The failure of Silicon Valley Bank (16th largest bank in US) last Friday resulted from depositors withdrawing their funds in response to a drop in value of the bank’s bond portfolios caused by the Federal Reserve’s ill-considered hikes in interest rates. The mindless policy implemented by the Federal Reserve cures inflation by producing bank runs, failed banks, and unemployment. …
Read More »Bank Failure: The mindless policy implemented by the Federal Reserve cures inflation by producing bank runs, failed banks, and unemployment
