A massive line formed outside the Silicon Valley Bank earlier today.

A massive line formed outside of a Silicon Valley Bank branch in San Francisco this morning.

The FDIC insures up to $250,000 per depositor, per FDIC-insured bank, per ownership category.  If customers were holding more than that amount then they are at risk of losing anything over $250,000.  According to earlier reports, 90% of SVB customers had more than $250,000 in the bank.

Customers also lined up in New York City.

The NYPD responded to a Silicon Valley Bank branch in Manhattan Friday morning after investors showed up to try to pull money out of their accounts.

Silicon Valley Bank on Friday was shut down by regulators in the biggest bank failure since the 2008 liquidity crisis with $173 billion in holdings.

The Fed interest rate is at 4.57% and $117 billion of Silicon Valley Bank securities are yielding only 1.56-1.66% – this is causing a run on the bank.

California regulators shut down the bank and the FDIC took over.

Silicon Valley Bank holds $173B of deposits.

Fed interest rate is at 4.57%
SVB’s $117B of securities (MBS) yield 1.56-1.66%
This is causing a bank run

If enough VC / tech cos pull their money,
—SVB may be bankrupt
—Many startups may be wiped out
—Crash may cause a recession! pic.twitter.com/wA38Mx1edb

— Deedy (@debarghya_das) March 10, 2023

Via TikTok. and Midnight Rider.

The post Biden Effect: MASSIVE Line Forms Outside of San Francisco Silicon Valley Bank Branch as Bank Folds (VIDEO) appeared first on The Gateway Pundit.

The censorship industrial complex is a growth industry to the US government, says Matt Gaetz and Twitter file journalists Matt Taibbi and Michael Shellenberger.

Yesterday, journalist Matt Taibbi released a Twitter thread that was just devastating.  The Obama Deep State has created a Censorship-Industrial Complex.

10. We came to think of this grouping – state agencies like DHS, FBI, or the Global Engagement Center (GEC), along with “NGOs that aren’t academic” and an unexpectedly aggressive partner, commercial news media – as the Censorship-Industrial Complex.

— Matt Taibbi (@mtaibbi) March 9, 2023

In the same thread, Taibbi shared that Non-Government Organizations (NGOs), like the GEC or the Department of Defense funded Newsgard, the fake fact-checker which has spent years harassing The Gateway Pundit, are part of an effort to shut down conservative media.  They do this by publishing fake and false fact-checks and then using these to attack the honest media and share with their advertisers to reduce their income.

25. Some NGOs, like the GEC-funded Global Disinformation Index or the DOD-funded Newsguard, not only seek content moderation but apply subjective “risk” or “reliability” scores to media outlets, which can result in reduction in revenue. Do we want government in this role? pic.twitter.com/s9tobM9rf8

— Matt Taibbi (@mtaibbi) March 9, 2023

US Rep. Matt Gaetz did a superb job of laying this out in his 5-minute rebuttal in the House yesterday.

The nexus to authoritarianism is the desire to control the nature of truth itself.

That is the true goal of the Censorship Industrial Complex. #TwitterFiles @Weaponization pic.twitter.com/GvD7oywvTL

— Rep. Matt Gaetz (@RepMattGaetz) March 9, 2023

Gaetz summarized a part of this with the following tweet that included only a small section of his presentation.

.@RepMattGaetz: “What you’re describing…is…the directing of revenue to certain media companies over other media companies designed…with U.S. government funding and support.”

SHELLENBERGER: “That’s right.”

GAETZ: That is…astonishing!” pic.twitter.com/b7NkdqSdBY

— Daily Caller (@DailyCaller) March 9, 2023

The Obama goons hate America and Americans.  They want to change this Godly and blessed nation by destroying the Constitution and the people of America.  Their biggest acts are ending the First Amendment and destroying free and fair elections.

The post “This Censorship Industrial Complex is a Growth Industry to the Government” – Rep. Matt Gaetz on Government Funded Censorship of Conservatives appeared first on The Gateway Pundit.