skysight-inc/HackerNews huggingface dataset:
Arable land in England is about $10k an acre. Until the council grants permission to build housing on it, then it jumps to between $500k and $2m an acre because housing is in such short supply.
Absolutely it’s the reasonable cause but as explained there is a difference between the news being the expected cause and the drop being what the market thinks the assets recoup will be.
That sounds like a terrible experience with WF. I don’t understand why your conclusion was positive.
I’d love to see a list of startups who bank with svb. If I worked for them I’d be saving my money
Coinbase, Binance Suspend USDC Conversions as Dollar Peg Wobbles
Stadia, metaverse, etc. If I did some more digging I could find mountains of fake work from these companies.
Industry calls for EU support as VW pauses Europe battery plans
Source is the complete lack of evidence for any substantial harm from the COIVD vaccine compared to the aprox. 4,000 people who died today in car accidents globally. Actually the risk of driving is billions of times greater than the COVID mRNA vaccine.
Even after slavery, the 5/40 didn’t become standard until the 1950s.
The commenter you’re replying to is CTO of Cloudflare, so I’d say they likely know why the company makes these blog posts.
> TDD, which assumes how an API is going to be used, without actually writing the actual thing that's going to use it.

That’s not TDD. It’s a common misconception that you’ve fallen for, and are now spreading further.

TDD is a series of small steps where you write a bit of test code—about five lines—and then a bit of production code—about five lines—then refactor, then repeat.

Here’s a free chapter in my book that describes how it works:

https://www.jamesshore.com/v2/books/aoad2/test-driven_develo...

Here’s a video that demonstrates it:

https://www.jamesshore.com/v2/projects/lunch-and-learn/incre...
This is in a very different vein than the language in that story and not equivalent
"constrained problem within a resource constrained environment" is a good phrasing
None of the Meta models are RLHF tuned, as far as I know.
I just recently went through the process of closing my Wells Fargo account and switching to a different institution. It was surprisingly difficult to open with a credit union (none that were in my region offered 2FA, and the one big national one wanted me to verify some information during signup with Stripe . . . no thank you). I was determined to switch and ended up opening a bank-like account elsewhere, but I can see why people don't do it.
I don’t think it’s remotely plausible that uninsured SVB deposited are just gone, $0 on the dollar.

Absolute worst case, they might have lost 10%, or $330m, so .99175.

It’s not like SVB was a Madoff scheme and the money is gone; it became insolvent because the current value of its investment vehicles couldn’t support 100% withdrawals.
He should step down and donate his riches to charity to prove he means it.
I would bet many accounts had balances well over the $250k cap and had larger withdrawals that, if left completed, would reward the first movers in the run on SVB to benefit to a greater extent than account holders that waited.

I agree that people below the threshold won’t see claw backs.
The FDIC isn't the federal government. It is not supported by tax dollars. It's funded by fees FDIC charges to the banks it insures.
PlanetScale Subprocessors
You think the person you’re replying to is slandering Cloudflare by saying they write blog posts primarily to build their brand among potential hires.

I don’t think he’s slandering Cloudflare. I think he’s captured their intent well. I say this because jgrahamc is the CTO of Cloudflare. He has been for years.
But you seriously believe that banks are generally better at completely losing deposits than keeping them? It’s just hard to see any evidence-based person believing that.
It's the latter and it's true of any form of money; i.e., money as defined in legal terms. Money always has a counter-party and there's a finite chance of that counter-party not honouring their commitment. For example, last year treasury announced sanctions after Ukraine conflict where they froze Russian USD assets. This is essentially the govt of United States deciding to not honour their commitment.

Even when you physically own money, let's say physical cash/bills, the counterparty could default. For instance in Nov 2016 govt of India declared that about 90% of currency in circulation stop being money within a certain deadline.

