March 2023 - cypherpunks - lists.cpunks.org

Silicon Valley Bank Was a Wall Street IPO Pipeline in Drag as a Federally-Insured Bank; FHLB of San Francisco Was Quietly Bailing It Out
by Gunnar Larson 13 Mar '23

13 Mar '23

https://wallstreetonparade.com/2023/03/silicon-valley-bank-was-a-wall-stree… By Pam Martens and Russ Martens: March 13, 2023 ~ If you want to genuinely understand why Silicon Valley Bank (SVB) failed and why Jerome Powell’s Fed led the effort yesterday to make sure $150 billion of the bank’s uninsured depositors’ money would be treated as FDIC insured and available today, you need to take a look at how the bank defined itself right up until it blew up on Friday. (That history is still available at the Internet Archives’ Wayback Machine at this link. Give the page time to load.) This was a financial institution deployed to facilitate the goals of powerful venture capital and private equity operators, by financing tech and pharmaceutical startups until they could raise millions or billions of dollars in a Wall Street Initial Public Offering (IPO). The bank was also involved in managing the wealth of those startup millionaires or billionaires once they struck it big in an IPO. Many of the former startup companies also continued to keep their operating money at the bank – in many cases in the millions of dollars, ignoring the fact that just $250,000 of that was insured by the Federal Deposit Insurance Corporation (FDIC). Last Friday, dozens of publicly-traded companies made filings with the Securities and Exchange Commission indicating that they had large sums of uninsured deposits now frozen at Silicon Valley Bank. Several indicated that the amounts represented 23 to 26 percent of the company’s cash and/or cash equivalents. Roku, Inc., the publicly-traded manufacturer of digital media players for video streaming, reported the following to the SEC: “The Company has total cash and cash equivalents of approximately $1.9 billion as of March 10, 2023. Approximately $487 million is held at SVB, which represents approximately 26% of the Company’s cash and cash equivalents balance as of March 10, 2023.” Publicly-traded Oncorus, Inc., a biopharmaceutical company focused on developing RNA-based medicine for cancer patients, reported the following to the SEC: “The Company informs its investors that it has deposit accounts with SVB with an aggregate balance of approximately $10 million, which is approximately 23% of the Company’s total current cash, cash equivalents and short-term investments. In addition, the Company has a standby letter of credit in place with SVB of approximately $3.4 million securing obligations under its lease agreement with IQHQ-4 Corporate Drive, LLC.” In big, bold type on its website, Silicon Valley Bank bragged that “44% of U.S. venture-backed technology and healthcare IPOs YTD [year-to-date] bank with SVB.” To put it bluntly, this was a Wall Street IPO machine that enriched the investment banks on Wall Street by keeping the IPO pipeline moving; padded the bank accounts of the venture capital and private equity middlemen; and minted startup millionaires for ideas that often flamed out after the companies went public. These are the functions and risks taken by investment banks. Silicon Valley Bank – with this business model — should never have been allowed to hold a federally-insured banking charter and be backstopped by the U.S. taxpayer, who was on the hook for its incompetent bank management. We say incompetent based on this fact alone (although there were clearly lots of other problem areas): $150 billion of its $175 billion in deposits were uninsured. The bank was clearly playing a dangerous gambit with its depositors’ money. Adding further insult to U.S. taxpayers, the Federal Home Loan Bank of San Francisco was quietly bailing out SVB throughout much of last year. Federal Home Loan Banks are also not supposed to be in the business of bailing out venture capitalists or private equity titans. Their job is to provide loans to banks to promote mortgages to individuals and loans to promote affordable housing and community development. According to SEC filings by the Federal Home Loan Bank of San Francisco, its loan advances to SVB went from zero at the end of 2021 to a whopping $15 billion on December 31, 2022. The SEC filing provides a graph showing that SVB was its largest borrower at year end, with outstanding advances representing 17 percent of all loans made by the FHLB of San Francisco. Loan Advances Outstanding at Federal Home Loan Bank of San Francisco, December 31, 2022 Notably, another bank which had $14 billion of loans outstanding from the FHLB of San Francisco – First Republic Bank – saw its stock price plummet by 14.8 percent on Friday. In premarket trading this morning, its stock was down another 70 percent, despite the announcement of a new bailout facility last evening by the Fed. Western Alliance Bancorp, also on the FHLB of San Francisco’s list of its top 10 borrowers, saw its stock close with a loss of 20.88 percent on Friday. It had lost another 29 percent in premarket trading this morning. Another member of the top 10 borrowers at FHLB of San Francisco, Silvergate Bank, announced last Wednesday that it was closing shop and liquidating. Silvergate’s problem stemmed from the hot money it held in deposits from crypto companies heading for the exits as investigations began into its role in potentially laundering money for Sam Bankman-Fried’s collapsed house of frauds. Another crypto-related bank, Signature Bank, was shuttered by New York State regulators on Sunday, with the FDIC being named the receiver. All of its depositors, including its uninsured depositors, will also be made whole, according to a statement from the FDIC yesterday. Signature Bank’s filings with federal regulators indicate that more than $79 billion of its $88 billion in deposits were uninsured at the end of the fourth quarter of 2022. Signature Bank was also quietly tapping into ongoing bailouts from a Federal Home Loan Bank. In this case FHLB of New York. Its borrowings from FHLB of New York exploded in the fourth quarter of last year, rising to $11.3 billion. According to an SEC filing, as of September 30, 2022, it had total borrowing capacity of $23.4 billion from FHLB New York. We’re starting to see a pattern here. If you want to know which banks are going belly up next, simply look at which ones took the largest loan advances from a Federal Home Loan Bank last year. That appears to mean that they were seeing an exodus of depositor money and needed to plug their liquidity holes. The new emergency lending program set up by the Federal Reserve was announced last evening, as follows: “The additional funding will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. These assets will be valued at par. The BTFP will be an additional source of liquidity against high-quality securities, eliminating an institution’s need to quickly sell those securities in times of stress.” The translation of the above is as follows: to prevent banks from further panicking the markets by taking massive losses on their underwater Treasury securities by selling them in order to meet depositor withdrawals, we’re going to accept these Treasury securities as collateral for one-year loans and pretend that their market value is par (the full face amount at maturity). It’s not clear if this new emergency bailout program from the Fed complies with the statutory language of Dodd-Frank, which prohibits the Fed from setting up an emergency bailout program to bail out a specific financial institution; requires that it accept good collateral; and requires that any new Fed emergency facilities be broad-based across the financial industry. Federally-insured banks that did themselves in with crypto deposits or functioned as an IPO pipeline to Wall Street, do not appear to us to represent a broad base of the federally-insured, commercial banking industry in the U.S. The Fed’s bailout program, once again, appears to be rewarding hubris and enshrining moral hazard in the U.S. banking system. Equally troubling, both Silvergate Bank and Silicon Valley Bank were supervised by the Federal Reserve Bank of San Francisco. Why the San Francisco Fed’s bank examiners didn’t blow the whistle on the dangerous manner in which these banks were operating deserves its own investigation. For years now, Wall Street On Parade has warned that the crony Fed should be stripped of its supervision of banks.

