Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
"I have them in a ISK" Oh no not the double your ISK scam from eve online 
you people ready for the fire sales? Maybe as a xmas present, maybe Q1 2023, maybe next week who knows but the people forced to push the button.
About anyone being a hero and pretending to be a lender of last resort, know that "for last resort lending to work, borrowers must be solvent" (Bernanke. 21st century monetary policy)
As for the current situation, another quote in his book (which is quite good) is appropriate: parenthesis are mine
"...The crisis followed the usual sequence of a classic financial panic: a buildup in risky lending (DEFI, lmao shitcoin collaterilized loans), followed by a loss of investor confidence in the soundness of those loans; runs on the lending institutions by short-term funding providers (we just passed this); forced fire sales of troubled assets (shitcoins), contributing to sharp asset price declines; and insolvencies of lenders and borrowers, extending the downward spiral (we may be at the extending point).
In short, central banks exist for a reason. If you want to play pretend financial system with made up shitcoins, daddy Bernanke won't be there to save ordinary people. No one will. If I find out a serious institution accepted shitcoins as collateral for real world loans, I swear i'm gonna find another planet to live on.
you people ready for the fire sales? Maybe as a xmas present, maybe Q1 2023, maybe next week who knows but the people forced to push the button.
About anyone being a hero and pretending to be a lender of last resort, know that "for last resort lending to work, borrowers must be solvent" (Bernanke. 21st century monetary policy)
As for the current situation, another quote in his book (which is quite good) is appropriate: parenthesis are mine
"...The crisis followed the usual sequence of a classic financial panic: a buildup in risky lending (DEFI, lmao shitcoin collaterilized loans), followed by a loss of investor confidence in the soundness of those loans; runs on the lending institutions by short-term funding providers (we just passed this); forced fire sales of troubled assets (shitcoins), contributing to sharp asset price declines; and insolvencies of lenders and borrowers, extending the downward spiral (we may be at the extending point).
In short, central banks exist for a reason. If you want to play pretend financial system with made up shitcoins, daddy Bernanke won't be there to save ordinary people. No one will. If I find out a serious institution accepted shitcoins as collateral for real world loans, I swear i'm gonna find another planet to live on.