In my mind whenever I try to analyse money or different forms of money I always think in terms of counterparty.
ATC Manager 2
Australia's Parliament is one of the worst perpetual gridlock clusterfucks I have seen in the reasonably developed world.
On the other hand, you could throw a dart at a random non-US WEIRD country and find a more stable banking system..
Of course banks are lending deposits. They're throwing in some investor money too but vast majority of loans they write is using deposits. You can try to make some sort of "number on screen go up" argument, btu the underlying value comes from somewhere. When someone takes a loan and withdraws dollars they're usually getting money that was deposited by a customer.
Do you mean ARM926? That was a very common core in dumbphones.
The correct term is receivership but that is confusing for most people and the general principle is the same. When you go bust, the court/trustee/receiver combs through transactions and claws back assets as part of gathering/selling all assets to pay creditors
Well just from my own personal research (which is not nearly as thorough as I'd like), structurally any central power structure receives little benefit from division of labor and the main driver that allows it to work and greese the wheels are corruption, which generally promotes oligopoly or monopoly.

Then you have the economic calculation problem, inability to adjust to shortages because the economy is not self-moderating, low to zero visibility (and shame) so responsible parties may not communicate to enact change rapidly or admit there's a problem until its had significant cost.

Generally speaking, there is also a lot of indoctrination, and many who grow up in those places see the only solution to failures of socialism as more socialism because it failed because there simply wasn't enough, and it is after all about the group over the whole with identity politics.

Improvement is impossible because failures can't be acknowledged or reconciled rationally.

Structurally over time its a fundamentally unstable system as people age out of positions of power, newer generations may not be properly educated (they all drink the same coolaid).

Rational pragmatic and constructive thought is kind of a requirement to improve.

There's also usually a good portion of the population used as disadvantaged labor that supports an aristocratic elite.
I mostly agree.

> A literal pile of cash would not count a single cent towards that requirement.

Are you sure about that? Do you have a source?

As far as I am aware, vault cash is fine, just way less convenient than an account at the Fed.

But I admit that I don't know the exact rules, and would be happy to be proven wrong.

> Modern requirements are based on core capital ratio [...]

I think you can strike the word 'modern' from that sentence. Capital cushions have been a thing for a long, long time. What's 'modern' is that the US mostly stopped having reserve requirements (though the new rules are written in such a way as to all-but force American banks to hold lots of American government debt as a sort-of reserve in disguise).
While also being ~160% collateralized. I’d link more specific figures but the makerdao site, like most crypto projects, doesn’t make those figures easy to find.

Edit: There you go: https://daistats.com/#/

Disclaimer: somewhat motivated reasoning since I’ve left a standing order for DAI at 0.995 on an exchange, which was just filled this evening, in the expectation that DAI always returns to parity.
Shein, Temu in fierce fight over US market for $10 dresses
Lol you yanks have an actual fascist movement underway passing laws against books and education and free expression and here you are repeating their talking points concern-trolling like free speech is under attack in Canada. Get your own house in order.
Do you think it’s possible that someone working for Wells Fargo might actually know something about banking?

Like, for instance, that 56% of SVB’s assets were long term fixed interest rate vehicles, compared to, IDK, 28% of Wells Fargo’s? [0]

0. https://www.bloomberg.com/opinion/articles/2023-03-10/startu...
I don't know where OP got that from, but we don't actually need to use it, an a lot of things live there. It isn't all just bare sun bleached rock and sand. https://www.desertmuseum.org/desert/sonora.php
GM explores using ChatGPT in vehicles
I agree with this method. In high school I tracked what I did every hour for 3 months. Probably over the top, but seeing the hours add up of watching TV--or just killing time--was what I needed. All these years later that exercise stays with me.

The trick for me was to only be able to see one day at a time until the end of the month. I would record a day and think "I'll do better tomorrow." Only to realize that today is always yesterday's tomorrow.
Would you be willing to make a honest try to compare quantitatively the percentage of deposits lost in regulated western banks vs money lost in failed crypto exchanges, stablecoins etc?

I think the difference must be many orders of magnitude to the benefit of regulated banks.
There are some 68 million+ sheep in Australia and the barely 25 million people are facing a housing shortage ATM .. there's never been sheds and houses for sheep in Australia aside from shearing sheds that only see once per annum usage.

