US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs
The US Federal Reserve printed $300 billion in on…
Geopolitical Economy Report · Ben Norton
March 18, 202339m 54s
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Show Notes
The US Federal Reserve printed $300 billion in one week to save collapsing banks and bail out wealthy Silicon Valley oligarchs. 93% of Silicon Valley Bank's deposits were uninsured, over the FDIC limit of $250,000, but the government still paid them. 56% of SVB's loans went to venture capitalist and private equity firms.
Sources and more information here: https://geopoliticaleconomy.com/2023/03/19/fed-bailout-silicon-valley-banks
VIDEO: https://youtube.com/watch?v=jyrj7gZwg3U
US Federal Reserve says its goal is ‘to get wages down’: https://geopoliticaleconomy.com/2022/05/24/us-federal-reserve-wages-inflation