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Post by SA Hunter on Aug 13, 2019 23:10:34 GMT 10
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Post by Joey on Aug 14, 2019 12:01:45 GMT 10
Careful, them coming out and saying that just might cause a rush on the banks and watch the recession roll in faster as everybody pulls their cash and stops spending
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spatial
Senior Member
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Post by spatial on Aug 14, 2019 22:23:09 GMT 10
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Post by spinifex on Aug 15, 2019 7:56:22 GMT 10
Was there much freezing of bank accounts across the world in 2008?
I think what I learned back then was that the wonders of the digital age make it possible for central banks to immediately, and at no real cost to themselves, inject as much 'currency' into commercial banks as is necessary to keep the system running. Back then it was an experiment. Now its SOP.
It was different in the pre-digital age as there was a considerable effort required to print and distribute a physical replacement.
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blueshoes
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Location: Regional Dan-istan
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Post by blueshoes on Aug 15, 2019 9:35:53 GMT 10
True, they shouldn't need to close banks to distribute hard currency...
... bu-ut if they decide to enforce a bail in there won't be advance notice more than there already is
Edit... actually why would they bail in by taking deposits, that would make the mess worse. "Printing" money would help increase exports by devaluing the dollar, causing inflation and reducing the scale of debt?
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frostbite
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Post by frostbite on Aug 15, 2019 10:35:30 GMT 10
I think the Greeks had access to their savings accounts frozen for a while, with severe restrictions on how much they could withdraw.
I don't keep much money in the bank these days. It's all safely stashed in cash, preps and real estate.
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Post by Joey on Aug 15, 2019 11:26:56 GMT 10
From what I heard on the radio this morning is that it's just as cheap now for government to borrow money over 10yrs instead of the usual 2yrs and they said that the last few times this has happened a full recession followed between 6-12 mths later
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