Authored by Mark Jeftovic via BombThrower.com,
The Elites are bailing out their own banks, not yours
The systemic banking and financial crisis I’ve been warning about for years has arrived. (In fact, the report I put out in January seems to be playing out in spades).
The printing of 37 trillion dollars out of thin air over the pandemic widened the wealth inequality gap – and they followed that up with the most drastic and rapid interest rate hiking cycle in Fed history.
What did they think was going to happen?
Now the banks are failing – Silicon Valley Bank went from passing its KPMG audit with flying colours and getting their debt rated “A” by Moody’s mere weeks ago, to the executives frantically paying themselves bonuses and selling their shares in the hours and days before the bank failed and was taken over by the FDIC.
98% of the deposits in SVB were uninsured, meaning that those deposits wouldn’t shouldn’t have been covered by FDIC insurance.
Keep reading this article on Zero Hedge - Blog.