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Second Draft (was MC Boss Webcomic, Re: Morning Spam)
by Karl 13 Mar '23

13 Mar '23

The first draft is still WIP, but the second is being brainstormed a little. I never expect to finish projects. This is a _fictional_ account, intended to _talk about real things via fiction_. I don't attend to the news, so it's all totally wrong and I have very few poignant events. The thorough coverup patterns have been altered to make what is happening more clear. It's June, 2016. A scruffy man approaches somebody on a way to a surgery. They move in a strange pace, a way they haven't walked much before, but they don't think much about it. They're talking to themselves. "Okay, but we're not going to hurt anybody. The gun's just for show. I have somewhere to be, you know?" They walk more purposefully. Suddenly, screaming. "Please! I don't want to do this! I don't like this person but I don't want to kill anybody! Please, oh God, oh God! Please! What is going on??" Tears and blood are flying. The shotgun is discharged three times. The man takes out a knife. "Something's moving my body! Oh my God, don't do this! I don't want to stab her, I don't want to stab her ... ! She's already dead!" The knife gashes a body fifteen times, and that of a bystander as well. Jo Cox lies died. https://en.wikipedia.org/wiki/Murder_of_Jo_Cox "Brexit!" the man's mouth cries, amidst his screams of complaint, as he runs off. [next could be: epstein's death which was called a suicide but has clear public evidence indicating it was murder by prison guard https://en.wikipedia.org/wiki/Murder_of_Jo_Cox ]

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Cryptocurrency: Prevents Humanity From Being Taxed Back Into SocComMarx Stone Age
by grarpamp 13 Mar '23

13 Mar '23

"How are we going to tax everybody when they have a Swiss Bank Account on their phone?! -- Barack Obama, Head Thief Liar and Fraudster" Windfall Tax Leads To Job Losses At UK's Largest Oil & Gas Producer https://oilprice.com/Latest-Energy-News/World-News/Windfall-Tax-Leads-To-Jo… The UK’s largest oil and gas producer, Harbour Energy, is cutting investments and jobs after the new windfall tax on the industry sapped nearly all of its 2022 profits. Harbour Energy’s profits last year were $2.5 billion, pre-tax, but after taxes, the company was left with just an $8 million profit - that’s after the $1.5 billion that needed to go towards the Energy Profits Levy. Harbour Energy has not divulged how many workers will lose their jobs. Harbour Energy said it has cut back on investments, too, with Harbour choosing not to move forward on two drill sites and declining to participate in the North Sea offshore licensing round. The windfall tax has hit UK North Sea producers, many which have already announced reduced investments on the UK Continental Shelf, the new head of trade body Offshore Energies UK said last month. The UK raised the windfall tax on oil and gas operators’ profits last autumn by 10 percentage points, to 35 percent. The increased rate for the Energy Profits Levy went into effect on January 1 of this year. It was also extended into March 2028, from December 2025. The additional levies increased the total tax rate on oil and gas companies to 75 percent - the highest of any industry in the UK. Shell has said it is reevaluating all of its UK projects which make up $30 billion of investments, and TotalEnergies has also said it would cut investments in the UK by 25 percent. Oil and gas companies saw a substantial increase in profits last year thanks to higher oil and gas prices amid geopolitical turmoil and tight markets.

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Cryptocurrency: Four Phases Of Hyperinflation via IMF Fiat GovBank CBDC... Got Crypto? Got Gold?
by grarpamp 13 Mar '23

