Numerous RISKS for SA banks | Jonathan Katzenellenbogen
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- čas přidán 27. 08. 2024
- Internationally a number of banks have experienced more pressure recently. Jonathan Katzenellenbogen joins Chris Hattingh to discuss the state of banks in South Africa, and whether a crunch or crisis could develop here.
Article: dailyfriend.co...
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Thank you for informing the public. Much appreciated!
I suppose you know about the recent "cash crisis" in Nigeria. It seems to have been orchestrated to force the nation to switch to a digital payment system.
Some of the elites were allowed to enter a Nigerian bank and take out money, while ordinary citizens were prevented from doing the same.
Similar is happening in Kenya. Next South Africa?
ah yes.....those banks that pay their directors obscene bonuses every year
Deposits in banks always carries risk contrary to popular belief. Most large banks maintain less than 10% capital reserve of their total liabilities (peoples bank deposits) and will never survive a serious run on the bank. Simply put for every R100 in the bank, they have circa R10 or less to pay your money back. They have lent out the rest and would need to realise those assets to pay depositors back...
Agreed, and that's in line with the globally adopted "Modern Money Mechanics", a document published by the Federal Reserve Bank of Chicago.
This system is floored, and perpetuates an economic slavery for the masses. The Banks have since adopted a "God Like" complex in that they can create money out of thin air, and subsequently lend it out to the consumer, with interest.
It was at this this point that I realized that, even all the principal debt was paid back (in the entire world), where exactly would the actual, physical money come from to pay back the interest.........???
And I have not even mentioned the "evil" of inflation yet....................
One big Ponzi scheme! Fractional reserve banking is a farce! Buy BTC!
❤ Vusi is the embodiment of the modern, patriotic yet secular, inspirational and thoughtful South African. His succinct words are a testament to his genuine love and understanding of the current state of affairs. Vusi for president 🎉
Bank collapse / bank bail-in going on in the US not reported on main stream media with banks buying gold to beef up their reserves against a declining dollar surely should affect our banks in SA. Are we safe or we will see what is happening in Nigeria. Transparency pls.
What’s new .. after trying several times to pay via Payfast and Ozou for goods from Takealot, I gave up and added the order to my next city trip list. Not good for any of them or me. I am 99% off the grid. Sign of the disconnect that load shedding brings.🤔
:(
That's one worry I don't have, a rather bittersweet situation.
To what degree are depositors funds guaranteed by the state, should one or more banks experience a liquidity crisis? In the US it is pegged at $250000.
Part of the problem in the SVB scenario was that some depositors had in excess of that amount in short-term deposits; i.e. payroll funds that need access too at month end. A substantial portion of the SA economy consists of SMME's that rely on access to funds in short order. Should a major bank fail and depositors funds are not secured by the state, it would have massive implications for the health of the economy. With rising interest rates those with excessive debit could get into trouble; i.e. wide spread mortgage defaults... Which eventually brought down Lehman Brothers.
Given what is happening in the US economy, being a member of BRICS could quite possibly be good for the SA economy. Or am I way off?
@@corinnevanjaarsveldt6087 Unfortunately a world where a small country like SA can remain completely self sustaining is long gone. The 1% of the world, who manipulate and control just about everything, would simply never allow it to happen. Globalization is the buzzword of the past decade or so. As individuals we just get swept along in the current. Freedom of choice really is a myth in reality.
Embrace the great reset
What happens of the US kicks SA out of the Agoa agreement and our food prices start to rise? Social instability?
@@ghostwriter991 it's so crazy. I'm from the USA and months ago I heard from a DAVOS meeting that THEY were calling for a restructuring of the global economy.
@@dedetudor. shit been planned for millennium agenda 21 so many have tried to warn is from myron fagan (1950) to alan watt (2020 rip)the question is what is the solution
You forgot Saambou bank which went under.
