Bank run imminent

All money is issued as debt. It's value is created by a signature. Debt accrues interest. There will never be enough money in the economy to pay back the debt.

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I like how they're trying to blame it on WhatsApp users like they're some shady gang of miscreants rather than the fact that the bank has lost hundreds of millions of £s

>Sir, people are worried about the falling share price and missing money
>Shit. Tell the media that it's WhatsApp users to blame for spreading false users
>WTF? Will that work
>Yeah, media will protect us and the public are fucking idiots anyways

The bank itself, not very, afaik. I think its collapse was a big deal because no British Bank had a bank run in about 150 years. That record has obviously been broken, along with the aura of invincibility for British banking, so Metro Bank being hit by a run won't be quite so traumatic.

>New bank with no assets
>Spend millions on lavish interiors for each branch

Metro Bank is a racket. They could offer exactly the same service with small non-frills branches. I assume the CEOs wife has a bother who owns the company that supplies the excessive architecture.

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>Not putting your entire networth in BTC

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>put 100$ in bank, bank has 100$
>bank lends 100$ to someone, bank has 0$
>someone pays back 120$, bank has 120$
>withdraw 100$ from bank, bank has 20$

basically if somewhere there goes wrong the bank is screwed. normal countries have laws against such operations

Banks get near-free money from the BoE.
They're printing money like crazy to keep both the banks and government from imploding.
Banks still almost imploding with OCEANS of free money available.
The whole economy is an illusion

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>normal countries have laws against such operations
Most countries abide by Basel II, which basically equates to 8% reserve. So organisations licensed as banks in those companies, to use your example, can do this:
>$100 deposited, bank has $100
>banks lends $92, holds $8 in reserve
>borrower repays $100
>withdraw $100, bank has $8

If you withdraw prior to the loan being repaid, the bank just borrows bulk amounts from another bank. Banks fix up the ledger with each other very night. If they can't borrow from each other they just borrow from the central bank.

Central banking is the key piece that is designed to protect against bank runs.

Fractional reserve banking.

Like what
is saying.

For the last few hundred years banks have been allowed take the deposits of their customers and loan them to other people or invest them on the stock market in order to make more money. However, to do this they still have to legally keep 10-20% of the deposits on hand so that people can withdraw money and whatnot. But if the bank loses all of the deposits on loan defaults or bad investments or everyone just wants their money now, then the bank is no longer able to cover deposit withdrawals and goes bankrupt and your deposit usually just vanishes when the bank liquidates and pays all its assets out to the corps and highrollers first.

That's why a lot of banks often won't let you shift all of your money at once or withdraw too much cash - they literally do not have your money anymore.

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It doesn't work like this Kamil. Banks are forced, by law, to keep a reserve.
As of 2019 our banks for instance are required to keep 3,5% of all deposits as reserve.

Anyone else remember the last time Jow Forums tried to predict a bank run? One that was suppossed to be orchestrated by the yellow jackets, who even warned the banks ahead of t8me (because reasons? And nothing happened?
None of you joined my “I told you so” thread last time

Thank you

Imagine believing this is how banking works

funds are safu

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>I assume the CEOs wife has a bother who owns the company that supplies the excessive architecture.
No, it's literally the CEO's wife: theguardian.com/business/2018/apr/24/metro-bank-founder-vernon-hill-sees-off-shareholder-revolt

>Shareholder Royal London Asset Management had said ahead of Tuesday’s annual meeting that it would vote against Vernon Hill’s re-election as chairman after the bank paid £4.5m last year to Shirley Hill’s firm InterArch for design and marketing services. Investment adviser Glass Lewis also criticised the arrangement, under which InterArch has received £21m in total from the bank since 2010, saying it created a potential conflict of interest.

Wow, thanks for that

This is great when you owe a lot since it gets liquidated

This is why we need cashless societies

Cant trust the French to do anything right

I remember when some AT machines in Europe went down and Jow Forums freaked out.

Depends on the laws and how the liquidation progresses. A lot of them time the administrators will sell the bank's outstanding loans as assets to other banks and debt collectors for chump change. A lot of international banks got reemed during the subprime meltdown when liquidating banks sold off their sub-prime loans that end up being so toxic that they weren't even worth the small amount of cash they were bought for.

Yes the solution is definitely to remove people's autonomy over their own money

When you're tens of thousands in debt, what financial freedom do you have?

Collapse imminent

that's a ponzi scheme, banking as it now should be illegal

They loan out more money than they actually have because they anticipate never having to pay out all of their funds at once.

I don't have much savings, but I've moved a lot of it over to paypal.
Banks apparently can't be trusted with holding my cash.

i invested my money in buttcoin am I safe?

>lavish interiors
would you buy from a salesman that shows up in a new BMW or a salesman that shows up in a backfiring rustbucket?
you have to inspire confidence in your clients

Banks still have 10 times as much as government each year. That's how capitalism works. In Socialism workers owned the money cashes, so that's what they fear the most. Jews always have to have 10 times more than anybody in charge of country.

>bank run can kill any bank in the world
the banks will just take your money. they legally can.

depends on your currency, USD is not controlled by government, its the federal reserve

they control how much they print out of it, controls what banks they lend to and how much they will loan to them, which in turn dictates what kind of interest rates and eligibility requirements youll get from the banks, they *try* to control every aspect of it, our market and economy is about as natural as D cup tits on a linebacker

government is so broke it aint funny

Fractional reserve banking is literally fraud and I hate this gay system. I asked my banking father-in-law about about the fed and fractional reserve and all the things you see on here and he confirmed it's true. Not even meming when I brought it up he said "you have a good grasp on just how fragile everything is" which sounds like the affirmative of "if only you knew how bad everything is"

It's an ugly shit bank that is super fucking American in the way it looks because it's owned by the international mutt. Go to any high street in England and it sticks out like a sore thumb among all the normal banks in old buildings

It's not, because wealth is not a constant.

Should have kept their money in bitcoin

Its all a a scam. They loan out like 20x as much as they take in. That being said money is not real. It's all just numbers in computers. All the banks are in collusion and if other banks wanted to step in and cover the temporary shortfall they could. This just scratches the surface of it. It's all truly black magic.

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budget.gov.au/2016-17/content/glossies/overview/html/overview-13.htm
>Total revenue for 2016-17 is expected to be $416.9 billion

>picture related financial sector has 8 trillion

Australian banks have 20 times as much money at disposal as government of Australia. So voting for political parties is pointless.

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