First Republic was "doing fine" two months ago. And this is not a "panic" either. It's not a socially caused problem, it's that they and many other banks are over stretched enormously beyond being able to cover their deposits, because finance these days is a hilarious shell game that doesn't stand up to scrutiny.
First Republic was "doing fine" two months ago. And this is not a "panic" either. It's not a socially caused problem, it's that they and many other banks are over stretched enormously beyond being able to cover their deposits, because finance these days is a hilarious shell game that doesn't stand up to scrutiny.
SVB was the first of many.
You should bet on that. Go open short positions, I'll open buy positions.
The crisis is contained unless the media continues to fan the flames like they did to FRC.
First Republic's customers will end up with PacWest after the receivership, and that will be the end of it.
I've been betting on it for a decade. I buy gold, ammo and MREs.
Now is probably a good time to sell gold, it's near the all time high IIRC.
Pretty close yes. But the point of buying gold is to have real money, not to trade it for fiat currency that is useful solely as toilet paper.
Until the next one fails.
And then the one after that.
And the one after that, etc, etc.
Also that's weird, it deleted my comment and then posted it again after I thought I had to retype it. Mobile computing is such a shit show.