Democrat Senator Asked Feds If Social Media Censorship Was Being Used to Stop Bank RunsChris Menahan
Mar. 13, 2023
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Senator Mark Kelly (D-AZ) reportedly asked the feds during a Zoom meeting on Sunday night if "there was a program in place" to censor information on social media that could lead to a run on the banks.
From Michael Shellenberger, "EXCLUSIVE: Senator Mark Kelly Called For Social Media Censorship To Prevent Bank Runs":
During a conference call about the Silicon Valley Bank bailout yesterday, Senator Mark Kelly (D-AZ) asked representatives from the Federal Reserve, Treasury Department, and the Federal Deposit and Insurance Corporation (FDIC) if they had a way to censor information on social media to prevent a run on the banks, according to Republican members of the House of Representatives who were on the call.Massie also said on Twitter that the feds bailout amounts to looting the insurance premiums of those under $250,000 in the here and now to hopefully prevent a banking system collapse.
"Understand what's happening at FDIC: They're taking the insurance premiums that were paid in to protect depositors under $250,000 (little guys) and using it to cover deposits of the very rich," Massie said. "They argue it benefits everyone to go 'all in' on the first few banks."
[Header image by Gage Skidmore, CC BY-SA 2.0]
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