So-called “disinformation experts” are claiming that “conspiracy theories” being spread by “far-right websites” and “doomsday preppers” are to blame for Silicon Valley Bank’s (SVB) recent collapse.
The claim comes just days after Democrat Senator Mark Kelly (D-AZ) called for censorship on social media to bury reports on the banking crisis in an effort to prevent bank runs.
“Russian media outlets, far-right websites, short sellers and doomsday preppers were among those who pushed and amplified conspiracy theories online focused on the collapse of Silicon Valley Bank,” Bloomberg claims in a new report.
The for-profit firm Alethea, which pitches itself as an “anti-disinformation” organization, weighed in on the banking crisis.
According to the company, a wide range of social media accounts used the collapse of SVB and other banks to promote their own agendas.
Rather unsurprisingly, Alethea claims that these alleged “disinformation” agendas were led by the Right.
The firm’s founder Lisa Kaplan told Bloomberg that the claims by venture capitalists speculating about the collapse of the bank were amplified by “propagandists and foreign influencers.”
Kaplan claims these claims contributed to the collapse of the bank.
“We assess that these outlets may have increased online panic and contributed to the broader cross-platform spread of false or misleading content about SVB,” Kaplan said to Bloomberg.
“We also assess that conspiratorial narratives may have accelerated panic, which then posed a risk to the broader financial system,” she said.
“This shut down a bank, and I’m concerned about it happening again,” Kaplan added.
Multiple pundits and websites claimed that the bank collapsed because of the prioritizing of “woke” environmental, social, and government (ESG) initiatives over risk management.
Others have blamed the economic policies of Democrat President Joe Biden’s administration.
And of course, some have even tried to blame President Donald Trump.
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