Its only good sense that RMS protect assets. In the GFC there was a run on the CBA , I was there at Glenelg south Australia and watched them tell people to come back tomorrow. I heard the report on the radio and went down to witness the events unfold. It was widely censored in the Media.. I then advised a director to spit company deposits between different banks to protect funds.
China had a run on banks in 2022. Many people lost everything in 2022 and this has gathered momentum which is why the banks in china are running out of gold. The Chinese are losing faith in the banking system.
Pre 2008 I was predicting a stock market crash pre 2008 because we were Highly leveraged and now its worst.. Our foolish government is bailing out steel manufactures to the tune of 14 billion, paying housing deposits., lowering interest rates, subsidizing energy.. Those factors indicates a strong environment for credit crisis. I don't know how this will play out but the banking sector could be under threat.
Summary I believe we could suffer a financial crisis which causes the population to lose faith in the banking system. RMS should keep much of its wealth in Gold instead of the banking sector.
RMS Price at posting:
$2.74 Sentiment: Hold Disclosure: Held
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