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Bank Run & Financial collapse coming? (Coronavirus induced)


Jesus Wept
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Hi all

I started the THREAD: ‘Pandemic coming? Wuhan’ in mid January. I knew what was coming. 

I believe that it is uncontainable and that it will spread through 70% of the globe.

However I now believe that the ‘cure is worse than the disease’.

The actions taking by government will keep the world in paralysis for many months to come.

It will inevitably lead to a financial collapse.

I can ‘smell’ that BANK RUNS around the world are just around the corner. 

This ‘Financial Armageddon’ is uncontainable - it is already ‘baked in’. 

Protect yourselves. 

DEUTSCHE BANK has lost 95% of its value. 
 

6F69E0E5-A383-476B-90DE-5CFC61DB33FC.jpeg

Edited by Vendetta
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20 minutes ago, choochoo said:

Does that mean more debt is good and I should just run up my credit cards to the max?

Bond market collapse 

Bank runs

Dash to assets

Currency destruction

Hyperinflationary depression 

 

Debt at a long fixed rate is what you need.

Gold and assets would be better. 

 

Edited by Vendetta
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8 minutes ago, Bedrag Justesen said:

You can't go wrong with bricks and mortar.

Admittedly that is the most ‘convenient’ asset for most people. It has a high level of ‘utility’. 
 

It is in a ‘bubble’ but will at least not be subject to the destruction that is currency. 

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15 minutes ago, Vendetta said:

Bond market collapse 

Bank runs

Dash to assets

Hyperinflationary depression 

 

Debt at a long fixed rate is what you need.

Gold and assets would be better. 

 

Can't see a mechanism for hyperinflation. 

All this can be remedied by adding numbers to balance sheets like they did in 2008. QE the shit out of it. 

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A tremendous # on the lung

I've been wondering how this will play out. It's going to have to be some sort of central bank helicopter money to businesses and the population. Possibly debt cancellation. Will have to be a global response

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MrLibertyRedux
18 minutes ago, Vendetta said:

Bond market collapse 

Bank runs

Dash to assets

Currency destruction

Hyperinflationary depression 

 

Debt at a long fixed rate is what you need.

Gold and assets would be better. 

 

Does this mean I should stock up on groceries?

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Bedrag Justesen
6 minutes ago, Vendetta said:

It is in a ‘bubble’ but will at least not be subject to the destruction that is currency. 

What should we do with cash depending on where it is  ?

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Frank Hovis
Just now, Poseidon said:

Can't see a mechanism for hyperinflation. 

All this can be remedied by adding numbers to balance sheets like they did in 2008. QE the shit out of it. 

Yup.

Nothing new to see here and Deutsche Bank has been bust since the GFC; it's just becoming harder to conceal.

Cash will take the hit as it always does; wait to see what China sets as its growth target if you want to know the outcome for certain.

Bloomberg article 7 March:
 

Quote

 

While still fighting a health emergency, President Xi Jinping’s government now also has to decide how much to spend and on what, mindful of the risks long posed by a large debt burden and the declining usefulness of yet more new roads and railways. Much will also depend on whether it wants to preserve the growth target of “about 6%” it was originally expected to set within the Great Hall.

If it does keep aiming high then a scale of stimulus not seen since the 4 trillion yuan ($577 billion) wave after the Great Recession will be required. That would likely help support slumping global growth too.

 

https://www.bloomberg.com/news/articles/2020-03-07/world-economy-watches-and-waits-for-china-s-great-reboot

 

 

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Bank runs?

Only 30% of UK housing has finance on it. That's mainly people who are immune from the virus.

Oap are flush with cash n benefits, mainly younger peoples hard earned.

3 minutes ago, Frank Hovis said:

Yup.

Nothing new to see here and Deutsche Bank has been bust since the GFC; it's just becoming harder to conceal.

Cash will take the hit as it always does; wait to see what China sets as its growth target if you want to know the outcome for certain.

Bloomberg article 7 March:
 

https://www.bloomberg.com/news/articles/2020-03-07/world-economy-watches-and-waits-for-china-s-great-reboot

 

 

Chinas economy and reputation is royally fucked now.

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5 minutes ago, MrLibertyRedux said:

Does this mean I should stock up on groceries?

Only toilet roll.

For the inevitable brown trouser moments.

6 minutes ago, Bedrag Justesen said:

What should we do with cash depending on where it is  ?

It tends to be very high in fibre?

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27 minutes ago, Vendetta said:

Bond market collapse 

Bank runs

Dash to assets

Currency destruction

Hyperinflationary depression 

 

Debt at a long fixed rate is what you need.

Gold and assets would be better. 

 

Do you have CGNAO locked away in your cellar?.

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27 minutes ago, Poseidon said:

Can't see a mechanism for hyperinflation. 

All this can be remedied by adding numbers to balance sheets like they did in 2008. QE the shit out of it. 

“..... adding numbers to balance sheets and QE the shit out of it.....”

There’s your mechanism right there....

.....and they will do it. 

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Bedrag Justesen
11 minutes ago, BBH said:

I've been wondering how this will play out. It's going to have to be some sort of central bank helicopter money to businesses and the population. Possibly debt cancellation. 

Before debt cancellation occurs it could be prudent to separate debts from assets into discrete financial organisations.

Check mortgages, loans, credit card balances are not outstanding with the same banks or building societies you have savings accounts or ISAs etc.

Check accounts with separate  brands are not with the same group. For example, Halifax and Bank of Scotland, or First Direct and HSBC.

Accounts which combine everything in one place such as First Direct One should be avoided.

If debt cancellation happens you don't want your savings to reduce the amount of your cancelled debts.

I was sceptical of this happening but as we have seen already with the housing market anything is possible now.

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3 minutes ago, Vendetta said:

“..... adding numbers to balance sheets and QE the shit out of it.....”

There’s your mechanism right there....

.....and they will do it. 

QE is to prevent deflationary collapse (which is all modern economics is about these days).  The minute inflation starts to creep up they can squeeze the QE down.  Its not printy printy as people like to think, if it was you may have a point. 

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1 hour ago, Bedrag Justesen said:

What should we do with cash depending on where it is  ?

I've got about £25 in my Betfair account. What to do?

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1 hour ago, BBH said:

Can we have a thread about war too please? I think it's going to happen

 

23 minutes ago, Southmartin said:

The more I look into this, the more confident I am in saying that at think CV is the starting engine for the multi-generational economic reset we've all been expecting since the GFC 12 years ago

I think both of these are true and a war is coming 

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MrLibertyRedux

Choo-choos now wanting a bailout

https://www.bbc.co.uk/news/business-51896169

The government is in talks with rail bosses to put emergency measures in place to deal with falling passenger numbers after the coronavirus outbreak.

Some train operators were already losing money but fewer fares will put even more pressure on their finances.

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Chewing Grass
1 minute ago, MrLibertyRedux said:

Choo-choos now wanting a bailout

https://www.bbc.co.uk/news/business-51896169

The government is in talks with rail bosses to put emergency measures in place to deal with falling passenger numbers after the coronavirus outbreak.

Some train operators were already losing money but fewer fares will put even more pressure on their finances.

No, re-nationalise the fuckers.

When this is over they can be re-privatised for cash.

Think of other Industries, rinse & repeat.

All these businesses that are risk averse to their cash position should be fucked over.

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