EXPOSED: The Pentagon is scheming to bail out big businesses. Ana Kasparian and John Iadarola discuss on The Young Turks. Watch TYT LIVE on weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live
Read more HERE: https://theintercept.com/2023/04/03/silicon-valley-bank-bailout-pentagon/
"THE NEXT TIME banks need a bailout, they'll have a new argument for why it's necessary: national security.
In recent months, the Pentagon has moved to provide loans, guarantees, and other financial instruments to technology companies it considers crucial to national security � a step beyond the grants and contracts it normally employs. So when Silicon Valley Bank threatened to fail in March following a bank run, the defense agency advocated for government intervention to insure the investments. The Pentagon had even scrambled to prepare multiple plans to get cash to affected companies if necessary, reporting by Defense One revealed.
Their interest in Silicon Valley Bank stems from the Pentagon's brand-new office, the Office of Strategic Capital. According to the Wall Street Journal, the secretary of defense established the OSC in December specifically to counteract the investment power of adversaries like China in U.S. technologies, and to secure separate funding for companies whose products are considered vital to national security. It enjoys special authority to use loans and guarantees not normally available to the Defense Department to attract private investment in technology."*
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230405__TA02Pentagon
I’m not sure this is as much of a scandal as Ana thinks it is. If the tech firms in question are providing relevant defense tech, then there could be a legitimate national security concern. Of course, if that’s really the case, it should come with reasonable regulation.
She also seems to be conflating the tech firms that got bailed out with the bank that didn’t get bailed out. The banks/financial regulation is a separate issue from the tech firms/defense regulation. Trying to make it one single issue is just going to lead to confusion.
@earlherring3758 Says:
We live in a very CORRUPT country at all angles. Disgusting.
@annharlan8926 Says:
Gee, most reps are prostitutes for donors. Sad and yet disgusting - with our money.
@briargoatkilla Says:
...and where does the taxpayer's money come from?
@donaldstewart9873 Says:
And Again,... That is the GOVERNMENT!!! Make all of the money you can b4 your term ends. But if your term doesn't end,... Get everything you can!
@peterwilliams6361 Says:
I wasn't financially free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing!Very inspiring! I love this
@Fatma-mx6cc Says:
This is obviously the fall of America, it’s right in front of our face. I worked for the Department of Defense for years, I know how it works, and it doesn’t involve helping the little people, they don’t even see us, and our representatives are suppose to represent us, we pay for them. Greed is a disease that isn’t going to stop unless someone who cares stops it, like the American people on the ground.
@sandburgmartin7947 Says:
One example. The mega, mega wealthy gun industry is a big part of receiving Pentagon Defense Contracts. They prop up politicians through the NRA by GUN SALES. But their sought after diamonds are over-bloated Defense Contracts those politicians approve with YOUR TAX DOLLARS.
We don't need to pay twice. Let the Pentagon, with its bottomless pockets of your money, bail out their so called commercial investors. NO MORE BAIL OUTS for stupid bank executives.
@euroyankee2003 Says:
If the run on Silicon Valley Bank was so egregious, let's see if anyone gets prosecuted for starting it.... my guess is no
@euroyankee2003 Says:
The collapse of the US economy would mean a guaranteed attack from a foreign country. Try not to sound stupid
@Tanlantas Says:
hmm.. And I thought they didn't have any money. Seems to be the excuse to let the homeless rot.
@keithrodgers1030 Says:
Just more evidence of how corporate entities constantly have the begging bowl out with their fingers in the taxpayers pockets.
@rudedogg_2 Says:
What's the matter Ana couldn't find anything legitimate to complain about today?
@rudedogg_2 Says:
In that interview with Jon Stewart and the Defense spokeswoman they were saying that 850 billion dollars were unaccounted for! This could account for some of that I would think.
@SpecialEdDHD Says:
The Pentagon and the CIA really run the country. Presidents, Democrats, Republicans. It doesn't matter lol. They steal trillions every year without a care lol.
@elliekim6666 Says:
Ana is also transphobic but where's your story on that 😂😂😂
@melmarie7155 Says:
Fuck Ana racist ass. Unsubscribing. Petty bullying of a Bkack woman go to ducking hell Ana I already knew you hated black women after you ignored that ladies message about black femicide. Way to go crank using your platform to bully black women
@heavyarms55 Says:
American War mongers need a villain. China is an always easy target. All you have to say is "China" and congress opens the purse and funds whatever the Pentagon asks for.
