2 years ago
Warnings proceed to pervade marketplace and fiscal quality this week, with Monica Crowley, erstwhile adjunct caput for nationalist affairs for the U.S. Department of the Treasury, indicating “catastrophic” consequences if the U.S. dollar loses its presumption arsenic the world’s reserve currency. In related news, billionaire Bill Ackman warned that the U.S. system is “heading for a bid wreck.” Meanwhile, First Citizens Bank has acquired SVB, and the U.S. authorities remains a apical bitcoin holder with its seized stash. All this and more, conscionable below.
Former Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status
Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its presumption arsenic the world’s reserve currency. “That would mean the extremity of the U.S. dollar,” she said, predicting that “there would beryllium a implicit implosion of the planetary economical system.”
Billionaire Bill Ackman connected US Banking Crisis: ‘I Fear We Are Heading for a Train Wreck’
Billionaire Bill Ackman has warned that the U.S. system is “heading for a bid wreck” if the authorities allows the existent banking situation to continue. “Trust and assurance are earned implicit galore years, but tin beryllium wiped retired successful a fewer days,” helium said. “Hopefully, our regulators volition get this right.”
US Government Remains a Top Bitcoin Holder With Seized Stash Valued astatine $5.6 Billion
As of March 25, 2023, the U.S. authorities held 205,515 bitcoins worthy $5.6 billion, which is astir 1.06% of the circulating supply, according to existent statistics. The cache of bitcoins is simply a effect of 3 forfeitures that began successful 2020. Glassnode’s on-chain information reveals that connected March 9, astir 9,860 bitcoins worthy astir $269 cardinal were sent to a Coinbase address.
First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B
According to the Federal Deposit Insurance Corporation (FDIC), the troubled slope Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based successful Raleigh, North Carolina. First Citizens acquired each deposits and loans from SVB, arsenic good arsenic the 17 branches that SVB owned crossed the United States.
Where bash you deliberation the planetary system is heading? Are the warnings of illness overblown, underplayed, inaccurate, oregon close connected the money? Let america cognize successful the comments conception below.
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