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How safe are offshore banks during a recession?
- Thread starter proples
- Start date
With QE you might wonder what happens to the value of you currency anyways.
Goes back to what I have said in other posts. Banks such as Europacific Bank or any other Caribbean bank that does not publish its financials should not be taken seriously for holding money.
You are playing Russian roulette right now if the bank does not publish its financial report. You better keep your eye on press reports to stand a chance of exiting before any potential bank collapse.
Thank you for your reply.
My bank actually has statements that date back from 2003. They publish an annual report at their website.
It's not Europac.
I was just taking a look at the statement, and if it's veridical, they have a pretty solid balance sheet. Almost no debts and lots of cash or cash equivalents. The thing is that I'm not sure if it's audited. But the bank's holding is listed in the Jamaican stock's exchange, so I guess there must be some kind of audits.
My bank actually has statements that date back from 2003. They publish an annual report at their website.
It's not Europac.
I was just taking a look at the statement, and if it's veridical, they have a pretty solid balance sheet. Almost no debts and lots of cash or cash equivalents. The thing is that I'm not sure if it's audited. But the bank's holding is listed in the Jamaican stock's exchange, so I guess there must be some kind of audits.
If you're scared and acting out of that, it's most likely the wrong decision. But the usual, buy crypto, gold, uranium and all that is obvious. Your money isn't what you should worry about, rather about the value of the currency in which you have that money because we're going into possibly the biggest financial crisis since the 70ies. Govts printing money like mad, helicopter money in disguise in the EU and US...doesn't look good at all.
Europacific will not suffer from any crisis, they have different accounts in different currencies. If, for instance, the euro currency collapses due to the ECB printing money, you can buy US dollars. Also, they aren't directly connected to real economy. So, they don't possess toxic assets like loans that noone can reimburse. People who left money at the Europacific bank will not touch it during the crisis except if one currency collapses.
lol..can you please show me a Europacific Bank financial report?
Your talking about an opaque joker bank based in a third world bankrupt banana republic territory that refuses to give clients any financial information on itself. It's the same bank that needs financial information on you but refuses to give you any on itself even when you ask it. I call that hypocrisy and you need to be clinically insane to use such a bank. I have said it years ago on here only two types of people use Euro Pacific bank i.e Criminals with unbankable offshore shell companies and those avoiding CRS.
USD really? it can collapse any day now. How safe would be keeping money on payoneer, they have those currencies.
Your portfolio should consist mainly of hard assets, USD & JPY are great during a deleveraging event in order to add to positions.
I personally do not subscribe to the framework that USA will collapse any day. The current debt based monetary system needs to USD to service the debt. A lot of countries should be in trouble way before the USA finally busts.
I personally do not subscribe to the framework that USA will collapse any day. The current debt based monetary system needs to USD to service the debt. A lot of countries should be in trouble way before the USA finally busts.
When the stock markets tank during any crisis or major sell-off, where do investors always park their money?
Answer: USD
The USD is a bad apple amongst a large bucket of even worse bad apples (i.e., other currencies).
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