Was Silicon Valley Bank a Big Green Government Ponzi Scheme?

Posted by freedomforall 1 year, 2 months ago to Politics
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"SVB was a “Green” Banker. We know this, not because newspapers are saying that now, but because of the emergency flares released on behalf of the victims. The New York Times tells us that the collapse of SVB is going to hit green tech hard because SVB clients included 1,550 companies dedicated to “fighting climate change”.

If only SVB had served coal miners or gas frackers instead they might still be in business? The deposits they needed would have kept on coming as the profits flowed in.

David Gelles, New York Times, naturally, misses the whole point:
“Silicon Valley Bank was in many ways a climate bank,” said Kiran Bhatraju, chief executive of Arcadia, the largest community solar manager in the country. “When you have the majority of the market banking through one institution, there’s going to be a lot of collateral damage.”

Burning Money Ahead

It was a Ponzi scheme
During the pandemic, fluffy money, made from nothing by Big Government to “save the economy” was put into stupid businesses to “save the planet”. The businesses put their cash into Silicon Valley Bank, which got so much cash, it couldn’t do anything with half of it it — except give it back to Big-Government in the form of a loan called a Treasury Bond — thus completing one full Cycle of Stupid. Money printed from nothing, achieved nothing, and went back home. On the way a whole lot of people got paid to pretend to change the weather. But money printing causes inflation, and in inflationary times interest rates have to rise. So it follows that when easy money flows into your wallet, easy solutions, like fixed loans with low interest are the stupidest possible solution."
SOURCE URL: https://joannenova.com.au/2023/03/silicon-valley-bank-was-a-big-green-government-ponzi-scheme/

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  • Posted by mccannon01 1 year, 2 months ago
    This appears to be straight out of Atlas Shrugged. SVB looks like 20th Century Motors in bank form. And the Thompson administration is right there to bail out the whiners.
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