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@davidpoole8130 Says:
I'm shure Trump is behind it.
@wrongturnVfor Says:
Yeah, Pentagon is not acting as venture capitalists here. Read "Confessions of an Economic Hitman" By John Perkins. What they are doing is debt entrapment. Basically holding the funds of those international tech companies hostage (international creditors have not been made whole, predictably) to blackmail them to sell their tech to Pentagon. A lot of these firms are working with crypto and AI. And The world is moving away from dollar onto a different trading system based on crypto which will require AI to run it . US Is wayyyyy wayyyyy wayyhayyyy behind everyone on these issues, because we spent the last two decades suppressing this tech instead of developing it because this system is decentralised and cannot be manipulated for the whole world from one agency like the FEd does with current system. Well, now, we cannot compete with the rest of the world. So this is basically a highway robbery - not just of their funds but also of their intellectual property. The theory is bolstered by the fact that US just released FEdNOw an online payment system, one of the first steps to get into this system. And the launch is shoddy and adoption is unlikely at any meaningful scale. So they have finally realised they cannot suppress it and need to catch up fast. So they are doing this. My guess is most of these firms are not gonna let it happen and take the hit if they need to. And well, there are already lawsuits against the parent banks that have cannibalised these small banks. basically someone is literally suing MIC for robbery in a way. Lets see where that goes.
@jawant6039 Says:
Ana give me a good reason why our national security isn't compromised if our economy collapses. I mean look at all of those poor nations enforcing democracy and backing up the rest of the world with their military might...
@jawant6039 Says:
Shallow-minded Ana doesn't think economic collapse is a national security threat. I mean, sure America is STRONGER if the financial system collapses and our enemies will be even more afraid of us....
@RosemaryRolfe Says:
Ana should be a Nudist. She would be a liberated woman Naked. She would be one with mother nature in her Birthday Suit.
@wrongturnVfor Says:
Ana, it has been a month, please educate yourself on this. Unrealised losses due to T-Bonds are not a cause for bank runs. Do you not know that T-Bonds arent the only things that get devalued when Fed rates go up? all previous lending that happened when fed rates were low is devalues. That includes Mortgage Based Securities, Personal credit bundles, Bonds of different companies - everything. It does not explain why only these banks collapsed, though. Because they are unrealised losses. This does not explain Banks like Credit suisse going under which were subject to those regulations DAILY. And does not explain why KPMG gave a clan bill of health to SVB and Signature bank just days before the collapse.
Let me break it down for you. SVB had about $200 billion in assets. Okay? so they held about 55% of it in long term assets LIKE but NOT limited to T-Bonds. So that leaves them with what $90 billion in short term assets? Do you know how much money was withdrawn from that bank in 1 day? $42 billion. That is insane.
For context, JP Morgan Chase that has assets worth 3.2 trillion sees a daily deposit and wirthdrawal of about $50 billion around the world. That is not just withdrawal. IT is withdrawal and deposits. So for a bank the size of SVB, $42 billion is a lot as such but in one day? It is a death sentence. And the fact that ALL of those deposits went through shows you this WAS NOT a liquidity crisis
The fact that about 1/4th of their capital was withdrawn in ONE day and the fact that ALL those transactions WENT THROUGH shows you that this was NOT a liquidity crisis. For context Jp Morgan chase sees only less than 2% of its capital changing hands everyday. That is deposits and withdrawls. The industry standard is 7%. SVB saw more than 25% withdrawn in ONE day.
These banks were not in any crisis until wall street started fearmonegring about the bonds, spooked their investors and caused them to "refinance". Which was normal. Aka sell the T Bonds and re invest elsewhere. They were gonna lose a little money Which was 0.5 % of their capital and they set out the plan to raise that loss. That is not even close to a threat when you look at the fact that they had 45% assets in liquidity more than enough to cover daily transactions (even the increased ones in tech recession) But wall street screamed bloody murder fearmonegring about them causing a run on the bank and causing the collapse. Why? Because they wanted to short sell the shares of these banks and make money from that.
And The run was started by an ISraeli firm Entree capital on banks that Saudis had investments in and US dont like Suadis helping dedollarisation efforts around the globe right now or the fact that they arent increasing oil production to help our economy like they did back in 2008. SO no, regulation and stress tests and investment elsewhere would not have stooped it. You dont have a clue the world changing things going on right now. Bank collapses are just a miniscule side effect of those.