13 Mar '23

The Four Phases Of Hyperinflation, According To The IMF https://bombthrower.com/the-four-stages-of-hyperinflation-according-to-the-… https://www.imf.org/-/media/Files/Publications/WP/2018/wp18266.ashx https://twitter.com/LynAldenContact/status/1629548147675484160 https://twitter.com/jameslavish/status/1627769987653062657 https://www.zerohedge.com/markets/fed-just-hinted-new-inflation-target-will… https://www.wsj.com/livecoverage/cpi-report-today-january-2023-inflation/ca… https://www.bloomberg.com/opinion/articles/2022-03-13/inflation-stings-most… https://twitter.com/ricwe123/status/1627232577110024194 https://www.bloomberg.com/news/articles/2023-03-10/summers-sees-no-systemic… https://bombthrower.com/meet-the-most-likely-base-layer-for-global-cbdcs-et… https://stacksatsnow.com/ Inflation is much more than a monetary phenomenon; it rips at the very core of social cohesion. Secular high inflation is one of the worst possible experiences a population can face. We are now heading for what looks like global high inflation across all currencies, with multiple episodes of hyperinflation. It will be unprecedented. The Four Phases of Hyperinflation Hyperinflations are generally defined as periods in which the monthly inflation rate exceeds 50%. In this 2018 paper, the IMF breaks hyperinflationary episodes out into four phases which comprise two stages: Phase One: is “the rise”. The IMF also calls this “the extraordinary acceleration phase” which is the lead-up to the hyperinflation. IMF actually terms it “the path toward hyperinflation”, but given that they define that as an annual inflation rate of greater than 50% but under 500%, an uncredentialed, non-economist observer might describe that as already being hyperinflation. “The average duration of the first phase is 8-9 years with an annual average inflation of 125 percent” Phase Two: is the actual hyperinflation proper. Wheelbarrows of money, burning banknotes in the oven (or more tragically, sticking your head in there). In one well storied example from Weimar Germany, an emigre fighting to retrieve his savings from a German bank was finally paid out – via a cheque mailed to him in America. The stamp on the envelope cost more than the value on the cheque made out to him. Over the eighteen 20th century hyperinflations covered in the IMF paper, the average inflation rate here, according to the IMF study was 2,912% and the median duration was four years – this “explosive” phase is usually over in about two years. Venezuela, isn’t in the graph because their hyperinflation took place in the 2000’s. It is noted therein, that the inflation rate there hit 488,865%. As we’ve covered in the premium letter, Venezuela has undergone three currency devaluations over the 14 years, knocking about half a dozen zeros off their banknotes each time (via the July 2021 issue of TCC): Venezuela is launching their Digital Bolivar CBDC in tandem with a currency redenomination that took effect Oct 1st. They knocked six zeros off of their banknotes in an effort to get in front of the hyperinflation which has ravaged the economy for years. This is the third currency redenomination for Venezuela in 13 years. In 2018 they knocked five zeros off the currency and in 2008 they took away three zeroes. Maybe this is another indicator of hyperinflation? When the time between redenominations shrinks while the number of zeroes removed increases…. (The prior two devaluations also coincided with the launching of a Central Bank Digital Currency). Phases Three and Four are the second stage of a hyper inflationary event: “disinflation” – where the annual inflation rate plummets to somewhere between 50% and 500% and lasts another six years on average – and finally the “stabilization” phase, where inflation remains under 50% per year for at least three years. The case for a “Phase Zero” of Hyperinflation: I would argue that there is a Phase Zero: where the future inflationary path becomes baked in by unsustainable debt. While policy makers are still able to talk with a straight face as if there is an alternative, the path to inflation is assured. We’ve been in Phase Zero for over 50 years, since the Nixon shock of 1971. We are at the edges of the Phase Zero to One transition now. Back in the 1940s during WWII, public debt to GDP quickly jumped from 40% to over 100%. But, this actually understates the scale of what happened. Debt went from $43 billion to $258 billion, which was a 500% increase in five years. pic.twitter.com/6rA4bglkBp — Lyn Alden (@LynAldenContact) February 25, 2023 Phase zero could probably be defined as the moment a currency becomes fiat. We notice from Lyn Alden’s chart, of US debt-to-GDP above, that after the World War II spending binge, the ratio actually declined. Over the Leave-It-To-Beaver and Hippies era, it came down to below the level it was before the war. Then came the Nixon Shock in the early 70’s, when the last vestiges of gold convertibility were suspended (“temporarily”). Since then, the global monetary system has been irrevocably committed to an inflationary path. In this James Lavish Twitter thread, various participants look at how the interest due on America’s debt has entered the territory where it is cannibalizing the budget expenditures. When you have to borrow more, at higher interest rates, this is what happens. It’s really simple. And scary. pic.twitter.com/zA3eyVfBdq — James Lavish (@jameslavish) February 20, 2023 Seen in this light, it’s no surprise that central banks around the world are already backing off the interest rate hikes (Canada has already said they’re on hold, and the only thing the US is meaningfully tapering is the size of the rate hikes). [ Insert: In previous editions of the letter it was always reiterated that the Fed will continue hiking “until something breaks” in the credit markets / banking system. Given the startling and rapid collapse of the Silicon Valley Bank over the past couple days, we may be getting there ] If the Fed slows down hikes, they have to normalize higher inflation. The folks over at Zerohedge once predicted that when it becomes clear that the Fed can’t control money supply, they would start dropping “leaks” that the hallowed “target inflation rate” would be raised. Right now that’s 2%, pretty well across all civilized nations. That’s the golden rate at which governments can embezzle wealth from the economy and the peasants will let them get away with it. But to get inflation down to that level, according to this Obama-era advisor, that would mean in excess of 6% unemployment for two years. The Fed wants “demand destruction” (which means people lose their jobs or their business) – but not too much demand destruction. Apparently 6% for 2 years is too much, so the level of embezzlement will have to be raised. It’s not like we’re talking hyper-inflationary numbers, yet – right? But raising a target inflation rate from 2% to 3% is a 50% hike in the rate of theft. Fear not, the corporate press is always there with a solution. In this case it’s the Wall Street Journal suggesting you could skip breakfast “Several breakfast staples saw sharp price increases due to a perfect storm of bad weather and disease outbreaks—and continued effects from Russia’s invasion of Ukraine.” This reminds me of the infamous Bloomberg piece on how to make ends meet on a measly $300,000 / year… advice included that you get rid of your car, switch from eating meat to lentils… and euthanizing your dog. This all jives with our core premise that the ESG movement is so widely endorsed by “woke” capitalists because it provides cover for the reality that we are in an unsustainable debt bubble and monetary expansion – and that the rabble has to ratchet down their living standards to cope. We can look at weaker economies to see what the future looks like: Lebanon just did a currency devaluation – reducing the official exchange rate by 90%, overnight. This came after a spat of bank robberies, where citizens were sticking up banks to get their own money out. Now they’re burning them down. In Lebanon people are burning down financial institutions and politicians' homes to reclaim their own money which has been frozen by the banks. Keep in mind with CBDC the financial establishment has the ability to freeze your money with a push on a button..... pic.twitter.com/kNIn8Z1Gbh — Richard (@ricwe123) February 19, 2023 On January 31st, Lebanese citizens went to bed thinking the official exchange rate on the Lebanese pound was around 1500 to 1 USD, (whether or not they could actually get at their money, that was the rate). When they awoke the next morning, the official exchange rate had been set to 15,000 Lebanese pounds to 1 USD. The black market rate was even worse, coming in around 64,000. In Bitcoin terms, the collapse was even more pronounced: The fiat system is collapsing, weaker currencies first – but anything not backed by something tangible is headed for the dumpster of history. In prior high inflation or hyperinflationary events, people could always seek refuge in other currencies or adopt some kind of “notgeld” (emergency money). But in this chapter, it’s every currency, across all political affiliations, and jeopardizing every incumbent power structure. (Which is why it seems like the world is sleepwalking into another world war, if we’re not already in the early innings of one.) It may seem like being on alert for hyperinflation here in the West is bonkers, but we’re already seeing massive fissures in the financial system opening up from normalizing interest rates to %4.57, well below even the official rate of inflation – and that hallowed “Fed Taper” still hasn’t even gotten going yet… It probably never will. Banking crises are here (we’ve had two in under a week, if you count the Elizabeth Warren-led rat-fucking of Silvergate), and former Treasury Secretary Larry Summers went on Bloomberg to say this “won’t be a source of systemic risk”. It remains to be seen if that utterance gets filed next to “sub-prime is contained”. If we squeak through this crisis, we buy some time but only forestall the inevitable destruction the global financial system, which explains the incessant drive toward CBDCs, but that could all be too late, given the rate of collapse. This morning I woke up to see USDC had de-pegged to as low as 0.82, and while it looks like it will probably re-peg in due course (I sent a note about that to my premium list earlier today), it reinforces my core tenet that volatility aside, the only thing I really trust to be around for the foreseeable future, (and that I can move in an instant during a financial collapse) …is Bitcoin.

