The D.C. establishment has completely screwed up the country and their real problem is that more and more people are noticing.
But authoritarians never let a crisis go to waste.
And now the Intelligence Committee Chair just revealed the bone-chilling casualty Democrats have planned for this economic crisis.
The collapse of Silicon Valley Bank (SVB) has sent a shockwave through the economy.
Both parties have played a game of musical chairs by keeping interest rates historically low while spending like drunken sailors.
Now the music has stopped and Joe Biden has been left without a seat.
Because Biden spent so irresponsibly with excess trillions of dollars pumped into the economy, the Fed had to increase interest rates in order to calm down 40-year-high inflation.
The uptick in interest rates was the main driver of SVB’s demise, the second largest bank failure in U.S. history behind Washington Mutual in 2008.
Other regional banks are in similarly precarious situations, which has sparked concern over a run on the banks where hordes of people withdraw their money at once.
Powerful Democrat Senator joins Kelly floating a plan to use bank collapses to shut Americans up
As Unmuzzled News previously reported, Senator Mark Kelly (D-AZ) reportedly suggested in a conference call last weekend about SVB that Americans should be censored under the guise of stopping bank runs.
According to Republican Rep. Congressman Thomas Massie (R-KY) and others, the Senator asked “if there was a program underway on social media to censor information that would lead to a bank run.”
Now another – much more powerful Democrat Senator is suggesting that the little guys shouldn’t be able to warn each other online about potential ban runs.
Senate Intelligence Committee Chairman Senator Mark Warner (D-VA) joined the chorus that wants to censor online speech in order to prevent bank runs.
Warner’s remarks came during a Senate Finance Committee hearing as he questioned Treasury Secretary Janet Yellen.
Warner stated, “I’ve been supportive of the venture capital community. I was a venture capitalist before, but I think there were some bad actors in the VC community who literally started to spur this run by virtually crying ‘fire’ in a crowded theater in terms of rushing all these deposits out, and I’m not sure that we have anything in our existing regulatory structure, and it’s early on, and we need to figure out what happened and who missed this, but this notion that you, 25 cents on every dollar, can rush out in a single day and people who spur this online — Tuesday and Wednesday night — bear no responsibility, and the hypocrisy of some who are, who are libertarian until the stuff hits the fan and then want relief is frankly more than a little repugnant. This is not normally within the traditional banking regulatory [framework], but I think this will go down as history’s first Internet-driven run.”
Warner is invoking the tired trope of not being able to yell “fire” in a crowded theater in order to silence voices on social media.
He doubled down, adding, “The idea that there is no responsibility for the equivalent of shouting ‘fire’ in a crowded theater and forcing that run using technology as a mechanism to accelerate that presents a problem that, I think — I hope — we can all kind of put our heads jointly together on.”
However, the adage is not even true.
There is no case law supporting the claim.
The legal myth has been perpetrated because it was an analogy used by Justice Oliver Wendell Holmes in a matter completely unrelated to shouting in a theater.
Warner and other elites will use anything they can to censor speech they don’t like.
Stay tuned to Unmuzzled News for any updates to this ongoing story.