And no amount of regulation in the world can stop a bank run. That is just a fact. The point is there needs to be enough confidence in the economy to not cause a run. Wall street doing this in the beginning of 2021 would not have caused a run, now it did because of where the economy is at right now. Guys please dont be this dumb, you make progressives look like idiots.
@wrongturnVfor Says:
Ana sounding a bit Trumpian when she says "nobody knew". GO back to the day TYT reported on SVB collapse about 3 weeks ago. I posted a comment under that video elaboraing this very thing. Excerpt from that comment :
"The biggest clientele of this bank is garbage like crowdstrike funding which is literally the cyberwarfare extension of MIC and firms with the biggest funds on the planet (Andreessen Horowitz in particular) that works with crypto players… In particular, it manages part of the USDC stablecoin reserve of the American Circle, which confirmed to have a little more than 3 billion dollars of reserve blocked in the establishment"
And let me add to this so you can let me know when TYT catches up , if ever.
So it didnt make sense to me why the SVB and other banks collapsed. I udnerstand the how and T_bond and yada yada. But a run due to unrealised losses of devalued t bonds doesnt make sense. The only logical excplanation is wall street generated panic so they could cause the collapse so they could make money by short selling shares. As I did state in my original comment. But that doesnt expalin why the media gave them the platform to yap and create the panic in the first place. Unless, the MIC wanted the banks to collapse. But why?
So I looked deeper. turns out all these banks had investment from firms like Anreeson Horowitz. The thing about firms like AH is that they have a ton of Saudi investment. Also these banks have a lot of investment from foreign tech companies. Saudis are undermining the petrodollar, investing in other countries that we are trying to ensnare in debt via IMF (so that prevents them being indebted to us) and using oil to back crypto. Also they arent cooperating like they did back in 2008 by pumping more oil to keep our inflation down (I know why would they, profits and we dont have a right to ask them to. ) Rather they are cutting production to hurt our economies. ( The rest of the world is getting reasonably priced sanctioned oil from Russia, Iran and venezuela, especially now after UN adopted a resolution vociferously condemning unilateral sanctions). And these other tech companies are helping other countries develop mechanisms to set up the system to make CBDC's (national crypto currency) and mechanisms for international trading with them). Heard about Chat GPT? Well one thing Chat GPT can do is generate self triggering contracts which is important for this kind of system. And who are the investors you ask? Meta, Google, Microsoft and Musk. There were these overseas tech companies developing the program for Open AI. And USA'a own efforts to set up crypto and AI systems have bee a total failure. Also India just rules on a case against google which breaks up Google monopoly on stuff. So I guess it might have something to do with free use of Chat GPT as well. And Twitter changing its symbol to Dogecoin for a while signals Twitter is gonna be in on it. Saudis own a giant portion of twitter. So basically the idea was to collapse the banks, hurt the saudis and tech companies and then bailout US firms and investors. Which is exactly what has happened.
The Saudis had said they would sue if they werent able to recover their money. Which they havent so far. And recently there have been lawsuits filed against SVB and Credit Suisse. They are technically by investors and a bunch of pension funds and stuff but I am pretty sure Saudis are behind those lawsuits. So we shall wait and watch for more info on that.
The fact that there was no actual reason for the run and the run started from an Israeli company Entree capital while there are massive "protests" putting immense pressure on Netenyahu is hella sus.
You can also look at Credit suisse collapse. One of their major clientele was AH as well. Swiss government has said there was immense pressure on them to do the Credit Suisse UBS merger. And Credit Suisse completely changing the credit hierarchy to offload the costs on US and UK bond holders instead of shareholders as is the norm says a lot too.
So think of SVB collapse as if a shipping company (Big banks like JP morgan) whose friend is an oil company (american oil companies) that sees competitors coming up. A Rival shipping company (Saudis) invests in a bunch of small oil businesses (Tech start ups, SVB, Silvergate, Credit suisse via AH) to get their business. So you go to these small businesses, take a giant cargo to ship it across the ocean and then Sink your ship en route (bank collapse). you then claim insurance money (fed backstop/ bailouts which are happening via fed funds transfer program), you give some to your oil friend but then say some paperwork issue will delay or stop payment to Startups (days after Biden said creditors would be made whole, Janet Yellen said all creditors will not be made whole and international payments have not been going out. I believe we just stole a bunch of other people's money. Nothing new of course). They go under and your friend buys them (JP Morgan and UBS buying small banks out to keep it in the MIC family). your rival loses investment and you buy them out. you are back to being monopoly and by damaging your own ship you got access to all the shipping routes, connections and ports; new population to sell to and your friend gets access to them too. You also get access to new products from these new lands. All due to hard work of others.
