What Happened to Silicon Valley Bank?

The Fed faked out all the banks. It sold them a huge, huge, huge amount of bonds. And then suddenly, after Powell got renominated, he devalued all of them. So what the banks do is they go to these bank CPAs. They hide it with this accounting trick and then preserve their stuff because no one cares about how they look to the regulators. I think you can get into the mechanics of this but we're going to find out that's not true.

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