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.
Doing the Weimar shuffle.
Let's just ignore that Western Alliance, PacWest and all the others are doing fine.
First Republic was a casualty of SIVB panic, largely pushed by the media.
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.