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US government confirms it will be legal to buy Bitcoin for at least a while. 🙂 t.co/IfYQLZkOBZ
about 12 hours ago
We're in a new era. People know banks may abruptly fail. People know regulators won't warn them beforehand. So people are seeking safe haven. Billions exiting via digital wires. But to where? Today, big banks and money market funds. Tomorrow, assets without counterparty risk. t.co/LymdXENvMH
about 15 hours ago
Software was eating the world. Now AI has eaten software.
3 days ago
Are we in the middle of a central banking crisis?
DID REPUBLICANS PAY FOR 2008? Let's revisit 2008. Lots of money printed. All good, right? Well, no. Someone was diluted. That's what inflation is. It's dilution. And maybe we can see *who* was diluted. In 2008, Republican and Dem districts were equal. See the outline of both… t.co/jw6reixXlP t.co/bWs6Hu8kW6
Let’s level set, shall we? On March 10, a bank with $200B in assets went to zero overnight. Since then, we’ve seen the following things happen: Emergency Sunday Fed print for domestic banks  $2T estimate of amount to be printed  $18T estimate t.co/4NBFCy1BWX… t.co/XRHjWkx86B t.co/dMkrLMbhmT
Now this is interesting! State-chartered banks could operate without Fed approval. You'd have to get into the guts of clearing and settlement, but perhaps states like Florida and Texas could keep the rails open even if the Fed wasn't very happy about it. t.co/oUAqrgQ3ck
Today it's red vs blue. Tomorrow it'll be orange vs green. Bitcoin maximalists vs dollar nationalists. The decentralized network vs the centralized state. t.co/51dUP0sd23
I disagree with some of the framing, but this video correctly summarizes four key points. 1) Fed rendered many banks massively insolvent 2) Fed is printing to cover that insolvency 3) They're also trying to block the exit to Bitcoin 4) And they're rolling out FedNow in July t.co/eRlW4A6zMM
The Fed was always the true vampire squid. The problem isn’t just the banks, it’s the central bank. t.co/Zgdty7O0cY t.co/sCOSvxRLSx