Blackrock and Citadel got a 100k bitcoin loan from Gemini and used it to buy shitloads of UST hoping it would break the stable coin and subsequently crash the entire crypto market.
They then buy the btc back at a discount rate, give it to Gemini to pay the loan and pocket the difference.
Not up against gas from what I can tell. The fact that interest rates were set higher would make the dollar stronger. And we just finished tax season which tends to strengthen the dollar because the only reason why USD has value is as a tax/don't go to jail token, and its value was just reinforced.
Maybe inflation is going down but we don't notice it because our #1 indicator we see every day, gas, happens to have its own reasons for going up beyond inflation alone.
What's going to be really fun is when the Fed's choice to suddenly go to 5% on a dime in an already dysfunction market leads to deflation. I for one welcome the new great depression. More camping and hobo fires will ground us in reality.
x0x7 0 points 2.0 years ago
Not up against gas from what I can tell. The fact that interest rates were set higher would make the dollar stronger. And we just finished tax season which tends to strengthen the dollar because the only reason why USD has value is as a tax/don't go to jail token, and its value was just reinforced.
Maybe inflation is going down but we don't notice it because our #1 indicator we see every day, gas, happens to have its own reasons for going up beyond inflation alone.
What's going to be really fun is when the Fed's choice to suddenly go to 5% on a dime in an already dysfunction market leads to deflation. I for one welcome the new great depression. More camping and hobo fires will ground us in reality.