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[ml][ot] low-end rlhf ala chatgpt, huggingface
by Undescribed Horrific Abuse, One Victim & Survivor of Many 12 Mar '23

12 Mar '23

i guess huggingface put themselves in charge of machine learning technology trickling down to the masses in a controlled way they released a lengthy tutorial that explains the parts, on using a new patch to their libraries to make custom large models on low end hardware. it combines the chatgpt rlhf approach with the adapter peft approach and appears to be roughly what is presently the normative cutting edge https://www.reddit.com/r/MachineLearning/comments/11p3a0j/d_finetuning_20b_… https://huggingface.co/blog/trl-peft

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A RESOLUTION OF THE MIAMI CITY COMMISSION DIRECTING THE CITY MANAGER TO PRESENT TO THE CITY COMMISSION FOR ITS REVIEW AND APPROVAL ANY AND ALL OPTIONS FOR THE USE OF THE GIFTS RECEIVED PURSUANT TO THE GIFT AGREEMENT WITH CITYCOINS, INC.
by Gunnar Larson 12 Mar '23

12 Mar '23

File Number: 10726 Final Action Date: 9/13/2021 A RESOLUTION OF THE MIAMI CITY COMMISSION DIRECTING THE CITY MANAGER TO PRESENT TO THE CITY COMMISSION FOR ITS REVIEW AND APPROVAL ANY AND ALL OPTIONS FOR THE USE OF THE GIFTS RECEIVED PURSUANT TO THE GIFT AGREEMENT WITH CITYCOINS, INC. WHEREAS, the City Commission adopted Resolution No. R-21-0345 on September 13, 2021, which authorized the City Manager to accept the gifts from and execute a Gift Agreement with CityCoins, Inc.; and WHEREAS, the gifts may be used for any valid governmental, municipal, and/or public purpose; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. The City Manager is hereby directed to present to the City Commission for its review and approval any and all options for the use of the gifts received pursuant to the Gift Agreement with CityCoins, Inc. Section 3. This Resolution shall become effective immediately upon adoption. APPROVED AS TO FORM AND CORRECTNESS:

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[External Message Added] City of Miami public records request #22-459
by Gunnar Larson 12 Mar '23

12 Mar '23

Gunnar Larson <g(a)xny.io> Fri, Apr 15, 2022 at 11:27 AM To: miami_22-459-requester-notes(a)inbound.nextrequest.com, abrdar(a)miamigov.com Cc: cypherpunks <cypherpunks(a)lists.cpunks.org> Dear City of Miami: Thank you for your email. However, the PDF documents are not attached. The file still links to .psd files. City of Miami, on February 4, 2022 kindly submitted a records request for any and all correspondence between the City of Miami concerning CityCoins, MIA Coin and Stacks (STX). Additionally, any and all related correspondence concerning CityCoins, MIA Coin, Stacks (STX), Digital World Acquisition Corp and Harvard Management Company. 1. On March 7, 2022, Miami came to us noting 13,092 e-mail records were returned for the above keywords. 2. Today on April 15, 2022 we have yet to receive the records in a timely and reliable manner. 3. Given several factors of delay in receiving these records, we must take our concern to The Financial Crimes Enforcement Network (FinCEN). FinCEN is the bureau of the United States Department of the Treasury that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes. Sending you the very best regards. Thank you, Gunnar Larson -- Gunnar Larson - xNY.io - Bank.org, PBC MSc - Digital Currency MBA - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-646-454-9107 New York, New York 10001 [Quoted text hidden]

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Tension between risk and reward that anarchists navigate when creating illegal actions
by professor rat 12 Mar '23

12 Mar '23

Flashpoint Atlanta Forrest >>> The cops and state prosecutors’ heavy-handed response to this action and their usage of draconian domestic terrorism charges is intended to terrorize participants, instill a sense of paranoia and division, and crush future resistance to the Cop City project. https://scenes.noblogs.org/post/2023/03/10/a-response-to-the-note-on-rats-b… Reposts not too hot and not too cold

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Paris Erupts In Chaos, Again
by grarpamp 12 Mar '23

12 Mar '23

https://twitter.com/ivan_8848/status/1634674338161885187

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Cryptocurrency: GovBankPol Tries Sneaking Anti-Crypto Into Pro-CBDC Bills, WarOnCrypto, 1984 Social Score, Credit Coding, Bank Run
by grarpamp 12 Mar '23

