You’ve probably heard by now that the Silicon Valley Bank (SVB), headquartered in the Democrat Party’s largest cash cow other than Hollywood, collapsed on Friday. Federal regulators stepped in and seized the bank on Friday morning.
The entire federal government then sprang into action and scrambled around the clock over the three-day weekend to save Oprah Winfrey’s money. Don’t you wish the Biden regime could expend that kind of energy to try to help the people of East Palestine, Ohio?
SVB is a small bank used by Silicon Valley elites, movie stars, tech oligarchs and other ultra-wealthy Democrat Party donors. And rather than doing the right thing and simply letting the bank fail like any other business would in that situation, Team Biden has decided to do the absolute worst thing possible.
Treasury Secretary Janet Yellen announced over the weekend that the federal government would be fully bailing out all the donors. Rather than insuring each depositor up to $250,000, as stipulated under FDIC rules since the 2008 meltdown, the government is going to shore up the entirety of Oprah Winfrey’s $500 million that she allegedly had in the bank.
Tech companies like NerdWallet, Stripe and Patreon also had the entirety of their funds tied up in SVB, and were reportedly unable to pay employees the other day.
It’s tough for many people to grasp, because our debt-based credit currency is complicated to even explain, but letting SVB fail and ensuring depositors up to $250,000 would have been the best possible scenario. The natural collapse and failure of SVB would have had a deflationary effect on the economy. No real cash or gold vanished in the SVB failure. A bunch of 1’s and 0’s vanished off of a balance sheet in cyberspace.
Billions of dollars vanished overnight, and a lot of people would have been hurt. But in the long run, letting SVB fail would have been much better than the Biden White House solution. Taking credit out of the system in a deflationary snapback would have eased the crippling inflation that Biden is causing.
Instead, this is going to accelerate inflation again, because the government is going to invent more 1’s and 0’s to infuse into the system, thereby devaluing everyone’s wealth. And this is all to save a bunch of Democrat Party donors.
The contrast with how the government has treated East Palestine, Ohio residents is like night and day. They literally worked around the clock all weekend long to save Oprah’s money. But the only thing the federal government has done for East Palestine is send Transportation Secretary Pete Buttigieg to the town for a few short hours. He bailed before lunchtime and fled back to DC, rather than risk breathing the air for a few more hours and figuring out how to actually help the people there.
The water and air in East Palestine have been poisoned, possibly for generations to come, by a train derailment and chemical spill that was set on fire. But those are Trump supporters, so the Biden regime doesn’t care about them.
Seriously, if you took anyone from the Biden regime into a room with a little red button in it, and told them that a random Trump supporter would get terminal stomach cancer every time they pressed the button, they’d give themselves carpal tunnel syndrome pressing the button. They just don’t care if ordinary citizens or “the little guy” die. But they’ll work their butts off to save their own donors.
Look at it this way. They could have permanently moved the entire population of East Palestine somewhere else for far less money than they’re going to spend bailing out their Oprah class of donors.
And we’re already seeing the catastrophic effects of the Biden regime’s dumb economic response. On Monday morning, trading was halted at dozens of regional banks. Shares plummeted 75% in some of these banks, as depositors and investors have lost confidence and are worried that their cash will vanish – but Biden won’t bail them out. Western Alliance’s stock plummeted 75%, First Republic bank dropped 67%, and PacWest plunged 35%.
Naturally, Joe Biden says the US banking industry is “safe.” By the way, how does Joe Biden just step in and spend all this money saving SVB’s depositors without an Act of Congress? Doesn’t Congress have to authorize new spending before that can happen? Shut up, conspiracy theorists! Maybe Congress will get around to doing something about the banking situation right after they appropriate some funds to help East Palestine.
This is one more example proving the poor quality of the current maladministration.
This well written article sheds light on what most readers here are well aware of, but hopefully good information like this will be forwarded to MILLIONS of others, and the lunatic Left who still think Joe can do no wrong, and they will be exposed to the TRUTH that they so stubbornly resist.
Excuse me but it was Trump who got rid of the bank operating requirements made under Obama and Biden that could have prevented this. The only thing poor and ignorant going on is the malignant right wing rush to blame President Biden.
