“The root problem with conventional currency is all the trust that’s required to make it work. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.”

– Satoshi Nakamoto

Yesterday, just after the news that Credit Suisse will be swallowed by UBS, the markets rejoiced.

“Aren’t markets closed on weekends?” No! It’s crypto, stupid! In a realm where trust was frayed, and the old guard held sway, crypto rejoiced, Bitcoin rejoiced!

Enough. Serious times deserve serious thoughts.

Given the current macro conditions, I’ll take the freedom zoom out for a second from Web3 and brands. I think it’s important to get the macro context right, as it helps to understand Web3 too. If you missed my previous crypto pieces, here they are: