Banking Crisis

[Dr Christopher Cheok C S]

Switzerland - Credit Suisse Wouldn't Have Lasted Another Day
https://www.bloomberg.com/news/arti...ouldn-t-have-lasted-another-day-minister-says

Germany - Deutsche Bank shares plunge in renewed bout of stress
https://www.businesstimes.com.sg/companies-markets/deutsche-bank-shares-plunge-renewed-bout-stress

Spain - Bank of Spain sees turmoil rising funding costs, requiring liquidity sourcing review
https://www.reuters.com/business/fi...equiring-liquidity-sourcing-review-2023-03-28

China - Global Banking Woes Put Spotlight on China’s Regional Lenders
https://www.bloomberg.com/news/arti...oes-put-spotlight-on-china-s-regional-lenders

US - Jay Powell and Janet Yellen struggle to calm nerves in banking crisis
https://www.ft.com/content/a4ed406e-d0ba-4027-8029-700e94393ac8

 

[Dr Christopher Cheok C S]

Banking Crisis Raises Concerns About Hidden Leverage in the System
https://www.bloomberg.com/news/arti...-concerns-about-hidden-leverage-in-the-system

 

[blackmondy]

The entire banking system is a well-coordinated, well-greased international scam with a built-in Ponzi scheme with a nice name called fractional reserves.
Now the lid has been lifted for all to see what's happening under the bonnet.
I believe most banks here are insured for up to $50K. In other words, if you have 1-million deposited in your bank and it goes kaput, you will only receive 50K. Your other 950K is 打水漂.

 

[Dr Christopher Cheok C S]

Five banks in France raided
https://apnews.com/article/france-banks-raids-tax-e9d39ad6409803258e4ff9d1368760a7

 

[Dr Christopher Cheok C S]

 

[Dr Christopher Cheok C S]

UBS CEO resigned
https://nltimes.nl/2023/03/29/ralph-hamers-stepping-ceo-swiss-bank-ubs

 

[Dr Christopher Cheok C S]

 

[syed putra]

My got!
This guy predicted that banks will lock your money in more than a year ago. You will not get your money back.

 

[Dr Christopher Cheok C S]

Switzerland parliament rejects Credit Suisse rescue deal
https://www.reuters.com/business/fi...kage-rejected-by-swiss-parliament-2023-04-12/

 

[syed putra]

Deutsche bank next?

 

[blackmondy]

As long as our sperm banks aren't affected, we still good.

 

[Dr Christopher Cheok C S]

As long as our sperm banks aren't affected, we still good.

this one is different. You may people to take your deposits.

 

[ChinaCommunistSG]

I am worried if our cpf is a scam

 

[Dr Christopher Cheok C S]

Top US Banks to Reveal $521 Billion Deposit Drop, Most in Decade​

https://finance.yahoo.com/news/top-us-banks-reveal-521-110000702.html

 

[Dr Christopher Cheok C S]

I am worried if our cpf is a scam

CPF is tricky.

HDB loan should be higher than 2.6% now. However, if they dare to raise the loan interest, they ought to pay you more for your CPF balance. To make up for this catch-22, I believe Singapore will need to hike CPF contribution rates or increase the retirement minimum sum.

 

[blackmondy]

I am worried if our cpf is a scam

Mei-mei you worry too late.

 

[liamricci]

They will get over it. Crisis is a part of the development , there is nothing we can do about it.
I recently discussed with the united bank customer service https://www.pissedconsumer.com/company/united-bank/customer-service.html exactly that topic and they assured me that there is nothing to worry about. Those huge bank will be always there for us, no matter how bad it can get for them from time to time.

 

[Reaper]

All ponzi schemes will come to an end. Austrian guy said so.