₦airaland Forum

rvp20182:
In a month I can predict a bank run on Ghana banks and their collapse.
Banks operate on trust.
On trust that your money is safe and you can take it anytime.
That is CARDINAL

Your prediction has no economical backup , so it is illogical. The bank has been strengthen to withstand the mess that may arise .


Dollar account is separate issue in banking system. . No country will allow a multiplier effect on her economy when it can easily be curb.

We know the drill.
We saw in Lebanon, Sri Lanka, Argentina, Greece, Zim, Zambia.
The next thing within a month is bank restricting how much you can withdraw
Next will be Ghanians wailing infront of banks

The domino effect is not started.

vaxx:
Your prediction has no economical backup , so it is illogical. The bank has been strengthen to withstand the mess that may arise .


Dollar account is separate issue in banking system. . No country will allow a multiplier effect on her economy when it can easily be curb.

Nakuru city

Nakuru city - 150kms from Nairobi towards the west.

rvp20182:
We know the drill.
We saw in Lebanon, Sri Lanka, Argentina, Greece, Zim, Zambia.
The next thing within a month is bank restricting how much you can withdraw
Next will be Ghanians wailing infront of banks

The domino effect is not started.

Your mumu no too much . Even in Europe , there is limit to cash withdrawal, how much more feable africa .

No limit if you walk to the bank. Limit on ATM.

vaxx:
Your mumu no too much . Even in Europe , there is limit to cash withdrawal, how much more feable africa .

rvp20182:
No limit if you walk to the bank. Limit on ATM.

it is more to do with cash at hand than demand . Country with more high financial backup even have a limit on cash withdrawal daily . If you must go above their set standard . Be prepared to come up with more documents .


You really learn foolishly

Ghana's second biggest bank, GCB Bank, has been downgraded by international rating agency, Moody to Ca...JUNK

The next drama is on your banking industry

vaxx:
it is more to do with cash at hand than demand . Country with more high financial backup even have a limit on cash withdrawal daily . If you must go above their set standard . Be prepared to come up with more documents .


You really learn foolishly

rvp20182:
Ghana's second biggest bank, GCB Bank, has been downgraded by international rating agency, Moody to Ca...JUNK

The next drama is on your banking industry

I don't know what you mean by bigger , but if it is about asset , GCB actually have the highest asset among Ghana bank not second slowpoke.


Just like how kenya is not spare of downgrading , the stanbic kenya and co. Whatever financial mess that is happening here , it is triple in kenya .


You can run but can't hide

All kenyan banks J am aware of have A+ rating.

vaxx:
I don't know what you mean by bigger , but if it is about asset , GCB actually have the highest asset among Ghana bank not second slowpoke.


Just like how kenya is not spare of downgrading , the stanbic kenya and co. Whatever financial mess that is happening here , it is triple in kenya .


You can't run but can hide

rvp20182:
All kenyan banks J am aware of have A+ rating.

Then Begin your goggle check , instead of digging about Ghana financial crisis , learn about your financial mess up first.

Start from stanbic kenya, that is a free knowledge .

rvp20182:
Ghana. Banking crisis starts. Sobbing Women here claims to have gone to withdraw 2,500 cedis...her bank only allowed her 250 cedis.
https://twitter.com/GhanaSocialU/status/1599709957003235329

And it get interesting - the pensions, AG of Ghana and pretty much reject the unilateral decision to force them to take losses

You're really desperate oo
Everyone is withdrawing what ever amount of money they want without problems because the banks are highly liquid.

Even Mobile money transaction on the banking platform alone is 1.4 Trillion Cedis That is more than the size of Kenya economy

Now let me deal with your issues.

There's something in bonds contract called "Exit Consent" and this allows the Sovereign to issue new bonds to replace old ones that had zero to negative rates because of market conditions.
Exit Consent means everything was a consensus so there's nothing like unilateral.
Ofcourse there are outliers who will feel aggrieved.
In the bond market, we call them "Holdout" Creditors

It's pretty normal.... I know these things sound new to you but don't take my word for it, you can read it for yourself in the attachment.

