NZ doesn't have deposit insurance (official laugh at NZ thread)

[Anonymous No.54428085]

>be me
>laughing at SVB fallout
>find out my shithole nation doesn't have ANY bank insurance
>paranoidpepe.png
>worst property market in the world (no long-term fixed rates)
>current interest rates are near 8%
>no bank insurance
dubs decides the future of NZ

[Anonymous No.54428095]

That's why I use BTC as my bank account.

[Anonymous No.54428096]

Based poster kiwifren

[Anonymous No.54428104]

save the image and spread it to your normie kiwifrens who aren't aware of just how bad it is and how much worse it could be

[Anonymous No.54428137]

>>54428104
Kiwis are the dumbest sheeple around.

They won't care until the whole thing collapses.

[Anonymous No.54428141]

>>54428095
based, imagine being in 2023 and thinking there is any point in holding worthless fiat

[Anonymous No.54428159]

>>54428137
Absolutely couldn't agree more, read the comments on this plebbit thread for a good laugh https://www.reddit.com/r/PersonalFinanceNZ/comments/128s0ov/public_service_announcement_your_bank_deposits/ it's such a good sub for salt harvesting

[Anonymous No.54428175]

Aren't they importing hundreds of thousands of people like Australia and Canada

[Anonymous No.54428185]

>>54428175
We were before covid, I think it's been pretty flat since

[Anonymous No.54428193]

>>54428175
There are huge areas of Auckland where you can drive around and only see pajeets. Not a single white person anywhere.

That's why I don't invest anything in this country despite living here. It will be third world within a generation.

[Anonymous No.54428202]

>>54428193
Yeah Auckland is beyond gone, and Wellington is populated by basedjak red-brick barcade enjoyers who just love the hustle and bustle

[Anonymous No.54428220]

The best way to get fucked by the banking system is to encourage everyone else to pull out their money. If you trigger a bank run it’s gonna make the banks actually in trouble, and most likely the government will bail them out, which would fuck you even more than normal.

Bankers always win. They have to, because sovereign currencies depend on banks making loans to affect the monetary supply, and government depend on banks buying sovereign debt with deposits. So governments will always make sure banking continues to operate unless we radically change our economic system

[Anonymous No.54428234]

>>54428220
They can't print more bitcoin

[Anonymous No.54428238]

>>54428175
Were, it's slowed down as it's less desirable (as pay is shit and prices are too high). Most who do come are planning to slingshot over to Australia as residents are allowed to live ad work in Oz freely.

[Anonymous No.54428246]

>>54428175
Every single western country is importing the third world on masse.
Every. Single. One

[Anonymous No.54428247]

>>54428085
There's plans to change that
https://www.beehive.govt.nz/release/depositor-compensation-scheme-protects-kiwis%E2%80%99-money
It's only 100K though and will be voted on later this year.

[Anonymous No.54428255]

>>54428247
Yeah and if you read more about it, it will take years to actually create the fund required for any level of insurance lol, it's another just trust us promise

[Anonymous No.54428268]

NZ is a non-country, lesser than even Canada. There is no hope, there is no future. I fear that this will trickle into all Anglo countries.

[Anonymous No.54428274]

>>54428234
Governments are more likely to restrict cryptocurrencies than to throw away their entire economic paradigm in favor of something they can’t control

[Anonymous No.54428296]

>>54428274
Our inflation is still high, the government just decided to increase all cost of living payments and the reserve bank seems to be nearing their terminal rate, basically admitting they're not really going to do whatever it takes to tame inflation.

[Anonymous No.54428869]

>dubs decides the future of NZ

rolling for enormous volcanic eruption

[Anonymous No.54428893]

>>54428274
doesn't matter what government thinks
that's the whole point of creating a side economy
get it now?

[Anonymous No.54429031]

>>54428085
>worst property market in the world (no long-term fixed rates)
Lmao biggest scam

[Anonymous No.54429108]

>>54429031
Yeah it's insane, people who bough at the peak financed for 2%, now they're looking at 7-8%

[Anonymous No.54429252]

>>54429108
>Yeah it's insane, people who bough at the peak financed for 2%, now they're looking at 7-8%
My idiot friend bought a car on floating interest.
He's kicking himself in the head now that interest rates have spiked her and I don't see it going down for a long time since loadshedding is crippling our economy and it's only getting worse.

[Anonymous No.54429262]

>>54429252
kek, we are only a few days away from the RBNZ raising rates again

[Anonymous No.54429307]

Isn't that a recipe for a bank run? Deposit insurance complacency is the only thing that keeps regional banks solvent in other countries.

[Sandy Frazier No.54429326]

Sounds like Australia needs to invade NZ - https://www.youtube.com/watch?v=9y-yT7o6y6k

That will fix her up<div class="xa23b"><span class="xa23t"></span><span class="xa23i"></span></div>

[Anonymous No.54429354]

>>54429307
We don't really have very many banks at all in New Zealand, it's very centralized already, but a lot of them are exposed to real estate through their mortgage holdings

[Anonymous No.54429561]

>>54428085
That is actually a good thing, I would be concerned if private insurance were illegal however.

I mean, it is an insurance, it costs money, so purchase your own insurance tailored to your risks. This way those with small amounts would pay token insurance prices while those with millions over millions would also be able to be fully insured.

How is the insurance market there?

[Anonymous No.54429580]

99% of NZ population was genocided over the last 3 years. Everything you see is stock footage. Once the job was done Jacentaur went back to Elysium for her medal. Idk if this actually happened but it should have.

[Anonymous No.54429729]

>>54428085
Do you also have infinite fractional reserve banking (0% deposit requirements)?

[Anonymous No.54429789]

>>54429729
We actually were one of the few (don't quote me on this) countries to still have at least some fractional reserve requirement, but fiat is worthless anyway so it doesn't matter

[Anonymous No.54429961]

>tfw grew up in small town NZ
>left 9 years ago with no intention to ever return
Literally has only gotten worse
Pollies have completely fucked the country

Even putting aside WEF vax agenda meme shit, the maoris have been given everything they want, it's turning into apartheid now.
The greenies have restricted ANY industry that emits the tiniest amount of carbon.

No mineral extraction, no coal mining (We just import it from shit hole countries who create even worse emissions)
No local oil refining, we only import refined petroleum

The nation's railways were sold to a company for $400 million and then ran into the ground without a single dollar invested and rebought for $800 million a few years later

Cars are villainised, new cycle lanes put in every where and speed humps every 200m while there's potholes across every major highway in the country.

Fuck NZ and fuck anyone living there contributing to the disgrace that it's become

[Anonymous No.54429999]

>>54428869
I wish
Wipe it all fucking clean

[Anonymous No.54430067]

>>54429999
Holy fucking checked
Taupo will erupt again

[Anonymous No.54430221]

>>54429999
uh oh

[Anonymous No.54430792]

>>54429999
Checked

>>54429961
Where did you go?

[Anonymous No.54430914]

>>54430792
Eu citizen spend half my time there and other half in aus

[Anonymous No.54431353]

>>54430914
God I wish I had another passport
I went to aus for a few years but it really just felt like the same shit as nz. Maybe it was just Sydney

[Lynette Lowery No.54431464]

>>54428246
It's almost like there's some kind of organised global operation to flood White countries with invaders.<div class="xa23b"><span class="xa23t"></span><span class="xa23i"></span></div>

[Anonymous No.54432158]

>>54428869
The whole nation reaches consensus that saint tarrant was right, and within a month everything returns to the old normal. 'The new normal' is never spoken about again