Berkshire Hathaway’s Warren Buffett joins 'Squawk Box' from Tokyo to discuss the banking crisis fallout, and the role FDIC plays during a bank failure. For access to live and exclusive video from CNBC subscribe to CNBC PRO: » Subscribe to CNBC TV: » Subscribe to CNBC: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBCTV ...(read more)
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Warren Buffett, the American business magnate, investor, and philanthropist, is known for his successful investments in various industries, including the banking sector. He has been instrumental in the growth and development of the American economy, especially during times of crisis. In the wake of the recent banking crisis fallout, Buffett has reassured depositors in the U.S. that no one will lose their money on deposits. Buffett is the CEO of Berkshire Hathaway, a massive conglomerate that has invested heavily in the banking sector over the years. His company owns significant stakes in many leading banks, such as Bank of America, Wells Fargo, JPMorgan Chase, and Goldman Sachs. Therefore, he has a vested interest in the stability and success of these institutions. Despite the challenges posed by the COVID-19 pandemic, Buffett remains optimistic about the future of the banking industry. He believes that the U.S. banking system is strong enough to weather the current storm, as well as any future crises that may arise. In an interview with CNBC in May 2020, he declared, "The banks will not get this country in trouble, I guarantee it." Buffett's confidence in the banking system is understandable, given the strong regulatory framework that governs it. Since the financial crisis of 2008, the U.S. government has implemented various measures to increase transparency, accountability, and stability in the banking industry. As a result, banks are now better capitalized, more transparent, and less exposed to risks than they were before. Furthermore, depositors in the U.S. are protected by the Federal Deposit Insurance Corporation (FDIC), which guarantees deposits up to $250,000 per depositor per bank. This means that even if a bank fails, account holders are assured of getting their money back, up to the insured amount. Buffett's statement that no one will lose money on deposits in the U.S. is, therefore, not unfounded. Deposit insurance is a vital safety net for millions of Americans who rely on banks to store their money safely. It gives them peace of mind and confidence that their funds are secure, even in the face of adversity. In conclusion, Warren Buffett's assurance that depositors in the U.S. will not lose money due to the banking crisis fallout is a testimony to the resilience and strength of the American banking system. While no system is perfect, the measures put in place to protect depositors have gone a long way in ensuring that their funds are safe. As Buffett himself put it, "The American miracle, the American magic has always prevailed, and it will do so again." https://inflationprotection.org/warren-buffett-assures-the-safety-of-deposits-in-the-u-s-amidst-banking-crisis-fallout/?feed_id=96447&_unique_id=645c9ab71bfef #Inflation #Retirement #GoldIRA #Wealth #Investing #breakingnews #businessnews #cable #cablenews #CNBC #financenews #financestock #financialnews #money #moneytips #newschannel #newsstation #SquawkBoxU.S. #stockmarket #stockmarketnews #Stocks #usnews #worldnews #BankFailures #breakingnews #businessnews #cable #cablenews #CNBC #financenews #financestock #financialnews #money #moneytips #newschannel #newsstation #SquawkBoxU.S. #stockmarket #stockmarketnews #Stocks #usnews #worldnews
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