You are a gold studded idiot! When something goes wrong blame Trump!!!!!
Would or could you tell me just was it what Mr. Trump did that caused this? I don’t think what your opinion is—just accurate information. You have not been paying attention to what this Biden party has done to America. Put your hatred down and open your eyes and mind. Biden is the most dangerous person ever. But protecting him makes things worse. It’s time he starts taking the direction he is taking. That’s its own, or are they? Semper-fi.
Thank you Michael.
Well said.
Agreed Michael Thanks.
The Biden supporters are fools and are playing their Nero fiddle while our world is burning, going broke and starving. They can’t say why Biden is so good.
Bush, Biden ALL F Ups
Blame EVERYTHING on Trump. He is 100X more man than all you weenies will EVER be! Put that in your pipe and smoke it…
Together, Biden and Congress passed an enormous spending bill of $7 TRILLION dollars and, JRL, you believe it isn’t due to Biden? Ok, let’s pretend that $7 TRILLION isn’t the problem and that SVB isn’t either. The problem is a bunch of WORDS that were changed to improve banking regulation…the word is regulation not suppression…the word all of Liberalism expects will solve all problems. Neither Obama nor Biden ever created anything that worked. Remember Obama Care? A 2000 page regurgitation of words and suppression of Medicine? All it takes are some human idiots running things and that’s Biden and Directors of SVB that did the works.
Yeah right asshole…..Trump caused the East Palestine train derailment too
you are obviously an idiot
Barney Frank stated it was NOT the changes Trump put in place
PS
Take a look at the picture leading into this article.
That’s definitely not the original, or current Joe.
Be aware that these days Joe has the ability to have blue eyes one day, and brown the next.
Hmmmmm.
Yep, we’ve seen that too. blue, one day dark brown the next.
i hope that the double gets paid good.
watch the movie “Dave”…lol.
Well I dislike Biden as much as anybody so I would never defend him. However is it possible he’s wearing colored contact lenses? Some people do switch out colored lenses for fun. Oh I forgot….his fun involves sniffing hair. Haha
Agreed Cheyenne.
Where is puppet pedo Joey?
Hiding in Delaware basement?
The left woke socialist steal elections and money from us.
this is where the commie democrat marxist fascist racist woke pedophile cult party members launder their china money
Tell it like it is Gracey.
I wonder if the conservative population contains sufficient numbers to react to our CIC (Coprolite in Chief) when he triggers the second shot to be heard ’round the world. Think about it. The lying lowlifes now in charge of our nation have brazenly rewarded their benefactors with money earned by their political enemies.
Perhaps those who worked to earn their money ought not to wait for that shot. Perhaps they should avail themselves to the ability to remove the scum that again covered the swamp. Recall the democrat House and Senate openly lied about and punished conservatives with jail time for felonies not committed.
Using presidential power to seize money from political adversaries and simply hand it over to political friends is more than simple declaration of war. It is preceded with the worst kind of insult. It begins with a threat and follows with action. It implies that adversaries are too weak and helpless to fight back.
Hey it is what it is. The Republican leadership is just a bunch of puppets at the hands of the Socialists. Especially Pence and McConnell, who stabbed Trump in the back more than advised him on political procedures so as not to alienate himself from congress.
I hope RINOcerous Pence NEVER makes it to heaven after what he did having certified for the Socialist Party and attended Byedone’s inauguration!!
Let’s just make sure he never makes it to the White House. Somewhere along the line he received a challenge coin from Democrat. Another time I saw a fist bump between Pence and Pelosi. I believe he was promised something and sold out.
And Mitch needs to go with Joe to the nearest retirement home!!
Both the WH and heaven.
Bi-den we will probably be dead or dying! Since the entire world now seeks to destroy any freedom we may have left!
Speaking of East Palestine ~~ I’M GLAD THEY AND THE STATE OF OHIO ARE SUING THE HELL OUT OF INCOMPETENT NORFOLK SOUTHERN!!!!
Railroad Unions own the American Communist Demorat Party