Bank news is moving quickly on Sunday morning.
According to Bloomberg, the Federal Deposit Insurance Corp (FDIC) is preparing to break up Silicon Valley Bank.
Sources who wished to remain anonymous stated that the FDIC plans to sell SVB in at least two parts. “Bids are due Friday for the so-called “bridge bank” that the FDIC set up to take receivership of SVB’s assets and liabilities,” the people said. In a separate auction, FDIC will begin taking bids Wednesday for SVB Private Bank. Bank regulators attempted to sell them all together on Sunday, but they told potential buyers the deadline was moved to increase the size of the buyer pool.Bloomberg reported earlier First Citizens BancShares was evaluating an offer for SVB.* * *Two weeks after seizing control of SVB Financial , the parent of Silicon Valley Bank, the Federal Deposit Insurance Corp (FDIC) is still in the process of […]
Read the Whole Article From the Source: www.zerohedge.com
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.