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No, I blame the executives at a poorly run bank. SVB execs knew the risks of having too many long term low interest securities. The Fed repeatedly warned SVB a

No, I blame the executives at a poorly run bank. SVB execs knew the risks of having too many long term low interest securities. The Fed repeatedly warned SVB about it's problems. SVB ignored internal recommendations until it was too late. If this was a systemic "fiat dollar" problem then many more banks would be failing.

mrguyorama 3y ago
Also, the "fiat dollar" system includes parts like "the justice system" that will attempt to resolve conflicts between independent parties in a fair way, and oversight system that attempts to push the value, use, and attributes of the fiat system in certain directions, which can be influenced by the democratic system, which isn't perfect but definitely exists, and includes the police system which ostensibly is there to protect your rights over any dollars you own, and a government system to offer you perks for taking part in the fiat dollar system (such as roads and other shit taxes pay for) and an economic system that assures you the availability of pretty much anything you want to trade for that fiat. Cryptocoin enthusiasts seem to look at all that, look at how it all isn't perfect, see how that imperfection allowed a big bad event (2008) to happen, and completely throw the baby out with the bathwater. They ignore how the imperfections in the system were intentional, based on misguided and purposefully inaccurate economic theory, that was broadly popular and pushed by the broad political system because of that popularity (literally democracy), and that it can be fixed. Instead, they want to replace it with a supposedly deflationary system (because gold bugs are still apparently taken seriously in their philosophies), where there is no such thing as property RIGHTS, because you only "have" what you physically control. This is considered a desirable property in fact. Then, this system is also DESIGNED, intentionally so, to profit a select few who already had significant resources. The system, by design, accrues more benefits to those who already have power or resources. Then they try to tell you that this system somehow benefits you, the normal person. It's insanity.
yieldcrv 3y ago
so apply that same standard to "crypto". where you blame the executives at a poorly run companies instead of the sector or asset class they happen to cater to. and the customers for putting up with it. mismanaged companies that make the headlines coexist with organizations that function well and make zero headlines "even" in the crypto space. the quotes because it shouldn't be surprising but its odd that this persistently low signal level of discourse is what's prevalent on this otherwise analytical community.

mrguyorama 3y ago

Also, the "fiat dollar" system includes parts like "the justice system" that will attempt to resolve conflicts between independent parties in a fair way, and oversight system that attempts to push the value, use, and attributes of the fiat system in certain directions, which can be influenced by the democratic system, which isn't perfect but definitely exists, and includes the police system which ostensibly is there to protect your rights over any dollars you own, and a government system to offer you perks for taking part in the fiat dollar system (such as roads and other shit taxes pay for) and an economic system that assures you the availability of pretty much anything you want to trade for that fiat. Cryptocoin enthusiasts seem to look at all that, look at how it all isn't perfect, see how that imperfection allowed a big bad event (2008) to happen, and completely throw the baby out with the bathwater. They ignore how the imperfections in the system were intentional, based on misguided and purposefully inaccurate economic theory, that was broadly popular and pushed by the broad political system because of that popularity (literally democracy), and that it can be fixed. Instead, they want to replace it with a supposedly deflationary system (because gold bugs are still apparently taken seriously in their philosophies), where there is no such thing as property RIGHTS, because you only "have" what you physically control. This is considered a desirable property in fact. Then, this system is also DESIGNED, intentionally so, to profit a select few who already had significant resources. The system, by design, accrues more benefits to those who already have power or resources. Then they try to tell you that this system somehow benefits you, the normal person. It's insanity.

yieldcrv 3y ago

so apply that same standard to "crypto". where you blame the executives at a poorly run companies instead of the sector or asset class they happen to cater to. and the customers for putting up with it. mismanaged companies that make the headlines coexist with organizations that function well and make zero headlines "even" in the crypto space. the quotes because it shouldn't be surprising but its odd that this persistently low signal level of discourse is what's prevalent on this otherwise analytical community.