Staff Reports
On Friday, Fox News host Tucker Carlson warned viewers that 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. Carlson’s warning comes in the wake of President Joe Biden’s claims of the strongest and most equitable economic recovery in history.
The host went on to explain that some of the biggest banks in the country, such as Wells Fargo, Bank of America, J.P. Morgan, and Morgan Stanley, collectively lost more than $50 billion in market value in one day. He then noted that Silicon Valley Bank was not so lucky, as it has gone under completely, making it the second biggest bank failure in the history of the United States.
Biden Effect: 'We're On The Brink Of A 2008 Style Financial Crisis' – Economist On Tucker Carlson pic.twitter.com/F1sEbwPc1F
— Red Voice Media (@redvoicenews) March 11, 2023
"BUY GOLD AND STOCKPILE FOOD"; Tucker Carlson Sends Massive Warning After 2nd Largest Bank Collapse In American History https://t.co/XFQ7URkyHF
— Kyle Becker (@kylenabecker) March 12, 2023
Carlson then questioned whether the people running SVB saw it coming, noting that the CEO had sold more than $2 million in bank stock in the last two weeks. He also noted that several other high-level employees of SVB had also sold significant amounts of stock in SVB this year. This raises the question of whether these employees knew their bank was in trouble, and why regulators and the business press didn’t notice anything.
The Fox News host then interviewed economic expert Stephanie Pomboy, who warned of a 2008-style crisis. She noted that the Federal Reserve had raised rates at a record pace on an economy with record leverage and maximum speculation, and that this was sure to have consequences. She also warned that due to all the leverage built up, these consequences were going to come quickly.
It is clear that the Biden Administration’s claims of a strong and equitable economic recovery are not only false, but dangerous. The collapse of Silicon Valley Bank is just one example of how quickly things can go wrong when the government meddles with the economy. It is important for all Americans to be aware of this and take steps to protect their finances, such as buying gold and stockpiling food, as Tucker Carlson suggested.
