Signature Bank famously closed President Trump's bank accounts to signal its virtue. Go woke, go broke.https://t.co/PzGfq2J2sg
— David Shafer (@DavidShafer) March 13, 2023
WNU Editor: More details on former President Trump losing his account at Signature Bank is here .... Deutsche Bank and Signature Bank cut future ties with Trump, citing Capitol riots (NBC).
Speaking of former President Trump.
The main stream media narrative is to blame former President Trump for this banking crisis .... Why Trump is being called out in the Silicon Valley Bank collapse (Business Insider). Cannot say that I am surprised. The Biden administration and their media allies cannot say that the real reason why these banks are failing is due to inflation forcing the Fed to raise interest rates. High interest rates that have now collapsed the assets that these affected bank had in long term US Treasury bond portfolios (see below).
Silicon Valley Bank did not fail because of loan defaults. It failed because rapidly rising interest rates collapsed the value of its long term bond portfolio. #Bidenflation is the cause of these bank failures.
— David Shafer (@DavidShafer) March 13, 2023