More bank recues...

[paxmao]

Yep, Swiss Credit and Silicon Valley Bank. The markets are wondering very rightfully which one comes next. It seems that you need a financial crisis every 5 years of the FED and other start forgetting what are they there for. I am concerned about how this may end up, along with the effects on bitcoin - in the past a efuge, but now linked to other financial assets.

 

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[Cuenta Alternativa]

It seems that you need a financial crisis every 5 years of the FED and other start forgetting what are they there for. I am concerned about how this may end up, along with the effects on bitcoin - in the past a efuge, but now linked to other financial assets.

What do you think they are for?

In my opinion they are there to prop up the unsustainable, shoring it up as best they can whenever a foundation cracks. Since 1971 the monetary system has been based on pure faith, and the banking system on pure faith as well. All set up with a business model that if you set it up yourself they will put you in jail.

As for CS, the Swiss National Bank and the Swiss Financial Markets Supervisory Authority (FINMA) have come to Credit Suisse's rescue.

Another one that has been in doubt for a long time is DB, but if we think that to plug the hole we don't need anything tangible or real money but some liquidity and confidence to continue the ponzi, we can see that Mad Max is not going to happen any time soon. Too big to fail banks are going to be backed in one way or another by governments and central banks.

As for bitcoin, we recently saw that it reacted in the opposite way to what it had been doing since the inflation crisis. Until now, the price of bitcoin had fallen like other financial assets, mainly due to the liquidation of leverage and dragged down by the lack of confidence caused by scandals such as the FTX scandal. Recently, with the rescue of SVB and the prospect of a change in monetary policy, it has reacted differently to the stock markets, with a clear rise. But this has been a one-off for the time being. I would like to think that if things continue to go wrong in the banking system, this will favour bitcoin because people will buy more but to believe this I would have to see more times that banking or stock market crises favour bitcoin. 

[Fiatless]

Yep, Swiss Credit and Silicon Valley Bank. The markets are wondering very rightfully which one comes next. It seems that you need a financial crisis every 5 years of the FED and other start forgetting what are they there for. I am concerned about how this may end up, along with the effects on bitcoin - in the past a efuge, but now linked to other financial assets.

 

This is a clear indication that these banks are not trustworthy. The only difference between these banks and exchanges is that depositors or customers funds are safe according to the Federal Deposit Insurance Corporation. I just wish exchanges will be able to have such insurance that guarantees crypto funds in their custody. This would have helped to reduce the constant attack of the crypto sector by the government.

The rise in the price of Bitcoin this period is very surprising. This is a clear indication that Bitcoin will someday become quasi-independent from global economic influence. Bitcoin is just unpredictable.

[Macadonian]

Yep, Swiss Credit and Silicon Valley Bank. The markets are wondering very rightfully which one comes next. It seems that you need a financial crisis every 5 years of the FED and other start forgetting what are they there for. I am concerned about how this may end up, along with the effects on bitcoin - in the past a efuge, but now linked to other financial assets.

 

This is a clear indication that these banks are not trustworthy. The only difference between these banks and exchanges is that depositors or customers funds are safe according to the Federal Deposit Insurance Corporation. I just wish exchanges will be able to have such insurance that guarantees crypto funds in their custody. This would have helped to reduce the constant attack of the crypto sector by the government.

The rise in the price of Bitcoin this period is very surprising. This is a clear indication that Bitcoin will someday become quasi-independent from global economic influence. Bitcoin is just unpredictable.

It was confirmed that banks cannot be trusted in 2008 but I guess a lot of people already forgot about it. I do not understand why more people do not realize that banks are using their money to gamble with and make a profit and if some thing goes wrong the governments will bail them out because it would ruin the economy if so many defaulted loans were not covered.

[Gyfts]

The federal reserve as an interesting choice to make. They either keep raising interest rates and let banks continue to have liquidity issues and the banking system approaches collapse, or they grant these banks liquidity by halting the interest rates hikes by allowing the inflation crisis to get worse.

The domino effect of a single bank causing international turmoil tells you the system is rotten to its core.

