from Balaji | by Balaji

Remember 10 days ago when people said I was crazy to think it was a central bank crisis? Well, it's a central bank crisis. This had nothing to do with tech. Fed mismanagement crashed the system. And now they're going to print trillions. A stealth devaluation of the dollar. t.co/8YJOK4ih3z

Many people tried to pin SVB on tech scapegoats. As if your business checking account bankrupted a $200B bank. The Fed was of course the culprit. Sell bonds to everyone, promptly devalue them, cover up the subsequent insolvency, and deny responsibility. t.co/tzCEUSfi9D