Our Gold Guy
No Result
View All Result
Wednesday, May 31, 2023
  • Home
  • Finance
  • Business
  • Economy
  • Politics
  • Contact Us
Our Gold Guy
  • Home
  • Finance
  • Business
  • Economy
  • Politics
  • Contact Us
No Result
View All Result
Our Gold Guy
No Result
View All Result
Home Finance

The Five Stages of Bank Failure Grief

by Doug French
May 21, 2023
in Finance
Bank Failure

The talking heads on financial TV ask everyday where we are in the banking crisis. Is it over yet? After scooping up First Republic, JP Morgan’s Jamie Dimon said, “This part of the crisis is over.” After he said that, however, the shares of regional banks such as PacWest, Zions, and Western Alliance were cut in half. The market doesn’t believe Mr. Dimon.

Elisabeth Kübler-Ross described five stages of grief: denial, anger, bargaining, depression, and acceptance. ‎On Twitter, describing the typical timeline for a banking crisis, Real Vision’s Raoul Pal posted:

It’s one bad apple,

Well maybe it’s just a few

“Banks remain strong”

It’s the evil short sellers (we are considering a ban)

Ok, now we are banning shorts

Oh, seems that didn’t work

Cut rates

That didn’t work

Panic

Change . . .

Kübler-Ross’s denial stage would include Pal’s “one bad apple,” “just a few,” and “Banks remain strong.” The anger stage would be “evil short sellers,” “banning shorts,” and it “seems that didn’t work.” The bargaining stage would be “Cut rates” and “That didn’t work.” Depression would be “Panic,” with “Change” being the acceptance stage.

We clearly appear to be only in the anger stage. Kimberly Adams writes for Marketplace:

The American Bankers Association is laying some of the blame for that at the feet of short sellers trying to scare people into thinking banks are about to go under so that the stock price falls and they can profit. On Thursday, the ABA sent a letter to the Securities and Exchange Commission asking the agency to look into the issue. . . .

“We’ve been in constant communication with our members, and they’ve shared with us their concerns, including engagement that they’ve seen on social media,” said Naomi Camper, chief policy officer at the ABA. “And many believe that their shares have been manipulated by short sellers. They’re seeing trading in their shares that defy the underlying fundamentals, and they’re worried about it.”

During the Q and A at Berkshire Hathaway’s annual meeting televised by CNBC, Warren Buffett mentioned a bank stock short-selling ban. Reuters reports that Wachtell, Lipton, Rosen & Katz, a law firm that has represented large companies, said in a letter to clients that “the Securities and Exchange Commission (SEC) should regulate what it defined as ‘coordinated short attacks’ by imposing a 15-trading day prohibition on short sales of financial institutions.”

The Biden economy has decimated wealth and retirement accounts and things will continue to get worse until at least after the 2024 election. It behooves patriots to acquire physical gold and silver or make the move to self-directed precious metals IRAs from an America-First company that does not donate to Democrats. Contact Our Gold Guy, Ira Bershatsky, for the personal buying experience.

Taking the other side of the argument is longtime bank analyst Dick Bove. Bloomberg reports: “‘The funds and others who are shorting bank stocks are doing the American public a meaningful service,’ analyst Bove said in a note. ‘They are winnowing the banking industry and forcing these companies to stabilize their financial statements.’”

Bove is right. The average depositor can’t make heads or tails of their bank’s financial statements. At least short sellers give John and Jane Q. Public a heads-up about their banks. Bank regulators are like the fire department, the hook and ladder doesn’t arrive until a house is fully inflamed.

If it plays out the way Mr. Pal believes, a couple more banks will fail, the Securities and Exchange Commission will impose a short-selling ban, and then a few more banks will fail. Then, it will be time for a Federal Reserve rate cut.

Reuters reports that the Fed futures market is factoring in a more than 70 percent chance of a rate cut at the Fed’s September meeting.

This summer may be an interesting one.

Our Gold Guy America First

About the Author

Douglas French is President Emeritus of the Mises Institute, author of Early Speculative Bubbles & Increases in the Money Supply, and author of Walk Away: The Rise and Fall of the Home-Ownership Myth. He received his master’s degree in economics from UNLV, studying under both Professor Murray Rothbard and Professor Hans-Hermann Hoppe.

Article cross-posted from Mises.

The Biden Regime and Globalists Don’t Want You Owning Precious Metals

Look around. Things aren’t the way they should be. Between Pandemic Panic Theater, Ukraine, food shortages, and a push for Central Bank Digital Currencies, everything you’ve spent your life building and protecting is in jeopardy.

Precious metals are historically the most reliable and safest hedge against economic turmoil. With the Biden regime and globalists enhancing the chaos, it’s important for patriotic Americans to take control of their financial future.

Ira Bershatsky offers consultations to those who want to invest in precious metals. During these consultations, he will match your current financial situation with the best physical precious metal purchases whether you want to rollover your IRA or have coins discreetly shipped to your home. You will not talk to a telemarketer or sales rep. You will talk to a true expert in precious metals with decades of experience helping people protect and advance their wealth.

Fill out the form here and we will schedule a precious metals consultation with Our Gold Guy, Ira.

Schedule a Precious Metals Consultation Today:

Tags: Bank CrisisBankingBanking CollapseEconomyLedeMisesMoneyTop Story


Learn more about RevenueStripe...

Bypass Big Tech Censors



Our Gold Guy



MyPatriotSupply


Housing ESG

Biden’s New Intersectionality: Where Equity Policies Meet Bad Economics

May 31, 2023
McCarthy Biden

‘Buy the Dip’ Takes on Special Meaning With Debt Ceiling Elimination

May 29, 2023
Joe Biden Kevin McCarthy

House Freedom Caucus Sounds Alarm on Debt Ceiling Agreement

May 28, 2023

Recent News

Housing ESG

Biden’s New Intersectionality: Where Equity Policies Meet Bad Economics

May 31, 2023

Search

No Result
View All Result

Site Navigation

  • Home
  • Contact Us
  • Finance
  • Business
  • Economy
  • Politics

About Our Gold Guy

This site is dedicated to helping Americans learn more about the economy, business, and politics. Our nation is in turmoil on all three fronts. We want to make a difference.

© 2021 NOQ Report

No Result
View All Result
  • Contact Us
  • Finance
  • Business
  • Economy
  • Politics
  • Contact Us

© 2021 NOQ Report

Session expired

Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.

>