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FDIC Rushes Silicon Valley Bank to the Financial Scrapyard to Auction it Off for Parts Today

by JD Rucker
March 12, 2023
in News
Reading Time: 1 min read
0

“Scrambling.”

That was the single-word reply I received from a contact in the White House when I asked what the Federal Deposit Insurance Corporation (FDIC) was doing today about failed Silicon Valley Bank. Then, Bloomberg confirmed what many expected would be happening this weekend:

“Nations, states, and central banks are quietly but rapidly shifting their money to precious metals. With bank runs, recession, CBDCs, and worse on the horizon, it’s easy to see why. NOW is the time to learn more about moving portions of your retirement or wealth to a self-directed gold and silver IRA through an America-First, Christian precious metals company.” – JD Rucker (not a financial advisor, just a guy who’s paying attention)

The Federal Deposit Insurance Corp. kicked off an auction process late Saturday night for Silicon Valley Bank, with final bids due by Sunday afternoon, according to people familiar with the matter.

The FDIC is aiming for a swift deal but a winner may not be known until late Sunday, according to one person, who asked to not be identified because the matter isn’t public. No final decision has been made and it’s possible that no deal may be reached, said the people.

Representatives for the FDIC didn’t immediately respond to requests for comment outside regular business hours. Silicon Valley Bank collapsed into FDIC receivership on Friday, after its long-established customer base of tech startups grew concerned and yanked deposits.

As I noted in an article this weekend about the potential for Twitter to buy SVB, the logistics of buying and selling a bank are far less complicated than acquisitions of other similar-sized businesses. The roadmap for breaking apart and selling off a bank has been used many times in recent decades. It’s just a whole lot of paperwork.

We should hear who the new owners of Silicon Valley Bank are by Sunday evening. It behooves the FDIC and the White House to get this debacle resolved ahead of markets opening on Monday.

Don’t wait for beef to become more scarce. Stock up with the only American company that sells frozen AND freeze-dried beef in the same package. This America First, veteran-owned company is ready to help you eat well today and eat well tomorrow. Use promo code “nocrickets” for 15% off at checkout.
“Nations, states, and central banks are quietly but rapidly shifting their money to precious metals. With bank runs, recession, CBDCs, and worse on the horizon, it’s easy to see why. NOW is the time to learn more about moving portions of your retirement or wealth to a self-directed gold and silver IRA through an America-First, Christian precious metals company.” – JD Rucker (not a financial advisor, just a guy who’s paying attention)

Bypass Big Tech Censors


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Why We “Moderate” a Commentor’s First Post

Tags: EconomyFDICLedeMoneySilicon Valley BankTop Story
JD Rucker

JD Rucker

I'm a Christian, husband, father, and patriot in Southern California. I'm also an independent journalist who operates several sites, including NOQ Report, Conservative Playlist, Based Underground, and Uncanceled News. I am editor at The Liberty Daily, co-founder of Freedom First Network, and co-founder of Prepper Organics. You can find me on Substack at America First Report, Late Prepper, and End Medical Tyranny. Contact me via email with any questions. jdrucker (at) substack (dot) com

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