time to withdraw money from financial institutions here now?
Re: time to withdraw money from financial institutions here now?
With a ripple effect
Despite what angsta states, it’s clear from reading through his posts that angsta supports the free FreePalestine movement.
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Username Taken
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Re: time to withdraw money from financial institutions here now?
Everyone should panic!
Take all your money out of the bank and buy Bitcoin. Now!
Take all your money out of the bank and buy Bitcoin. Now!
Re: time to withdraw money from financial institutions here now?
I think Cambodian banks will hardly experience any effect from this, other than a general loss in trust in banks. Nothing new there, Cambodians' trust in the banks wasn't that high to begin with.
The yield on Western State loans was so low Cambodian banks would rather lend their money out locally against a local collateral, or deposit it at the National Bank of Cambodia. So they're hardly exposed to the risk of their long term state loans losing value.
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armchairlawyer
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Re: time to withdraw money from financial institutions here now?
The SVB issues are inapplicable to Cambodia. IMHO the main issues facing Cambodian banks and MFIs are a USD shortage (thus the recent increases in deposit interest rates) and the stonkingly high loan to deposit ratios.
The most common cause of bank faliures globally over the years has been commercial real estate lending. That can bring a bank down fast. I advise people here to avoid banks with large CRE exposure. And limit total deposits here to 2% of your total investable wealth.
The lack of a government guaranteed deposit scheme like FDIC is irrelevant. If there were major problems, there wouldn't be sufficient money to redeem USD deposits in any case.
The most common cause of bank faliures globally over the years has been commercial real estate lending. That can bring a bank down fast. I advise people here to avoid banks with large CRE exposure. And limit total deposits here to 2% of your total investable wealth.
The lack of a government guaranteed deposit scheme like FDIC is irrelevant. If there were major problems, there wouldn't be sufficient money to redeem USD deposits in any case.
Re: time to withdraw money from financial institutions here now?
That could be a hard ask given the number of abandoned/failed construction projects littered across the country..armchairlawyer wrote: ↑Thu Mar 16, 2023 11:07 am I advise people here to avoid banks with large CRE exposure.
Where is the "Bitcoin fixes this" idiot when you need him?!
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
Re: time to withdraw money from financial institutions here now?
Yep. Silvergate Bank was one of the three banks recently shuttered, and they invested heavily in crypto and cryptocurrency exchanges.
Re: time to withdraw money from financial institutions here now?
When in doubt, ask ChatGPT!
ChatGPT's answer to the question: "How badly was Cambodia affected by the 2008 banking crisis?"
Cambodia was not significantly affected by the 2008 global banking crisis, as its financial system was relatively insulated from the turmoil that hit developed economies. This was due to several factors, including the fact that Cambodia's financial system was not very developed at the time, and that the country had relatively little exposure to the subprime mortgages and complex financial instruments that triggered the crisis.
In addition, Cambodia's economy is heavily reliant on agriculture and manufacturing, rather than financial services, which further insulated it from the effects of the crisis. While the crisis did lead to a slowdown in global trade and investment, Cambodia's economy continued to grow, albeit at a slower pace than in previous years.
That being said, the crisis did have some indirect effects on Cambodia. For example, it led to a decline in demand for Cambodian exports, which hurt the country's manufacturing sector. In addition, some Cambodian banks faced difficulties due to their exposure to foreign banks that were affected by the crisis. However, these effects were relatively minor compared to the impact of the crisis on other countries.
And it's answer to the question: "How badly would a global banking crisis similar to the 2008 banking crisis affect Cambodia?"
A global banking crisis similar to the 2008 crisis would likely have a more significant impact on Cambodia's economy than the previous crisis, although the extent of the impact would depend on a variety of factors.
One potential impact would be a decline in demand for Cambodia's exports, particularly from developed economies, which could lead to a slowdown in the country's manufacturing and agricultural sectors. This would be particularly problematic as these sectors are the main drivers of Cambodia's economic growth.
In addition, a global banking crisis could have a significant impact on Cambodia's financial sector, particularly if it leads to a decline in global investor confidence. This could lead to a reduction in foreign direct investment and a contraction in credit availability, making it harder for businesses to access the financing they need to operate and grow.
Furthermore, a global banking crisis could lead to a decrease in remittances from Cambodians working abroad, which would negatively impact the country's balance of payments and overall economic stability.
Overall, while Cambodia may be less exposed to the direct effects of a global banking crisis than some other countries, it would still be vulnerable to the indirect effects of such a crisis, particularly through its dependence on trade and foreign investment.
ChatGPT's answer to the question: "How badly was Cambodia affected by the 2008 banking crisis?"
Cambodia was not significantly affected by the 2008 global banking crisis, as its financial system was relatively insulated from the turmoil that hit developed economies. This was due to several factors, including the fact that Cambodia's financial system was not very developed at the time, and that the country had relatively little exposure to the subprime mortgages and complex financial instruments that triggered the crisis.
In addition, Cambodia's economy is heavily reliant on agriculture and manufacturing, rather than financial services, which further insulated it from the effects of the crisis. While the crisis did lead to a slowdown in global trade and investment, Cambodia's economy continued to grow, albeit at a slower pace than in previous years.
That being said, the crisis did have some indirect effects on Cambodia. For example, it led to a decline in demand for Cambodian exports, which hurt the country's manufacturing sector. In addition, some Cambodian banks faced difficulties due to their exposure to foreign banks that were affected by the crisis. However, these effects were relatively minor compared to the impact of the crisis on other countries.
And it's answer to the question: "How badly would a global banking crisis similar to the 2008 banking crisis affect Cambodia?"
A global banking crisis similar to the 2008 crisis would likely have a more significant impact on Cambodia's economy than the previous crisis, although the extent of the impact would depend on a variety of factors.
One potential impact would be a decline in demand for Cambodia's exports, particularly from developed economies, which could lead to a slowdown in the country's manufacturing and agricultural sectors. This would be particularly problematic as these sectors are the main drivers of Cambodia's economic growth.
In addition, a global banking crisis could have a significant impact on Cambodia's financial sector, particularly if it leads to a decline in global investor confidence. This could lead to a reduction in foreign direct investment and a contraction in credit availability, making it harder for businesses to access the financing they need to operate and grow.
Furthermore, a global banking crisis could lead to a decrease in remittances from Cambodians working abroad, which would negatively impact the country's balance of payments and overall economic stability.
Overall, while Cambodia may be less exposed to the direct effects of a global banking crisis than some other countries, it would still be vulnerable to the indirect effects of such a crisis, particularly through its dependence on trade and foreign investment.
The difference between animals and humans is that animals would never allow the dumb ones to lead the pack.
Re: time to withdraw money from financial institutions here now?
I don't believe there is or will be a crises in the United States or anywhere else. When Wells Fargo, Chase, Bank of America, etc., go under, then you have a legitimate reason to worry.
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daeum_tnaot
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Re: time to withdraw money from financial institutions here now?
Which banks have large CRE exposure? Or how does one find out?armchairlawyer wrote: ↑Thu Mar 16, 2023 11:07 am The SVB issues are inapplicable to Cambodia. IMHO the main issues facing Cambodian banks and MFIs are a USD shortage (thus the recent increases in deposit interest rates) and the stonkingly high loan to deposit ratios.
The most common cause of bank faliures globally over the years has been commercial real estate lending. That can bring a bank down fast. I advise people here to avoid banks with large CRE exposure. And limit total deposits here to 2% of your total investable wealth.
The lack of a government guaranteed deposit scheme like FDIC is irrelevant. If there were major problems, there wouldn't be sufficient money to redeem USD deposits in any case.
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