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Re:Binance sees $2B in outflows as troubles compound by beebmam on Tuesday March 28, 2023 @11:41PM (#35352118)
> Feds are desperately trying to cut off any exits from the mess they've created in the banking system

Do you have any evidence to support this large claim? Or do you simply wish for it to be true?

Re:Binance sees $2B in outflows as troubles compound by vishnugupta on Tuesday March 28, 2023 @11:53PM (#35352221)
Mostly circumstantial evidence. Regulators/feds have taken down one of the largest and most crypto friendly bank, Silvergate. Federal Reserve Board unanimously denied Custodia to be a member of Federal Reserve System.

And the latest Economic Report of the President[1] has a full chapter (Chapter 8) in which they make their stance clear in no uncertain terms.

[1] https://www.whitehouse.gov/wp-content/uploads/2023/03/ERP-20...

Re:Binance sees $2B in outflows as troubles compound by coolestguy on Tuesday March 28, 2023 @11:50PM (#35352199)
A 1 line throwaway designed to give you such a mountain of effort required as a response that a lack of response insinuates that what precedes it is untrue or a conspiracy

You can get your own evidence for his claim, starting points to look: previous banking crisises, why the latest banking crisis happened, how banks buy bonds/treasuries, how they are valued in relation to interest rates, how the fed controls interest rates & therefore bond valuations & therefore bank collateral, what a bank deposit from a customer really means for a bank, what fractional reserve is, how the COVID rules meant bank reserves had no minimum, why banking cannot possibly be solvent at a single point in time, what money is backed by, what happens if a bank breaks the rules, who decides if they break the rules & what incentive does that regulator have to actually crack down on crime (because their employees have higher aspiratations), how many US banks are consistency & constantly fined for fraud, how banks relied on fed interest rate guidance & how that relates to their duration mismatch of depsosits/investments

Re:Binance sees $2B in outflows as troubles compound by simple-thoughts on Wednesday March 29, 2023 @02:07AM (#35353254)
Exactly this. The financial system is designed to extract wealth globally and funnel it to well connected elites and the organizations they control. It’s not even a secret or a conspiracy, since all of the information is in the public domain. Rather the strategy is to maintain social stability, since for most people as long as their standard of living is stable or slightly improving, they won’t bother to take actions to defect from this system (such as buying assets that are not primarily in USD)