https://donsurber.substack.com/p/biden-killed-svb-were-next?utm_source=post-email-title&publication_id=1115457&post_id=108293509&isFreemail=true&utm_medium=email
Biden killed SVB. We're next.
Substack, by Don Surber
Posted By: earlybird, 3/14/2023 4:07:00 PM
The blame game over SVB’s collapse is a diversion. The media have rounded up the usual suspects: Trump, greed, bad law, blah, blah, blah. When Captain Renault did that in Casablanca, he knew who the real culprits were. The media is not that bright. James Hickman is. He is the founder of Sovereign Research. He looked at the numbers and he found the culprit. Biden. He made government bonds worth less which has banks dropping like cockroaches in a Raid commercial. (snip)Hickman wrote, “Silicon Valley Bank was no Lehman Brothers. Whereas Lehman bet almost all of its balance sheet on risky mortgage bonds, SVB actually had a surprisingly conservative balance sheet.