Credit Suisse was bailed out after crash, and Bitcoin broke through 28,000. How many people were dumped off the car?
After a brief see-saw around $27,000 overnight, Bitcoin did not wait for two days like 3/15-3/16, but went straight to $28,000 and broke through, reaching a maximum of around $28,400.
The Credit Suisse crash incident at the weekend finally had an explanation. Under the mediation of the Swiss government, UBS agreed to acquire Credit Suisse for US$3.2 billion and assume all debts. The Swiss National Bank will provide a "dowry" of 100 billion Swiss francs (about 108 billion U.S. dollars, 700 billion RMB) after the merger. After the government came forward to rescue, Credit Suisse's additional shares with a nominal value of more than 17 billion U.S. dollars (credit suisse shareholders were allowed to convert credit suisse shares into UBS shares in advance at the time of mergers and acquisitions) will be completely "zeroed" (written off).
It is said that Credit Suisse's liquidity loss in the fourth quarter of last year alone was as high as about 700 billion RMB. In addition, some time ago, the Saudi major shareholder suddenly stated that it would not continue to provide financial support, and it was on the verge of collapse overnight.
That night, Credit Suisse heard the singing of the desert camel bell: That night, I broke up with you. That night, I hurt you. That night, your face was full of tears. That night, you got drunk for me. It's no accident, Nor is it a wish, This is God's arrangement for printing money.
"2009/1/3 The Times The chancellor is on the verge of saving the bank again." This historical prophecy eternally engraved in the Bitcoin genesis block has echoed for a long time and will never be forgotten.
Remember what the "crazy" Balaji said: Any central bank in the world that follows the Federal Reserve will inevitably fall into the same ending as the Federal Reserve.
One the way taking the children to kindergarten in the morning. He asked me if Bitcoin has risen again? I said yes, it has broken through 28,000.
He said, is the dollar devalued again? I said yes, because the bank went bankrupt.
He asked what is bankruptcy? I said that bankruptcy means losing money and leaving a big hole.
I went on to say that the bank lost the money and created a big hole, and the country (the United States) printed money to help the bank fill the hole; if more money was printed, the dollar would be worthless.
It's like saying that there were originally 10 dollars and 10 steamed buns. 1 dollar buys a steamed bun. Now the United States prints 10 more dollars, which becomes 20 dollars, but the steamed buns are still 10 steamed buns, so 1 dollar can only buy half a steamed bun. understand?
The child said, I understand, if $100 is printed, it will cost $10 to buy a steamed bun.
I said yes. No one can print more bitcoins, so it preserves its value. Now you know?
The kid said, got it.
Driving the car, I sighed, Bitcoin has risen so rapidly recently, I don’t know how many people will be dumped off the car again.
The kid sitting in the back asked after hearing it, what does it mean to be "dumped off the car"? I said, being dumped off the car is a metaphorical way of saying it. That is, many people sold their bitcoins, and then bitcoins rose, and they couldn't catch up.
Just like you are sitting in a car now, the car drives forward, and you move forward without running. What if you don't sit in the car? The car was parked for a year last year, you opened the door, got out and peed. As a result, the car drove away and you couldn't catch up.
After hearing this, the children said that as soon as many people sold their bitcoins, the bitcoins went up.
I said yes. So, what is the most important thing? Just keep sitting in the car. After parking the car and peeing, come back quickly. Got it?
The kid said, I understand.
Children understand, but many older friends do not necessarily understand. Many times, we accumulate experience and knowledge in the first half of our life, which precipitate into stereotypes and prevent us from understanding and accepting new things in the second half of our life.
Some foreign analysts tracked private aviation trajectories and found that there were many business jets flying to and from Omaha on weekends. From this, they speculated whether the bankers who were on the verge of collapse concentrated on visiting Mr. Buffett to discuss countermeasures and even ask for help.
According to media reports, senior officials of US President Biden are also actively communicating with Buffett to discuss a good way to save the financial market.
Hundreds of central banks around the world are waiting for the banks to crash.
Just as former U.S. Treasury Secretary Connally said: The U.S. dollar is our currency, but it is your problem.
Everyone can calculate how much of the money they have earned through hard work has been lost due to excessive currency issuance and inflation.
Not to mention the wage gradient (the Cantillon effect) due to the difference in distance from the "faucet" Fed. The annual salary of an American engineer is 200,000 US dollars, and the annual salary of a Chinese engineer with the same ability becomes 200,000 RMB, one-seventh.
In fact, you don't need to get better and work harder to achieve financial freedom - just saving the above two types of losses is enough.
Exit from USD (and other fiat currency systems connected to USD). Exit to Bitcoin.
Those who save themselves will eventually be saved.
Extra: The full book of "History of Bitcoin" has been released on leanpub https://leanpub.com/history-of-bitcoin , and opensea https://opensea.io/assets/ethereum/0x495f947276749ce646f68ac8c248420045cb7b5e/105485037225361479373965289160919783096944397316814880893051094763402285810664
nostr: npub1dlwqsauewd56dekrnuxh8xukvg7pgeelwp39qah8ts5x28tmf7pqp5tcp3 twitter: https://twitter.com/liujiaolian discord: https://discord.gg/9pGpRgUYPp substack: https://blockcoach.substack.com/
(Disclaimer: The content of this article does not constitute any investment advice. Cryptocurrency is a very high-risk product, and there is a risk of going zero at any time. Please participate carefully and be responsible for yourself.)