Posted on 03/29/2023 6:27:21 AM PDT by JV3MRC
A major global outlet funded by leftist billionaire George Soros published scathing criticism by two economists blasting the Federal Reserve’s role in creating the pretext for the bank failures that rocked U.S. markets.
Project Syndicate, which dubs itself as the “World’s Opinion Page,” published an op-ed by economists Raghuram Rajan and Viral Acharya headlined: “The Fed’s Role in the Bank Failures.” The authors iterated Silicon Valley Bank’s (SVB) historic collapse isn't merely linked to the fact that 90 percent of its deposits were “uninsured.” The problem, said Rajan and Acharya, “may be more systemic,” and it involves the Fed’s recklessness. Even a broken clock is right twice a day. Apparently Project Syndicate — which has a notorious habit of peddling radical anti-capitalist and eco-extremist views on a global scale — decided to let the truth slip out for once. Soros funded Project Syndicate with at least $1,682,390 between 2018 and 2021 alone.
The economists’ concluded their argument by demanding that the Fed take more responsibility for what its own policies created:
"The bottom line is clear: As it re-examines bank behavior and supervision, the Fed cannot afford to ignore the role that its own monetary policies (especially QE) played in creating today’s difficult conditions."
(Excerpt) Read more at newsbusters.org ...
I think I’d change my name if it was Viral.
Shows even a Soros stooge can be right, same as a stopped clock but not as often.
I can’t begin to imagine the demons that would come out of Soros during an exorcism.
Soros: A terminal cancerous tumor that will eventually destroy freedom around the world.
And Gyorgy boy will eventually burn in the lake of fire.
I am still waiting to see a comprehensive analysis of the Silicon Valley Bank loan portfolio.
It does not matter if 90% of your deposits are not insured if there is nothing wrong with your loan portfolio.
To my eye, SVB still looks like an old fashioned bank panic.
If 50% of your depositors withdraw their money in one week, every bank in the world will collapse.
UBS bought all the deposits and loans at SVB for $72 billion.
Unfortunately, no details beyond that, so it is still impossible to calculate what went wrong at SVB.
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