But Caller Bob said $4-$5 eggs was Biden's fault.

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I am not a banking nor finance expert. I do find it very strange from my way of thinking that whether the economy is soaring or in recession savings account rates blow. The fed politicians and Wall ST, do all sorts of things over 20 years and bless you with your 0.05% return.

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Elections have consequences.

Who stayed on the farm?

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How close is that to Hunter Biden is the smartest man I (Joe Biden) knows?
Noisewaters are a successful bunch.

I’m surprised we haven’t seen legislation mandating that banks pay a rate closer to Fed Funds. It’s pretty easy today to earn 3.5%+ in a savings account (in a non-Jamie Dimon bank). But banks know most people are too lazy to open a new account.

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Banks go broke over a 5% interest rate? Seems unprecedented. How weak can they be that a couple points can upturn their world. Pretty damn weak, I guess.

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Ecclesiastes 5:8

Barney Frank, of all people, laying the wood.

SVB had a buyer or buyers and Signature wasn't even in trouble. Regulators making sure banks know crypto is naughty. Of course, none of this should bother a particular crypto, Bitcoin.

In hindsight, SVB was clearly vulnerable to a run. 95% uninsured deposits and a predominantly tech savvy client base.

What the government failed to do (so far) is specify which institutions’ customers will be made whole (above $250k) when this happens again. SVB mostly had legit assets backing the deposits, but due to mismanagement of duration, they couldn’t pay everyone immediately (most banks wouldn’t either with a run of that magnitude). But what if the bank couldn’t pay because they lost their ass due to bad loans or crypto trading? Should their uninsured depositors also be rescued?

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That's what these people don't understand. They can't kill Bitcoin. Warren Buffett and Charlie Munger are the greatest investors of the 20th Century, extremely smart guys, and they can't understand Bitcoin. Bitcoin will exist long after the U.S. Dollar is obsolete.

It's like Pandora's Box. You can't uninvent Bitcoin. It exists. Attacks on Bitcoin are attacks on The People.

The simplest way to handle this is to get together at Davos and accept Bitcoin as the world's currency. Instead, they're going to kick, gouge, and scratch to maintain power and each country will establish its own crypto and it will be used to influence behaviors and control The People until The People revolt, which they will.

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Ecclesiastes 5:8

Bitcoin when a bank fails: “oh my God, why are you guys, like, so obsessed with me?”

I’m not saying the community is exactly the same as AOC, but I wouldn’t be shocked if there were some allegations that the Fed almost murdered the Winklevoss bros.

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I was always a Gemini guy, but the Winklevii are on my shitlist. They should be making good on their "Gemini Earn" program that went down with Genesis, but instead they're just throwing up their hands and acting like the bankruptcy has nothing to do with them, as if they're just victims like their investors. Fuck them. Use Coinbase.

Anyway, I find it interesting that so many people, including some of the smartest, most powerful people on the planet, completely miss how monumental Bitcoin is and how it is going to reorder the globe. I assume it's similar to when people scoffed at Henry Ford tooling around Detroit in his Quadricycle while they were watering their horses.

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Ecclesiastes 5:8

Governments need a way to tax people and fund operations. How do you do that with bitcoin?

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It's not like there will cease to be a record or mandatory reporting for businesses and individuals. Some people duck taxes by dealing in cash right now.

But ultimately, the killer app of Bitcoin is that it will end governments as we have known them. That obviously isn't going to happen tomorrow, probably not in the lifetime of anyone reading this, and I'm not sure what replaces the current paradigm. It might be terrible.

So maybe the people trying to destroy Bitcoin do understand its power.

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Ecclesiastes 5:8

Bitcoin isn’t a viable currency given its lack of transaction processing speed. There’s no way to fix that without undermining the whole process.

Blockchain central bank currencies may replace what we have, but the thought of a centralized digital currency is far more terrifying than what we have today.

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There will ways to address that issue. Certainly many people are working on it.

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Ecclesiastes 5:8

No doubt. It should be completely unacceptable to The People. It will speed the world into a new Dark Age, which I believe may have already begun.

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Ecclesiastes 5:8

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Proud member of the white guy grievance committee

It aint the six minutes. Its what happens in those six minutes.

Has Credit Suisse being run by a woke/DEI/minority mob been discussed? How about the 1929 Great Depression and 1989 S&L Crisis being caused by them too?

Meta tickling $200. Thanks Mark.

Credit Suisse has been a mess for years, multiple scandals.

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Hawaii (fuck) You

What about the 20K people that lost their jobs, denis?

Hope they own shares.

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Hawaii (fuck) You

I respect the leaning into it.

$203. Can they dump another 20k? J/k lol.

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Hawaii (fuck) You

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Ecclesiastes 5:8

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"I honestly don't see a good bet on the board here."

Clever

I don’t get it

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Obama.

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"Play until it hurts, then play until it hurts to not play."
http://soundcloud.com/darkside124 HOF 2013, MM Champion 2014