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Fox News host Tucker Carlson said Friday that the collapse of Silicon Valley Bank was similar to a “bank run” from 1929 and the collapse of the cryptocurrency exchange FTX.
“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,” said Carlson, a co-founder of the Daily Caller News Foundation.
“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 added. “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.”
Federal regulators shut down Silicon Valley Bank Friday after its stock price collapsed and customers began a bank run following the financial institution’s disclosure of a $1.8 billion loss on asset sales due to high interest rates, CNBC reported.
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