this is courtesy of real estate bubble.
https://www.youtube.com/watch?v=i6UpcyYd2hQ
[SIZE=4]Money deposited in the bank is evaporating, China’s financial crisis is approaching…[/SIZE]
Pia huku tuko pabaya. Our banks saving ndio zina fund gavament loans. Saa hii nyasore one haendei loan majuu. Ile siku utamuua kutoa pesa zetu kwa bank. Bank zitaanguka.
Ule jamma wa long live xi hawezi onekana hapa
The most indebted real estate company in the world called Evergrande in China has debts of $400 mbirrions and can’t pay. Tunakula kienyu kia ngima na maziwa tukijionea hii kisaga
Ngima nene na matharo
People who have put all their savings in the banking system forget that the bank can limit your access at anytime especially during a crisis (Greece). Always have alternative forms of banking.
Imagine paying a mortgage for an apartment under construction then the developer has financial issues, stops the project, and the banks expect you to continue paying :D:D:D I feel bad for these guys
How else should we keep our savings? Mattress banking ama?
Ngoja uambiwo crypto
This what happened to Suraya customers?
There are online banking alternatives, money market funds, crypto, and having highly liquid assets. In case of a major market crash in Kenya you can have ways of accessing capital outside the local banking system.
yu wili oun natzink andi yu wili pi hapi.
Online banking is just banking incase of a crash they will just lock your account. For money market funds the monies are still tied to a custodian bank (mark that), crypto you still need a banking channel to access the funds. In other words I still don’t know where else to keep my money.
If you keep money for instance on mpesa, if CBA and KCB which are the custodian banks for mpesa go down you will surely be in trouble too.
We posted the Evergrande issue a while back, and the usual character was up in arms telling us China wasn’t US, and that The China Communist Party would sought out the mess.
China being a dictorship, and a country that oppresses freedom of press, it’s very hard to tell the extent of the financial mess there in currently.
There isn’t any safe alternative out there, crypto currencies are still tied to the dollar and other currencies.
Think China is trying to avoid the too big to fail mess that caused the 08 crisis. Creates a very bad precedence for large corporates that there will always be govt money when shit hits the fan. Remember Ant Group had to be split from Alibaba as they were growing too big
Whenever I read on here that China will soon surpass the US, I’m in awe. As much as some (most) hate the US, they have mitigated this risk.
“The Federal Deposit Insurance Corp. B is the agency that insures deposits at member banks in case of a bank failure[/B]. FDIC insurance is backed by the full faith and credit of the U.S. government. The FDIC insures up to $250,000 per depositor, per FDIC-insured bank, per ownership category.”
Hawa IMF and world bank huambia Amerika kile watafanya and obviously Amerika also owes them money
Ati online banking alternatives? Just a bank in fancy terms
China is full of anesthetics, but once you scratch past, you start seeing different realities.