12 Mar '23

Wake Up You Sheep and Fight Back for Freedom! 110+ pages of 1984 BULLSHIT pandered by Banksters... And NOBODY read it... https://twitter.com/KristiNoem/status/1634403770049220608 Noem on Tucker re CBDC More than 20 other states have the same UCC language in front of them. These bills change the definition of “money,” make it harder to use cryptocurrency, and make it easier for the federal government to impose a CBDC. These states must block this legislation from passing. https://twitter.com/KristiNoem/status/1634691481121308672 I VETOED a bill that changes the definition of money, and that opens the door for the federal government to adopt a Central Bank Digital Currency. But more than 20 other states are facing the same legislation. Thank you @TuckerCarlson for helping us get the word out! South Dakota will always protect economic Freedom. I’m discussing my VETO of the UCC bill tonight at 7:20 CT with @TuckerCarlson. I VETOED HB 1193. This bill adopts a definition of ‘money’ to specifically exclude crypto like Bitcoin. And it opens the door to the risk that the federal government could adopt a Central Bank Digital Currency. This legislative session, we’re cutting taxes — not raising them. Today, I VETOED a tax increase. We are cutting taxes this legislative session, not increasing them. https://www.youtube.com/watch?v=CciOpfL4D6c Grocery Tax Cut Club for Growth @club4growth Thank you to @govkristinoem for VETOING HB 1193 which limits digital asset freedom in SD! “[Digital assets] are among the best hopes to protect our fundamental liberties to free speech, free association, and the free exchange of ideas." - @DavidMMcintosh https://news.sd.gov/news?id=news_kb_article_view&sys_id=1d1a38781b21a15031b… Gov. Noem VETOES Attack on Economic Freedom Yesterday, Governor Kristi Noem VETOED House Bill 1193, which would infringe upon Freedom in digital currency. Something favorable in this clout of mess (i.redd.it) submitted 15 hours ago by noob_zarathustra 167 comments share save hide report all 167 comments sorted by: best Want to add to the discussion? Post a comment! [–]Educational-Cat-2553redditor for 6 days 258 points 13 hours ago I guess a regular ball pen was too ordinary for social appearance. permalink embed save report give award reply [–]Kennyfortytwo 89 points 12 hours ago It’s probably state law that a veto is done with a cattle brand rather than a stamp /s permalink embed save parent report give award reply [–]ArnzenArms 27 points 9 hours ago According to this, it looks like its custom and used for the first time this year, but not on this bill: https://www.yahoo.com/news/sd-gov-noem-issues-first-191610426.html permalink embed save parent report give award reply [–]scuczu 35 points 10 hours ago political theater is all these bad-faith actors have. permalink embed save parent report give award reply [–]ChuckSRQ 13 points 10 hours ago As usual, when the politician supporting Bitcoin is from the “wrong” party. They are not to be acknowledged. And they get mad when you do. permalink embed save parent report give award reply [–][deleted] 9 hours ago* [removed] [–]cooleryouthpastor 7 points 3 hours ago Noem is a political hack who wants to keep the financial sector donors on her side. This bill that Noem just vetoed was backed by financial institutions and banks. They wanted this bill passed. permalink embed save parent report give award reply [–]scuczu 11 points 10 hours ago no, grifters are grifters, and right wing opportunists are clinging to crypto as something worthwhile because of the libertarian overlap in the crypto spaces. You see it with Cruz and texas politicians, it's bullshit to get some positive response because the rest of their platform leads to shit for everyone. permalink embed save parent report give award reply [–]Acceptable-Risks 11 points 10 hours ago Newsflash for ya. Most bitcoiners in the US aren't coming from the left. permalink embed save parent report give award reply [–]scuczu 2 points 10 hours ago yea i know, there's a lot of crypto people from the right, because they're all rich kid libertarians living on family wealth believing they earned it and worked harder than anyone else being born into their family. Plenty of left leaners in the space, just a lot of fascist simp idiots too. permalink embed save parent report give award reply [–]Curiouspiwakawaka 20 points 9 hours ago Hmmmm, it's almost like cryptocurrency doesn't have any political affiliation. How strange permalink embed save parent report give award reply [–]Stock_Frosting9087 15 points 9 hours ago Poor libertarian here. I accept any political views just as long as they partake in bitcoin. Right tards and left tards welcome!!! permalink embed save parent report give award reply [–]SlowMotionPanic 1 point 8 hours ago A major problem is that people, like Noem, belong to the same school of thought that delivered us this financial and political problem. I firmly think their embrace of "crypto" is a cynical ploy just like liberal politicians' general distain of it is as well. They both want a status quo, with Republicans generally holding the door for status quo players to dominate the space and status quo Democrats trying to slam it shut to maintain the status quo but with fewer steps. permalink embed save parent report give award reply [–]Ur_mothers_keeper 1 point 7 hours ago Or maybe, and try to understand this, it's because we want to be left the fuck alone. Libertarianism used to be associated with the left back when the common cause was gay marriage. What happened? What happened is you fuckers can't live and let live, you must conquer and control everything. You're just as bad as the bible thumpers. Bitcoin enables us to not have to give a single fuck what you expect of us. permalink embed save parent report give award reply [+]Acceptable-Risks -8 points 10 hours ago Wow, talk about delusional. OK, buddy you stay in your little cave. permalink embed save parent report give award reply [–]wetokebitcoins 0 points 2 hours ago you are using wrong think comrade, I think you might need some re-education. permalink embed save parent report give award reply [–]seansy5000 15 points 11 hours ago The definition of grandstanding over something they have zero influence on. permalink embed save parent report give award reply [–]stahleo 13 points 7 hours ago Do you know the role of a governor? permalink embed save parent report give award reply [–]Ur_mothers_keeper 19 points 7 hours ago This is the governor of the state that passed the bill vetoing it. She absolutely has influence over this. permalink embed save parent report give award reply [–]SlowMotionPanic -2 points 8 hours ago I believe Republicans like Noem prefer the term "virtue signaling" when they accuse others of being performative for attention. She is virtue signaling. It is a bit ridiculous, like something a narcissist would do to gain maximum attention. permalink embed save parent report give award reply [–]MathematicianLazy427 5 points 3 hours ago Why can't you just be happy Bitcoin had a win in the political world? Are