Myanmar cash crisis taking heavy toll

truffledog · Post by **truffledog** » Sat May 15, 2021 2:42 pm

Intereresting read:

https://www.bangkokpost.com/world/21162 ... heavy-toll

How long before the system collapses in Myanmar ? Could the same happen in Cambodia too?

xandreu · Post by **xandreu** » Sat May 15, 2021 4:08 pm

truffledog wrote: ↑Sat May 15, 2021 2:42 pm Intereresting read:

https://www.bangkokpost.com/world/21162 ... heavy-toll

How long before the system collapses in Myanmar ? Could the same happen in Cambodia too?

The main difference being that Myanmar has been embroiled in a state of civil war for the past 100 day, with one of the main aims of the protestors being to cause as much mayhem to the country and economy as possible, so as to make it practically ungovernable.

Looks to me as if it might be working.

Spigzy · Post by **Spigzy** » Sat May 15, 2021 5:48 pm

Interestingly no mention of Wave money, Myanmar's equivalent of Wing in Cambodia (and set up by the same gent who set up Wing here in 2007. with volumes that make Wing here look like a peanut vs a coconut due to the population dynamic). They are going great guns, the same as Wing here during lockdown being the one reliable source of cash in pretty much every commune.

Bitcoin taking over the world? No chance just yet, mobile money has some serious legs on it & more disruptive, yet complementary, to banks than any crypto ... and I hold crypto, I'm not a nay-sayer

newkidontheblock · Post by **newkidontheblock** » Sat May 15, 2021 8:38 pm

When things go down the toilet, cash is king.

For me keeping a cash reserve of a few months on hand is just like the 3-6 month emergency fund in case of job loss.

However Myanmar is different. Sadly things will not return to normal in a few weeks. Country is probably descending into civil war, or at least into a state of persistent rebellion.

Apollo91881 · Post by **Apollo91881** » Sat May 15, 2021 10:54 pm

Wait until we have another Carrington Event. I wonder what happens to digital currency then.