Author of the Network State. Founder of the Network School.

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. https://t.co/KXTgYjAS5p https://t.co/iTFXvc68AZ

Bailing out depositors of failed banks is yet another mistake by the #Fed &amp; the U.S. Govt. Not only does the moral hazard lead to even greater instability in the banking system and larger future losses, but the #inflation created to pay for it unfairly socializes current losses. https://t.co/TDdCrzQ4UT

Chief Economist & Global Strategist: https://t.co/OMmqdEJS2O, Founder: https://t.co/Ib5G6n78js, Host: https://t.co/YAV1Kdqb51, three-time NY Times bestselling author.

Peter Schiff

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… https://t.co/fSKwpKZuqz https://t.co/tvokblS4EL https://t.co/KXTgYjAS5p

Immutable money, infinite frontier, eternal life. #Bitcoin

from Balaji | by Balaji