On the heels of the Silicon Valley Bank failure, a second bank has collapsed. The New York Department of Financial Services took possession of Signature Bank of New York earlier on Sunday.
The notice said it was done to protect the US economy. The FDIC said that all depositors would be made whole.
According to the Feds, depositors of Silicon Valley Bank (SVB) will also be made whole, and taxpayers will not bear the burden. What a joke. The only money the government has is taxpayer money and the money they print with nothing backing it.
In addition to SVB and Signature Bank, there are other banks that are on the precipice. As one example, First Republic lost 50% of its value on the market Friday.
Where does this money come from, and how long can the US keep this up? Meanwhile, the imperial president has a seven trillion dollar budget filled with climate change waste, welfare, and taxes.
BREAKING: Signature Bank of New York has just collapsed.https://t.co/WbqTs6b1DA
March 12, 2023
Superintendent Adrienne A. Harris Announces New York Department of Financial Services Takes Possession of Signature Bank
Superintendent https://t.co/uWMcCrSXAe… https://t.co/8LZwwc1LHJ
— DailyNoah.com (@DailyNoahNews) March 12, 2023
The Damage the Biden administration is doing to the economy is bigger and worse than the Main Stream Media is letting us know.
No surprise that the MSM is lying for democrats, they have been accomplices in many other crimes.
Democrats are so obsessed with insane stuff such as transgerism,
teaching CRT to kids,
letting in Millions and Millions of illegals
and destroying the petrol industry to supposedly save the planet ( from a non existent global warming that even if it was real, electric cars would not slow it down one bit)
and placing in big important positions underqualified trans, gays and colored females ( think of the mind boggling incompetence of Karine Jean Pierre, or Kamala Harris or Pete Buttigieg or that guy in charge of some nuclear stuff that was caught stealing women luggages at different airports so he could wear their women clothes…and dozens more )
Democrats are obsessed with things that don t make sense and while busy doing that they can t see that the ship is heading for an iceberg, will hit it and sink.
Democrats are the crazies running the asylum, and this is putting it mildly.
Bidens policies will lead to the collapse of the US$ and the banking system as we know it today, so the government can implement the digital currency which they will 100% control and will determine how, when, and where people can spend this new currency. If your good and follow their rules you will be okay, if you descent in any way you will be punished.
2 years ago this bank closed Trump’s accounts with them over the J6 protest at the capitol!!!!
ALL THE GOVERNMENT NEEDS IS MORE PRINTNG PRESSES.
joe will take everything down with the biggest spending spree in history…