As you can see here [1-4] paddocks have trees, dams, etc.

[1] https://www.youtube.com/watch?v=Fi4FvVqMnBk

[2] https://www.youtube.com/watch?v=Y5RIqsac2Hs

[3] https://www.youtube.com/watch?v=McNSfo38DYI

[4] https://www.youtube.com/watch?v=S3SYMPabyT0
Cruise ships are also all-inclusive, in that they provide meals + entertainment + basic medical care. That's hard to beat.

Plus there are plenty of potentially interesting people to talk to...and shrimp. Lots of shrimp.
If it wobbles, it isn't stable
It started as a liquidity crisis (do they had to start selling or raise capital), it turned into a solvency crisis (they had to sell even more therefore marking assets as available for sale which made them marked to market).

Right now SVB, if fully liquidated, cannot repay all of the deposits.
Ha brutal. Yes, the CRA has effectively given access to My Account to all SIN holders so the burden is on us all to know about these T&C! Lolsigh.
This is a pretty big issue in the state of CA. Not paying on time results in a $100 fine per paycheck failure and subsequent infractions are $200 and 25% of what the employee is owed.

It's CA Labor Code 210 if anyone is interested in looking it up.
> If SVB had invested in Treasuries, they'd be in the same world of hurt that they're in today.

Not necessarily, if they were investing/laddering in short term Treasury Bills (< 52 weeks) instead of longer dated bonds things might have panned out differently.

”97% of these MBS were 10+ year duration, with a weighted average yield of 1.56%.”

Treasury Bills from 6 months ago had yields of 3.37%.
A surprisingly large percentage of highly compensated workers are living paycheck to paycheck. All it takes is living right at or above your means.
So many people were expecting it would be BUSD that would de-peg, and now it's USDC, which was considered to be among the safest and safest from regulatory pressure. Goes to show how the consensus is often wrong and how hard these things are to predict.
This assumes their reserves can be liquidated 1:1 in time of panic instead of taking a massive haircut

Also, missing 5% of their reserves means the first 95% of withdrawals get 100% of their money and the last 5% get 0%...

Hence the bankruns on Silvergate, Silicon Valley Bank, and now USDC
Your deposits are insured by the FDIC, your money is safe. Your line of credit could be closed, but that is very unlikely.
No, FDIC insurance applies to account owners, not accounts.

Fun fact, if you're married, you can actually turn that into 3 * FDIC insurance limit.

- Account 1: You

- Account 2: Your spouse

- Account 3: Jointly you and your spouse
FDIC is an agency established and granted powers under US federal law, and its chair is nominated by the President, subject to Senate confirmation. Fundamentally, it is just as much part of the US federal government as any other independent federal agency, such as the CIA or EPA or NASA, is. The fact that, unlike most other federal agencies, it gets its funding through hypothecated taxation rather than general revenue, doesn't make it any less of a federal agency.

Also, while the law may call them "fees", they are taxes – it is not like banks have a choice in paying them – just because the law doesn't call something a "tax", doesn't make it not a tax (see National Federation of Independent Business v. Sebelius)
Can't you just buy USD directly? How does that help? What does the C part of it do?
Well, I'm pretty sure all credible banks in the US are all insured (both explicitly with FDIC and implicitly far beyond that) by the US government. That's a pretty big thing
https://finance.yahoo.com/news/silicon-valley-bank-short-sel...
Our local primary school (UK) allows year 5+ (aged 9/10). Annoying that means I have to meet them off the school bus, despite the bus stop literally being on my land at the bottom of the garden, 20 yards from the house, which means having to wait around for upto 15 minutes depending how early/late it's running.

I'm not aware of any high school in the country that forces parental pickup from year 7 (aged 11/12)
It also bears mentioning that in the election, the Liberals (Australian right wing for anyone watching US politics) lost Wentworth. To give an idea about how right-wing Wentworth, is, that a was the seat of a recent Liberal prime minister. Lost Kooyong, seat of a prospective candidate for Liberal leadership. Lost a bunch of other seats that broadly support right-wing policy.

