Hello @kaibagt. First I'd like to thank you for the Follow. Much appreciated.
Your article was interesting in providing past economic measures taken in Brazil. I had no idea this happened to its citizens. Freezing one's assets I wouldn't consider sound financial planning for a government. As you stated, it caused financial uncertainty, distress, and lack of trust and a vote of no confidence in its leaders.
In the U.S. several years ago, when several financial institutions failed, the government stepped in to secure investor's savings and working capital. But not before the bank froze members' assets for a short period. I believe it was only a few days.
That created in citizens an awareness that one truly needs to diversify and always have on hand liquid available for emergency. I've always followed this rule I learned from my young adult life.
Thanks for sharing this information. Take care and have a good rest of your week.
!LADY
It was a unique event that happened in the 90s, which I hope will never be repeated. One thing that is complex in my opinion is that if the entire population went to a bank to "withdraw" all the amounts at the same time, we would hardly have the liquidity to do so, so as you mentioned, diversification is something that will make all the difference.
Thanks for your comment, have a great week.
!PIZZA
!BBH
Yes, that would have been a tragedy if the run on the banks would have left the five institutions without operating funds. They did limit the amounts depositors could withdraw in a certain time frame. Still, members panicked.
Oh, I see you've withdrawn your Follow. Thanks for the previous support. Take care.
!LADY
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LOHtokens.@justclickindiva, you successfully shared 0.0100 LOH with @kaibagt and you earned 0.0100 LOH as tips. (3/25 calls)
Use !LADY command to share LOH! More details available in this post.
It's good that nothing bad happened and panic didn't set in.
View or trade
LOHtokens.@justclickindiva, you successfully shared 0.0100 LOH with @kaibagt and you earned 0.0100 LOH as tips. (1/25 calls)
Use !LADY command to share LOH! More details available in this post.