mess that's already hit the fan.
So get this: those bigwigs at the central banks, banks, and regulators all knew a massive financial crisis was about to go down, but they didn't bother telling us regular folks with our deposits. Instead, they went and blew our cash on long-term US Treasuries...
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)
The building blocks of optimal health can be thought of on a daily schedule basis:
- sleep
- nutrients
- movement
- light
- social connection
PRETTY RAD!
So far EP125 meetups for @theallinpod are happening in 15 cities (approximately April 22).
Only happens because hosts MAKE it happen 👏🏽
Join or host: https://t.co/MDW9jhBd3v
In late stage post-AI capitalism the best tool you can have is skepticism. You must assume nothing you see is real, that everyone is trying to scam you, that nothing can be trusted, that you are under 24/7 surveillance (you are), then accept it. We are now in the paranoid economy
An example of what happens when gotcha hate bait journalists are held to the same “fact checking” standards that they purport to live by. This BBC journalist is caught with his pants down, speaking in broad soundbites, and Elon rakes him over the coals.
“Argentina went from ranking among the world's top economies to one at the very bottom of the list…the guiding principle was profligacy. And then, when nothing else worked, to go into debt, print money and let inflation gallop.” https://t.co/Ur8OAxT7ow
@levelsio And people getting screwed by AI
PS: People will find out about AI's side effects only when it's too late to reverse or counteract those
@levelsio Not ignorance, but ignorance of ignorance is the death of knowledge...
And yet:
Civilization advances by extending the number of important operations which we can perform without thinking of them.
Alfred North Whitehead
The future of building startups:
- MVP speed (1x per month)
- AI-accelerated
- Superniche is the new niche
- Community 1st, software 2nd
- No-code 1st, some code 2nd
- 10x more automated
- Global teams, localized products
- 95% dominated by solopreneurs and microentrepreneurs (teams less than 12)
- Pop-up digital experiences (apps that only work on certain times)
- Needs the marketing holy-trinity to hit escape velocity: 1. product/market fit, 2. content/market fit and 3. community/market fit
- Team is half robots 🤖, half humans 👨🦰 (cc @youneedarobot)
- Accelerated by "boring marketing" (cc @boringmarketer)
- Multiple revenue streams
- Design matters. The bar is high
- Partnered w/ creators (creators are the distribution)
- Feels like a game (levels, status, badges, in-app currency, challenges, collectibles/items)
- Purpose-driven moonshots: societal impact matters
- Productized agencies to generate cashflow (ex design agency @DispatchDesign)
- Product studios become the norm
- 99% of MVPs won't need VC
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