Can corona virus or any other epidemic disease can collapse Banking?

Pffrt

sr. member

Activity: 1372

Merit: 322

Quote from: Betwrong on March 21, 2020, 06:39:32 AM

The economic impact of this pandemic is already huge, but the banking system is intact, fortunately.

The banking system has also been affected in one way or another. In most countries which have affected seriously with the pandemic, banks are having the worst time too. Not certainly related but you have to check this I think- https://cointelegraph.com/news/italian-bank-opens-bitcoin-trading-to-12-million-during-lockdown This must have some connection with the Pandemic.
Locking the thread, it's getting more and more spam now.

geegaw

hero member

Activity: 1316

Merit: 502

Quote from: Betwrong on March 21, 2020, 06:39:32 AM

Quote from: slashz9 on March 21, 2020, 03:59:03 AM

of course if the plague continues and lasts a long time it will greatly impact the economy, even now there is news that says 80% of patients have recovered in China and have started their activities as usual.
then in other countries this is still the beginning, where prices for staples or things related to this virus go up very high like masks.
So the rumor that the virus will be completely solved in June might be true and maybe a little longer.

The economic impact of this pandemic is already huge, but the banking system is intact, fortunately. Few people, if any, would profit from its collapse.

As for when things will start to improve, I think it can take a month or two, but hardly more than that. These days it's very important to stay out of panic, keep calm, and keep the quarantine, of course.

The banking system is not completely intact, it has received some relatively large influence during this period although it is still operating, the most visible thing is that people are constantly withdrawing the money they have saved to spend during the time they are off work, the capitalization that can be transferred in banks is probably not too much, some loans and investments may be delayed, causing considerable losses. A few months of improvement may not be enough, the bank will take more time but now, as you say, what we should be concerned about is stabilizing health.

pragna

full member

Activity: 1582

Merit: 101

Quote from: Pffrt on February 29, 2020, 01:11:35 PM

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Yes, there is do doubt that COVID-19 has collapse all sector not only in banking sector. We saw after Chaina attack by COVID-19 whole world stock exchange rate gone down because Chaina was connect to whole world economy with their products or raw materials. And here banking connectivity is high also. So now we are seeing full crush of banking and economy.

Betwrong

legendary

Activity: 3374

Merit: 2198

I stand with Ukraine.

Quote from: slashz9 on March 21, 2020, 03:59:03 AM

of course if the plague continues and lasts a long time it will greatly impact the economy, even now there is news that says 80% of patients have recovered in China and have started their activities as usual.
then in other countries this is still the beginning, where prices for staples or things related to this virus go up very high like masks.
So the rumor that the virus will be completely solved in June might be true and maybe a little longer.

The economic impact of this pandemic is already huge, but the banking system is intact, fortunately. Few people, if any, would profit from its collapse.

As for when things will start to improve, I think it can take a month or two, but hardly more than that. These days it's very important to stay out of panic, keep calm, and keep the quarantine, of course.

slashz9

full member

Activity: 1554

Merit: 101

of course if the plague continues and lasts a long time it will greatly impact the economy, even now there is news that says 80% of patients have recovered in China and have started their activities as usual.
then in other countries this is still the beginning, where prices for staples or things related to this virus go up very high like masks.
So the rumor that the virus will be completely solved in June might be true and maybe a little longer.

Yatsan

legendary

Activity: 2436

Merit: 1232

Leading Crypto Sports Betting & Casino Platform

It can't collapse banking, but it can make a huge damage to the system. Banking is what normal people need and I think with this pandemic banking profit and it's other operation is getting cancelled due to the crisis and a lot of people are going to lose money. Here our country the bank here are still open but they are limiting the customer who ca enter their establishment. We are in the middle of implementing digital banking so still a lot of people use the digital one.

Every aspect of the economy; this pandemic is causing a lot of damage but, I don't think it can collapse any sector of it.

onrise

sr. member

Activity: 1512

Merit: 316

Quote from: bitcoinst on March 20, 2020, 01:55:30 PM

I doubt it very much.
The fact is that if it were a banking system exclusively in the physical world, then perhaps a reduced number of contacts from the system could somehow affect its operation.

However, now we can see that almost the entire banking system goes digital.

From this we can conclude that an epidemic of this kind will only accelerate the transition of financial systems to the digital environment.