you really that consumed by politics? You seem miserable. permalink embed save parent report give award reply [–]MathematicianLazy427 0 points 3 hours ago something they have zero influence on. Do you know what a veto is? Bitcoin is inherently political, so it's very funny you don't know what a veto is. permalink embed save parent report give award reply [–]liquefire81 28 points 10 hours ago Politicians trying to make rules for something they cannot control. Amusing what decentralization actually means. permalink embed save report give award reply [–]halt_spell 100 points 13 hours ago* Not that we needed their approval but it's a nice gesture I suppose. EDIT: Quick appeal to the other commenters here, forget the politics. Remember why Bitcoin was created: Money is too important to be so easily controlled by people. Maybe you think the people today are "on your side" but that means tomorrow could bring the opposite. Bitcoin doesn't need approval from anyone. Beware of anyone grand standing as if they're defending it. If Bitcoin needed them to succeed it has already failed. permalink embed save report give award reply [–]noob_zarathustra[S] 14 points 13 hours ago Haha yeah, surely helps with education and adoption to some extent permalink embed save parent report give award reply [–]HalfRick 2 points 10 hours ago* Checking her wiki. Anti-abortion, anti-protests, nepotism-fuelled blackmail to give her daughter special treatment, anti-masker promoting tourism in her state in the height of the pandemic, touting hydroxychloroquine, refusing federal aid to her state’s unemployed, removing the need for permit to conceal carry, being against gay marriage… Jesus Christ. This is the last person I want on my side. And seeing the absolute nut jobs in her comments… I wish she was pro this bill instead of bringing her vile self and her friends to this. “Forget the politics”. Hitler’s animal rights which he imposed during his rule are still better and stronger than in most countries in the world. Yet you don’t see very many animal rights supporters praise his actions or calling it a nice gesture. This one is against a programmable CBDC only until the day she can control it. permalink embed save parent report give award reply [–]halt_spell 8 points 9 hours ago Only a few politicians are on the side of the working class. Honey badger doesn't give a fuck. I know there are probably a few people here who don't remember a lot about 2008. That whole shit storm made it very clear to me and a bunch of other people governments can't be trusted with money. Doesn't matter what their other values are, when push comes to shove they side with the rich and powerful and fuck over normal people. The hope is Bitcoin gives normal people a chance to resist. Stop thinking Bitcoin needs the blessing of some politician or that a blessing by a politician has any meaning at all. permalink embed save parent report give award reply [–]ChuckSRQ 4 points 10 hours ago So you’re comparing the democratically elected Governor of South Dakota to Hitler? Lol… get a grip. permalink embed save parent report give award reply [+]Stock_Frosting9087 -7 points 8 hours ago Calm down halfdick permalink embed save parent report give award reply [–]noob_zarathustra[S] 26 points 15 hours ago* The bill states that "any monies prior to a digital currency being enacted by a federal government would be null and void," said Rep. Mulally. Anyone interested can find Kristi talking about it here - https://twitter.com/KristiNoem/status/1634403770049220608?t=g8mHviY_BX7gC6L… permalink embed save report give award reply [–]BCMaxyredditor for 1 week 31 points 12 hours ago What fucking idiot even came up with this bill? permalink embed save parent report give award reply [–]Jinga1 25 points 11 hours ago SD republicans permalink embed save parent report give award reply [–]Lateraltwo 6 points 9 hours ago S h o c k e r permalink embed save parent report give award reply [–]Morgothic 3 points 9 hours ago I don't care enough to read the bill, but if that part in quotes is the full-stop effect of it, then wouldn't it include cash, gold, literally everything other than a federal digital currency? "Any monies" not "any digital monies"? permalink embed save parent report give award reply [–]noob_zarathustra[S] 3 points 7 hours ago I suppose that the essence here is 'anything not enacted by the federal govt. would be null and void' ~ changing the definition of money to that of legal tender, what a shocker ⢀⣠⣾⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠀⠀⠀⠀⣠⣤⣶⣶ ⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠀⠀⠀⢰⣿⣿⣿⣿ ⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣧⣀⣀⣾⣿⣿⣿⣿ ⣿⣿⣿⣿⣿⡏⠉⠛⢿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⡿⣿ ⣿⣿⣿⣿⣿⣿⠀⠀⠀⠈⠛⢿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⣿⠿⠛⠉⠁⠀⣿ ⣿⣿⣿⣿⣿⣿⣧⡀⠀⠀⠀⠀⠙⠿⠿⠿⠻⠿⠿⠟⠿⠛⠉⠀⠀⠀⠀⠀⣸⣿ ⣿⣿⣿⣿⣿⣿⣿⣷⣄⠀⡀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⢀⣴⣿⣿ ⣿⣿⣿⣿⣿⣿⣿⣿⣿⠏⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠠⣴⣿⣿⣿⣿ ⣿⣿⣿⣿⣿⣿⣿⣿⡟⠀⠀⢰⣹⡆⠀⠀⠀⠀⠀⠀⣭⣷⠀⠀⠀⠸⣿⣿⣿⣿ ⣿⣿⣿⣿⣿⣿⣿⣿⠃⠀⠀⠈⠉⠀⠀⠤⠄⠀⠀⠀⠉⠁⠀⠀⠀⠀⢿⣿⣿⣿ ⣿⣿⣿⣿⣿⣿⣿⣿⢾⣿⣷⠀⠀⠀⠀⡠⠤⢄⠀⠀⠀⠠⣿⣿⣷⠀⢸⣿⣿⣿ ⣿⣿⣿⣿⣿⣿⣿⣿⡀⠉⠀⠀⠀⠀⠀⢄⠀⢀⠀⠀⠀⠀⠉⠉⠁⠀⠀⣿⣿⣿ ⣿⣿⣿⣿⣿⣿⣿⣿⣧⠀⠀⠀⠀⠀⠀⠀⠈⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⢹⣿⣿ ⣿⣿⣿⣿⣿⣿⣿⣿⣿⠃⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⢸⣿⣿ permalink embed save parent report give award reply [–]clue5tick 29 points 15 hours ago There is no crypto like Bitcoin, Kristi. permalink embed save report give award reply [+]noob_zarathustra[S] -6 points 13 hours ago Can someone please award this so that Kristi takes notice if she's around😅 permalink embed save parent report give award reply [–]lordzaior 5 points 11 hours ago lol this comment section is something 😂 fuck CBDCs and move on permalink embed save report give award reply [–]Admirable_Ad5898 3 points 7 hours ago Hell yeah! At least she knows what’s up! permalink embed save report give award reply [–]dynamic_unreality 39 points 12 hours ago The fucking brand makes me hate her. We don't need that social media type behavior in our governments permalink embed save report give award reply [–]rnobgyn 5 points 9 hours ago Buddy this kind of behavior is as old as politics permalink embed save parent report give award reply [–]MadManD3vi0us 6 points 12 hours ago For real. It looks pretty dumb permalink embed save parent report give award reply [–]RoyYourWorkingBoy -3 points 10 hours ago I'm surprised they aren't taking the bill outside and shooting it with a shotgun as a veto like John Wayne would do. \s permalink embed save parent report give award reply [–]DoobeyDibbles 6 points 12 hours ago The brand is not the source of your hate permalink embed save parent report give award reply [–]dynamic_unreality -1 points 12 hours ago It absolutely is. permalink embed save parent report give award reply [–]brendzy 2 points 10 hours ago Nxivm member? permalink embed save parent report give award reply [–]bigbadhonda 2 points 9 hours ago Performative bullshit like this pisses me off too. Goddamn props have a place in pro wrestling, not the halls of government. permalink embed save parent report