News for hackers. Stuff that matters.

A comment on Silicon Valley Bank unmasks the hypocrisy of libertarian tech bros. Parent comment

Re:Silicon Valley Bank unmasks the hypocrisy of libertarian ... by JumpinJack_Cash on Wednesday March 15, 2023 @10:21AM (#35168709)
> > Companies with large amounts of cash keep very little of that in bank accounts, it's in money market funds and other cash-equivalents.

Companies above a certain treshold (and all citizens for that matter) should be able to bank with the Fed, and have peace of mind that the money they deposit there is not being put to work in any way, shape or form.

What developed over the last week is a victory for those who long for CBDCs .

[ Parent | on HN ]
Re:Silicon Valley Bank unmasks the hypocrisy of libertarian ... by isignal on Wednesday March 15, 2023 @11:53AM (#35170214)
Companies can already buy recurring 3 month treasuries to hold their cash.
[ Parent | on HN ]
Re:Silicon Valley Bank unmasks the hypocrisy of libertarian ... by ac29 on Wednesday March 15, 2023 @01:49PM (#35172070)
> Companies above a certain treshold (and all citizens for that matter) should be able to bank with the Fed, and have peace of mind that the money they deposit there is not being put to work in any way, shape or form.

Banks being able to lend out money is generally considered a good thing though.

There certainly are alternatives though for depositors that want to have more control in how their money is put to work: money market accounts, short term treasuries, etc

[ Parent | on HN ]
Re:Silicon Valley Bank unmasks the hypocrisy of libertarian ... by JumpinJack_Cash on Wednesday March 15, 2023 @05:08PM (#35174733)
> > Banks being able to lend out money is generally considered a good thing though.

Banks are lending not their own money but depositors.

In a perfect world every citizen , small LLC and startup would be able to issue their own bonds if they need credit for purchases or entrepreneurial efforts

[ Parent | on HN ]