Citizens are helpless as the kleptocratic presidency begins to wildly spend money we don’t have. Millions, billions, what comes after trillions?
"The blame game over SVB’s collapse is a diversion. The media have rounded up the usual suspects: Trump, greed, bad law, blah, blah, blah. When Captain Renault did that in Casablanca, he knew who the real culprits were. The media is not that bright.
"James Hickman is. He is the founder of Sovereign Research. He looked at the numbers and he found the culprit.
"Biden. He made government bonds worth less which has banks dropping like cockroaches in a Raid commercial.
"Using the pen name Simon Black, Hickman wrote, “Silicon Valley Bank was no Lehman Brothers. Whereas Lehman bet almost all of its balance sheet on risky mortgage bonds, SVB actually had a surprisingly conservative balance sheet.
" 'According to the bank’s annual financial statements from December 31 of last year, SVB had $173 billion in customer deposits, yet only $74 billion in loans.”
"So where did the money go?
"Hickman said, “SVB failed because they parked the majority of their depositors’ money ($119.9 billion) in U.S. government bonds.
" 'This is the really extraordinary part of this drama. U.S. government bonds are supposed to be the safest, most risk free asset in the world. But that’s totally untrue, because even government bonds can lose value. And that’s exactly what happened.”
"SVB lost money on government bonds by the billion and that brought the bank down. That is like water catching fire.". . .
Comer: Biden Family Made Millions from Chinese Company After 2016 (breitbart.com) Adam Schiff may seek impeachment.
The Biden family business received a $3 million wire transfer from a Chinese energy company and subsequent payments after President Joe Biden left the vice presidency in 2017, House Oversight Committee Chair James Comer (R-KY) announced upon receiving suspicious activity reports from the Treasury this week.
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