allen on Nostr: I’m not sure I can be bothered tweeting this coz I don’t want to deal with the ...
I’m not sure I can be bothered tweeting this coz I don’t want to deal with the negative pushback, but equally I do want to vent so I can sleep soundly:
if you deposit in a fiat bank, you are an unsecured creditor. you are not a victim. the real victims are those furthest from the fiat spigot, who are persistently priced out of ever accumulating capital, and whose time will be stolen *yet again* to plug the gap of fake value destroyed by this latest round of insane leverage collapsing.
the idea that it is crass to be rooting for bank failures or opposing clear-cut short-term fixes has a certain sentimental appeal but is ultimately asinine.
THE BANKS ARE ALL GOING TO FAIL.
the longer it takes, the worse it is going to be for exactly the people who are harmed by it happening now. if you really care about them, you want this out of the way as quickly as possible. but the idea you can just close your eyes and procrastinate this all away is juvenile. it is arguably even *the cause* of the problem. this could have been dealt with at any point in the past 50 years, but no. we just kept borrowing more than it is possible to repay and consuming more than it is possible to produce.
at some point people need to learn to take responsibility. ignorance is not an excuse unless you are also willing to pay the entire price yourself, which, note, nobody whining about this is. you can tell because, if they were, they wouldn’t be whining.
“but I thought I was a depositor!” <> “I don’t give a fuck what you *thought* - you were lazy and you were wrong. and you are asking the already poor and already fucked over by your ignorance to pick up the tab for it *again*. learn what is actually happening and have the balls to fix it.”
feel free to quote me to anybody you think needs to hear that.
if you deposit in a fiat bank, you are an unsecured creditor. you are not a victim. the real victims are those furthest from the fiat spigot, who are persistently priced out of ever accumulating capital, and whose time will be stolen *yet again* to plug the gap of fake value destroyed by this latest round of insane leverage collapsing.
the idea that it is crass to be rooting for bank failures or opposing clear-cut short-term fixes has a certain sentimental appeal but is ultimately asinine.
THE BANKS ARE ALL GOING TO FAIL.
the longer it takes, the worse it is going to be for exactly the people who are harmed by it happening now. if you really care about them, you want this out of the way as quickly as possible. but the idea you can just close your eyes and procrastinate this all away is juvenile. it is arguably even *the cause* of the problem. this could have been dealt with at any point in the past 50 years, but no. we just kept borrowing more than it is possible to repay and consuming more than it is possible to produce.
at some point people need to learn to take responsibility. ignorance is not an excuse unless you are also willing to pay the entire price yourself, which, note, nobody whining about this is. you can tell because, if they were, they wouldn’t be whining.
“but I thought I was a depositor!” <> “I don’t give a fuck what you *thought* - you were lazy and you were wrong. and you are asking the already poor and already fucked over by your ignorance to pick up the tab for it *again*. learn what is actually happening and have the balls to fix it.”
feel free to quote me to anybody you think needs to hear that.