Do you know who Jim Rickards is? Are you familiar with “bail-in “?
You must have quite the resume to call Jim a moron.
Unless I'm misunderstanding something, he seems to be saying that depositors at SVB can somehow come ahead if they stop making loan payments to a bank where they have been forced to take an ownership stake.
Maybe I'm the moron.
And it's 2023, dude. After what I've seen for the last three years, an extensive resume doesn't impress me anymore.