I think it’s safe to say that Joe Biden isn’t a whiz when it comes to this thing called the economy. The aging, senile man tanked our nation’s prosperity when he sent out over a trillion dollars in new money. That triggered inflation, which he made worse by shutting down our energy industry.
Biden is determined to destroy our economy through reckless spending. He has thrown trillions at leftist causes disguised as “COVID relief.” He doesn’t seem to have any clue how to manage an economy properly. Which is why we were so surprised that the Feds rush in to save Silicon Valley Bank, a company that only the wealthy used.
But now, it’s all making sense.
From The Post Millennial:
Silicon Valley Bank collapsed on Friday and following its seizure by regulators with the Federal Deposit Insurance Corporation (FDIC) it has been revealed that the bank was vital to the “climate-tech sector”…
The outlet reports that SVB “bragged” on its website about its support of hydrogen, solar, and energy-storage companies, noting that the bank provided finance to the community solar industry upwards of 60 percent.
Oh, it’s all coming together, isn’t it? SVB didn’t just manage the accounts of big tech companies. It also managed the billions of dollars Joe Biden threw at “green” companies. Numerous companies that push climate activism–and rely on government funds to stay afloat–were using Silicon Valley Bank.
Apparently, this bank was very proud of how it supported radical, far-left climate alarmism. Perhaps that’s why it tanked in the first place?
“Green” tech is largely a booming business. The entire industry is bankrolled by government grants and spending. Few “green” tech companies are profitable, since solar and wind energy can’t compete with fossil fuels.
Biden has spent billions of taxpayer dollars supporting these companies. So, when the bank that managed most of them went under, he had to save his investment. The Biden administration pulled funds from the FDIC to save this bank. Those are funds, by the way, provided by banks to protect the accounts of everyday Americans.
So, if by some nightmare, your bank collapses, your savings and checking accounts will remain intact. But Biden used those billions to protect the bank accounts of wealthy companies and climate activists.
Sounds pretty fishy to me. If our bank accounts suffer, will there be any money left to save us? Somehow, I doubt it.
- Failed Silicon Valley Bank managed the accounts of numerous climate activist companies.
- Joe Biden rushed to save the bank, spending billions from the FDIC.
- SVB previously boasted of its support of climate alarmism.
Source: The Post Millennial