MrWaffles

6y

let me talk some s*** this morning

celtics wouldn't even be in the playoffs if they played in the west.

MrWaffles

6y

let me talk some s*** this morning

celtics wouldn't even be in the playoffs if they played in the west.

MrWaffles

6y

let me talk some s*** this morning

celtics wouldn't even be in the playoffs if they played in the west.

new

6y

imagine not trading for AD cause you wanna keep this guy

R D

6y

@Junior

Synopsis

6y

And you'd still be a lame ass b****

R D

6y

complicated topic but put simply it's an indication that systemically important banks view digital currencies as a potential high quality liquid asset to be used as collateral to facilitate lending in the global dollar system, at a time when Basel III's reserve requirements have increasingly siloed MB, and periodic shortages of T-Bills and other traditional shadow banking collateral -- as seen by the recent dislocations in the repo market -- inject systemic risk.

money is anything that one bank can exchange with another, with an assurance that they'll find a liquid market should they need to sell. it's been this way for decades -- Greenspan said in 2000 that the "proliferation of financial products" has made it impossible for the Fed to even define in practical terms what money is.

and so banks operating in this arcane, parallel monetary system (that dwarfs the traditional system within the purview of the Fed), wary of signs of collateral shortages and with the hindsight of the repo run at the core of GFC1, are giving consideration to bitcoin and alike assets for their uniquely suited characteristics as HQLA: they're bearer instruments that settle in moments with finality, they maintain an immutable and public ledger, and these combine to limit the profligate rehypothecation that forms the primary source of high leverage and instability that plagues (and nearly brought down) the system

it's a chance to transition to a more transparent, deleveraged financial world and it's noteworthy that the industry's most important institutions are exploring it

Zoltan Pozsar, Jeffrey Snider, Manmohan Singh, and Caitlin Long are all good people to keep note of for this stuff

MrWaffles

6y

im hurt

new

6y

imagine not trading for AD cause you wanna keep this guy

Chief Julio

6y

This b**** ass nigga really saw the forecast and said “Cancun on 3!”

Synopsis

6y

it'd be a shame if his house burned down during his trip

MrWaffles

6y

why are we helping TX???

they went red in november

f*** em

Chief Julio

6y

-Indiana

MrWaffles

6y

never said anything about Indiana needing help. we all know what goes on in indiana

Chief Julio

6y

Man ain’t nobody know a damn thing about Indiana