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Coronavirus- Bank runs & bail ins


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So the Coronavirus black swan has landed, we spotted that one weeks in advance, which gave some of us time to get the jump on the bog roll shortage.

I would like to get the HPC hive mind to discuss the likelyhood of a bank run and a 2013 Cyprus 2 week style bank holiday - with complimentary bail in that George Osbourne sneakily put in that years budget but no one in the mainstream mentioned.
 

Should we be stuffing cash under the mattress and if so, how much?

Edited by LetsBuild
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I've quite smarty hidden £5000 in a Virgin Disney holiday I'm unlikely to be able to go on (paid on a CC for safety) - can't swipe it if I haven't got it back yet :) Although by the time it's returned it'll probably only buy a pint of milk and a bog roll.

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My personal take is this.

 

Following on from 2008 and also the general panic relating to Corona, they won't totally let a single bank go down.

 

Obviously though, as they give everything in sight a bailout whether they really need it or not, eventually that is going to affect the currency (well actually it already has).

 

I think I would worry about the whole country going bust in a few years time rather than an individual bank.

 

Having said that, they might start trying novel approaches like a one off tax of 10% on all bank assets over £20k for example.

Edited by reddog
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  • 417 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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