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[Varche]

Here is one to maybe get the conspiracy theorists going.

Governments are going to be cash strapped very soon from baling out failing airlines and a host of other worthies. No tax revenues coming in so where will the money come from.?

One answer is your bank account if it has more than £ 8320 in it.. the frozen account would have course be re instated at a future  very distant date  after  the economies get going again.

The precedent has been set with I think Cyprus during the banking crisis. Might be time to stuff biscuit tins.

[Doctor Gollum]

Don't you have access to Netflix or a book? Facebook isn't news, or accurate 

[STEMO]

I've seen this nonsense pop up before. By someone else who stays up half the night looking at shite on the internet.

[Doctor Gollum]

Dow Jones value:

March 14th, 2008... 11,951.09
March 13th, 2009... 6,507.04

February 12th, 2020... 29,551.42
March 16th, 2020... 20,182.52

Hardly an oppsing fire sale

[STEMO]

This irresponsible nonsense is the kind of stuff that adds to the feeling of panic sweeping the nation. A run on the banks is just what we need right now.

[Doctor Gollum]

Couldn't agree more

[aaronjb]

This irresponsible nonsense is the kind of stuff that adds to the feeling of panic sweeping the nation. A run on the banks is just what we need right now.

Sorry, what was that? I couldn't hear you over the noise of all these note counters running after I took all my money out of the bank... 

[Rangie]

I'll stash my millions in the spare room alongside the 300,000 toilet rolls, why do people believe this utter shite?

[Andy B]

....

One answer is your bank account if it has more than £ 8320 in it.. the frozen account would have course be re instated at a future  very distant date  after  the economies get going again. ....

I'll be OK then ..... 

[Viral_Jim]

Also, the post is based on the assumption that if everyone wanted their money from the bank (any bank) that they could have it. Money in a private bank is not sat around somewhere doing nothing, waiting to be withdrawn. It's off being lent to a business, or as part of someone's mortgage etc. That's how bankers make their millions.

In the scenario the OP describes, chances are the central bank would (figuratively) print some more money,  doubtless funded by more borrowing from cash-rich nations (China, middle East, Norway, to name just 3).

[STEMO]

Also, the post is based on the assumption that if everyone wanted their money from the bank (any bank) that they could have it. Money in a private bank is not sat around somewhere doing nothing, waiting to be withdrawn. It's off being lent to a business, or as part of someone's mortgage etc. That's how bankers make their millions.

In the scenario the OP describes, chances are the central bank would (figuratively) print some more money,  doubtless funded by more borrowing from cash-rich nations (China, middle East, Norway, to name just 3).

Or just print some more money and not borrow from cash rich nations, thus putting inflation up to 1970's levels.

[deviator]

Don't stockpile cash, it's dangerous. It might be stolen and also it's another fire hazard with those 4000 bog rolls lying around.

If you are worried about your cash, write a cheque out to Coronavirus Antibody Specialist Hospital or C.A.S.H. for short. Send the cheques to me and I'll sort it out for you 

[Rods2]

Fiat currencies like USD, GBP can be printed in Buzz Lightyear's words 'to infinity & beyond' as long as credibility is strong enough to sustain it. USD as the globe's reserve currency, definitely, GBP almost certainly where they are both very, very strong, stable, safe haven in a storm currencies.

The Euro is in a poor place as only half a currency with unwritten-off 2008 zombie bank debts, pretending to be worth something to stop many Eurozone banks being insolvent & needing bailouts.

Serial failure & convicted criminal Christine Legarde in charge of the ECB caused market jitters last week with her crass statement on widening Italian bond yields where Italy in not the EU's country of the month at the moment.

[STEMO]

Don't stockpile cash, it's dangerous. It might be stolen and also it's another fire hazard with those 4000 bog rolls lying around.

If you are worried about your cash, write a cheque out to Coronavirus Antibody Specialist Hospital or C.A.S.H. for short. Send the cheques to me and I'll sort it out for you 

That sounds like a fantastic idea 
Email me your name, address, bank account number and sort code, mother's maiden name and login credentials and I'll put the money straight into your account.

[Rangie]

Don't stockpile cash, it's dangerous. It might be stolen and also it's another fire hazard with those 4000 bog rolls lying around.

If you are worried about your cash, write a cheque out to Coronavirus Antibody Specialist Hospital or C.A.S.H. for short. Send the cheques to me and I'll sort it out for you 

That sounds like a fantastic idea 
Email me your name, address, bank account number and sort code, mother's maiden name and login credentials and I'll put the money straight into your account.

.   


Sounds like this could possibly be one of those scams I've read about..😃