Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Bank Failures Visualized

observablehq.com

Post reply on HN
Print view View original

221–230 of 424 posts

Re: Bank Failures Visualized

#221

Post by Nition »

themagician wrote: post #188
yieldcrv wrote: post #187

Earlier quoted context omitted.

for me its more about how much this mismanaged business shook confidence in "crypto", instead of just this mismanaged business - the way we would judge any other sector. while the crypto aspect is helping resolve this far faster than other insolvent schemes of similar size and magnitude. and Sam Bankman Fried is not involved in that. yes, Sam did that elaborate thing, the people recovering and the bankruptcy court ar…

It really didn’t though. Crypto is the never ending, infinite ponzi. It’s unshakable, unsinkable. The hype is real. What Sam did was elevate things. Anyone can run a crypto scam. Literal kids do it. But to create art is something else. Something more human. Something timeless. SBF is perhaps the ultimate use case for crypto. I had about $100 in FTX. Worth it. Totally worth it. I’m stoked for the Coinbase collapse. My…

The Tether collapse is where it's really going to get exciting IMO.

By the way I love your writing style here, reminds me of James Mickens.

Re: Bank Failures Visualized

#222

Post by yieldcrv »

smcl wrote: post #196
yieldcrv wrote: post #187

Earlier quoted context omitted.

for me its more about how much this mismanaged business shook confidence in "crypto", instead of just this mismanaged business - the way we would judge any other sector. while the crypto aspect is helping resolve this far faster than other insolvent schemes of similar size and magnitude. and Sam Bankman Fried is not involved in that. yes, Sam did that elaborate thing, the people recovering and the bankruptcy court ar…

I'm not sure we can treat crypto like any other sector - there are no others which are afflicted by a rapid succession of high profile scams, scandals and collapses. Confidence is shaken because there's no other rational response to this situation.

oil exploration, energy, banking, construction...

its really a choice to consider mismanaged companies as the sector itself, at least the construction industry started putting X days since incident as an effort to differentiate each site since nobody was hearing about sites that were operating fine. confidence isn't shaken for everyone in the crypto space, and there might be a need for services to point out how many days since incident they've gone, since nobody currently indexes that or reports on that while the majority of activity occurs within services that operate smoothly and as expected

Re: Bank Failures Visualized

#223

Post by ekianjo »

ajross wrote: post #132
kypro wrote: post #79

Would be slightly more insightful if it was inflation adjusted. The circles on the right should be ~30% smaller.

It's also leaving out non-FDIC bank failures like Lehman, Bear Stearns et. al. which would make the '08 crisis much (MUCH) larger. Basically post-2008 the class of "investment banks" basically disappeared. But none of that is shown in this chart.

Are you trying to say that the current crisis is nothing ? These are famous last words.

Re: Bank Failures Visualized

#224

Post by beginnings »

lottin wrote: post #153
beginnings wrote: post #75

National governments should control their own money, scrap interest entirely. Let the market decide what each currency is worth for international trading. The status quo international banking system is designed to enslave, and governments can't do anything about it because the banks are above them. How anyone can defend the current system is beyond me. It's not remotely close to being the best we can do, it's a scam…

> National governments should control their own money, scrap interest entirely. Let the market decide what each currency is worth for international trading. Isn't this how the current system already works? Except for the "scrap interest entirely" part, which I'm not sure know what it means.

No, governments don't control the money printing machines.

Scrapping interest means that when the money is loaned after being printed, there isn't a debt attached to it.

Re: Bank Failures Visualized

#225

Post by lottin »

kavalg wrote: post #178
lottin wrote: post #155

Earlier quoted context omitted.

A bank is a business and businesses fail sometimes. This is inevitable.

However, this time it looks like the government failed, not the banks. If you look at the US government (bonds) as just another business the bank can invest in, you can't help but notice that the business had not been very well managed. It promised that bonds will keep their value, but they did not (currently at market price and in the future, due to their yield suffering from inflation). We still don't have a clear…

The issuer of a bond only promises that they will pay the principal of the bond back with interest. They don't promise that the bond will hold its value in the market.

Re: Bank Failures Visualized

#226

Post by beginnings »

highwayman47 wrote: post #133
beginnings wrote: post #75

National governments should control their own money, scrap interest entirely. Let the market decide what each currency is worth for international trading. The status quo international banking system is designed to enslave, and governments can't do anything about it because the banks are above them. How anyone can defend the current system is beyond me. It's not remotely close to being the best we can do, it's a scam…

What is the alternative?

[flagged]

Re: Bank Failures Visualized

#227

Post by tpxl »

NoMoreNicksLeft wrote: post #157
kortilla wrote: post #103

Earlier quoted context omitted.

> And while we haven't quite reached that pinnacle of absurdity, it did hit 37,000 not so long ago. Why do you think this is absurd? You know inflation means we’ll get there even without ridiculous multiples, right?

What sort of inflation would take it from 2700 to 37,000 since 1987? How close to the CPI is that, exactly? It seems a little off.

> What sort of inflation would take it from 2700 to 37,000 since 1987?

7.5%. Doesn't seem that unbelievable.

Re: Bank Failures Visualized

#229

Post by seviu »

RC_ITR wrote: post #167
bboygravity wrote: post #42

Earlier quoted context omitted.

JP Morgan is the biggest one. It can do ANYTHING it wants and get away with it. It can make 10 billion USD spoofing gold prices for a decade and get away with a 1 billion USD fine (and keep doing it) for example. The CEO can go on trips with Jeffrey Epstein, be friends with him and do business with him and get away with it. It made tons of money off of the Madoff ponzi by providing Madoff with a bank account and not…

> There are 100's of other examples of quite outrageous FTX-style crime. Woah woah woah. FTX (in the most generous telling) didn’t even have its own bank account. Let’s not conflate that with not proactively reaching out to snitch on a customer (as if they are some regulatory agency).

Add to the mix that despite all its flaws (which are many) crypto is way more transparent than a classical financial institution due to the fact that one can track all movements. Even for entities like FTX, we can guess what their wallets at and how many funds they hold. Part of the FTX debacle was due to depositors figuring out that it didn’t have enough money to cover their debts.

Unfortunately for USD backed currencies we still don’t have any idea where or who holds the backing assets. They might as well be non existent…

Post reply on HN