I know it sounds crazy but read Confessions of and economic Hitman by John perkins, And he describes a very similar phenomenon where oil companies cannibalised green energy companies to keep the MIC agenda going. Very similar to this. This was a controlled burn. And once they had done what they wanted and got the message across that no big firms should take saudi or specific startup money. The pentagon thing sounds like they are trying to cannibalise development of stuff like Chat GPT because they are not able to gain control otherwise. It is all sorts of disturbing tbh.
@jimgraham7139 Says:
Tax payers rejoice.
@nicholassheavils209 Says:
The failed audit agency giving out money. Yay
@carlbeaver7112 Says:
And you are surprised, why? This is nothing new, it has been business as usual for decades. Not claiming it's right or wrong, just that it may have been news 60 or 70 years ago.
@jamesnash6101 Says:
There seems to be a huge conflict of interest for this Mark Warner. Red flag number 1):
He has huge financial ties to this bank. And therefore, everything that this bank does enriched him personally.
2): He voted for banking deregulation and loosened oversight. This allowed for banks to make risky investments, and as a result they and he lost money.
3):
Now he wants to take tax payers money, money that could be used to assist a lot of people. And use it so that he doesn't loose money?
If all of that isn't a conflict of interest. I don't know what is.
@bbyshady Says:
The gov has been weaponized against the people it is supposed to protect. No amount of “voting” will change it. You are cannon fodder for capitalism, and it is up to you, if you want it to stay that way. No amount of bickering on the internet will fix the problem. It will require many of you to get off you asses for once, and put yourself in harms way.
@JohnSmith-il7jn Says:
Joe Biden, it's all Trump fault. By the way kids, I will be almost 90 when I am President in my second term. I'm so old, Mary Todd Lincoln was my babysitter!
@archie2511 Says:
😅😅😅😅😊😊😊🎉😊😅😊😊🎉😊😅😊😅😊😊😢😢
@frankmoon9350 Says:
Well, keep the people divided TYT. That's the whole point. The last thing the establishment wants is a unified society not distracted by extremist ideology.
@darquanhannah3494 Says:
Vote him OUT
@noigelskram2435 Says:
A bloated, unaccountable tax-and-spend government is what you have been wanting This whole time.
@crimson_orion6935 Says:
8:00 damn these rich people
@bocephusbirchcull4044 Says:
Remember: it’s only corporate dems fighting for gun control.
@justinsternhagen4698 Says:
Exactly same plan for social security, High Risk/Hugh Loss.
@razman4240 Says:
War is profitable and this is one way that money is being spent.
@stanleygiudici4013 Says:
Enough of the bailouts! We, the people, refuse to bailout corporations. If it can't make it in a capitalistic society, it must be allowed to go under, and another takes its place. That's capitalism.
@derekgoncz7970 Says:
It is a national security concern and it’s not a crime to support your military. Listen to her bitch lol
@norwoodsstokes3883 Says:
Where is the barnicle scraper's & conservative nutz...crying about big government & it's mishandlings...on this issue...here's some obvious swamp sh*t...for Fox news & GOP leadership...to call out...🤔😏
@Matt_of_the_mountains Says:
I'm not sure why this is surprising to anyone
@2pagan Says:
I'm surprised they are not blaming Russia or China. 😂
@pauldouglas4158 Says:
I’m starting to regret serving in the army in 66-67 I was a medic and I risked my life for this bullshit
@dibroc8348 Says:
Thanks TYT.
@michaelburk9171 Says:
Seems paranoia is a trait of authoritarians.
I'm wondering where he'll find troop, or material, to station along the Finnish boarder.
Beau mentioned Japans increased military capacities recently.
I believe there are still islands claimed by Japan but held by Russia since the end of WWII.
Putin might need to fortify his far east
@2pagan Says:
Maybe they had money in the bank.
@cartoons981 Says:
any of these big business created seed for tree that grows . huge in few months so that big businesses can make unlimited things from that tree they created ? or these govt's or companies just take what's limited and keep making things infinately . untill. just a question since people are also part of environment . things want things infinately .from finite 🤔
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