The D.C. establishment continues to spend money and seize power it does not have.
Congressman Thomas Massie is one of the few who call out the machine.
And Massie revealed the horrifying thing one Democrat considered after a massive bank failure.
Perhaps foretelling impending economic doom, Silicon Valley Bank (SVB) just went belly-up.
SVB’s implosion marks the second largest bank failure in American history after Washington Mutual in 2008.
SVB was done in by a combination of focusing on “woke” DEI initiatives, and holding an unhedged tranche of long-term U.S. treasuries as the Fed hiked interest rates to get inflation under control.
U.S. bonds tend to be safe investments, but when interest rates go up, the long-term bonds lose value because people want the bonds at a higher yield rate.
The Fed raising interest rates triggered a sell-off of bonds, and SVB did not have the assets to cover its investors and depositors.
In light of SVB’s failure, members of Congress jumped on a Zoom call with the Fed, the Treasury Department, and the FDIC.
Democrat didn’t want the little guys to be able warn each other
And according to Congressman Thomas Massie (R-KY) and others on the call, a Democrat Senator asked if there were mechanisms in place to censor information on Twitter to tamp down a potential run on the banks.
Massie said, “On our conference call, led by [Senate President Chuck] Schumer, with Fed, FDIC, and Treasury, a democrat senator asked the three agencies if there was a program underway on social media to censor information that would lead to a bank run…I believe he couched it in a concern that foreign actors would be doing this…but he didn’t suggest the censorship should be limited to foreigners or to things that were untrue. The people from the three agencies couldn’t answer him and just sort of took a pass on the question.”
This is deeply concerning.
“Foreign actors,” namely Russians, have become the boogeyman that justifies all sorts of rollbacks of freedom and privacy.
According to others on the call, the Democrat Senator was Mark Kelly of Arizona.
Congressman Dan Bishop (R-NC), Chairman of the Subcommittee on Oversight, Investigations, and Accountability, said, “I have confirmed with [House Speaker Kevin] McCarthy that it was Sen. Mark Kelly who asked on last night’s Zoom call whether the call hosts (at Treasury, FDIC, etc) were interacting with [social media] platforms and on the lookout for foreign influence that might promote bank runs.”
A spokesperson for Senator Kelly denied he was calling for censorship, explaining, “The unsupported claim made by this blog post you referenced is false. On the briefing, Senator Kelly asked about foreign adversaries potentially trying to take advantage of this situation by spreading misinformation.”
The past few years have shown Americans that members of the establishment will use any and every reason to silence voices that express unapproved narratives.
Stay tuned to Unmuzzled News for any updates to this ongoing story.