How does a Sovereign deal with Holdout Creditors ( you may ask)
There's an international bond code call "Stay of Creditors legal remedies" but this is too harsh so holdout creditors usually return to the amended non payment clauses in their old bond agreement like The financial Covenant or Waiver of Sovereign Immunity.


Say yes sir, Master, I understand now

This is free education oo, you're doing your PhD here

popizaino:
Trust the mad cow to come here and deflect to Kenya topics. This is a Nigerian saying the same thing you have been telling the mad cow but like the typical timid Ghanaian he is,he will never own up to this obvious hopeless situation Ghana is currently in, but keep clutching at every straw available. Since he has sworn never to agree with you,i will keep posting screenshot that agrees with you to keep exposing his foolishness.

The person you posted is as dumb as yourself

There's nothing like no credit risk when it comes to bonds, many people think it is a risk free investment vehicle because their investment houses usually hide it from them and just like this guy expressing a dumb opinion on bonds, so are you also posting a stupid empty comment like a he goat.

Read the attachment, it's from Australia...
If you understand it, you'll know it's similar

Market approach to bond yields carry a risk that can be beneficial to creditors when inflation keeps going down and they enjoy it a lot but it can also be beneficial to the Sovereign when inflation is going up because yields will have to drop.

You can also thank me for the free financial education... Now you can run to your banker to enquire of your risk exposure.

rvp20182:
The mad cow is wasting his time and energy fighting FACTS.
Those are incredibly stubborn things.
Their own gov admitted they a f.cuked until 2037.
The loss of trust is biggest problem - both domestically and internationally - and locks out Ghana from borrowing without security.
They will only have access to AID money - World Bank and such "loan" as AID.
Once IMF get done - maybe in 5-10yrs - they might get access to bilateral lending from friendly countries.
It will be a decade before someone can buy ghana treasury bonds or Eurobonds.
And they will demand crazy interest to take care of their risks of another default.

It's easy to default but it's incredibly hard to come out of it.

Ask Argentina. Zimbwabwe and others.

Argentina started in 2001 - now we are going 30yrs - they have yet to recover.

Ghana is already borrowing and there's no lost of trust

I guess you think Australia defaulted too


Stop casting your insecurities about Kenya default on us... You can swim in that sea with Zimbabwe, Sri Lanka and co

rvp2018:
First stop the anger and insults - it's going to be 20yrs minimum before Ghana recover.If you're in a mess dont assume everyone is in a mess.

Almost every year someone in a mess - this Ghana decade. Dont assume the rest of world are struggling majority of world are doing just fine.

In kenya I am not aware of someone operating dollar account being limited. If anything, there were murmurs of struggles when BUYING forex.

What is in your account belong to you. Youre not buying forex. This money in the account.

Ghana is already recovering and it will be done in 2 years...

Cry for Kenya as there's no end in site for your ongoing classic default

Just40:
Ghana is already recovering and it will be done in 2 years...

Cry for Kenya as there's no end in site for your ongoing classic default

kenya is sick financially .

vaxx:
kenya is sick financially .

yeah ... Kenya is a dead man on IMF bed.



That is even old, The new one is KQ defaulting on it loan obligations making the Kenya govt carry an albatross on it neck when it doesn't have any free money lying around hence another default.

Another good Ghanaian educating Kenyan MPs on the powers they have

The education never stops

Kenya power is already rejecting the Kenya shillings
Useless currency

You guys have not seen anything yet ... After making Kenyans pay the highest for power on the continent, Now it can't find forex and has resulted to abandoning the shillings.

This is straight down the hill to Zimbabwe.

Just like I said , rvp is very much dense . Love foolish argument that never agree with him .

There is even shortage of dollar in kenya , you can only withdraw 20k dollars from kenya banks and that even depends on availability. Not guaranteed.


The worst hasn't even started as the report predict

Just40:
Kenya power is already rejecting the Kenya shillings
Useless currency

You guys have not seen anything yet ... After making Kenyans pay the highest for power on the continent, Now it can't find forex and has resulted to abandoning the shillings.

This is straight down the hill to Zimbabwe.

The move can actually crumble their currency more. AN illogical move I must say, they always run out of idea . Running two currency is a huge hassle and has considerable cost . Liberia is a typical example. Dollar can be used just as Liberia currency. Very mad system.

