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MainStreetChungus
mainstreetchungus@nostr.report
npub1pvuu...d7a5
https://nostr.report ⚡️Bitcoin ⚡️ | Meme afficianado 🌎👩‍🚀🔫👩‍🚀 | Fiat 💵 Miner ⛏️
MainStreetChungus's avatar
MainStreetChungus 2 years ago
Federal Reserve Board publishes its order denying the application by Custodia Bank: "In general, the Board has heightened concerns about banks with business plans focused on a narrow sector of the economy. Those concerns are further elevated with respect to Custodia because it is an uninsured depository institution seeking to focus almost exclusively on offering products and services related to the crypto-asset sector, which presents heightened illicit finance and safety and soundness risks." But being rug pulled by the FED on Treasuries is cool. Just sayin'
Board of Governors of the Federal Reserve System
Federal Reserve Board publishes its order denying the application by Custodia Bank, Inc., to be supervised by the Federal Reserve
The Federal Reserve Board on Friday published its order denying the application by Custodia Bank, Inc., of Cheyenne, Wyoming to be supervised by th...
MainStreetChungus's avatar
MainStreetChungus 2 years ago
When does the MSM start blaming nostr for encouraging bitcoin - causing bank liquidity problems just like they blamed Reddit for encouraging people to buy GME - causing a run on Citadel?
MainStreetChungus's avatar
MainStreetChungus 2 years ago
Balaji’s on point here saying “The question is how to get out. Fed is launching their CBDC in July. You have about 90 days to exit. After that, you’re trapped.”
X (formerly Twitter)
Balaji (@balajis) on X
The infinite money is here. How we got here is a matter for history. The question is how to get out. Fed is launching their CBDC in July. You have ...
 Just today I listened to a podcast where Cem Kansan rather nonchalantly says that banks may have to put withdrawal limits to slow the rate at which people can take money out of the bank for “the health of the system.”
Fountain
Fountain
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 Banks are no stranger to slowing bank runs. “In the 19th century, when bank runs were common in the U.S., banks who feared a run would have employees and relatives line up in front of the tellers and make tiny deposits or withdrawals, to pass the time until the bank closed. “ https://www.npr.org/sections/money/2012/06/12/154719542/three-ways-to-stop-a-bank-run Point being that we need to be prepared, the banks will team with government, in the face of a calamity, and will likely put restrictions on your money “for the good of the system.” It will be Covid all over again but with banks. I will have a Plan B ready 🟠
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