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Theme: The Who and Why of Bank Troubles


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  3. Bug report: “News Trends & Stories” link in the right column points to 2022, while the NTS link on top menu bar points to 2023 articles.

  4. China-style regulation of US internet?

    https://twitter.com/greg_price11/status/1640722365809147905

    https://www.congress.gov/bill/118th-congress/senate-bill/686/text?s=1&r=15

    https://dossier.substack.com/p/the-patriot-act-on-steroids-dc-uniparty

    https://beincrypto.com/vpn-users-risk-20-year-jail-sentences-us-restrict-act/

    https://old.reddit.com/r/TheDollop/comments/122gu0t/the_next_patriot_act_but_so_much_worse_bill_s686/

    TikTok staff changes: https://www.mintpressnews.com/nato-tiktok-pipeline-why-tiktok-employing-national-security-agents/280336/

    1. Data becomes a national security issue, so tech companies become subject to national security concerns. As data is ubiquitous, from simple internet use to more of the physical data collected from 5G platforms, everything related to data can be related to national security.

      One great reason to make legislation very broad and ambiguous is that it gives flexibility to the enforcement arm to pursue violations as they deem fit at the current moment. At any other moment, the priorities can be changed without needing new legislation. The policy pursued at the moment can be very specific, such as targetting one specific entity or specific industry. Or it can be not enforced at all. This is a very East Asian model of governance, ambigous laws with uneven enforcement.

      1. Opaque, uncertain and ever-changing “dynamic” policy is at the heart of CBDCs, kill switches, psy warfare and control systems.
        Since ambiguous legislation can neither be enforced nor judged consistently, it defeats separation of powers and undermines social contracts with the all-important karmic consent of the governed.
        https://scholarlycommons.law.northwestern.edu/cgi/viewcontent.cgi?article=1115&context=nulr

        The U.S. Constitution’s separation of powers has its origins in the British idea of the desirability of a Mixed Regime where the King, the Lords, and the Commons all checked and balanced one another as the three great estates of the realm. Aristotle, Polybius, Cicero, St. Thomas Aquinas, and Machiavelli all argued that Mixed Regimes of the One, the Few, and the Many were the best forms of regimes in practice because they led to a system of checks and balances.

  5. I thought that the CBDCs wouldn’t be ready for at least another year. Panic from the Central banks?

    1. George Gammon gives a great definition of CBDCs (on the Feds website) and clears up the fact that it is NOT a new unit of currency.

      “A CBDC is NOT a new form of money/currency issued by the Fed.

      Again, it simply means you have an account with the Fed and you’re using bank reserves as legal tender.

      IOW, base money becomes broad money.” — George Gammon

      If our deposits were transferred from our bank balance sheet to the Feds balance sheet that would make them a CBDC. The only thing needed is a central bank ledger system/software. You can see how these bank bailouts/bank runs could facilitate that process.

      https://www.youtube.com/live/nsAUXmIjU1o?feature=share

      1. That reserve money is not programmable per Carsten’s statement, so it isn’t the CBDC he was envisioning. The programmable CDBC is a new form of money.

    2. CBDCs are far from ready to go. Buy financial and payment systems capacity to do surveillance and control are increasing daily without CBDCs.

  6. An inspirational example of push back (hat-tip to UKColumn extra):
    Colchester (UK) residents present solid research on EV’s at their local council meeting in a very calm, measured and polite manner, also reminding councillors of their “duty of care” and liabilities.
    https://www.youtube.com/watch?v=H1b7nH8L5Ko

    1. That’s a fantastic video, well done to the residents who brought such facts to the attention of their local councilors. I thought the body language of the panel was extremely arrogant and dismissive.

    1. https://www.patreon.com/posts/79871723

      the Fed is at war with Eurodollars, both ‘real world’ and ‘crypto.’ This bank run was absolutely another hit job on ‘crypto’ but not Bitcoin.  

      SVB eurodollar deposits in branches outside of the US (e.g. Cayman) were of course not covered by US FDIC. What were the relative sizes of the US vs. non-US depositor base? What percentage of non-US deposits were withdrawn before collapse?

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