Oddbean new post about login | logout This is the same bank that acquired Signature Bank when it failed in March. The trend is clear: Smaller banks fail, bigger banks acquire them, until only a few ‘too-big-to-fail’ banks are left. Then, hyperinflation must occur to keep the fiat banking system humming. Any wealth not secured in #Bitcoin self-custody at that point is at risk of being inflated away or seized. Don’t say you weren’t warned. https://image.nostr.build/b1347938df6d43fe97e9618cd64bb6e790ef266c0fd4aaf95e8a53584abf9f93.jpg nostr:note1g56f6avmzm9z680pg222nskmw30g8y7x8emfz8n0lreugngptk0suydx0f
If I have a credit card with a bank that fails, what happens to my debt?
It gets purchased by the acquiring bank. You’ll keep making payments, probably even keep paying to the same place. But it will be someone else’s hand that receives the payment.
Depends if your bank still owns it. If they do it will be sold for creditor benefit. If not then maybe no change. Either way, u pay.
I thought that Signature bank did not fail. My understanding is it was solvent but was "choked" by force because it serviced the "crypto" industry. Still, cool post. I spotted my local bank in WI, Norwest, which was bought up by Wells Fargo in the mid-nineties. I still bank with WF. Thank god for Bitcoin.
