from Balaji | by Balaji

The Fed is what caused the banks to fail in the first place. See these gigantic losses? They’re due to bonds the government sold and then devalued. This isn’t a single bank problem, it’s a central bank problem.

If it was one bank, that’d be one thing. But we’ve just seen *three* banks fail — Silvergate, SVB, and Signature. Cause of death is a combination of regulatory strangulation and bond devaluation. But these weren’t natural deaths. The next step is to substitute artificial life… t.co/fSKwpKZuqz t.co/tvokblS4EL