Fed shitting their pants!
Only a 25 points raise
After the crash of Silicon Valley Bank, the reason for the crash was blamed on the raising interest rates of Treasury bonds. Because SVB was holding lots of bonds with a lower interest rate from previous years, those bonds were valued below par, and because of a bank run they had to sell them at those prices.
The fear was that more banks would get in trouble with more interest rate hikes.
And the Federal Reserve gave into that today. Which is a weak move by the FED.
Especially because Silicon Valley Bank just wasn't diversified enough in its assets. And they had to little reserves. That's the real reason why Silicon Valley Bank went down, and of course the bank run killed them completely.
Inflation is not tamed by this
Inflation is still the big issue the world economy is troubled with. And by this weak move, inflation gets free play... This is really disappointing for me. The markets will love it, but for the people in Main Street this is very bad news. The prices of groceries and other necessary items will keep on rising. But their wages won't a the same rate. So people will keep on getting poorer and poorer, especially the lower and middle class. The elite once again will get richer by this move, as the stock markets will love it, and their money is there!
I recommend people to keep on putting money in Hive Backed Dollars savings, at least they will beat inflation with the interest they are getting on HBD.
And of course Hive at these prices is of course also a great investing opportunity!
Sincerely,
Pele23
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https://twitter.com/2247710108/status/1638626691953074201
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Yep, we're running out of options.
At least HBD and Hive provide some respite!
The FED was between the devil and the deep blue sea.
As we are seeing it, it has become very expensive all over the world and it has become difficult for people to live and the interest rate that has come today is also completely wrong due to which we have the crypto market is down again. HBD is helping people a lot because the APR on it is very good and helping people a lot.
The crypto market moves today, and in the last couple of weeks perfectly shows which are the real cryptos, and which ones are already basically owned by the system.
It was a nice feedback for me. Personally, I prefer privacy coins (none moved with the BTC rush, nor fall). Also some smaller ones, like Hive.
It was obvious, that FIAT world corps., funds, billionaires put money in btc, eth and few other coins in the last weeks, because they freaked out, now it looks like they are pulling out - with a nice short-term profit.
And people still think crypto is a competition to fiat, banking system. 99% of cryptos is not, since long years.
The privacy coins stability is really surprised me.
And here is one of the best, what reacted very good for the instability of the market, system. Too bad I missed to buy it around 4$. Looks like it is starting...
https://coinmarketcap.com/currencies/dero/
Just FYI, you don't know, you can't know the volume of the market, as it is a private coin... so have no idea where from coinmarketcap makes up those numbers, probably from a surveillance exchange.
Yes. totally agree with the HBD plan!
and FED..
WEAK!!