Ray Dalio recently issued a stark warning about the Silicon Valley Bank meltdown, comparing it to a “canary in the coal mine.”
In other words, the initial failures of Silicon Valley Bank and Signature Bank were merely the first dominoes to fall, and the worst has most likely not yet occurred.
We recently saw Meta lay off an additional 11,000 employees, though the company claims that the layoffs were caused by a shift in the social media giant’s core focus—the tech sector is suffering.
Another major financial firm, Silicon Valley Bank Financial Group, filed for Chapter 11 bankruptcy protection on Friday.
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SVB Financial Group is the latest to fail as a result of credit contraction and a lack of easy money.
Could this be the next Credit Suisse?
According to The Epoch Times:
The aim of filing for bankruptcy protection is to “preserve value” as it seeks buyers for its assets, SVB Financial Group said.
“The Chapter 11 process will allow SVB Financial Group to preserve value as it evaluates strategic alternatives for its prized businesses and assets, especially SVB Capital and SVB Securities,” William Kosturos, Chief Restructuring Officer for SVB Financial Group, said in a statement.
SVB Financial Group said it has about $2.2 billion of liquidity and other assets for which it’s “exploring strategic alternatives,” understood to mean some type of acquisition.
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ProCoin News reports:
So far, it is clear that there is some funding strains among the banks and this is proven by the fact that the Federal Reserve has recently lend around $165 billion to many banks in just the span of a week.
Whether or not this will impact the Fed’s mission to combat inflation is still unknown as it is unclear if this liquidity is being created by increasing the money supply or through other means.
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Now, to just piggyback off this story and more of the woke agenda that is being crammed down our throats, is anyone else sick of it?
Literally, everywhere we turn there is more of this woke nonsense floating around.
We see it in every television program, movie, car commercial, and even the products that we buy.
Target is being the trans movement on the kids.
Dr. Bronner is all about the BLM movement, and gun control, and the owner of the company identifies as a cat.
No, I am not making that up.
Seventh Generation believes that men can have periods too and defunding the police, and that is just the tip of the iceberg.
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