Argentina inflation reached 98.8%

The natural outcome of central banking at the hand of corrupt governments

The case for CBDCs

Lebanese protesters, furious at not having access to their own savings, set fire to banks in Beirut. The country's financial crisis has slashed the value of the Lebanese pound by more than 98% since 2019

While the Fed is focused on the lagged and smoothed labor reports that indicate a tight labor market, actual companies are announcing mass layoffs and as early as Q4 2022 have indicated no labor shortage

Goldman Sachs analysts of Q4 earnings calls: “References to labor shortages in Russell 3000 earnings calls fell to the lowest level of the pandemic recovery, at 4.9% of Q4 earnings calls compared to 16.5% for 3Q21.
Our more detailed review of Dow Jones and large-cap consumer company trannoscripts was even more encouraging: Two thirds of references pointed to increased labor availability, and no companies cited labor shortages worsening.”

Durable goods orders crashed in Jan by the highest amount since COVID: -4.5%

But this is after +5% in Dec. Overall down the last 3 months

Transportation -13% incl. aircrafts -56%

Mixed signals have baffled analysts but note recessions typically come after a mixed-signal period

Shipping containers pile up and trucks form a kilometer-long queue in major Chinese port as overseas orders dwindle

‏The stock market has never seen a bear market bottom before the unemployment rate begins to rise

Bank of America:
"The latest BAC card spending data suggest that the acceleration in consumer spending might have been more short-lived than we were expecting. Card spending per household slowed to 1.3% y/y in the week ending Feb 25"

Innoscriptions usage does not seem to have subsided.
More than 300K Innoscriptions to date & $1.5M fees generated.
https://dune.com/dgtl_assets/bitcoin-ordinals-analysis

Silvergate to shut down operations and liquidate the bank

Ouch.. banks getting crushed.. “strongest economy”

Mini bail-out:

"Depositors will have access to all of their money starting Monday, March 13."

"Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed"

Fun part: they claim no burden on taxpayers

Record high $ moving to Money Market Funds

~$300 Billion in last couple pf weeks
>$5 Trillion in total assets

Crisis is not over and will only get worse for banks.

On March 14th, 2023, the U.S. government sold 9,861.1707894 Bitcoin for a sum of $215,738,154.98. 
After transaction costs, the government received a profit of $215,522,416.83. The government also disclosed that there are still about 41,490.72 Bitcoin left to be sold, which they intend to sell over the course of this year in four additional batches.

DAOs redefined 😅
https://twitter.com/sinz_bitguide/status/1642539720885383169

Twitter web’s logo is changed to Dogecoin.

ISM manufacturing PMI in solid recession territory: 46.3