If the central bank pops the biggest bubble in history by raising interest rates and triggering a depression (which is the easy way out of this mess compared to hyperinflation), then the banks may collapse due the number of people defaulting on their mortgages.
In general this is good news for people that have lots of cash savings and no debt, as the value of your fiat currency will increase due to deflation. IF YOU CAN ACTUALLY GET YOUR MONEY!
If banks are on the verge of collapse they may trigger a "bail-in" where they take a portion of depositors money and use it to keep the bank alive. This is the opposite of a "bail-out" where the central bank prints a bunch of currency and loans it to the banks at cheap rates to keep them alive (2008 GFC). They may also stop withdrawals to prevent a bank run.
If you anticipate hyperinflation get yo money out and buy real shit like precious metals, property, or commodities. Perhaps even crypto. The currency will go to zero and die.
If you anticipate deflation (depression/recession) pay off all your debts, get your money out of the bank and put it under your mattress. Once the dust has settled use mattress money to buy real shit at heavy discount.
If white hats get their way I anticipate deflation to save the national currency. If black hats get their way I anticipate hyperinflation to destroy the national currency and usher in some new social credit based digital currency.
If you have money there, take it out like they say. But you probably don't, because it's a new (relatively speaking) bank that never got big enough to make money.
They didn't lose the money; instead they decided not to keep trying to break into the business. The funds are guaranteed by the Aussie banking regulators. If you have money there and don't take it out, it will be harder to withdraw after the date they specify, but you'll get it when all is said and done.
If the central bank pops the biggest bubble in history by raising interest rates and triggering a depression (which is the easy way out of this mess compared to hyperinflation), then the banks may collapse due the number of people defaulting on their mortgages.
In general this is good news for people that have lots of cash savings and no debt, as the value of your fiat currency will increase due to deflation. IF YOU CAN ACTUALLY GET YOUR MONEY!
If banks are on the verge of collapse they may trigger a "bail-in" where they take a portion of depositors money and use it to keep the bank alive. This is the opposite of a "bail-out" where the central bank prints a bunch of currency and loans it to the banks at cheap rates to keep them alive (2008 GFC). They may also stop withdrawals to prevent a bank run.
If you anticipate hyperinflation get yo money out and buy real shit like precious metals, property, or commodities. Perhaps even crypto. The currency will go to zero and die.
If you anticipate deflation (depression/recession) pay off all your debts, get your money out of the bank and put it under your mattress. Once the dust has settled use mattress money to buy real shit at heavy discount.
If white hats get their way I anticipate deflation to save the national currency. If black hats get their way I anticipate hyperinflation to destroy the national currency and usher in some new social credit based digital currency.
Have money put into both scenarios
What happens then? Do people ever get the kids moey they have in the bank? I have no idea how this works?
Apparently only 6000 customers.
So not a big deal.
Any bankingfags out there so as to advise?
If you have money there, take it out like they say. But you probably don't, because it's a new (relatively speaking) bank that never got big enough to make money.
They didn't lose the money; instead they decided not to keep trying to break into the business. The funds are guaranteed by the Aussie banking regulators. If you have money there and don't take it out, it will be harder to withdraw after the date they specify, but you'll get it when all is said and done.
I dont, but that is a good explanation.
Gamestop claims another one.
Ruh roh...... banks failing.....
Let the tendies hit the floor
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