@balajis's Latest X Threads

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

I like @tylercowen, but disagree and here's why: ♾/21M. It's a simple argument. I know the Fed will keep printing trillions while Bitcoin's money supply remains at 21M. As the Fed digitally devalues the dollar over the days and weeks to come, we enter hyperbitcoinization. t.co/7h7ifJ11AS

No, Bitcoin is the lifeboat. It's the Fed that crashed the ship. Because they knew the banks were insolvent.[1-5] Since they'd *caused* the banks to be insolvent.[6] Now they are trying a stealth devaluation of the dollar. To stick innocent Americans and dollar holders worldwide… t.co/wT6ztXkZ89

Counterargument: all those unpayable debts are about to be paid with printed money. So won’t be paid in full. And then we’ll see that fractional reserve didn’t make societies rich, but made them think they were rich by borrowing from their future. The big debt crisis is here. t.co/YkajK97nY7 t.co/gb6tTWupBA

This is the clearest way to see what's happening. They've decided to monetize the debt. In the messiest way possible. By printing $150B+ for insolvent banks. To cover an orgy of bank runs. The dollar supply is now going vertical. And so is the demand for Bitcoin. #bitsignal t.co/KP27dS8f9r

Fact: millions of depositors at hundreds[0] of banks (including SVB) weren't warned that their banks were rendered insolvent by Powell's surprise rate hikes, despite the fact that the Fed and FDIC both demonstrably knew months before SVB[1, 2]. They still haven't been warned.… t.co/ZW7VzZzpfW

Jack is right. And hyperinflation is happening — now. Buy Bitcoin and get your coins off exchanges. t.co/25y7nxABsZ t.co/JtCWsgpGQW

It's over, woke white. You oppressed much of the world, but it's over. Fed went from printing $25B to $2T in four days. The bagholder is the dollar holder. The system of control you inherited is ending. The 99% of the world that isn't a white American Democrat will breathe free. t.co/cEN4866wwy t.co/8l3GfBgrb9

The Fed knew a banking crisis was on the way. And that their rapid hikes had caused it. Just 4 community banks had issues in late 21. But **333** did just six months later! Due to big unrealized losses, caused by hikes. Dangerous in a bank run… t.co/i3xMQGss8z t.co/CJFWxyPEjZ

It's not just SVB which had high duration risk. The entire banking sector has ~$620B in unrealized losses because they bought billions in 10-year bonds at low rates in 2021 before surprise hikes in 2022. t.co/LmCjkf7YBb t.co/CWRYMgVFEi t.co/0yocyLYaxm