Episode 534: The State of the Economy: SVB, Interest Rates, and Protecting Your Retirement
Newt's World
Gingrich 360
4.6 • 6.4K Ratings
🗓️ 17 March 2023
⏱️ 34 minutes
🧾️ Download transcript
Summary
With the recent bank failures of Silicon Valley Bank, Signature Bank and First Republic Bank the stock market continues to be volatile. Many Americans want to know how they can protect their own finances and investments as we face this challenging economic period. Newt’s guest is Charles Thorngren, Founder and CEO of Legacy Precious Metals. He has been advising people on their personal finances and investments for over 25 years. For more information please visit buylegacygold.com/Newt
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Transcript
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| 0:00.0 | The revolution in investing is here, with legacy precious metals new online platform, you |
| 0:05.1 | can invest in gold and silver anytime, anywhere. |
| 0:08.9 | Choose your amounts, have them stored in a vault or ship to you, and track your growth |
| 0:13.3 | in real time. |
| 0:14.8 | And with inflation impacting the cost of living and volatility in the stock market, there |
| 0:19.1 | has never been a better time to invest in gold and silver. |
| 0:22.2 | That's why I invest with legacy precious metals. |
| 0:25.7 | Find out for your free account online today at buylegacygold.com. |
| 0:32.7 | That's buylegacygold.com. |
| 0:38.2 | On this episode of Newsworld, when Silicon Valley bank was taken over by federal regulators |
| 0:43.1 | last Friday, it was the largest US bank failure since the 2008 financial crisis. |
| 0:49.0 | There were a combination of factors that brought the bank under FDIC control. |
| 0:54.0 | Then, signature bank, a New York financial institution with a large real estate lending |
| 0:59.3 | business that had recently made a play to win cryptocurrency deposits, closed its stores |
| 1:05.0 | abruptly on Sunday. |
| 1:06.7 | After regulators said that keeping the bank open could threaten the stability of the entire |
| 1:11.8 | financial system. |
| 1:13.7 | The challenges these small and mid-sized banks face is focusing on niche lines of business |
| 1:19.0 | with a narrow customer base, which leaves them especially vulnerable to a run on the bank |
| 1:24.0 | scenario. |
| 1:25.0 | And today, we're going to talk about these bank failures, the impact on the stock market, |
| 1:30.2 | and why it's so important to diversify your investments. |
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