give award reply [–]mejustnow 0 points 3 hours ago This isn’t “performative” she’s just being extra with her veto stamp. You can call it tacky or stupid but she’s not exactly pandering like the dashiki wearing democrats…. permalink embed save parent report give award reply [+]Effective_Albatros -8 points 12 hours ago On the contrary. You probably just oppose her political party and ideology. We should want every governor to make as public a rejection of anti Bitcoin legislation as possible. Shout it from the rooftops, regardless of one’s party. Anti Bitcoin legislation is not welcome and will be vetoed on arrival, sending a message in the most vocal way possible. permalink embed save parent report give award reply [–]dynamic_unreality 21 points 12 hours ago What the fuck is up with people trying to tell me what I think? No, I hate the political theater that is that stupid ass brand. I wouldn't care if I agreed with her on every single issue, that kind of stupid ass political social media posing is childish and has no place in our government permalink embed save parent report give award reply [–]not_beniot 5 points 10 hours ago Using a branding iron that's actually just a stamp is the dumbest thing I've ever seen regardless of political party lol permalink embed save parent report give award reply [+]SeriousGains -5 points 11 hours ago Good reason to hate someone. Posting your stance on legislation on social media in a way that connects with your base and culture, bad. Making hidden back room deals to further your own political career and fill your pockets while pandering to your constituents, good! permalink embed save parent report give award reply [–]dynamic_unreality -2 points 9 hours ago Omfg shut up permalink embed save parent report give award reply [–]stahleo 8 points 6 hours ago Something favorable yet fringe Reddit will find a way to hate it, all because she is a Republican. permalink embed save report give award reply [–]soarky325 5 points 11 hours ago Interestingly enough, the constitution already provides a definition of money lol permalink embed save report give award reply [–]LadyAnarki 15 points 9 hours ago They've forgotten about that document for a few decades now. permalink embed save parent report give award reply [–]poorhumanbeing 23 points 14 hours ago Bitcoin is cool, Krusty noem is not cool. permalink embed save report give award reply [–]Orphanboys 10 points 13 hours ago* What about her isn’t cool? I don’t know much about her permalink embed save parent report give award reply [–]ted3681 9 points 7 hours ago Destroyed the states populaces ability to vote on weed bills. permalink embed save parent report give award reply [–]ipkiss_stanleyipkiss 4 points 12 hours ago Wrong capital letter association most likely permalink embed save parent report give award reply [–]Orphanboys 2 points 12 hours ago If that’s his reason, that’s pretty lame. If she did something good for Bitcoin people in this sub should be happy for her, right? permalink embed save parent report give award reply [–]Ur_mothers_keeper 12 points 7 hours ago You forget this sub is not an atomic standalone bitcoin community. these people are all redditors too. permalink embed save parent report give award reply [–]nitric_fights -2 points 11 hours ago most of the world gives zero fucks for what this shithead is babling… permalink embed save parent report give award reply [–]Morgothic -4 points 9 hours ago If she did something good for bitcoin She didn't. Vetoing the bill may have been a good thing overall (or not, I don't know anything about it), but it did nothing to help or hinder bitcoin. The entire point of bitcoin is that it stands regardless of what politicians do about it. At best this display of grandstanding gave her base a more favorable view of bitcoin. But she's the governor of a state of 900k that no one cares about, so her base isn't very big or influential. permalink embed save parent report give award reply [–]No-Introduction-6368 1 point 7 hours ago She signed a bill to deny transgender minors from getting medical treatment. Basic Republican with a room temperature IQ. permalink embed save parent report give award reply [–]Chultan 2 points 5 hours ago Based permalink embed save parent report give award reply [+]cryptosareagirlsbf -9 points 10 hours ago I did a quick google. According to Wikipedia, she's a member of the Republican party and from a quick glance at her views on things, it seems that even when on occasion an original thought pops into her head, she's quick to squash it. Also, she grew up on a ranch. Perhaps explains the brand? permalink embed save parent report give award reply [+]Mentally- -22 points 13 hours ago Cry harder permalink embed save parent report give award reply [–]launcelot02 8 points 14 hours ago I find it amusing. People are so blind that they are willing to lose their hard work effort for their political team. All the while promoting the political team who are trying to kill their hope of ever having anything of monetary value. permalink embed save report give award reply [–]3DprintRC 19 points 14 hours ago* Bitcoin is inevitable. Fascism is avoidable. permalink embed save parent report give award reply [–]fjzappa 1 point 13 hours ago So... what are you trying to tell us? permalink embed save parent report give award reply [–]3DprintRC 24 points 13 hours ago Don't vote for fascists just because they're pretending to be on your side on one thing that wil happen no matter who you vote for. permalink embed save parent report give award reply [–]fjzappa 5 points 6 hours ago Can you define "fascist?" permalink embed save parent report give award reply [–]noob_zarathustra[S] 1 point 13 hours ago Spot on permalink embed save parent report give award reply [–]IamHellgod07 3 points 12 hours ago Bitcoin is different from other crypto(most are pump and dump schemes) permalink embed save report give award reply [–]birmingslam 2 points 8 hours ago all 12 residents of SD agree! permalink embed save report give award reply [–]Inthefi8 4 points 10 hours ago Love her permalink embed save report give award reply [–]iamtheonewhorox 3 points 10 hours ago Thank you, Governor Hottie. We love you. permalink embed save report give award reply [–]Throwaway99887767 5 points 11 hours ago Side note, she’s really beautiful permalink embed save report give award reply [–]Mentally- 6 points 13 hours ago AcKuAllY tHiS iS a RePubLicAn sO tHiS is BaD - Le Redditor Cunt permalink embed save report give award reply [–]AFaded 2 points 12 hours ago What exactly is that? A stamp or a brand?, is that legit what they use or was that used for dramatic effect? permalink embed save report give award reply [–]SignificantClaim6257 0 points 10 hours ago No, lol. It’s just a goofy media stunt. An actual veto literally means doing jack shit. permalink embed save parent report give award reply [–]RoyalConsideration70 2 points 11 hours ago She can stamp me permalink embed save report give award reply [–]JaketheSnake319 2 points 12 hours ago Lmao! Is she using a branding iron to veto the