2025-09-09 14:04:23 CEST
in reply to

ko yaa nis fiatsi on Nostr: No worries, the system has *solved* the problem with bail-outs by codifying ...

No worries, the system has *solved* the problem with bail-outs by codifying *bail-ins* into law for the next time round, where everyone gets a haircut directly from their accounts a la Cyprus 2012. (/s)

https://www.investopedia.com/articles/markets-economy/090716/why-bank-bailins-will-be-new-bailouts.asp

As an aside, I find it weird that alleged whales convert large amounts of bitcoin they own to fiat beyond their immediate consumption needs - these haircuts seem to be just around the corner the way the global economy is currently behaving! Caveat emptor, plebs!