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| EEVblog:
So the US federal government shuts down a Signature Bank and stipulates that the bank that buys it not be involved in crypto in any way? (presumably also going forward?) How is this not a direct federal government attack on the crypto industry? CBDC conflict of interest much. The rug pull is in plain sight. https://www.coindesk.com/policy/2023/03/16/signature-banks-prospective-buyers-must-agree-to-give-up-all-crypto-business-report/ |
| james_s:
--- Quote from: ejeffrey on March 16, 2023, 06:05:56 am ---If you are suggesting that banks not lend or invest depositors money, including longer term investments that would be tremendously unhelpful, defeat the purpose of banks and more or less permanently end economic growth. If you are saying that we shouldn't let banks write the rules on risk management for banks, then I totally agree. --- End quote --- What if they were to limit the rate at which money could be withdrawn? I suppose that would cause all manner of other problems. The problem happens when too many people withdraw too much too rapidly. |
| iMo:
--- Quote from: james_s on March 16, 2023, 07:08:26 am --- --- Quote from: ejeffrey on March 16, 2023, 06:05:56 am ---If you are suggesting that banks not lend or invest depositors money, including longer term investments that would be tremendously unhelpful, defeat the purpose of banks and more or less permanently end economic growth. If you are saying that we shouldn't let banks write the rules on risk management for banks, then I totally agree. --- End quote --- What if they were to limit the rate at which money could be withdrawn? I suppose that would cause all manner of other problems. The problem happens when too many people withdraw too much too rapidly. --- End quote --- That is a common practice, at least in Europe. They also limit/stop withdrawals from ATMs first. The problem is whether the bank's bosses are ready to make this kind of decision early enough, as the setting the limits actually publicly indicates the bank is a crap. |
| wilfred:
--- Quote from: EEVblog on March 16, 2023, 07:06:14 am ---So the US federal government shuts down a Signature Bank and stipulates that the bank that buys it not be involved in crypto in any way? (presumably also going forward?) How is this not a direct federal government attack on the crypto industry? CBDC conflict of interest much. The rug pull is in plain sight. --- End quote --- Wasn't the whole point of crypto so those involved in crime and money laundering could do it safely hidden from bank system regulation? When ordinary bank depositors are at additional risk from crypto rot in the banking system they might be glad of the no crypto edict. |
| EEVblog:
--- Quote from: wilfred on March 16, 2023, 07:51:16 am ---Wasn't the whole point of crypto so those involved in crime and money laundering could do it safely hidden from bank system regulation? --- End quote --- No. It was so individuals could be free from central banking fiat systems. Blackchain based crypto by its very nature is 100% traceable, that's the point of it. Criminals have to jump through a lot of hoops to avoid detection using it. --- Quote ---When ordinary bank depositors are at additional risk from crypto rot in the banking system they might be glad of the no crypto edict. --- End quote --- That's not the real reason though. |
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