hh on Nostr: I personally think they purposely went after two banks that were critical to the ...
I personally think they purposely went after two banks that were critical to the crypto industry, not to destroy it, but to coopt it.
Either because they will now sell them for a buck to J Morgan or whoever, and thus control the infrastructure, or because the centralized exchanges will have no option but to work with FedNow once it's released.
The result is the same either way. The Fed will now control the exchanges and Circle. A possible counter is to just get the fuck out of the US and move to a less crazy jurisdiction... London calling?
Now, beyond this, if they can also cause the collapse of the "unwashed masses" of banking, i.e., the regional banking network, so they can crank up the consolidation another notch and fatten up their 5, 6 megabank cronies, that's also a very welcome outcome for them.
Finally, call it whatever you want to call it, but they're back at injecting hundreds of billions into the system, AKA causing massive asset inflation. Which is also good, because again, who profits from that? Blackrock and the rest, who have the money to out-buy everybody else.
So my personal bet is that they will keep at it for a while and will not ease up with the rates for now, while they simultaneously keep shooting themselves in the vein with more "liquidity".
Either because they will now sell them for a buck to J Morgan or whoever, and thus control the infrastructure, or because the centralized exchanges will have no option but to work with FedNow once it's released.
The result is the same either way. The Fed will now control the exchanges and Circle. A possible counter is to just get the fuck out of the US and move to a less crazy jurisdiction... London calling?
Now, beyond this, if they can also cause the collapse of the "unwashed masses" of banking, i.e., the regional banking network, so they can crank up the consolidation another notch and fatten up their 5, 6 megabank cronies, that's also a very welcome outcome for them.
Finally, call it whatever you want to call it, but they're back at injecting hundreds of billions into the system, AKA causing massive asset inflation. Which is also good, because again, who profits from that? Blackrock and the rest, who have the money to out-buy everybody else.
So my personal bet is that they will keep at it for a while and will not ease up with the rates for now, while they simultaneously keep shooting themselves in the vein with more "liquidity".