Are surpressed assets finally going to break free of the choke-hold of paper manipulated prices? In my opinion it is possible because banks are covering each other to prop up this ponzi sceheme. Imagine taking loans, loaning out the loans, and loaning the loans of the loans to the loaners.
OMG what a ridiculous ponzi scheme! This is literally what is happening with Republic Bank. Other banks are covering Republic Bank loans! So if this is happening and liquidity is drying up with more Trillions coming from the FED..
Dominos is a fun game! People aren't going out taking more loans! It's distressed, everything is distressed. Inflation is not going to create more credit when interest rates go higher! This needs to be understood! SINCE 2008 the system has been propped up, and then COVID handouts made the inflation mainstream and no longer brushed under the carpet.
I don't care what asset you want to be in! Why BeAr! WhY #GOLD wHY #Silver?!
BECAUSE IT IS REAL MONEY!
If you believe crypto is the way, then so be it! I like touching, feeling, HIDING my asset. I don't want to rely on paper seed phrases simply because people need to identify with REAL MONEY. Yes I have some #BTC, but it is a baby! It will grow for easier international payments, but at the same time central banks with the backing of government are losing control and therefore will choke off any digital freedom.
Leaving the country internationally? I'll bribe with gold, and perhaps go to a country that accepts crypto! So get out with the physical, take your wealth in the digital. I don't care! Just have something to prepare yourself for the evil that is befalling this world.
https://www.piratewires.com/p/crypto-choke-point
On Dec. 6, Senators Elizabeth Warren, John Kennedy, and Roger Marshall send a letter to crypto-friendly bank Silvergate, scolding them for providing services to FTX and Alameda research, and lambasting them for failing to report suspicious activities associated with those clients
On Dec. 7, Signature (among the most active banks serving crypto clients) announces its intent to halve deposits ascribed to crypto clients — in other words, they’ll give customers their money back, then shut down their accounts — drawing its crypto deposits down from $23b at peak to $10b, and to exit its stablecoin business
On Jan. 3, the Fed, the FDIC, and the OCC release a joint statement on the risks to banks engaging with crypto, not explicitly banning banks’ ability to hold crypto or deal with crypto clients, but strongly discouraging them from doing so on a “safety and soundness” basis
On Jan. 9, Metropolitan Commercial Bank (one of the few banks that serve crypto clients) announces a total shutdown of its cryptoasset-related vertical
On Jan. 9, Silvergate stock falls to a low of $11.55 on bank run and insolvency fears, having traded as high as $160 in March 2022
On Jan. 21, Binance announces that due to policy at Signature bank, they will only process user fiat transactions worth more than $100,000
On Jan. 27, the Federal Reserve denies crypto bank Custodia’s two-year application to become a member of the Federal Reserve system, citing “safety and soundness” risks
On Jan. 27, the Kansas City Fed branch denies Custodia’s application for a master account, which would have given it the ability to use wholesale payment services, and to hold reserves with the Fed directly
On Jan. 27, the Fed also issues a policy statement which discourages banks from holding cryptoassets or issuing stablecoins, and broadens their authority to cover non-FDIC insured state-chartered banks (a reaction to Wyoming Special Purpose Depository Institutions (SPDIs) like Custodia, which can hold crypto alongside fiat for its banking customers)
On Jan. 27, the National Economic Council releases a policy statement not explicitly banning banks from serving crypto clients, but strongly discouraging banks from transacting with cryptoassets directly or maintaining exposure to crypto depositors
On Feb. 2, the DoJ’s fraud unit announces an investigation into Silvergate over their dealings with FTX and Alameda
On Feb. 6, Binance suspends USD bank transfers for retail clients (Binance US was not affected)
On Feb. 7, the Jan. 27 Fed statement is entered into the federal register, turning the policy statement into a final rule, with no Congressional review, or public notice-and-comment period
As of Feb. 8, Protego and Paxos’ applications to follow Anchorage and obtain full approval to become National Trust Banks are still outstanding (past the 18 month deadline), and appear likely to be imminently denied by the OCC
Here we are March 17th! Look into Signature Bank! It has nothing to do with insolvency. Know your enemy. Know that even GOLD and SILVER will be under attack, but you know what? A farmer is more than likely to know about Gold and Silver rather than crypto. A quick drive north and hey I don't have digital slave bucks, but I have a shiny coin. Melt it down or trade it for yourself! Jewelry is not going to go away. People aren't going to wear seashells!
So decide for yourself what your hedge will be in the ultimate fiat ponzi scheme. Everyone is right twice around the clock. Perhaps it's the precious metals and even crypto that will win.
