Meanwhile, more than 3,500 CEOs and founders representing some 220,000 workers signed a petition started by Y Combinator appealing directly to Yellen and others to backstop depositors, warning that more than 100,000 jobs could be at risk.
Bill, what do you think this portends for Old Glory bank...which is trying to be part of the parallel economy (at least ideologically)? oldglorybank.com I want to "my" "money" from Chase to OGB; but now I'm not sure it even matters.
Great article from the brilliant Jeffrey Tucker on Epoch Time (via Zero Hedge, of course). Money quote:
> A house of cards comes to mind. But perhaps a better metaphor is a game of billiards in which every move introduces a cascade of new issues. Lockdowns prompted immense government spending which produced debt that was quickly monetized and eventually caused inflation, prompting the Fed to reverse course with the largest/fastest rate increases in history.
FYI, SVB was as safe as any other fractional-reserve bank in the world. Just as safe.
Bill, what do you think this portends for Old Glory bank...which is trying to be part of the parallel economy (at least ideologically)? oldglorybank.com I want to "my" "money" from Chase to OGB; but now I'm not sure it even matters.
Great article from the brilliant Jeffrey Tucker on Epoch Time (via Zero Hedge, of course). Money quote:
> A house of cards comes to mind. But perhaps a better metaphor is a game of billiards in which every move introduces a cascade of new issues. Lockdowns prompted immense government spending which produced debt that was quickly monetized and eventually caused inflation, prompting the Fed to reverse course with the largest/fastest rate increases in history.
Link: https://www.zerohedge.com/markets/collapse-svb-portends-real-dangers