The current “banking crisis” is not over. Other banks here and abroad are under scrutiny. I would be surprised if there were not further closures.
Here is a specific heads up. Moody’s rating service put 6 U.S. banks on review for downgrades: First Republic Bank, Western Alliance Bancorp., Intrust Financial Corp., UMB Financial Corp., Zions Bancorp. and Comerica Inc.
And European banking giant Credit Suisse has just lost 25% of it’s value and is still falling as I write this (5 am Wed Mar 15).
Things to do:
- Buy some precious metals (gold and or silver bullion coins). If you already own some, buy some more.
- I would stay away from bonds.
- Subscribe to my newsletter if you are not currently a subscriber. I follow the economy and the banking industry closely (including the coming digital currency in bank accounts.)
- If you want me to do an in depth review of your bank’s safety send me an email to email@example.com. I charge for this service – it takes some time and expertise. I charge $250 for a bank safety analysis and $375 if you also want a recommendation for a safer bank.
Keep your powder dry
John Truman Wolfe