US government bailout of Silicon Valley and banks is $300B gift to rich oligarchs
Geopolitical Economy Report
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Silicon Valley Bank - The US Government Is Bailing Out Rich Capitalists in Silicon Valley
More than 93% of the domestic posits at Silicon Valley Bank were above $250,000. The FDIC was created in order to ensure depositors that their money is insured. So why did these big corporations have all of their money, millions of dollars or potentially billions of dollars in their accounts at SVB? Because SVB was giving them higher rates of interest.
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