Philadelphia-based bank Republic First was seized by authorities in April, marking the first bank failure of 2024. Consulting firm Klaros Group says 282 banks are at risk of a similar failure.
“This bank failure [of Republic First] indicates that additional failures will occur and will range between smaller community banks and larger banks.”
—Joseph Lynyak, banking attorney at Dorsey & Whitney
What vulnerabilities are banks facing today, and how can Americans protect themselves from potentially systemic risk in the banking sector?
Click on the video link below for exclusive executive insights on this topic from Edmund C. Moy, 38th Director of the U.S. Mint and Senior IRA Strategist for U.S. Money Reserve.
Related headlines from around the web:
- Fox Business: “Republic First seizure signals more bank failures to come, expert warns”
- CNBC: “Why hundreds of U.S. banks may be at risk of failure”
- MarketWatch: “Why global gold demand marked its best first quarter in 8 years”
Enhance your portfolio with precious metals today.
Widespread market forces like central bank demand, geopolitical tensions, and monetary policy may continue to drive gold prices higher. Gold has also historically been used as a hedge against economic uncertainty and market turbulence. Now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.