There is a revolt underway on the right of Australian politics as various factions battle to decide what exactly the right wing is going to stand for. That contributed a lot more to their election defeat than the concerns this gentleman raises. There were significant swings against both major parties, although the Labor party just lost a few votes while the Liberals were eviscerated.

That isn't gerrymandering, that is losing lots of votes leading to the loss of an election.
I don't want it to be lost on others so I'll explain it (this kills the joke, unfortunately), ndesaulniers is the author of the linked article.
That is not true. They initially had some withdrawals that they hoped to raise for, then it spiraled and they had to mark-to-market a larger portion of their portfolio which made them insolvent. Right now they are insolvent (they are also illiquid, but that's a smaller issue).
Based on their own story. However wait for regulators to look at their books first before concluding .
The bond isn't really paying out as predicted though. If they knew interest rates would go up so much they never would have bought those bonds to begin with. It's not the same as something that would pay out above (or at least ~ at) baseline if they could survive long enough.

Imagine if they put 100% of their deposits in these bonds, they would not be able to raise the interest rates they pay out above like 1.5% for the next 10 years, because they're stuck with their own long term investment. When other banks start offering a better interest rate on savings, of course people will want to withdraw.

So even if they are solvent by definition this is not the same thing as a liquidity crisis that results from an inability to sell a large amount of something in a short time, potentially something that is difficult to sell. It's not the amount or the weirdness of the asset here, it's the price they are locked into, the same way that anyone trying to sell any amount of this right now would be taking a loss if they bought in 2021. And it's not like the price is some irrational situation like GameStop, it's a natural consequence of the interest rates.

I don't see how this wasn't a predictably risky trade regardless of the VC panic factor. They put 40% of their deposits into a long term bet that interest rates wouldn't go up.
From what I hear, a terrible bank experience looks different.

Also, while not truly terrible my experience with Postbank (in Germany) is awful. I wanted to close my account before, but the clerk in the branch I went to simply refused to do so (only much later did I learn that there is indeed some time limit for closure of checking accounts, but that clerk didn't even bother to mention those).

I need a bank to be first and foremost reliable, secondly efficient. WF, as far as I can tell, meets those requirements (well, they could improve on the speed of check transactions). If the clerks are friendly, I appreciate that, but I do not go to a bank to stoke my ego (once, long time ago, I got paid for three months worth of a contracting job at once and the clerk was very friendly -- that was somewhat unnerving).
i like the 3b+ for its reduced current consumption, you can just use any old 5v2a power supply with it
Like everything in life, striking the right balance makes the whole difference. Exactly how the balance is weighted is different for varying situations. Your unique “formula” is your secret to success.
If I recall correctly, Cyprus “doesn’t count” because those depositors were making something like 9% interest, and therefore they were morally closer to investors. I don’t have a citation at hand...
As someone in Texas I'd really love is more parking lots had even partial covered parking with solar above. Please. It gets dang hot out here, I'd love the shade.
Normally, I'd be celebrating any crypto collapse.

But unfortunately, SVB's collapse affects so many tech companies and affects people in a region I call home.

So I won't be celebrating this. Hope it works out for USDC.
Can't even view an instagram link without a login, Meta junk.
That kind of protectionist thinking isn't sustainable in the long run.
I think it was the book "102 Minutes: The Untold Story of the Fight to Survive Inside the Twin Towers". I'm not 100% sure since I read the book many years ago.
The crops that are best suited to giant tractors also tend to be less suited to agrivoltaics.

They also include energy crops, so you can go from producing no food on land with unprofitable crops that take subsidies to growing food on the land at a profit and producing energy.

The land taken up by energy crops exceeds the land needed by solar by over an order of magnitude.
Seems like its around 30 banks a year in the usa.
Not sure about deposits, theyre relativelly covered.
But shareholders get wiped out every time.
Although the language i have been working on includes time travel as a built-in feature, i find that i almost never use it, because in a deductive language, it is not that easy to create a bug.

