Silvergate, Silicon, Signature & now Credit Suisse.
Moody’s downgrades banking sector outlook, puts 6 on watch list ,warned it could similarly downgrade First Republic Bank, Zions, Western Alliance, Comerica, UMB Financial and Intrust Financial. The firm cited the “extremely volatile funding conditions for some US banks exposed to the risk of uninsured deposit outflows.”
@aox You literally cannot name a worse solution to hedging in a bad economy than precious metals. Neither gold nor silver have ever appreciated in real terms against inflation. Buy a house and finance it at the lowest interest rate possible. If you already have one buy another and rent it. If you can’t swing either buy a g-n and a years worth of MREs.
In the Carter 1970’s an ounce of gold was worth three average American cars. Today it’s worth a really nice meal for four good friends.
And this is a “store of value?”
Golf Silver and Precious metals
Don’t see any crypto involvement in these collapses. Where do you see this?
Anybody knows how can we donate our stonk RSUs to do the needful for Robin’s ESG Davos friends?
BNYM is a sleepy Custody Bank that any fool can run. But now we apparently have that fool and after Davos and ESG Robin fancies himself as a traditional banker.
BNYM has no business, no knowledge of and no reason to help in bailing out overextended traditional banks. We’ve never had a real Economist or a real C.F.O. because we are a fee based custody bank and we don’t need either.
And now we’re going to help out in the bailouts of four banks? That’s insane.
Does Robin look in the mirror and see Jamie Dimon or something?
BNYM now help to bail First Republic. Is this just the starter?
Common denominator is focusing on woke ideology rather than making the business better for its employees, investors, and customers
As I said (Headlined) in another post. "Here we come again 2008", Except this time the Fed can do nothing to forestall this. I recommend buying Precious metals.
https://www.theweek.in/news/biz-tech/2023/03/15/robert-kiyosaki-who-predicted-collapse-of-lehman-brothers-believes-credit-suisse-will-crash-next.html
“extremely volatile funding conditions for some US banks exposed to the risk of uninsured deposit outflows.”
Some banks may be heavily invested in bonds, then crypto.
I believe the common denominator is crypto (scam from day one).