Saudi Press
Saudi Arabia and the world
Wednesday, Mar 22, 2023
The World in the Heart of the Kingdom
Good news: The U.S. government is now guaranteeing all deposits, held by, Silicon Valley Bank, and the funds are available as of today
In a joint statement, the heads of the Federal Reserve, Treasury Department, and FDIC announced that they have approved actions enabling the FDIC to resolve Silicon Valley Bank in a manner that fully protects all depositors.
Starting Monday, March 13th, depositors will have access to all of their funds, and no taxpayer money will be used to cover any losses associated with the resolution of Silicon Valley Bank, the statement added.
This is fantastic news, not only for Silicon Valley depositors but also for the entire financial world.
This dramatic move demonstrates that the Federal Reserve has learned from its huge mistake that collapsed the entire world economy in 2008.
Instead of blaming others as it usually does, the Federal Reserve is ready to take responsibility for its failure to regulate banks and is now prepared to print endless money (at no cost anyway) to rescue depositors who continue to trust the American financial system despite its history of repeated failures.
The announcement sends a strong message to the world that the U.S. financial system can be trusted without limits.
No other country can guarantee what the U.S. can: printing as much money as they want, at no cost.
They are providing immediate and unlimited help to restore confidence in the financial sector.
This was a quick response. At the beginning of the domino effect. And, before the needle hit the economic bubble. In a perfect timing. just before it became too late.
This is fantastic news, not only for Silicon Valley depositors but also for the entire financial world.
This dramatic move demonstrates that the Federal Reserve has learned from its huge mistake that collapsed the entire world economy in 2008.
Instead of blaming others as it usually does, the Federal Reserve is ready to take responsibility for its failure to regulate banks and is now prepared to print endless money (at no cost anyway) to rescue depositors who continue to trust the American financial system despite its history of repeated failures.
The announcement sends a strong message to the world that the U.S. financial system can be trusted without limits.
No other country can guarantee what the U.S. can: printing as much money as they want, at no cost.
They are providing immediate and unlimited help to restore confidence in the financial sector.
This was a quick response. At the beginning of the domino effect. And, before the needle hit the economic bubble. In a perfect timing. just before it became too late.
