Timothy Sumer

Central banks around the world have implemented a surprise interest rate cut in a co-ordinated bid to tackle the growing economic crisis. The UK rate was cut by half a percent - the biggest reduction for 7 years. The Prime Minister and the Chancellor also announced a taxpayer-funded bail-out scheme for the country's major banks. It could run into hundreds of billions of pounds. Sky's Joel Hills reports... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The UK government has announced a bailout package for the country's major banks. In response to the ongoing economic uncertainties brought about by the COVID-19 pandemic, the government has decided to support the banking sector to ensure financial stability and confidence in the market. The package, worth £1.3 billion, includes a range of measures des

After receiving $7 billion in aid from U.S. taxpayers, the nation's largest banks say they either can't track exactly how they're spending the money or they simply refuse to discuss it. (Dec. 22)... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The financial crisis of 2008 caused many banks to be on the brink of collapse. Governments around the world decided to bail them out with billions of dollars, but where did the money go? Many people are still asking that question. Initially, the banks were hesitant to reveal how they used the bailout money, citing privacy and competitive concerns. However, eventually, the banks had to provide some information about their expenditure. One significant use of the bailout money was to pay off debts. Many banks had large loans from other financial institutions that they need