# Losing Faith

By [jer979](https://paragraph.com/@jer979-2) · 2023-03-15

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I’m losing faith in the economic and financial leadership of the USA.

It makes me sad because, overall, I think the US is a force for positive in the world.

But, with the changing of the rules and the “exceptions” for the FDIC around SVB, the recession created by the Fed in response to the inflation which they created, and the government’s all-out war on crypto, which is going to allow some other country to become the financial superpower of the next generation, I’m losing faith.

It’s as predictable as it is sad.

Meanwhile, and this one isn’t easy to say, I’m losing faith in Ethereum.

Euler Finance was [hacked for $195 million the other day](https://cointelegraph.com/news/euler-finance-hacked-for-over-195m-in-a-flash-loan-attack) and I checked in on a small investment I made in Alpha Homora a while back, [only to learn that one person had unilaterally changed the code](https://twitter.com/tascha_panpan/status/1631308485853089792), making withdrawals impossible.

I thought that wasn’t supposed to happen?

These are structural flaws in Ethereum that, as much as I respect Vitalik (and I do), I am skeptical can be fixed in the near/mid-term.

And if they can’t be, there’s no way this is the platform for all of global finance.

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*Originally published on [jer979](https://paragraph.com/@jer979-2/losing-faith)*