this post was submitted on 26 May 2025
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Have we forgotten about the Silicon Valley Bank crash already
That was in part caused by peter thiel who called for a run on those banks.
Peter thiel is also the guy that wants these banks. That wants "freedom cities". That want to make sure you have zero freedom and privacy. That bank rolled JD Vance, and trump. And has explicitly stated his desires to destroy western society and financial order.
So....
Yeah, I remember.
SVB loaded up on us treasuries right before covid, then fed raised the rate and they were sitting on ton of collateral that was now materially under water.
Daddy sam bailed them out and made all depositors whole, ie they paid in excess of what FDIC insures.
Depositors were obviously better people such as VC types and start ups....
Must be nice being in the club.
SVB was intentionally crashed by tech bros like Peter Thiel, likely as a strategic move to lobby for change in the banking sector / to gain more access for tech companies. The bank operated in a risky space, with too high a concentration of tech bro customers. This left them exposed to Thiel and crowd going "Hey, look at the balance sheet, if we all withdrew our money at once we can pop this bank and trigger a discussion about banking regulations / reform!".
So, no one forgot, it's all part of the same larger plan really.