Quote from: paxmao on Today at 01:00:57 AM

It seems that you need a financial crisis every 5 years of the FED and other start forgetting what are they there for. I am concerned about how this may end up, along with the effects on bitcoin - in the past a efuge, but now linked to other financial assets.

What do you think they are for?

In my opinion they are there to prop up the unsustainable, shoring it up as best they can whenever a foundation cracks. Since 1971 the monetary system has been based on pure faith, and the banking system on pure faith as well. All set up with a business model that if you set it up yourself they will put you in jail.

As for CS, the Swiss National Bank and the Swiss Financial Markets Supervisory Authority (FINMA) have come to Credit Suisse's rescue.

Another one that has been in doubt for a long time is DB, but if we think that to plug the hole we don't need anything tangible or real money but some liquidity and confidence to continue the ponzi, we can see that Mad Max is not going to happen any time soon. Too big to fail banks are going to be backed in one way or another by governments and central banks.

As for bitcoin, we recently saw that it reacted in the opposite way to what it had been doing since the inflation crisis. Until now, the price of bitcoin had fallen like other financial assets, mainly due to the liquidation of leverage and dragged down by the lack of confidence caused by scandals such as the FTX scandal. Recently, with the rescue of SVB and the prospect of a change in monetary policy, it has reacted differently to the stock markets, with a clear rise. But this has been a one-off for the time being. I would like to think that if things continue to go wrong in the banking system, this will favour bitcoin because people will buy more but to believe this I would have to see more times that banking or stock market crises favour bitcoin.