from Balaji | by Balaji

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

Some of the charts mentioned are below. (Now of course they are covering these losses with printing, which is a whole other set of charts.)

Also, here's a bit more on FedNow. It's central bank digital control, even if it's not technically a CBDC. Basically, the distinction between FedNow and a CBDC is important from a technical standpoint, but not from a civil liberties standpoint.