Carl Icahn: The problem with the system is ‘too much money floating around’
Billionaire investor Carl Icahn says the collapse of Silicon Valley Bank and others shows that the U.S. issues ‘too much capital,’ and too much money causes inflation.
Billionaire investor Carl Icahn joined "Your World with Neil Cavuto" Monday to express his concerns about the state of the U.S. economy and the collapse of Silicon Valley Bank and its ramifications.
CARL ICAHN: I think the banking crisis is something that you might expect in Silicon Valley Bank. There's so much money floating around in the system, and I think [Federal Reserve Chair Jerome] Powell is very right about that. There's just too much cash. By definition, if you keep printing out money – I mean it's obvious and simple, but I like to look at things simplistically. If we have too much money floating around in the system, you're going to have inflation by definition. And then people say, why should they work? If you look at any hegemony throughout history, pretty much inflation has caused hegemony to fall. Let's go back to Rome, same thing. So you have that her,e and Powell is completely right in trying to stop it in its tracks.
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