An audit of American government COVID relief funds has already found $276 billion dollars of fraud. That is not surprising since the whole purpose of government manufactured emergencies is fraud. The only thing that made COVID different from previous fake emergencies was size. COVID lockdowns resulted in unprecedented increases in government spending which in turn spawned unprecedented levels of fraud. It really is an issue of scale; spend billions to steal millions or spend trillions to steal billions.
Joe Biden spent Trillions because no one stopped him. That allowed him to steal billions and give it to wealthy friends. Those wealthy friends tried to maximize their ill-gotten gains by investing it. That is where the trouble started. It turns out that investing when the economy is shut down means giving your money to companies that can’t spend it. They put it in the bank who also can’t find any good use for it so they invest in government bonds. The whole stupid enterprise then collapses when the Fed raises interest rates.
That in a nutshell is how the Silicon Valley Bank died of COVID.
During the pandemic, fluffy money, made from nothing by Big Government to “save the economy” was put into stupid businesses to “save the planet”. The businesses put their cash into Silicon Valley Bank, which got so much cash, it couldn’t do anything with half of it — except give it back to Big-Government in the form of a loan called a Treasury Bond — thus completing one full Cycle of Stupid. Money printed from nothing, achieved nothing, and went back home. On the way a whole lot of people got paid to pretend to change the weather. But money printing causes inflation, and in inflationary times interest rates have to rise. So it follows that when easy money flows into your wallet, easy solutions, like fixed loans with low interest are the stupidest possible solution.
Shutting down the economy to fight a virus was an extremely stupid decision that we are not done paying for. We are about to enter the darkest point of the Dumb ages led by corrupt simpletons like Biden and Trudeau. God help us.