Bingo π―
This is not a new idea.
βCyprus, 2013: Uninsured deposits bank bail-in.
βBrazil, 1990: savings frozen for 18 months.
βArgentina, 2001β2002: Accounts frozen; dollars forcibly converted.
βMexico, 1982: Dollar deposits converted at official rate. (Haircut)
βSoviet Russia, 1917β1918: Banks nationalized; deposits seized.
βVietnam, 1975: Bank branches and deposits confiscated.ββββββββββββββββββββββββββββββββββββββββββββββββββ
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Replies (4)
The name of the game is bail-ins
That is a great point. I consulted grok and was given this:
Brazil, 1990: Savings frozen to fight hyperinflation.
β’ Argentina, 2001β2002: Freeze and forced peso conversion after peg collapse.
β’ Mexico, 1982: Dollar deposits converted amid peso crisis.
β’ Bolivia, 1982: Forced conversion during currency collapse.
β’ Peru, 1985: Dollar deposits converted in hyperinflation crisis.
β’ Japan, 1946: Deposits frozen after wartime inflation.ββββββββββββββββββββββββββββββββββββββββββββββββββ
Bulgaria also 1999. and not sure what year but yugosavia had one too late 90s i think
Argentinians still talk of the coralito. And you mention Cyprus but afterwards, they went for the entirety of Greece. One great regret from post 2008 was not taking a screenshot of 1yr bond yield for greece when they got used to bail out Deutsche bank. It's been scrubbed so good luck hunting for it but there is one thing you can still find. Look at the change in debt that Greece had over 2 years. Ask yourself how the speed was achieved. 1yr bonds at up to slightly over 100% interest forced on them by eu. Happy for anyone not to believ me on seeing it but you can just look at their debt burden and get a calculator