[Macadonian]

The federal reserve as an interesting choice to make. They either keep raising interest rates and let banks continue to have liquidity issues and the banking system approaches collapse, or they grant these banks liquidity by halting the interest rates hikes by allowing the inflation crisis to get worse.

The domino effect of a single bank causing international turmoil tells you the system is rotten to its core.

There is no way they recover from it because it is how the fiat system is designed banks are one of the main things that make fiat systems and if they were to do any thing you suggest they will eventually collapse and it is why a lot of people have been predicting that the fiat system is on the brink of collapsing.

[DeathAngel]

The cynic in me says these kind of ‘crisis’ are orchestrated, artificial if you will. The only thing I know is that fiat banking systems have a shelf life & they're probably going to be in serious trouble a lot sooner than we think.

You are not here on this forum by accident. It’s because you are a critical thinker, different to the average guy. Protect your net worth, buy bitcoin & store them in self custody.

Be your own bank.

[BADecker]

The cynic in me says these kind of ‘crisis’ are orchestrated, artificial if you will. The only thing I know is that fiat banking systems have a shelf life & they're probably going to be in serious trouble a lot sooner than we think.

You are not here on this forum by accident. It’s because you are a critical thinker, different to the average guy. Protect your net worth, buy bitcoin & store them in self custody.

Be your own bank.

Having a secure, physical Bitcoin method might bring Bitcoin into realistic usage... you know, a real Bitcoin coin.

[tvbcof]

The cynic in me says these kind of ‘crisis’ are orchestrated, artificial if you will. The only thing I know is that fiat banking systems have a shelf life & they're probably going to be in serious trouble a lot sooner than we think.

I briefly skimmed mainstream news a couple times, and it made me pretty suspicious.  Normally an outfit like CNN would be doing everything possible to maintain CONfidence in the banking system con.  This time it seems like CNN (in particular) is doing the opposite.  All the headlines seem to be trying to get a panic going.  To be fair, it seems that CNN stands out as the primary offender and it isn't a totally across-the-board thing.

My suspicion is that this is about trying to spook the sheep into both playing a role in a collapse of some sort if they can pull it off, and even if not, try to pave the way for the next monetary regime.  CBDCs fairly obviously.  They have already done a lot toward destroying faith any form of quasi-Democracy by installing people like the geriatric pedophile in the U.S. precedence and the coke-head actor/comedian in Ukraine.  As far as I can see, most counties have their own versions as well.  Alas, this will probably work and a lot of people will fall into the trap when they role out the technocracy 'solution'.

You are not here on this forum by accident. It’s because you are a critical thinker, different to the average guy. Protect your net worth, buy bitcoin & store them in self custody.

Sounds nice and makes some sense, but all one has to do is read the thing for a while to become totally disabused of this quint notion.  Some of the most ridiculous retards I've ever run across frequent this place.  Some are probably amateurishly coded bot experiments, and some are probably paid trolls, but I think there are a fair contingent of flesh-n-blood people who really are simply quite low-functioning.

Be your own bank.

Better late than never.

[Hispo]

Another one bites the dusts...
The dangerous part in all this situation is that the trust in the banks could be again put at stake by the general population who does not hold Bitcoin, pushing people to run for their money and the liquidation of assets in order to get enough cash for them.

If more banks continue this trend, only the biggest fish of the tank could be remaining ones in the end, when the dust settles, which would translate in more centralization of the traditional system of banking.

Also, I believe you are spot on. With the current correlation of Bitcoin to some stocks, would mean Bitcoin may suffer from whatever could happen next.

Let us hope for the best and prepare for the worst this year.

[OgNasty]

The way that they’re bailing out these banks shows that they’ve learned a thing or two since the 2008 crisis. The question is how much pain does the Fed want to inflict on the economy before they feel like they’ve done enough to combat inflation. It seems like they’re not quite done yet, even though everybody is ready for the bank failures to stop.

[BADecker]

Bank rescues mean more free money for the banks. This means more inflation for the people. More inflation means the dollar becomes worth less. When the dollar is worth less, Bitcoin becomes worth more. The price of Bitcoin goes up, which really means the value of the dollar is going down.