Shilling is about turning to Liberia dollar.

[/quote]

vaxx:
Hope you aware people are making money on the Ghana Stock Exchange and it gets talked about less.

GHS1000 invested in FanMilk in January 2021 became GHS3700. A 270% rise.

Benso Palm did 233%

Guinness - 100%

Ecobank - 75%

- GSE

Get link up to a broker

really? would look it up.

QuietMynd:
Dammit, painment full dis one body, he couldn't do anything to Change anything in his village school in his state only 4 him to run to another man's country nd take advantage of tax payers money. Now he is boasting of another country Healthcare nd even posting laughing emoji thinking he is making sense.
Damn, Nigeria don't deserve some people born in it.

Shame on you, cuz I'm actually Ghanaian nd Nigerian. I brag about Nigeria to Ghanains too. Why will I brag about Nigeria to a Nigerian? You well?

kkins25:
really? would look it up.

make money my bro. Forget that iphone 13 pro max for now . The data I provided is fully backed by GSE.

Just40:
Kenya power is already rejecting the Kenya shillings
Useless currency

You guys have not seen anything yet ... After making Kenyans pay the highest for power on the continent, Now it can't find forex and has resulted to abandoning the shillings.

This is straight down the hill to Zimbabwe.

Shut up already. Can you explain to me how someone in a supposedly "civilised" country is roasting goat meat by burning car tyres? And here I was thinking I'd seen it all with your brother's eating cow hide but no this is on a whole other level.


https://www.youtube.com/watch?v=sTio_0rwR1s

You're really scouring the internet looking for bad news; misery love company; you should try see if Nigeria the big Zoo will provide company.

2000 - that is 22yrs ago.

Kenya has new modern constitution enacted in 2010.

Just40:
Another good Ghanaian educating Kenyan MPs on the powers they have

The education never stops

I wonder how someone can proceed to eat that.

Saddamochieng00:
Shut up already. Can you explain to me how someone in a supposedly "civilised" country is roasting goat meat by burning car tyres? And here I was thinking I'd seen it all with your brother's eating cow hide but no this is on a whole other level.


https://www.youtube.com/watch?v=sTio_0rwR1s

Since 1999 - IPPs - Independent power producer came in - kenyans always pay forex charge on their electricity. IPPs signed agreement to provide us power for 30yrs - and those who import oil/thermal - have forex charge on them. KPLC have to buy dollars - and Kenya banks are making a kill from forex - so it make sense if they can charge source for own cheaper forex.

We are okay - because we dont have rolling power cuts like South africa, Nigeria, Tanzania, Zambia and Zimbwabwe - who are all struggling for non-investment in the sector and dependence entirely on hydro or coal - or of course being totally rudderless like Nigeria.

vaxx:
The move can actually crumble their currency more. AN illogical move I must say, they always run out of idea . Running two currency is a huge hassle and has considerable cost . Liberia is a typical example. Dollar can be used just as Liberia currency. Very mad system.

Shilling is about turning to Liberia dollar.

rvp2018:
I wonder how someone can proceed to eat that.

Let's see how that local nut is going to defend himself this time. I mean this is way worse than what I've seen in Makoko. One thing I have to give to them is how they've been sweeping all this under the rug all this years.

Saddamochieng00:
Shut up already. Can you explain to me how someone in a supposedly "civilised" country is roasting goat meat by burning car tyres? And here I was thinking I'd seen it all with your brother's eating cow hide but no this is on a whole other level.


https://www.youtube.com/watch?v=sTio_0rwR1s

no one roast goat meat with tyre

Tell me why someone in a civilized country allow children to scavenge on dump sites.


https://www.youtube.com/watch?v=0B_vZCLDs-M


https://www.youtube.com/watch?v=zOtshu8Fr9c

rvp2018:
You're really scouring the internet looking for bad news; misery love company; you should try see if Nigeria the big Zoo will provide company.

2000 - that is 22yrs ago.

Kenya has new modern constitution enacted in 2010.

22 years you say ... Wasn't my education minister rush to Kenya to give you another lesson?

Don't we have to educate you guys every year on all front of nation building?