Top U.S. Banks Downgraded!

Banks are under stress, and even some of the TOP names just got downgraded.

Check this out:

🚨 Regional Banks downgraded S&P Global ratings…👀$SPY $QQQ pic.twitter.com/N6ptcatmxO

— 🅰️tØⓂ️i☪️Apę (@All_In_AMC) August 22, 2023

Reuters just reported:

Shares of several U.S. banks fell on Tuesday, the day after ratings agency S&P Global followed Moody’s in cutting its credit ratings on some regional lenders with high commercial real estate (CRE) exposure.

S&P’s action will make borrowing more costly for a banking sector aiming to recover from a crisis earlier this year, when three regional lenders failed, prompting broader industry turmoil.

“Some of the structural aspects for banks, regarding their balance sheet, remain risks to banks, as the Fed continues to try to anchor inflation with higher rates for longer,” said David Wagner, portfolio manager at Aptus Capital Advisors.

When banks like Silicon Valley Bank failed in the spring, interest in physical gold and silver began skyrocketing. So many Americans moved retirement accounts to precious metals that some companies had a hard time keeping up with demand.

Genesis Gold Group a faith-driven precious metals company, has been able to keep up with demand because their executives anticipated the surge (plus, working with them through this link and the links below benefits WLTReport).

It isn’t just individuals who are making moves — central banks have been on a gold-buying spree for months. China and Russia have been moving toward gold and silver. Even U.S. states like Tennessee have made moves to allow the treasury to buy precious metals to back the state’s holdings.

Here is chart of central bank net sales/purchases since 2010 – note the increase in the last three quarters:

Genesis Gold Group has been helping regular people make a similar move.

They assist people who want to back their IRAs with physical precious metals. And they only work with physical gold and silver because it can be stored on the customer’s behalf in a depository.

Genesis Gold Group customers can physically see their precious metals at their convenience. And when it comes time to take a disbursement, they can convert to cash or have their precious metals shipped directly to their homes.

Click here to reach out today through genesiswlt.com.

While other gold and silver companies have struggled to secure metals for their clients in a timely manner, Genesis Gold Group has leveraged their relationships to seamlessly keep the flow of wealth going into their customers’ depositories. By rolling over any of the various types of retirement accounts their customers currently have, Genesis Gold Group has simplified the process of securing the life’s savings of countless Americans.

Genesis Gold Group was given 5 stars by reviewers on the Better Business Bureau website. Here is what some of them say:

“With the downward turn in the market, I have been wanting to transfer my IRA to gold/precious metals. I am so happy that I came across Genesis Gold Group. They made the process seamless . . . They have knowledge, care, and patience with newbies, like me. They kept me informed along the way and reached out several times to see if I had any questions or concerns. I highly recommend them to anyone interested in investing in precious metals.”

“They made it so easy to transfer part of the funds out of my company 401K to set up a precious metals IRA. Everyone I’ve dealt with there is friendly and knowledgeable.”

“The people at Genesis Gold Group have been very helpful to get my 401k from stocks and bonds to silver coins on deposit. They are patient and explained each step and answered my numerous questions along the way.”

If it’s time to protect with physical precious metals backing a self-directed IRA:

Visit genesiswlt.com today.

Note: Thank you for supporting American businesses like the one from our partner above and publishers like WLTReport. We appreciate your support!  The information provided by WLTReport or any related communications is for informational purposes only and should not be considered as financial advice. WLTReport does not provide personalized investment, financial, or legal advice.