Signature Bank famously closed President Trump's bank accounts to signal its virtue. Go woke, go broke.https://t.co/PzGfq2J2sg
— David Shafer (@DavidShafer) March 13, 2023
WNU Editor: More details on former President Trump losing his account at Signature Bank is here .... Deutsche Bank and Signature Bank cut future ties with Trump, citing Capitol riots (NBC).
Speaking of former President Trump.
The main stream media narrative is to blame former President Trump for this banking crisis .... Why Trump is being called out in the Silicon Valley Bank collapse (Business Insider). Cannot say that I am surprised. The Biden administration and their media allies cannot say that the real reason why these banks are failing is due to inflation forcing the Fed to raise interest rates. High interest rates that have now collapsed the assets that these affected bank had in long term US Treasury bond portfolios (see below).
Silicon Valley Bank did not fail because of loan defaults. It failed because rapidly rising interest rates collapsed the value of its long term bond portfolio. #Bidenflation is the cause of these bank failures.
— David Shafer (@DavidShafer) March 13, 2023
4 comments:
Save the dollar or save the economy. You cannot do both. They are set at odds with each other. Raise the interest rate to save the dollar and you crash the banks. Leave the rates at 0% and the jackals can’t help but abuse it and inflate the dollar.
What will we choose?
Let's look back at all the bank failures during the Trump term. Oh yeah, that would be zero. Because inflation was 1.4%, interest rates were 3-4%. The economy was stable and growing.
Enter Biden. Crushing the energy sector, insane COVID policies and massive welfare spending brought inflation to 9% and rates now at 7%. Biden created the problem he's now blaming on the evil orange man. Biden killed the value of gov't bonds that were the prime investment of these banks. In an ignorant effort to slow inflation - which he created.
Now a balance cannot be struck. Lower interest rates and hike inflation. pour more printed billions into the economy and hike inflation. So Biden the economic genius will bail out these banks and nullify any adherence to regulations at all. Add in a war or two and we have a nightmare scenario which was completely avoidable.
BIDEN,
FAIL,
R,
Ha! Woke ass bank going bankrupt, serves them right. How the hell does Trump have such bad taste in seemingly everything? He really is a good person
With good intentions, but is such a victim of his own naivety
Why does the average voter buy the waffle and spin of the biden admin
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