The global financial system has been teetering on the brink of collapse for a couple of years now
Big Banks Starting to Collapse as Financial Experts Warn More Fallout Is Coming
JD Heyes with NewsTarget reports:
The global financial system has been teetering on the brink of collapse for a couple of years now, thanks to the stupidity of lockdowns and business closures during the COVID-19 pandemic. But now the system is really in trouble as other factors like war, inflation, and ongoing supply chain issues put even more pressure on already weak financial institutions.
On Wednesday afternoon, the holding company of Silvergate Bank, a significant player in the world of cryptocurrencies, announced its plans to wind down operations and liquidate, Barron’s reported this week, noting that the once-stout financial giant is on its way to the ashbin of history.
“The holding company, Silvergate Capital SI –16.20% (ticker: SI), said in a news release Wednesday afternoon that its liquidation plan includes the full repayment of all deposits and that most deposit-related services will remain available during the process of shutting down,” the outlet noted further.
