As I just got on YouTube: “want to be a consistent trader? Then stop doing this! (Video of drawing triangles)”
I cut it off at that point, but it’s hilarious that even the scam ads are now neging the triangle drawers
David Short
npub1fl8y...eqxm
Product Manager | businessbooksandco.com podcast co-host | Bitcoin
“We no longer state that we anticipate ongoing rate increases will be appropriate” - JPow
50bps is trending for me
I assume 25
I just saw an ad for QQQ
The crisis continues
If Switzerland can’t backstop one of their 2 biggest banks with over a trillion in assets, that’s a different situation than Silicon Valley and crypto banks are struggling
What’s the fed going to do?
If there are more global bank collapses before Wednesday, who knows
What’s the difference between an orphan block, a stale block, and a reorg?
Saw someone throwing up on the street in Astoria at 4:50pm ET on St Paddy’s Day
New York is back
Photos on Damus! 
JP Morgan, Bank of America, Goldman Sachs, and 8 other large banks have deposited $30 BN at First Republic to seek to stop fourth bank failure this month
It’s a pretty incredible move. Wonder if the fed gave any back room commitments that those funds would be guaranteed if there was a collapse
I’ve been watching the Three-Body tv series from Tencent, based on The Three-Body Problem book trilogy. It’s an incredibly faithful adaptation of the books, which I’m enjoying. If you’ve never read Chinese literature, there’s something really unique about SciFi with a perspective that tends to be much less protagonist focused.
The funniest thing though, is that I now get YouTube ads in Chinese. Most recently, I even got an ad clearly targeted at Chinese-American parents for a Kumon style online learning to get your kids into a top university. Years of using YouTube, and 10 hours of watching a Chinese show and their algo is totally confused.
I’m seeing a lot about the FedNow launch as it approaches…NACHA RTP has been available for 5 years and was 2.5 bps of the volume of ACH last quarter. Maybe it’s because everyone knows the fed is coming, but it seems like banks aren’t implementing real time settlement with any urgency.
Fractional reserve banking means that no bank can survive a run unless deposits are insignificant to their overall liabilities. Even if all the bank did was mortgage lending, they wouldn’t be able to pay every depositor if they showed up at once because the mortgage is going to take 15-30 years to pay back. Duration mismatch is the fundamental nature of fractional reserve banking.
First ad in Oddlots pod on SVB is “earn 5.1% with the safe, reliable yield on US treasuries”…an episode about a bank collapse in part due to safe reliable treasury investments. Retail doesn’t get access to BTFP if rates keep raising and they need cash before treasuries mature
Dan Davies On What Brought Down Silicon Valley Bank
For those wondering how FDIC works, banks are charged a bps fee based on an assessment of their risk and the size of the institution
FDIC Assessment Rates | FDIC.gov
Current FDIC assessment rates
Go fuck yourself, Mr. In. Charge
If you have less than $1MM in cash, you should have it distributed across 4 banks for FDIC coverage. If you have a lot more than that, probably still just split across 4 banks. Don’t spend your whole life managing esoteric risk, but do the easy things to avoid catastrophic loss.
NY Attorney General has filed suit against Kucoin over sale of illegal securities, including ETH.
Goes into detail on the ICO as well as staking as reasons for ETH as an investment contract.
https://www.docdroid.net/Myyp0yz/kucoin-pdf
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