Silvergate down, now there's a bank run on Silicon Valley Bank

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I'm wondering if this isn't fallout from the scheme to tax "unrealized capital gains" by the Biden administration.

This is essentially Biden announcing communism, fyi.

Let's say you start a company and it becomes successful. You own 100% of the company.

Biden now wants to tax you 40% of the paper value of that company.

You probably don't have 40% of the value of the company sitting around in a bank account, so you are forced to sell a huge percentage of your company at fire sale prices to pay off this tax bill.

Now imagine every private company has to do this all at the same time. It's the forced nationalization of private industry.

I'm wondering if this isn't fallout from the scheme to tax "unrealized capital gains" by the Biden administration. This is essentially Biden announcing communism, fyi. Let's say you start a company and it becomes successful. You own 100% of the company. Biden now wants to tax you 40% of the paper value of that company. You probably don't have 40% of the value of the company sitting around in a bank account, so you are forced to sell a huge percentage of your company at fire sale prices to pay off this tax bill. Now imagine every private company has to do this all at the same time. It's the forced nationalization of private industry.

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[–] • 1 pt

What's your source Mr. Commando?

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[–] • 0 pt

(edited )

It's all over the news. Come out from under your rock and look around.

https://ir.silvergate.com/news/news-details/2023/Silvergate-Capital-Corporation-Announces-Intent-to-Wind-Down-Operations-and-Voluntarily-Liquidate-Silvergate-Bank/default.aspx

https://www.msn.com/en-us/money/other/bank-carnage-drags-stocks-lower-as-svb-financial-shares-plunge/ar-AA18qIiI

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[–] • 1 pt

Thanks! Only the beginning..

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[–] • 1 pt

Listen up, bro, I don't see it nowhere you feel me?

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/s/Bankless

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