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Where we're going, we won't need banks.Big week for stablecoins.Big week for Plasma.New card, new app, new neobank all in one. Mainnet on Thursday.Plasma CEO on stream this week.Trillions. See you soon.Plasma (@PlasmaFDN):Introducing Plasma One: the one app for your money. https://t.co/5IgcCon5g8 ...

Winning doesn’t mean replacing banks.It means banks and asset managers becoming part of our industry, just like companies that embraced the Internet thrived while others faded away.What winning looks like ↓ https://t.co/jugCIgcNSf ...

Group 1 - Pearl Gray is a proprietary investment fund and independent market research firm focusing primarily on Fixed-Income and Preferred Shares [1] - The firm also provides analysis on equity REITs, Investment Funds, and Banks, offering a cross-asset blend for readers [1] Group 2 - The content published by Pearl Gray is categorized as Independent Analysis and does not constitute financial advice [1][3] - Readers are encouraged to consult a registered financial advisor before making investment decisions [3]

"We don't need the banks anymore."- Jack Dorsey on #Bitcoin https://t.co/abX0QzXUEJ ...

Regulatory Landscape - The executive order signed by President Trump bans banks from debanking the Bitcoin and crypto industry [1] Cryptocurrency Industry Impact - The ban potentially impacts the Bitcoin and crypto industry [1]

Industry Adoption of Crypto - Major financial institutions like JPMorgan, PNC, and American Express are routing transactions through Coinbase/Base [1] - Bitcoin ETF custody has reached 80% [1] Market Dynamics - Banks are increasingly compelled to engage with cryptocurrency solutions [1]

Macroeconomic Critique - Macroeconomics has made little progress in a century, struggling with economic growth, fiscal, and monetary policy determinants [2] - Economists were surprised by the inflation of late 2021 and 2022, and recurring banking crises, due to misinterpreting central bank policies [3] - Economic models often lack banks, leading to failures in understanding banking crises [5] Money Creation and Banking - Most people incorrectly believe the government or central bank creates the majority of money [8] - Banks create most of the money supply through credit creation, not by lending deposits [9][10] - Banks create money by issuing loans, which legally establish an accounts payable liability to customers, represented as customer deposits [11] Banking System Structure and Economic Impact - A banking system dominated by a few mega-banks can lead to asset price inflation and boom-bust cycles [12] - Decentralized banking systems with small local banks lending to small firms can foster growth without inflation and asset bubbles [13] - East Asian economies achieved high growth through decentralized banking systems focused on productive business investment [14] Growth and Sustainability - Economic growth is a statistical fiction, not a physical reality, and is not inherently harmful to the environment [17] - The concept of economic growth is used by bankers to maximize interest charges on national debt [19] Central Bank Policies and Inflation - Quantitative easing (QE) policies have different effects depending on implementation; QE1 cleans up bank balance sheets, while QE2 boosts the economy [20][21] - Implementing QE2 in 2020, when demand was reasonable but supply was restricted, led to inflation [22][23] Policy Recommendations - Advocates for preventing centralized systems like central bank digital currencies, which could lead to less growth and prosperity [24] - Encourages the establishment of many small banks to decentralize the financial system and promote economic growth [24] - Decentralizing the financial system can create job opportunities in rural areas and support government policies to increase fertility [25][26][27]

Private Credit Market Growth & Mainstreaming - Private credit is becoming mainstream, with affluent and wealthy investors increasing investments by 250% in the last 3 years [2] - Approximately $350 billion of wealth assets are now in private credit [2] - Evergreen products are growing at about 60% this year, indicating continued demand [3] - Bringing private credit into retirement portfolios with 401k reforms is considered interesting [3] Banks vs Alternative Asset Managers in Private Credit - Banks face restrictions on risk absorption, impacting their role in private credit [6] - Banks were discouraged from taking very risky, long-dated, and complicated loans after the financial crisis [8] - Private credit has grown around leveraged lending and mid-market lending, fueled by insurance companies with long-term loans [9] - Some loans fit better on a bank's balance sheet, while others are more suited for the private market [8] - Banks will be very competitive with private credit, but the key is determining the best owner of the risk for a certain type of loan [9] Regulatory Environment & Systemic Risk - Firms are concerned about litigation risk, necessitating safe harbors or clear legal guidance [4] - Central banks are asking questions about the systemic risk, the economic cycle, and the potential for bad decisions in private credit [16][18][19] - Private credit firms taking riskier pieces can make banks less risky [17] - Central banks want more data to monitor the pulse of the private credit market as it transitions from niche to mainstream [19]

America’s Best Banks 2025: Small Banks Shine Amid Wall Street’s Behemoths https://t.co/F18jHf2MXB https://t.co/F18jHf2MXB ...