π-day 2023: Circle the Wagons ⭕🥧
Operation Chokepoint intensifies with extralegal takedown of Signature Bank
Yesterday we saw how everything on-chain worked out. Off-chain, it’s a hot mess.
The ruthless flash-nationalization of America’s banking sector happened with alarming speed this weekend. While most people are trying to parse what exactly happened, they’ve been missing the biggest point. By far, the most egregious part of the story is getting overlooked outside our bubble, so we’ll keep this simple so as not to confuse the point:
Signature Bank was not shut down due to insolvency.
It was taken out because it was pro-cryptocurrency.
That’s not regulation. If, per Mitt Romney’s tone-deaf turn of phrase, corporations are people, then this amounts to a drive-by execution.
This deserves an uproar. We’ve explicitly entered the next phase of “Operation Chokepoint”
In this case, our tactical options are inadequate, though they should be pursued if for no other reason than vengeance. Imagine we pressed a court case and won… then what… we might resurrect the bank several years after it was too late to make a difference? The pawn’s already been taken off the board and the damage is done.
Our best bet is to bring attention to these shenanigans with our strongest remaining power… the power of memes.
The ruling regime believes, probably correctly, that the issue won’t cost them votes or cause any political headwinds. Our best hope is to kick up a firestorm on this issue and turn this into a major boondoggle.
The present administration’s achilles heel is their over-reliance on optics and polling — they care far more about controlling the narrative in the legacy media than they do about the well-being of their constituents. The government’s disappointing track record is heavily due to their failed experiment in επίκαιροπράγμαπώλιο — the Greek term for “government by Current Thing.” This rudderless tactic guarantees the general populace remains in a constant state of whiplash.
While the crypto community may be shut out from any organs of power, at least we have meme magic on our side. Our enemies suffer a strategic shortfall in this area, so we possess the advantage at the front lines. Prepare your finest memes for the battle!
All good memes, but what we need specifically in this moment are memes to raise awareness of Signature Bank imbroglio. It could turn into a major legal headache and broader scandal, but so far has slipped in under the radar amidst everything else. We need to meme this to the forefront. To arms, artists!