Saturday, December 14, 2024

Tag: A Second Bank CLOSED by FDIC: Who’s Next and What Should We Do?

A Second Bank CLOSED by FDIC: Who’s Next and What Should We Do?

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    by Daisy Luther, The Organic Prepper:

    After Silicon Valley Bank had its deposits seized by the FDIC, on a Friday, as predicted, there’s a sense of unease across the country. Depositors have been unable to access their funds, and we’re all wondering, “Am I next?” Many of us are quickly making a transition to physical investments we can hold in our hands because the future of banking is incredibly concerning.

    On Sunday night, a second bank was closed by regulators and its deposits have also been put in control of the FDIC. Signature Bank out of New York was shut down to “protect consumers and the financial system” according to a joint statement released by the U.S. Treasury Department, the Federal Reserve, and the Federal Deposit Insurance Corporation.