The Biden bailout that Biden claims isn’t happening is happening. Don’t doubt me on this. Taxpayer dollars are bailing out Silicon Valley, 1500 climate change companies, and celebrities. We put up some outstanding analyses on the issue by Dr. Joe Bentivegna on this link.
Biden will say anything, and he’s not honest. He proved it again today. He read off the teleprompter, “No losses will be borne by the taxpayers. Instead, the money will come from the fees that banks pay into the Deposit Insurance Fund.”
American taxpayers pay the fees. The government has NO MONEY. All their money is our money. They do not create anything.
BREAKING: Western Alliance Bancorp drops lower during President @JoeBiden speech in which he assured Americans the banking sector is safe. Silicon Valley Bank has already collapsed. The problems seem to be spreading. Reporters asked Biden whether there will be a ripple effect and… https://t.co/fUSCwdVUjM pic.twitter.com/82YbaYS5xk
— Simon Ateba (@simonateba) March 13, 2023
Biden lied to you and then complimented himself for his fast action. All he’s doing is making every American pay for their lost assets. Ironically, the CCP has a lot of assets in the bank, so they’ll be paid back too at taxpayer expense. Forget small businesses. It’s not about them; it’s mostly a bailout for Silicon Valley and celebrities.
We are, as we wrote earlier and quoting Dr. Joe Bentivegna, in the hands of “corporate overlords and Wall Street grifters.”
In the clip above, Biden claims this is how capitalism works. It’s not capitalism. It’s crony capitalism. aka socialist capitalism. Biden mentions Dodd-Frank. Dodd and Frank arranged for bail-ins instead of bailouts. He blamed Donald Trump, but Biden is responsible for allowing banks to behave recklessly. Joe Biden allowed it, not Donald Trump. Biden is now going to have Americans bail out the banks in the form of fees.
The government FDIC and the Federal Reserve will bail out the Silicon Valley Bank and, in some measure, the Signature Bank, another super-wealthy person’s bank.