@balajis's Latest Twitter Threads

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.

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.

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

The Fed was always the true vampire squid. The problem isn’t just the banks, it’s the central bank. t.co/Zgdty7O0cY

"History...tells us investors tend to flock into dollar-denominated assets during times of stress" No, take a longer historical lens. People exit devaluing currencies. That's the key difference vs 2008. USD is no longer too big to fail. Hope what comes next is BTC, and not RMB. t.co/ZOT2wOJceq

Think of the Fed and friends as the system administrators of Western fiat economies. With the press of a key they can seize, freeze, create, or inflate any fiat asset. But they can’t do that to Bitcoin. It’s outside their control. Instead, it’s under your control.

CENTRAL BANK DIGITAL CONTROL != CBDC Fednow is central bank digital control, even if it's not technically central bank digital currency. I strive to be precise. So, let me make some important clarifications about FedNow, in response to fair points from @jp_koning and… t.co/7JCQpyZYRW

Bitcoin is the exit. When the state fails, Bitcoin is still there.

The infinite money is here. How we got here is a matter for history. The question is how to get out. Fed is launching their CBDC in July. You have about 90 days to exit. After that, you’re trapped. In a devalued digital dollar. It’ll be digital lockdown. Or Bitcoin independence.

On the unfortunate rise of Chinese bank stocks, I linked a reference. See below. Now, of course I don’t want to be under a digital yuan dog collar. But Powell is devaluing the dollar. So if USD goes into that good night, you should want BTC over RMB. t.co/KYJxJuYXqV