Step 1: Fed tells everyone interest rates won't rise for the foreseeable future Step 2: All of the banks buy long dated treasury bonds / MBS at 1-2% interest rate yields Step 3: Raise interest rates 450bps resulting in the mark to market value of existing bonds going to $0.6 on the dollar. Additionally people start pulling deposits from banks and buying USTs at 5% yield Step 4: let the crypto ponzis collapse and gaslight people into thinking crypto caused this contagion and that bitcoin = crypto. Cutoff access to "crypto" to protect the legacy system Step 5: break banks like Silicon valley and watch people pull their money from regional banks and move to the big 4. Let the bank runs persist Step 6: Say CBDCs would solve the problem of fractional reserve banking and bank runs. Make people think the best option is to have an account directly with the Fed