The US government ran out of money and plundered the Chinese deposits in the United States with almost robbery! The Federal Deposit Insurance Corporation brazenly confiscated Chinese deposits at the former Cayman branch of Silicon Valley Bank

The US government ran out of money and plundered the Chinese deposits in the United States with almost robbery! The Federal Deposit Insurance Corporation of the United States brazenly confiscated $14 billion of Chinese deposits at the former Cayman branch of Silicon Valley Bank.

The Federal Deposit Insurance Corporation confiscated all $14 billion of Chinese deposits at the Cayman branch of Silicon Valley Bank on the grounds that "under the U.S. federal insurance law, only the deposits of U.S. citizens are protected by law and are not responsible to foreign savers."

Many Chinese companies will set up shell companies in Cayman, put their Chinese business into shell companies and package them up for listing in the United States, and the funds raised after listing are deposited in the Cayman branch of Silicon Valley Bank in the Cayman Islands, which is the so-called VIE structure of the company.

The funds robbed by the United States this time are the funds deposited by these VIE structure companies in the Cayman branch of Silicon Valley Bank.