More Banks Will Fail
There are going to be many more bank failures as this ponzi system unravels. Unlike 2008, we have the ability to opt out of these broken and corrupt institutions by using bitcoin.
People forget Bear Stearns failed March 2008 - months of denial followed before the public realized how bad the situation was under the surface.
Similar happening now but much larger scale. They did not fix fundamental issues after 2008 - everything is more fragile.
The Fed preemptively bailed out every bank with their BTFP program and First Republic Bank still failed. The second largest bank failure in history.
There will be more failures. There will be more bailouts. Depositors will be "protected" by socializing losses across everyone.
Our President and mainstream financial pundits are currently pretending the banking crisis is over while most banks remain insolvent. There are going to be many more bank failures as this ponzi system unravels.
Unlike 2008, we have the ability to opt out of these broken and corrupt institutions by using bitcoin. Bitcoin held in self custody is unique in its lack of counterparty risk - you do not have to trust a bank or other centralized entity to hold it for you. Bitcoin is also incredibly difficult to change by design since it is not controlled by an individual, company, or government - the supply of dollars will inevitably be inflated to bailout these failing banks but bitcoin supply will remain unchanged. I do not need to convince you that bitcoin provides value - these next few years will convince millions.
If you found this post helpful support my work with bitcoin.