Time travel is great for understanding someone else's large program, so that you can see where it goes as it is running. In large projects the instruction pointer is hop around madly throughout the code, and seeing where it goes like the path of a bird is rather handy.
> Some blue collar guy trying to make ends meets hears about the protest ..

> Now his bank account is frozen and he can't pay the rent.

Where does your linked article say that happened though?

The article does not say that the frozen accounts were donor accounts ( ie accounts of blue collar workers ).

The part you highlighted was in response to a question about whether that might happen .. and the response was it's technically possible .. but pretty unlikely.
It's not theirs, it's the depositors. And it's the depositors choice to leave it in the bank.
By definition a library houses a collection of books and other media. Allowing borrowing by members of the public is optional.

Maintaining a collection another way of saying preserving information over time.

So I would argue IA is correct.

But if your local libraries are anything like mine, the focus is far less about books and more about providing a community space.
https://happymag.tv/apparently-ear-rumbling-is-a-thing-and-o...

https://www.reddit.com/r/AskReddit/comments/ajhnv/sit_or_sta...

I misremembered, it was wiping apparently.
USDC is an ERC20 token on the blockchain. This is required to work with smart contracts and dapps. You can swap USDC for any on-chain asset using uniswap or mix them up using a mixer like tornado cash. It also escapes any capital controls to hold USD which is a benefit for those who are outside US and live in poor or draconian countries.
I have great sympathy for your argument, and agree with the gist of it.

What you are describing is pretty close to the free banking eras of eg Scotland and Canada.

> The central bank is unregulated [...]

That's not true. Many central banks have lots of regulations on them. However, they are not regulated by the kind of competition you outlined above.

> [...] The central bank functions as an entity that loans money to banks with interest. It is this interest rate that is used to regulate the money supply in the US. [...]

It's probably more productive to think in terms of the total money supply, and less in terms of interest rates.

For one, loaning money to banks is only one part of what the Fed does. They also outright buy and sell assets (eg in open market transactions). In many instances, the banks (technically) lend money to the Fed by having positive account balances at the Fed.

For a contrasting example on how interest rates don't need to be the focus of monetary policy, have a look at the Monetary Authority of Singapore. Instead of using interest rates as a channel to communicate and effect their monetary policy, they use the exchange rate of the Singapore dollar to a basket of foreign currencies. Crudely, instead of 'setting' the interest rate, they 'set' the exchange rate.

Simplified a bit, they 'set' the exchange rate by standing by to buy and sell Singapore dollar to any comer. They have a printing press, so they can push down the exchange rate as much as they want to, and they also have enough assets to prop it up.

Crucially, this framework doesn't need to worry about any zero bound on interest rates. It works as long as Singapore dollars are worth anything more than zero.
Trick is to be first in the queue, whether that be first in filing for a missed paycheque (because it may not be the last missed), withdrawing funds first from a failing bank, or by regularly processing your payroll before a Friday when everyone else tries to.

Not sure why everyone sticks to payroll on Fridays. It’s not the early/mid 1900s where you have to worry about workers going on payday benders.
Is a bank a ponzi scheme if its assets don't exist also?

Like if a bank has $10B in customer deposits and one of their armored truck drivers escapes across the border with $2B, then some customers can't be paid back when they try to withdraw, does that make it a ponzi?
I've gotten my information from https://www.federalreserve.gov/monetarypolicy/reserve-mainte..., although I may be misreading it.
Developing Events Surrounding Silicon Valley Bank (Legal Webinar)
It's probably due to climate change.

Instead of Beef Soup, she should be eating Insect Soup. Most likely, it wouldn't have turned blue.
That might make economic sense if you build it with relatively small investment from the ground up.

Doesn't make economic sense at all if you buy it for $44 billion when it was already on shakey financial grounds.
Just to be clear, is this your actual position? In other words, it should be illegal to cause mental strain on a mentally ill person?