The Banking Crisis In A Nutshell

We are standing on the edge of a precipice or at least crawling on the edge of a straight razor. Listen Pause and Reflect on Professor Richard Wolff's ingenious observations! The economy is failing big time. It's time to wake up!

 

This is why I keep my accounts under $250K and spread among different insured banks.

 

Listen pause and reflect on the views of the most idiotic fool since MArx.

then watch a looney tunes cartoon from decades ago. They are a little smarter

 

Whatever happens, happens. We are all kind of screwed if there is wide-spread bank failures because the currency people does have will be worthless one way or the other.

 

Richard David Wolff (born April 1, 1942) is an American Marxian economist known for his work on economic methodology and class analysis.
School or tradition: Marxian economics
Born: Richard David Wolff; April 1, 1942 (age 8...
Contributions: Marxian economics; ‎Economic ...‎
Spouse: Harriet Fraad
‎Wilhelm Wolff · ‎Harriet Fraad · ‎Marxian economics · ‎Rethinking Marxism

https://en.wikipedia.org/wiki/Richard_D._Wolff

 

It appears you are having a hard time getting people to consume this product.

 

Just curious, can you name a few of the banks? Is TD one of them? I've been looking to move some funds around but not very savvy

 

Much of the bank situation can be understood, specifically the Fed's actions, if we take into account the problems associated with runs on banks and realize that the modern internet can spread fear quite efficiently. There are many people who get their information from limited internet sites and don't necessarily check what they read.

Regards, stay safe 'n well.

 

Too many folks are busy posting anti-Trump threads to pay attention to the banking crisis.

 

Yes, a "Marxian Economist" and maybe Tucker Carson would shriek "capitalism failed" because a bank went under. It happens, and most people didn't even notice.

 

and everyone ran to Gold and Bitcoin to protect themselves

 

Gold was $1867 and now its $1961, more like 4% rise, so your chart stretched the facts a little, but its ok, people do panic and invest elsewhere, but looks like this was not quite a "crises" after all.

 

No, the chart shows the levels I gave are correct. The low in Gold 3 weeks ago was $1810 and it did rally last week to $2014, at least that is the case in the April contact.

 

Why 3 weeks when the issue happened last week? That's what I mean by streaching. Same with Bitcoin, - it has been going up for months now (+50% in 6 months), not just because of that bank failure. Why? Because it crashed from $47K to $16K very quickly and now its coming up again.

 

Dire predictions can travel around the world twice before actual news can take three steps. People have always thought the times they were living in were the most critical of all times. Since December I have been buying into a mutual fund on a weekly basis. Folks, get in while the Market is down. The DJIA has been over 36,000 and when it goes back I'll make a killing. Happy days are here again.

 

Bit coin = "there's a sucker born every minute".

 

I think a lot of it is that the Bank was holding a lot of very low interest bonds and when the interest rates came up to fight inflation, it was a matter of time. I still don't think the stress test would have saved the bank, delay the inevitable for a year or so, but nothing more.

 

Why don't you let the data speak for itself as opposed to running with commentary someone added?

Bitcoin price Nov 2022 $15 760
Bitcoin price Feb 2023 $24 800

That's almost 40% hike before the bank collapse. Why would you believe someone in the internet telling you it moved 'sideways' aka nowhere during that time? And even your source admits the recent hike begun 2 weeks BEFORE anything happened with that bank. You are being played,

 

Some banks will always fail -- because they gamble and lose. Inept managers. Same thing happens to some people. Remember the guy who drove to Vegas in a $95,000 Lexus and came home in a $500,000 Greyhound bus.

 

You have no idea of who I am or what I do, do you?

I have been a chart analyst for 47 years. I was trained by Merrill Lynch and Prudential-Bache in the 80's and was one (of 3) of the official chart analysts for the Southeast U.S. for Pru-Bache in 1984. I was one (of 3) that gave all the investors of Pru-Bache in the SouthEast the chart information that was offered by the company to their thousands of investors. I gave chart information on everything from commodities, indexes, energy and stocks For the past 16 years I have had my own chart service where I read and study charts and give recommendations of what to do to investors that have subscribed. I am considered to be a chart expert (among the top 1% in the world). I am the one that tells other people what is happening, not the other way (as you have stated in this post). No one tells me anything. I am the one doing the telling and people follow what I say.

I also trade for myself and do it exclusively off of charts. I have a public track record where I show 12 profitable years and only 3 losing years and 2 of those losing years were in my own trading account due to the fact that I got married to an idea and did not follow my own chart exit points and ended up taking a bigger loss than what the charts said I should take. If I had not done that, 14 of the past 15 years would have all been profitable.

You understand now?



I have built a strong reputation in the industry as a very good chart analyst as I have proven that every year for the past 16 years, having been successful in generating a profit trading for myself and for those that have subscribed to my service.

 

I don't care what you claim to be, because you post stuff that is totally misleading, and even flat out false. You claimed Bitcoin has been going sideways, when the exact opposite if true. If you are a "chart analyst" when how do you get it so wrong?

And yet here you are posting analyses that is totally wrong. If you tell your clients or your employee the same stuff you post here, then I am very surprised you still have a job.

Let me ask again, - is nearly 40% gain in 4 months 'going sideways', and since that has been the trend for 4 months, then how do you credit it to the bank failure 1 week ago?

 

In the second week of June of last year (2022), Bitcoin generated a weekly close at 21485 and on the first week of March of this year, Bitcoin generated a close at 20538. That is a period of 9+ months in which Bitcoin did not do anything of consequence (traded sideways). It is now 2 weeks later and Bitcoin is trading at 28300 and the bank failure was reported on March 10th. Let's see, 9 months doing nothing, on March 6th Bitcoin was at 20538, on March 10th the bank failure was reported, and now March 22, it is trading 28% higher. Does the time frames clear up your vision?

As far as getting things "WRONG", it is you that is getting things wrong. Numbers don't lie.

 

Let this sink in before you claim it has been goin sideways until the bank issue last week.

Bitcoin price Nov 2022 $15 760
Bitcoin price Feb 2023 $24 800

That's almost 40% hike before the bank collapse. That kind of swing it the exact opposite of "doing nothing".

Yes, numbers do not lie, but sure as hell people with an agenda want to misrepresent them, like you are doing right now for whatever reason.

 

It really all depends on what kind of a trend you are talking about. If it is the long-term trend, the trend remains down and it will remain a downtrend until Bitcoin generates a weekly close (Sundays) above 31559. On a midterm, the trend was sideways until March 10th when the breakout occurred with a weekly close above 24225. It is now on a midterm uptrend but if it generates a weekly close below 24425, the mid-term uptrend will end. Bitcoin got into a short-term uptrend after it closed above 18978 on the first week of January but because of the bank failure, it went from a short-term uptrend to a midterm uptrend.

Evidently and as far as trends are concerned, a long-term trend is the most important and dependable, a midterm uptrend is a positive but only indicative for a period of 3-6 months, and a short-term trend is only good for 1-3 months and it really is not all that indicative for the overall health of the product.

As such, the "definition" of the type of trend it is in is important.

In the case of Bitcoin, the moment the Dollar started to weaken, back in the second week in November, Bitcoin started to give signs of recovery as the low in Bitcoin at 15501 was made in the 2nd week of November.

All of this is tied in with the Fed raising interest rates to fight inflation. Raising rates weakens Bitcoin and lowering them, strengthens it.