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MoneyGPT: AI and the Threat to the Global Economy

Book by James Rickards · 2 quotes · Ai, Machine Learning, Financial Risk

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MoneyGPT: AI and the Threat to the Global Economy Quotes

“... Why do bank runs commence? The answer is psychology period some customers or counterparties come to believe a bank will not repay them so they pull their money out or close transactions as quickly as possible. They are not reassured by ... Press releases or positive comments by management. Word spreads, the withdrawals accelerate, and within days, sometimes hours, the bank closes its doors. From there it's an open issue whether the lost confidence spreads to other banks, in a process called contagion. No amount of capital or comment can stop a bank panic; it has a life of its own.”

PsychologyFinancePanicBanking SystemBanksFinancial RiskFinance Capital
Book:MoneyGPT: AI and the Threat to the Global Economy
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“... why do bank runs commence? The answer is psychology. Some customers or counterparties come to believe a bank will not repay them so they pull their money out or close transactions as quickly as possible. They are not reassured by ... press releases or positive comments by management. Word spreads, the withdrawals accelerate, and within days, sometimes hours, the bank closes its doors. From there it's an open issue whether the lost confidence spreads to other banks, in a process called contagion. No amount of capital or comment can stop a bank panic; it has a life of its own.”

PsychologyFinancePanicBanking SystemBanksFinancial RiskFinance Capital
Book:MoneyGPT: AI and the Threat to the Global Economy
Create image