Balaji

Matt Levine

Jason, I'm glad you recognize the distinction between reporting on the Fed’s crisis and causing it!

While I have you…with zero personal animus, I’m going to need you to correct the record on something. And this is also addressed to @matt_levine and to a lesser extent… https://t.co/2rhA7SXDMX

@balajis Be careful, by reporting on this you’re causing it! 🤦🏻‍♂️😂

World's Greatest Moderator (TM), Angel investor: https://t.co/6leeScky9Y @twistartups @theallinpod @launch @inside

@jason

REQUEST FOR CORRECTION FROM CALACANIS, POLITICO, BLOOMBERG

As mentioned above, the only previous time I have ever rung a fire alarm like this was in Jan 2020, to warn of what we now know to be a novel virus that leaked out of a Chinese lab and killed ~7M https://t.co/UjSAUiVnbI… https://t.co/w7zEvYAiX9 https://t.co/rNtpMgUGuv

Immutable money, infinite frontier, eternal life. #Bitcoin

Are we in the middle of a central banking crisis?

Is it widely known that we are in a central banking crisis?

THE PRINTING IS COMING
It's on you, the citizen journalist.
You need to make people aware.
They were printing "only" $25B on March 12.
Then $2T on March 16.
Now it's $18T on March 21.
Eventually it will be ♾ / 21M.
Then you may have nothing.
Unless you https://t.co/4NBFCy1BWX… https://t.co/WV3TuowSAw https://t.co/tzxBTagmue

This is the BLM government. Mostly peaceful protests, mostly solvent banks. https://t.co/D35rUHvu0d

BREAKING: US Federal Reserve and Treasury Secretary Yellen say US banking system's capital and liquidity positions are robust and the financial system is resilient

Focused on finance, business, news, science and sports.

The Spectator Index

The same people who told you that buildings weren't on fire are now telling you banks aren't on fire. https://t.co/Ep39nsIl1Y

Btw, once you get used to parsing their language, the Fed lies like it breathes. Of course the Fed knows that its rate hikes have silently killed 300+ community banks. It's Kansas City office wrote the report!

But rather than notify depositors, everyone https://t.co/1XcpZdabAV… https://t.co/krG38mqyWH https://t.co/7s0Q2WWrDM

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. https://t.co/8YJOK4ih3z

US FEDERAL RESERVE: THE FED AND THE CENTRAL BANKS OF THE UNITED KINGDOM, CANADA, JAPAN, THE EUROPEAN CENTRAL BANK, AND SWITZERLAND ANNOUNCE A COORDINATED ACTION TO IMPROVE LIQUIDITY PROVISION THROUGH THE STANDING US DOLLAR LIQUIDITY SWAP LINES.

Market moving headlines for professional day traders 24/7 via audio squawk.

Breaking Market News

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. https://t.co/tzCEUSfi9D

tylercowen

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. https://t.co/7h7ifJ11AS

James Medlock

Why @jdcmedlock will win his million dollar bet with @balajis 👇 https://t.co/dYSpz94sy5

Alec Stapp

Here's a more complex argument.
American macro is like Soviet macro.
Macro guys thought Bitcoin couldn't exist.
Nobel Laureates denounced it.
They all said it would die.
Yet here it is.
Because Bitcoin doesn't fit within standard macro.
It can't be inflated with a keypress.
Nor… https://t.co/D3AZEZCUXS

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… https://t.co/wT6ztXkZ89

Oh, I don’t think the Balaji/Thiel/maxi axis can bring down the banking system. I just think they’re evil dicks for trying. https://t.co/RvpaBpfEsq

Hope has two beautiful daughters - Anger and Courage. Anger at the way things are, and Courage to see that they do not remain as they are. - St. Augustine

Ben Hunt

Good question.
The short answer is: that's what the Fed does.
It silently devalues the dollar, as you can see below.
Usually it does this slowly.
But recently it's sped up with all the printing.
The final phase of digital dollar devaluation will be much faster than all previous… https://t.co/mjcaSxdlbr https://t.co/HT4GZuacrw https://t.co/DJvoTw3xUG

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. https://t.co/YkajK97nY7 https://t.co/gb6tTWupBA

Without the fractional reserve banking system, credit would only be available to the already rich. 

Mortgages, auto loans, credit cards, student loans, start-up loans … all of these would no longer be available if you moved to a fixed reserve banking system.

I agree with @EpsilonTheory that there is a constant *temptation* to go into debt at a societal level.

And sometimes a *necessary evil*, if a competing society is going into debt to buy weapons for example.

But the alternative model is much more reliance on equity than debt. https://t.co/CBhLvJXaZy

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 https://t.co/KP27dS8f9r

They're finally admitting it's a banking crisis.
That it was caused by Fed rate hikes, not tech.[1]
That there are 100+ insolvent banks, not one.[2]
That this is already beyond 2008 in key ways.[3]
And that printing is going literally vertical.[4]
This https://t.co/9voE044x94… https://t.co/KMsimMVS7Q https://t.co/HZ0cQyQqc5

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.… https://t.co/ZW7VzZzpfW

This is a response to this weird tweet by @thestalwart who has taken the unusual step of being reasonably cordial for ~5 years, then blocking and yet tweeting screenshots from behind a block.

It's weird because (a) I was clearly speaking about the broader set of depositors… https://t.co/FI8gJRmuzj https://t.co/lsASRtVDL7 https://t.co/3c5jNbimMy

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

Hyperinflation is going to change everything. It’s happening.

#bitcoin
#nostr: npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m

jack

We all knew this would come. So then it's about the timing. I am spending $1M publicly in BTC to show that I am serious about the timing.
https://t.co/h8EOmrjxPr

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