Buffett says more bank failures are likely but depositors are safe

Bloomberg/Max Reyes/4-12-2023

“Dumb decisions by bank managers shouldn’t be panicking the whole citizenry of the United States about something they don’t need to be panicked about.” – Warren Buffett, Berkshire Hathaway

USAGOLD note: The sage of Omaga has dumped the entirety of his bank stock position except for Bank of America – a bank that has consistently registered a bullish viewpoint on gold. (Please see the Daily Gold Market Report above.)