What’s most disturbing about a black swan event is how it affects the rest of us. What will this non-bailout, bailout of Silicon Valley Bank and Signature usher in? Will we have a new way of banking where the Fed gets to call the shots? Will digital dollars be their way to control us?
Because it’s times like these when those in power usher in change in the name of following “the science.” Will this give them the extra inch they need to tell us that currency digitization is for our “protection?” One thing’s for sure, we’re not going back to the way life was.
Sitting in my cave, it never ceases to amaze Your Survival Guy how the so-called pros handle other people’s money. I can see this from my unique vantage point. I don’t look to beat the other guy. I don’t look first for return on assets. I look first and foremost to return of assets. That’s the real work.
And yet every single time, it’s the hubris of the “smartest guys in the room” that were supposed to know what they were doing that gets them caught. No one knows their risk tolerance until the losses rain down and they scurry for cover.
Rather than let them work through the mess they created, we have yet another government backstop. What could go wrong? The experts want to save you? Protect you? Please. If there were ever a moment for the installation of more control in the name of “protecting you,” this is it. Stay tuned.
E.J. Smith - Your Survival Guy
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