Hold on to your seatbelts, the world economy is on a crazy rollercoaster ride!

As I read Hive account@khaleelkazi's post Hive Solves This | A Diverse Web3 Experience During a Crumbling Global Economy... which is about the banking crisis, bank closures, and how Hive fixes the main problem of account holders hurt by a bank closure. This made me realize that banks now look more risky then cryptocurrency.

Why do banks look more risky then cryptocurrency?

Last week Silvergate Bank, Signature Bank and Silicon Valley Bank were seized by the FDIC and shuttered
Then thousands of businesses and individuals woke up Monday to the definition of Uninsured Bank deposits meaning those whose accounts held amounts greater then the FDIC insurance limit of 250,000 dollars
Their new reality as uninsured bank depositors was that their money, in banks, wasn't safe, and they don't have access to it.
They are now facing a future where they maynot have access to their money for a year, or more.
The FDIC announced this in it's closing statements.
If the Bank closes and your account balance is above 250k, your funds could be frozen for a year.
But if instead of the bank, your money above 250k was inside a cryptocurrency wallet, where you controlled the keys, you could just withdraw it and avoid all the drama of not knowing when you were going to be given access to your money!
Unfortunately with the FTX disaster and Three Arrows, Voyager and the others involve cryptocurrency depositors, where the cryptocurrency wallet keys were not held by the depositors, the depositors were like uninsured bank depositors and after a year many still don't have access to their money.
This bank crisis has sent shock waves across the world economy as the failure of three banks in one weekend raised the possibility of bank depositors losing all their funds above 250,000 dollars.
This crisis has led to a renewed interest in cryptocurrency because if these depositors were in cryptocurrency wallets and the the owners controlled the keys, this wouldn't happen.
Hive account@khaleelkazi's article clearly alluded to how Bitcoin and Hive fix this problem of not being in control of your money.
And all I could think is I see you.

I see you...

That's a line from the film in history: Avatar.
In the movie this phrase conveys a sense of both trust and understanding, and I am convinced I trust and understand what Khal was saying about our economy, banks and cryptocurrency.
It is this knowlege, that calms my fears, in the midst of the current economic chaos and it brings me peace.
Lately I feel like the majority of News Headlines only mention cryptocurrency when they are talking about worthless scams, rugpulls, hacks and the point is clear, they are telling everyday people your money isn't safe invested in cryptocurrency.
Well this week people woke up to bank failures and frozen bank accounts, and suddenly it looks like your money isn't safe deposited in banks!

The Irony of this realization isn't lost to me. :)

All I can say is that now many people are thinking that cryptocurrency is sometimes just as safe as a bank account
...because if you have an uninsured account, as in account balance over 250,000 USD..
... you are not considered a Customer, you are considered a Creditor
Now you are someone who loaned the bank money hoping to profit from your investment, and now you could lose access to most of your money for weeks or months, even years as the FDIC seized your bank and sells assets to satify creditors based on rank.
And your rank is low..low..low.
The irony is twofold: first, most didn't know they were a Creditor and not a Customer, and two, most thought banks were safe.
Yet people whose cash was in stable coins , on wallets they control are still in control and haven't lost anything.
Damn... the world is constantly in a state of new emerging problems and challeneges which threaten the peace and stability of our existence here.
I sometimes wish that the only thing we had to worry about is climate change. A singular problem. that would be unique and perhaps manageable.
But in the reality the world is more like the movie Everytheing, Everywhere, All at once, a very confusing collection of related and unrelated problems and issues of varying and changing seriousness, which makes it hard to focus and figure out solutions.