I see people now wanting to move their cash away from smaller banks… kind of worrying.
What do you think will happen to the US banks in the coming months? If you’re in the U.S., does this also worry you?
IMO, there is no doubt that many US human lemmings will move their money away from banks, and maybe into gold. For me, trading the Asian session, worth a XAU/USD 1905 buying venture with a S/L 1890 and a long T/P at 1960 max.
Disclaimer: that is just my chart reading at 09.00 Bangkok time.
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Which, itself, can cause a bank to fail. If people don’t want the bank to fail, they should leave their money in the bank.
However, if a bank is doing bad and everyone else is taking their money out, you might be the sucker whose money is used to pay for their liquidation.
If I had $5,000 in the bank, what are the odds I’ll get my money back? It’s not much to them, but it’s a lot to me.