IAmFrank (@iamfrank) • Hey
IAmFrank (@iamfrank) • Hey
Stats
Following: 19
Followers: 32
Publications
SVB, Credit Suisse & First Republic went from $100 billion in market cap to zero in a year time. 3 times as much as FTX and Terra/UST (biggest crashes in crypto by far) **combined**. This is how much "trad-fi" is safer for investors than crypto. The difference is that crypto had to stand strong on **its own** afterwards. For banks, its the tax payers and regular bank users (all of US citizens) have to pay *additional* bills to keep the house of cards standing and not let the other collapse. In this case, holding legit crypto is not only safer, but also morally correct. Trad-fi banking (FED included) is overly politicized and will not serve the people for much longer.
"Chancellor dismisses fears over Deutsche Bank" https://www.ft.com/content/963d8fde-1bd0-4285-98f4-715248119f2a ... "European Central Bank will continue to employ other instruments when the need arises" https://twitter.com/ecb/status/1413191874991566853 "ECB President pledges to act for financial markets if necessary" https://www.bloomberg.com/news/articles/2023-03-22/lagarde-pledges-robust-policy-with-ecb-ready-to-act-as-needed?leadSource=uverify%20wall#xj4y7vzkg
"Chancellor on the Brink of Second Bailout for Banks"