Bienvenidos mis ositos, tu siempre eres mis queridos! (Welcome back little bears you are always my dears!)
Technically what happened to Silvergate Bank and Silicon Valley Bank weren’t Black Swans. Part of this was due to incompetence and
We’re seeing shadows and signs of black swans.
That means we still have some time to shore up our emergency reserves. We also have time to buy or renew insurance policies on our valuables.
By the time we actually see the Black Swan land we will be too late.
Sure, the Black Swan droppings are annoying to clean up now, but we can use them as important warning signs.
Earlier in the year I had a suspicion about the TradFi space, unfortunately some of my fears have started to come true:
https://www.publish0x.com/how-to-transition-from-tradfi-to-defi/tradfi-has-a-serious-problem-but-defi-can-t-capitalize-xwyeeyp
For now the Fed, Treasury and the FDIC have slapped a bandage on the financial system.
There’s bailouts for TradFi, however there are no bailouts in crypto.
Look at what happened to Signature Bank. Their financial statements seemed steady. Though they were TradFi, at least they were friendly to crypto firms.
Of course, our government masters couldn’t have that. They need to ring fence the plebs into the “safe” US financial system.
Make no mistake, this was a Government drive by:
Signature Bank got the Sonny Corleone treatment:
“Look How They Massacred My Boy”
USDC could be an ally for them but either they are too old or too stupid to realize this. After all USDC is just a digital version of the US dollar and US Treasuries.
Instead of letting Circle/Coinbase/USDC enhance the US Dollar on the world stage, government clowns are strangling them!
Then they say they are doing it to “protect” the average consumer or investor!
Unbelievable!
Crypto industry lobbyists (ugh) need to unseat politicians that are hostile to crypto.
Sadly pro-crypto lobbyists and politicians are few and number.
It’s not a bad idea to grab some Bitcoin while you still can. Of course transfer it to your hardware/private wallet as soon as you can.
Also consider stocking up on cash, food, fuel, ammo, and other necessities BEFORE another panic sets in.
You don’t want to depend on anyone when a huge heap of poop hits the fan,
If the government wants to ban crypto just do it already!!!
What is the point of all this passive aggressive bullying?
Don’t forget that the United States hasn’t raised its debt ceiling yet.
Could there be another US credit downgrade?
What else do they have planned and what else is going to blow up?
Mary Antoinette once told the masses to eat cake when they were starving.
Modern day elites have told us to eat sh!t.
Then they wonder why the people are angry.
Could a revolution be brewing underneath the service?
Obviously none of this is formal financial or tax advice. You need to find qualified professionals in your jurisdiction.
Be sharp, stay hungry let’s get that money!
