Crypto 360°

Monday, 13 March 2023

Sunday, 12 March 2023

Keep a minimal amount in bank accounts

Only put in banks what you can afford to lose. As for the rest, put in bitcoin

Bank failures?

:Everythingisfine.gif:

submitted by /u/cookmanager
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Silicon Valley Bank Collapse Leaves Blockchain VCs with $6 Billion in Assets

submitted by /u/azcoinnews
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source https://www.reddit.com/r/btc/comments/11oz33j/silicon_valley_bank_collapse_leaves_blockchain/

Personally affected by the SVB collapse..

We just witnessed the second largest bank collapse in US history, and most shareholders lost everything. I work at a Biotherapeutics startup where we are creating therapies to cure cancers with natural killer cells. My first one-on-one meeting with our CEO, we actually had a small argument over Bitcoin. He said it was like the old tulip bubble, I explained why that perception was completely wrong and said I actually don't trust the banking system. Our company's investments are held in this very bank, and we received an email regarding this.

More banks will suffer from the Fed's overreaching via quantitative tightening from the mass inflation caused by their own printing of trillions of fiat from thin air. The US debt ceiling has to be perpetually raised, and the dollar will perpetually be debased. When the banking system fails more, the government will pivot from raising interest rates and begin to cut rates and print more fiat to bail out the banks. Never ending cycle that inevitably makes fiat lose value. We've witnessed the bank runs in Greece, the hyperinflation in Turkey, Venezuela, etc. Jerome Powell and the Fed are intentionally creating economic slowdown that will bring recession and will print more money to keep the scheme going as a bandaid every time, its how our antiquated money system is set up, and the majority of our generations will suffer.

Simply holding cash means losing roughly 8-10 percent of its purchasing power each year. Fiat has infinite supply and is meant to debase into nothing, as it is backed by nothing. To quantify it, US banks have 17.6 trillion in deposits, only 3.1 trillion is backed by cash, with only 100 billion is backed by physical cash. Fractional reserves at its worst.

submitted by /u/TheHodlingHermit
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