on Friday, Fox News host Tucker Carlson said it “could be time to buy gold and stockpile food” after U.S. banks spiraled in light of Silicon Valley Bank collapsing in a matter of days.
“We’re starting to get a better, more precise sense of what it means when Joe Biden brags about the strongest and most equitable economic recovery in history,” Carlson began. “What it means is it could be time to buy gold and stockpile food.”
“Some of the biggest banks in this country, Wells Fargo, Bank of America, J.P. Morgan, Morgan Stanley collectively lost more than $50 billion in market value in one day. That’s quite a hit. On the other hand, those banks still exist,” Carlson continued. “You can’t say that for Silicon Valley Bank. As of this morning, Silicon Valley Bank, or SVB, has gone under completely. That makes the second biggest bank failure in the history of this country.”
“What we have there is a 1929-style bank run and that’s not a good sign for anyone. The question is whether the people who run SVB saw it coming. The CEO, a man called Greg Becker, apparently sold more than $2 million in bank stock in the last two weeks. According to the site Unusual Whales, several other high-level employees of SVB including chief marketing officer Michelle Draper, COO Phil Cox, general counsel Michael Zucker, all sold significant amounts of stock in SVB this year,” he added.
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