JUST IN‼️🇺🇸 US government sold 9,861 #Bitcoin linked to Silk Road on March 14.
Remaining 41,490 #BTC to be sold in four batches in 2023. BOTTOM LINE IS THE GOVERNMENT NEED THE MONEY TO BAIL OUT THE BANKS
Let’s level set, shall we?
On March 10, a bank with $200B in assets went to zero[1] overnight. Since then, we’ve seen the following things happen:
Emergency Sunday Fed print for domestic banks [2]
$2T estimate of amount to be printed [3]
$18T estimate of amount to back all deposits [4]
186 banks reported similarly insolvent[5]
$500B wired from banks, seeking safe havens [6]
$150B+ in discount window, more than 2008 [7]
~$400B printed in days, reversing most QT [8]
Emergency Sunday Fed print for foreign banks [9]
Joint Sunday statement: US banks are “resilient" [10]
5 dead banks, incl too-big-to-fail Credit Suisse [11]
Rumbles around Deutsche Bank[12]
Rumbles around Charles Schwab [13]
Emergency Friday meeting of Yellen and FSOC[14]
Another statement that US banks are "resilient”[15]
Statement: "further actions may be necessary"[16]
All this comes against a backdrop of articles and charts from the Fed and FDIC talking in coded language about how many US banks are insolvent due to $620B+ in unrealized losses caused by the Fed’s surprise rate hikes.[17].
Despite this growing concern, the banking crisis seems to not have broken out of financial news. Arguably, it is intentionally being downplayed outside of the space where it can't be ignored. For example, I haven't seen too many White House tweets on the banking crisis, but I have seen them meeting Ted Lasso[18]. Perhaps they simply don't want to "panic" anyone by telling them their bank may have a problem.
But let’s be clear.
This is a Western banking crisis.
This is not normal.
This isn't anyone's hallucination.
And reporting on it isn't the same as causing it.
4 figures and 18 citations follow. 👇
[1]: https://t.co/dYstFAFNgZ
[2]: https://t.co/4iGDT180pK
[3]: https://t.co/lDjflRMfTw
[4]: https://t.co/4N11zTI7h4
[5]: https://t.co/x6TKfmUlHl
[6]: https://t.co/7OkjxXbFnD
[7]: https://t.co/WhSgF9fRHL
[8]: https://t.co/tys3EiUjWN
[9]: https://t.co/NhX7UBmWFC
[10]: https://t.co/hnFykBEzOT
@TeamYouTube But it’s been flagged for reused content and there is no reused content on there, how is this fair ? I’m not trying to be annoying, I just believe this is not right. Kind regards.
@TeamYouTube PLEASE HELP. I’ve lost my appeal for the YPP because of “reused content”. All my content is of me talking into the camera. I’m really confused!? Kind regards. #youtube