Teach people around you about money and bitcoin. The more people realize they don't have to suffer with this bullshit, the sooner these events won't be so signigicant.
They are bailing them out to ensure no contagion and help making payroll to protect innocent people, but at the same time, this also helps the people who are at fault for no proper risk management?
While at good times, the innocent people don't profit? They are basically just hostages in bad times?
Is this what is meant with "privatize the gains, socialize the losses" since the money has to come from somewhere which can be either from the tax payer or the money printer. Anyway, we lose.
Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.
With people who are at fault we mean the VCs who put their money into that bank and are now bailed out?
I wouldn't worry too much about the details. One way or another, if not now then later, the whole thing will implode. So just GTFO of their no-fixed-rules monopoly game.
This makes me so angry. The system is so broken you got all these YouTube and fintwit trying to explain this complex system debating what is money printing and what is not. For me I like to think in practical terms. How in the world is the central bank getting money? Is it bank reserves? Profits from past dealings? or whatever the fuck to do this type of shit. Buy distressed assets at par like how?!! From where?! Why this bank and why not voyager or BlockFi. Why do people Who knew the rules get made whole while others suffers. Like people who bought the stock on the open market.
Absolutely ridiculous. Sorry for the rant but I’m just so tired of this bullshit happening.
People need to protect themselves. No need to wait for the shiny white armor state to come. If things need to fail, let them fail. Better things will come after.
My understanding is that SVB bought bonds (based on the feds predictions at .1%interest ) Interest is actually 4.7% (47X). So the bonds are performing below market value. If SVB sells the bonds to cover withdrawals, they have to take a loss. But the bonds should be less than deposits? It sounds like a technicality less than a bank fail, and the news feels like a shell game. Twitter is saying that all the crypto friendly banks are shuttered, yet BTC/$ looks strong. I can't tell who the patsy is, which is.. disturbing.
Can someone help me understand this thing? Not some pithy stack sats reply. Think like a chess game, mate in 3 maybe 4. You got 10 minutes on the clock.
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
It's kinda crazy to think that we're living through history being written and not just history being in the past 🙄
And don't just sit watching it all going to shit. Be part of the change.
What should I do tho?
Teach people around you about money and bitcoin. The more people realize they don't have to suffer with this bullshit, the sooner these events won't be so signigicant.
Did I get this right:
They are bailing them out to ensure no contagion and help making payroll to protect innocent people, but at the same time, this also helps the people who are at fault for no proper risk management?
While at good times, the innocent people don't profit? They are basically just hostages in bad times?
Is this what is meant with "privatize the gains, socialize the losses" since the money has to come from somewhere which can be either from the tax payer or the money printer. Anyway, we lose.
Bingo
What about
With people who are at fault we mean the VCs who put their money into that bank and are now bailed out?
But the shareholders are other people?
I wouldn't worry too much about the details. One way or another, if not now then later, the whole thing will implode. So just GTFO of their no-fixed-rules monopoly game.
I am already out of it and was never in it.
I just care about details.
But I think this answered my questions good enough: https://www.youtube.com/watch?v=oHjDCC6Vigc
Nice... Or not nice lol
No dip for us now. It's off to the races.
Their problems give us cheap sats. Works for me 😁
This makes me so angry. The system is so broken you got all these YouTube and fintwit trying to explain this complex system debating what is money printing and what is not. For me I like to think in practical terms. How in the world is the central bank getting money? Is it bank reserves? Profits from past dealings? or whatever the fuck to do this type of shit. Buy distressed assets at par like how?!! From where?! Why this bank and why not voyager or BlockFi. Why do people Who knew the rules get made whole while others suffers. Like people who bought the stock on the open market.
Absolutely ridiculous. Sorry for the rant but I’m just so tired of this bullshit happening.
Macroeconomics are to be protected, the question is will it work.
People need to protect themselves. No need to wait for the shiny white armor state to come. If things need to fail, let them fail. Better things will come after.
money printer go brrrr
Lol so a bail out by another name? No wonder risk assets are rallying, a sad day for tax payers here
PRINTER GO BRRRRRR
https://twitter.com/balajis/status/1636429773865095168
My understanding is that SVB bought bonds (based on the feds predictions at .1%interest ) Interest is actually 4.7% (47X). So the bonds are performing below market value. If SVB sells the bonds to cover withdrawals, they have to take a loss. But the bonds should be less than deposits? It sounds like a technicality less than a bank fail, and the news feels like a shell game. Twitter is saying that all the crypto friendly banks are shuttered, yet BTC/$ looks strong. I can't tell who the patsy is, which is.. disturbing.
Can someone help me understand this thing? Not some pithy stack sats reply. Think like a chess game, mate in 3 maybe 4. You got 10 minutes on the clock.
I want to understand the moving pieces here.
Bail ins begin
deleted by author
weeeee