bill?! That’s ridiculous permalink embed save report give award reply [–]kale_boriak 2 points 10 hours ago Just don’t ask them about their trust laws that have allowed generations of wealthy assholes to hide money and avoid paying any taxes. Economic freedom my ass. permalink embed save report give award reply [–]Ur_mothers_keeper 1 point 7 hours ago Everyone should have these options. permalink embed save parent report give award reply [–]kale_boriak 1 point 7 hours ago That’s one way to societal collapse, not sure it’s the best way though permalink embed save parent report give award reply [–]Ur_mothers_keeper 2 points 7 hours ago What would you call "economic freedom"? permalink embed save parent report give award reply [–]awalktojericho 1 point 11 hours ago She's ruining that table. permalink embed save report give award reply [–]HalfRick -2 points 11 hours ago Checking her wiki. Anti-abortion, anti-protests, nepotism-fuelled blackmail to give her daughters special treatment, anti-masker promoting tourism in her state in the height of the pandemic, touting hydroxychloroquine, refusing federal aid to her state’s unemployed, removing the need for permit to conceal carry, being against gay marriage… Jesus Christ. This is the last person I want on my side. And seeing the absolute nut jobs in her comments… I wish she was pro this bill instead of bringing her vile self and her friends to this. permalink embed save report give award reply [–]theghostofdeno 3 points 8 hours ago “Anti masker” is a ridiculous, low IQ propaganda term, and politicians who stood up to arbitrary, psychologically crippling lockdown culture have been vindicated at every level of analysis. permalink embed save parent report give award reply [–]HalfRick 0 points 8 hours ago Sure they have. permalink embed save parent report give award reply [–]Ur_mothers_keeper 0 points 7 hours ago Besides the nepotism that all sounds fantastic. permalink embed save parent report give award reply [–]Desperate_Move_5043 2 points 10 hours ago Ugh for real permalink embed save parent report give award reply [–]yazalama 0 points 8 hours ago Fucking based permalink embed save parent report give award reply [–]EJohanSolo 1 point 7 hours ago Isn’t this a good thing??? Can someone give me the tldr on the bill??? Looks like this is against central bank digital currency. I’m for that if so. Bitcoin isn’t going anywhere either way. permalink embed save report give award reply [–]TomentoShow 1 point 7 hours ago We're not stupid. That clearly says \ETO. Nice try. permalink embed save report give award reply [+]U_Mad_Bro_33 -13 points 14 hours ago Damn she is the hottest politician I've ever seen. And she makes good political decisions. You South Dakotan's got it good. permalink embed save report give award reply [–]rhhkeely -2 points 13 hours ago Too bad she's a fascist and a corporate shill permalink embed save parent report give award reply [–]killyaselfhoe 8 points 13 hours ago Being anti-lockdown is fascist? permalink embed save parent report give award reply [+]RealLiveKindnessredditor for 4 weeks -11 points 12 hours ago Yup she’s against public health measures not because she cares, but because it’s popular. Face it nobody wants to wear a mask. She’ll pat you on the back with one hand and pick your pocket with the other. Tell you what you want to hear until she either has all the money or there’s nothing you can do about it anyway. At least now your vote still counts somewhat. permalink embed save parent report give award reply [–]stempole 9 points 11 hours ago Yeah you might want to update your talking points... And not having the government force people to do something is fascist... Yeah you might want to look up what that word means. permalink embed save parent report give award reply [–]theghostofdeno 2 points 8 hours ago That’s some hard-hitting political analysis right there permalink embed save parent report give award reply [–]mcnello 1 point 12 hours ago It's pretty fucking well recognized by the scientific community now that masks did absolutely jack shit. Even the fucking government agencies that advocated for them have finally admitted they didn't work. https://youtu.be/S3vY2LyQn1A permalink embed save parent report give award reply [+]U_Mad_Bro_33 -7 points 13 hours ago All gov't is fascist, unfortunate fact of life. Just look at big tech and big pharma collusion with feds over the last 3 years. If Kristi is just as corrupt, at least I don't have to look at wrinkly 90 year olds as they fuck me over permalink embed save parent report give award reply [–]noob_zarathustra[S] 1 point 13 hours ago* I bet she plays quite a role in spreading awareness permalink embed save parent report give award reply [–]itsdone20 0 points 15 hours ago A keto bill permalink embed save report give award reply [–]TheDr0p 0 points 12 hours ago Is the branding iron a SD thing or just for this bill or what’s going on. permalink embed save report give award reply [–]thanosied -1 points 11 hours ago I wish we could have a hot governor permalink embed save report give award reply [+]errlluredditor for 6 weeks -5 points 12 hours ago Dam yanks wtf is this branding tool? You were sending slaves as a veto back in the day or wat? permalink embed save report give award reply [–]yaowei520 0 points 7 hours ago Bank of Silicon Valley collapsed Now it is not the safest thing to put money in the bank. The next wave will cause a tsunami in the stock market, so it is the safest thing for the current funds to be stored in cryptocurrency accounts. Property can be transferred at any time permalink embed save report give award reply [–]kcvis 1 point 10 hours ago \ETO permalink embed save report give award reply [–]Ontopourmama 1 point 10 hours ago Is her branding iron really just covered in lipstick? permalink embed save report give award reply [–]fleeyevegans 1 point 10 hours ago K the veto brand is tight even though I disagree with a lot of her philosophies. permalink embed save report give award reply [–]born_at_kfc 1 point 10 hours ago She vetos something that could shake up the banking industry because South Dakota has the most bank owned assets of any state, over 3 trillion dollars. That money generates income for the state that is crucial to their balance sheet. She does what Wells Fargo and Citibank tell her to do, she is not a hero, she is a pawn. permalink embed save report give award reply [–]jaraxel_arabani 1 point 10 hours ago To be fair I think that veto stamp she's using should be standard for all politicians permalink embed save parent report give award reply [–]davoste 1 point 9 hours ago Wait! I think she's confused! permalink embed save report give award reply [–]Blackash99 1 point 8 hours ago I'M SOOOOCOOL! permalink embed save report give award reply [–]ruthless_anon 1 point 7 hours ago might have to move there after this shit plays out lol permalink embed save report give award reply [–]fixed_melodrama42 1 point 6 hours ago I love her very much permalink embed save report give award reply

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