There was also inflation that came in at 6% (under reported really), so the piece below is crediting that for some of the price rise. But I’m with Caitlin Long in it being the banks. Of course since they’re bailing out all the depositors at these banks they’re pushing out the banking implosion with our tax dollars as it was elites and their companies with more than $250k in accounts. Consequently, a lot of start ups banked with SVB and were forced to by the venture capitalists who also had their money with SVB. If SVB was allowed to fail it could have had massive implications and shuttered many businesses, but for now they’re just pushing out the date. What’s of interest for this coming financial collapse is Bitcoin where they have far less control as compared to Gold manipulated through paper gold and over selling. But both will rocket when they finally lose control. Of interest, it’s reported that elite Peter Thiel told his companies, funded by his venture capitalist arm, to get their money out of SVB starting the bank run.
https://cointelegraph.com/news/bitcoin-price-breaks-26k-as-us-inflation-comes-in-at-6
The Federal Reserve has taken additional steps to limit the risk to banks, which have large exposure to devalued U.S. treasuries thanks to Federal Reserve rate hikes. It’s implemented a loan program, allowing those banks to borrow money against those assets, rather than being forced to sell them on the open market at a significant loss.