Tiny hats
NBS too 🦜
ChatGPT Video Summary (basic prompt)
The video discusses the possibility of a banking crisis in South Africa and different types of banking crises. The speaker mentions that one of the reasons for bank bailouts is to ensure that the payment system continues to function, as without a payment system, the economy would come to a halt. The speaker also refers to previous banking crises, such as the 2008 Lehman Brothers crisis, and mentions the banking crises in Portugal, Ireland, Greece, Spain, and Iceland that were combined with a debt crisis. The speaker highlights the risk of bonds in South African banks, with a significant portion of their total assets being in government bonds, and the potential impact of external factors such as rising interest rates or signs of bank failure in the US or elsewhere on these bonds. The role of the Reserve Bank in maintaining liquidity in the bond markets is also mentioned.
What about June status and our view on supporting Russia / China etc
been running Volkskas/ABSA/FNB every payday, for the last 38 years...
Is it not the case that the Daily Fiend and the IRR, are US State Department / CIA fronts, used to manipulate SA public opinion.
It's almost impossible for the private individual to buy SA Government Bonds.
Who wants to buy SA Government Bonds?!
Too risky
Actually extremely easy, you can even buy them at checkers.
@@kierenvanderhaar6329 Are they in the same aisle as the toilet rolls?
Let's first talk about the corruption going on in SA Banks
Is there any chance there will be a bail-in instead of a bail-out?
When the ship starts to sink then it's time to bail out ou Pal.
Thank you for shedding light on an issue I myself had pondered recently without resolution. My question is what is the outlook for banking stocks given the risks outlined. I had not had an opportunity to read tge gentleman's article, but surely those holding bank stock had cause for concern. I know I have digressed somewhat.
My question is that,do is our money in the banks insured in case such disaster happens
No your money is not insured. It's at own risk standard bank will investigate for months just to tell u they will pay a small portion of what u lost out. Or not pay anything at all .
With SA joining Brics.....I see a huge problem coming plus total control!!
The US does a lot more medalling in countries internal affairs than China does. No democracy is safe from the machinations of the great plutocratic oligarchy - the USA.
We have lot of qualified candidates out there who went to Universities but they are not working, they should be there in parliament taking good decisions that's won't only benefit them while the country is suffering. This BRICS thing is not for South Africa. Maybe SA was better before 1994, yes it was not good emotionally mostly but our parents never suffered to get jobs and food unlike now.
@@happymsimango6032 I lived through Apartheid. I saw the mass unemployment and hunger, especially in the homelands. You are too ready to believe the DA/US/MSM propaganda.
BRICS is means to free ourselves from US domination and exploitation. Watch/read Janis Varoufakis exposure of how the USA rips off the rest of the world.
The DA is a malign toxic evil that must be eliminated from SA political life, if we are to save our democracy and prosper.
WHY IS THIS NOT BEING WATCHED BY EVERYONE
Makes the takedown even easier
Mainstream media not reporting
gay
This guy makes comments on the SA banking sector but doesnt not even look at the banks financials? Wtf 😂 🤣 😂
Banks hold bonds because the regulator instructed them to, inked in the regulations.
So how are normal people or how do we hedge on this upcoming crisis. Do we still have a chance to survive?
GOLD SILVER BTC
@@ax4178 Not gold bro, trust me.
It's quite concerning, we might have to reconsider our great great great great grandfathers bartering system. It's a pity that most our generation think that food comes from the supermarkets 😢
Than thay was us!!!
agree with you
Deposit out of the bank is called withdrawal.
a global banking crisis
👀
Dear HeinRich. I'm about to buy RSA bonds and your comment to someone was: Who wants to buy SA Government Bonds?! Please answer what to do with my cash in banks. I am retired and Old Mutual provides ny pensioen. I no very little about financing. Please assist.
Best to contact a financial advisor Mr Vw
Nothing good on news.
Xrp ... Xlm
Thank you for informing I always change my money into bitcoin and I will save all my salary to bitcoin then I will start buying groceries at pick and pay
It is a Communist Plot... Hah. Cos, Capitalism can do without Communism, but Communism can't do without Capitalusm... Hah Just go Figure...