Trump: 'I can stop World War III, SVB crash is just the beginning'

By Al Mayadeen English
Source: Agencies
14 Mar 2023 11:21

In light of the fresh closure of Silicon Valley Bank and Signature Bank, Trump announces the sign of the times of economic downfall in the US.

Former US President Donald Trump at his Davenport campaign stop on March 13, 2023 in Iowa. (AP)

Speaking in Davenport, Iowa, former US President Donald Trump confidently told his supporters that he is the only president that could effectively prevent World War III from happening. "I am the only candidate who could make this promise. I will prevent World War III because I really believe you're going to have World War Three," he said.

Trump has made similar promises in the past that there would be "no dead people" in Ukraine or on the US being closer to a nuclear war as long as US President Joe Biden is in office.

Although, Trump had had a hand in escalating conflict during his term after he threatened North Korea to start “fire and fury like the world has never seen” if the DPRK issued threats against the US.

Trump accused Biden of failing in his foreign policy to stop the alliance between China and Russia

"The Biden administration has driven Russia, right into the arms of China, something that is unacceptable," Trump told attendees. "When you're a child studying history, the one thing you learn is you never want Russia and China to get together and form an alliance. Biden has done that. They have a big beautiful alliance right now.

"And they've driven Russia right into the arms of China. Like taking candy from a baby, it was for China," he added.

'DeSantis is a RINO'

Directing his comments to Florida Governor and potential opponent Ron DeSantis, the former president instilled fear into the public that DeSantis, or "DeSanctimonious" as he calls him, would abolish Social Security and Medicare, comparing him to Senator Mitt Romney (R-Utah) and former House Speaker Paul Ryan (R-Wisconsin).

“You have to remember, Ron was a disciple of Paul Ryan, who is a RINO [Republican in name only] loser who currently is destroying Fox [News] and would constantly vote against entitlements,” Trump said.

Trump then promised to do the impossible to "protect Iowa ethanol," by taking a jab at the governor for intending to cut off subsidies for agricultural products, including ethanol.

Sign of the times

In light of the fresh closure of Silicon Valley Bank and Signature Bank, Trump announced the sign of the times of economic downfall in the US.

"Two big banks yesterday closed, that's a bad sign, that could be the beginning," he stated, referring to the banks' collapse which is suspected to have started due to the increase in interest rates by the Federal Reserve System.

America's 16th-largest bank has seen 60% of its shares plunging on Friday, making it the second largest bank failure in US history following the great market collapse of 2008, prompting regulators to seize its assets and halt trade on its stocks in Nasdaq, AP reported on Saturday.

Startups, which make up the majority of Silicon Valley Bank's customers, started withdrawing money last week, depleting the bank's capital and sparking an all-out bank run. By the end of Thursday, customers had taken out an astounding $42 billion. The bank even looked for a buyer on Friday but failed to find one.

It is noteworthy that the bank served numerous Israeli businesses, and its collapse has caused alarm in the Israeli tech sector, according to Al-Monitor.