President Biden seems to be focused on preserving natural resources as banks across America are on the precipice of financial ruin —and tech billionaire Elon Musk called him out on it on Twitter.
On Wednesday, President Biden posted the following on Twitter: “In my first year in office, we protected more lands and waters than any president since John F. Kennedy. We’ve also made the largest investment to fight climate change – ever. Today, we’re building on that momentum by protecting additional natural wonders.”
In my first year in office, we protected more lands and waters than any president since John F. Kennedy.
We’ve also made the largest investment to fight climate change – ever.
Today, we’re building on that momentum by protecting additional natural wonders. pic.twitter.com/bMwc915fuG
— President Biden (@POTUS) March 22, 2023
Musk immediately followed up with a brutal reminder for Uncle Joe.
Umm … the banks are melting
— Elon Musk (@elonmusk) March 23, 2023
From The Daily Wire:
The remarks from Biden about conservation and environmental protection indeed come shortly after the collapse of Silicon Valley Bank, where the Federal Deposit Insurance Corporation was forced to guarantee the funds of account holders with balances surpassing the $250,000 threshold typically insured by the government-backed corporation. Financial authorities such as Treasury Secretary Janet Yellen have since scrambled to reassure markets that the banking system remains sound and that the Biden administration would meaningfully prevent bank runs.
Silicon Valley Bank fulfilled withdrawal requests by selling a long-term bond portfolio that had declined substantially in value amid Federal Reserve actions to hike interest rates. Monetary policymakers have been forced to risk a recession with the rate hikes in order to combat the record inflation witnessed in the two years since Biden assumed office. Assets in the banking system are now $2 trillion lower than their book value as a result of the rollback in monetary stimulus, according to a study from analysts at the National Bureau of Economic Research.
You may be watching the wrong ballgame, Joe.
More over at The Daily Wire:
— Daily Wire News (@DailyWireNews) March 24, 2023