piccolo on Nostr: Don’t believe the headline. If a more ‘systematically’ important institution in ...

Don’t believe the headline. If a more ‘systematically’ important institution in addition to SVB were at risk, can bet ur ass that bailouts will come. Just look to 2008-09 where Bear Stearns and Lehman were allowed to fail (and taken over), whereas firms like AIG, GE, GM, etc. were subsequently deemed too big to fail and bailed out with taxpayers’ money. Eerily familiar scenes and narratives.

Like I’ve said to several people last year, 2023-2024 will be statistically worse than 2008-2009, but it will ‘feel’ anecdotally better to most people since we’ve been primed with COVID, lockdowns, hyperinflation, etc.

Fortunately, this time around, those of us (who see) have #Bitcoin. So HODL on and GFY to the fiat-cucked narrative spinners.

https://www.reuters.com/markets/us/yellen-working-address-svb-collapse-not-looking-bailout-2023-03-12/