Lately there has been a lot of discussion in the biased left-wing media about high-tech companies that have withdrawn their capital from Israel. Some, including: Verbit, WIZ and Afya Global did it with a lot of publicity, loudly announcing their decision and urging others to follow their example.
Now it turns out that the bank to which they transferred their funds American SVB (Silicon Valley Bank) — declared bankruptcy ... At the end of last week, the shares of this bank collapsed, first dropping by 60 percent, and then falling by dozens of percent more. As a result, SVB stock dropped in value by 90 percent!
As a result, the U.S. Federal Deposit Insurance Corporation was forced to take over the bank and freeze all of its operations. Currently, the directors of the bank are desperately looking for a buyer who would agree to buy it out in whole or at least in part, covering the huge losses.
Hm...
From our point of view, this situation has once again demonstrated very clearly that the safest place to invest is the Holy Land!
In turn, Prime Minister Netanyahu, who returned from a brief but more than successful visit to Italy, where he agreed with the prime minister of that country to make multi-billion dollar investments in the Israeli economy, spoke today, reminding us that the Israeli economy continues to be stable. Netanyahu also promised that his government will help those Israeli high-tech companies that suffered losses because of the SVB collapse...
Well, as it seems to us, this story is quite educational, but we leave it to our readers to make conclusions on their own...