Bank failures are ‘tip of iceberg’ under Biden’s policies, economist warns

By Bob Unruh

Joe Biden delivers remarks, Tuesday, Feb. 21, 2023, at the Royal Castle Warsaw in Warsaw, Poland. (Official White House photo by Carlos Fyfe)
Joe Biden delivers remarks, Tuesday, Feb. 21, 2023, at the Royal Castle Warsaw in Warsaw, Poland. (Official White House photo by Carlos Fyfe)

The recent failures of big banks in America are not because the system is failing.

It’s not because there’s an overall banking crisis.

It’s not because there aren’t enough bank regulators.

It’s because of Joe Biden’s inflation and his spending of trillions of dollars.

That’s according to an analysis by Steve Moore, the chief economist at FreedomWorks, who talked about his conclusions in an interview with Fox News.

Two banking corporations failed on Friday and over the weekend, and analysts have linked their problems to their investment in low-interest bonds, and the subsequent push to make interest rates higher in an effort to tamp down the inflation that has developed under Biden’s economic policies.

“I agree with the president that we don’t have an overall banking crisis,” Moore explained. “The system is sound, but I do think you have a lot of major banks that are in some trouble.

“And SVB, the Silicon Valley Bank, may just be the tip of the iceberg here,” he said.

He explained it is “important for people to understand how this potential banking crisis happened. It’s not because there aren’t enough bank regulators, as Biden is trying to say. It’s because of the massive inflation and the trillions and trillions of dollars of borrowing that the federal government has done that has put our financial system in great jeopardy and great peril.”

Moore explained American “can’t just keep doing this” over and over, “borrowing trillions and trillions of dollars.”

What has happened, he noted, “because of the Biden spending and debt policies, is that not only did inflation go up, but interest rates have gone up.”

The Federal Reserve, in fact, has raised interest rates nearly a dozen times in recent months.

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Biden has claimed that Americans can be “confident” in their banking system because of his response to the failures of Silicon Valley Bank and Signature Bank in recent days.

Federal officials said bank customers’ accounts will be protected, although those who invested in the bank will not be.

And he claimed that taxpayers won’t be on the hook to pay for the losses.

“Instead, the money will come from the fees that banks pay into the deposit insurance fund. Because of the actions that our regulators have already taken, every American should feel confident that their deposits will be there if and when they need them,” he said.

EDITOR’S NOTE: Long the world’s most Christian nation, America today is being taken over by a new “official” national religion, one being imposed on the entire populace by every major societal institution, from government, media and big tech, to academia, entertainment and business.

This new state religion is Wokeism. “Going woke” conjures up visions of someone claiming to be acutely sensitive (“awake”) to “systemic social and political injustice.” And not just alleged bigotry against blacks, but toward every other “minority” as well, from LGBT folk – especially everything transgender and “nonbinary” – to “undocumented immigrants.” All of them, being VICTIMS, intrinsically more virtuous than the shameful oppressor class: primarily heterosexual white males.

This new “woke” consciousness has turned America upside-down – from the nationwide Antifa and Black Lives Matter riots in 2020, to tearing down of historic monuments, to demanding multi-million-dollar reparation payments for blacks, to appointing transgenders as top government officials, to rampant reverse discrimination in every area of life, to the U.S. military imposing mandatory “diversity training” and transgender pronoun use on all personnel, causing recruitment to disastrously plummet.

Yet there is hope. Being “saved” – which in Wokeism is called being “woke” – is largely a matter of worshipping victimhood by becoming an “ally” and “defender” of all the many victim classes, and a determined enemy of the straight white male oppressor class. Thus, “joining the righteous” as an ally – even if one is cursed to be a straight white male – opens the door mercifully for salvation, even to the most wretched.

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Whistleblower, titled “WOKEISM: AMERICA’S OFFICIAL STATE RELIGION.”
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