“You have 20 or 30 Silicon Valley unicorn startups, that are burning billions of dollars every day, but you, as the executive of those corporations, or as a fund holder or as an intermediary banker, are taking a cut. So this debt unicorn economy in Silicon Valley is the Fed’s money-laundering operation to get money into the hands of the billionaires,” said RT’s veteran host and former stockbroker Max Keiser.
The same goes for fracking, in which the US has been investing for years, but that industry was never meant to make money, according to Keiser. He compared the scheme to a “mobster” running a restaurant until it eventually collapses.
“Now here the Fed runs their billions through these losing corporations until they go bust like WeWork, and then they torch it,” he went on. “Just like that mob-run restaurant eventually goes bust and is torched. The American economy is now on the verge of completely going under.”
For more stories on economy & finance visit RT’s business section
This content was originally published here.