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From Banking Crisis To Currency Crisis...There's No Turning Back! | RTD Live Talk
Silicon Valley Bank's failure was due to the decrease in asset value caused by rising interest rates, resulting in worried customers withdrawing uninsured deposits. Economists warn of similar risks for 186 banks, and the Federal Reserve has backstopped the banking system with currency, as the situation may ultimately lead to a currency crisis.
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#SiliconValleyBank #interestrates #bankingcrisis #uninsureddposits #economists #FederalReserve #backstop #currency #debtcrisis
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