The future is digital and not all counties have the facilities and infrastructure setup for going digital . In fact in rural areas of many countries still lack basic facilities and internet not their . Only developed countries has this and may be developing ones have to an extent rest still people have to go to banks to withdraw or deposit and for other transactions. Hopefully it would change in due course .

senin

full member

Activity: 938

Merit: 137

Quote from: Pffrt on February 29, 2020, 01:11:35 PM

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

The onset of the global economic crisis after the coronavirus spreads all over the planet is entirely possible. Now many enterprises are stopping, the economy of almost all countries continues to fall, and this could lead to a crisis. However, no matter how the crisis occurs, it cannot completely destroy the entire banking system. Of course, many banks will go bankrupt, but the banking system will continue to exist, since it will be supported by the states themselves. In fact, the banking system is part of the state; the state cannot fully exist without the banking system. Therefore, banks existed and will exist for now.

bitcoinst

hero member

Activity: 1708

Merit: 651

SmartFi - EARN, LEND & TRADE

I doubt it very much.
The fact is that if it were a banking system exclusively in the physical world, then perhaps a reduced number of contacts from the system could somehow affect its operation.

However, now we can see that almost the entire banking system goes digital.

From this we can conclude that an epidemic of this kind will only accelerate the transition of financial systems to the digital environment.

Sanugarid

full member

Activity: 1442

Merit: 153

★Bitvest.io★ Play Plinko or Invest!

The global pandemic will definitely give a negative outcome to the economy as it leads to lockdown and shutting down of different companies for the safety of everyone. As production in different terms ends up stopping, the value of a certain currency would go down for sure as the resources, imports and exports would decrease also. Any global phenomena can collapse banking and the economy. The system of the world needs to keep on working everyday so things wouldn't go out of hand. We need to set ourselves ready for the possible depression the world may experience for the next few months as the effects of the outbreak shows up.

Betwrong

legendary

Activity: 3374

Merit: 2198

I stand with Ukraine.

Quote from: mu_enrico on March 12, 2020, 10:50:10 AM

Quote from: Pffrt on February 29, 2020, 01:11:35 PM

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Economic slowdown: yes;
Recession: high probability;
Depression: if recession is not managed properly.

C'mon man, if banks collapse, crypto would be collapse (in term of dollar price) as well. ~

I agree, there will be no winners in the case of a global depression. People should understand that this is no post apocalyptic computer quest game, it's real life and it's serious. If banking system collapses, what awaits all of us very soon is chaos. And if someone now is saying that he is not afraid of chaos, that is because he has been living all his life under protection of government, having no idea what is it to live by the law of the jungle.

wozzek23

sr. member

Activity: 1568

Merit: 283

I don’t think that any epidemic or even Coronavirus can stop banking.
Even right now that there is an outbreak of Covid-19 a lot of companies have asked their employees to start working from their homes, and banks are not an exclusion, in fact JP Morgan has asked thousands of their employees to be working from home.

In every company it’s not really everyone that are asked to work from home, there are still some of the employees that their jobs requires them to be coming to the office, but they would not be spending as much time as they used to do before now.

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

Banks won't have problem, the central bank is sure to print helicopter money to bail out any of them. But the problem is with all the other people: If you can not go to work, you have no income, unless the government bail out you, you will not be able to pay back the house loan and deal with the living cost. And many people are living from pay check to pay check.

Wintersoldier

sr. member

Activity: 966

Merit: 274

Corona virus or any epidemic diseases could not only collapse banking but every productivity that is happening in this world that it could stop due to community quarantine and lock downs in other countries because exporting and delivering goods will closed.. Diseases may really cause economic losses in feedlots through mortality, productivity of basic needs.

charlesmichel1

jr. member

Activity: 147

Merit: 6

The Corona impacts the market negatively, we see it right now. Banks leveraged exposure may be the reason for 2020 turning to be new 2008.

mu_enrico

copper member

Activity: 2324

Merit: 2142

Slots Enthusiast & Expert

Quote from: Pffrt on February 29, 2020, 01:11:35 PM

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Economic slowdown: yes;
Recession: high probability;
Depression: if recession is not managed properly.

C'mon man, if banks collapse, crypto would be collapse (in term of dollar price) as well. You should buy canned foods or toilet paper instead.

arrmia11

member

Activity: 406

Merit: 13

Quote from: Pffrt on February 29, 2020, 01:11:35 PM

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

I think it's a yes it will affect the banking system because eventhe cryptocurrencies are affected globally but not just the corona virus or other epidemic disease will affect the banking system or the cryoptocurrensy even the other Holly days will affect the banking system

conected

hero member

Activity: 1302

Merit: 503

Quote from: Meowth05 on March 12, 2020, 07:58:40 AM

I think there is correlation with the possibility of collapse for banking when it comes to epidemic diseases, but that is a far fetch possibility from happening right now, given that the government are doing what they can to prevent the further spread of these diseases. Collapse can happen but humanity are fighting to prevent that.

- Pandemics have always had a negative effect on most fields, so more or less, the current corona virus will have a big impact on the services that banks provide but about the collapse, I agree with you that it will be a vision in the distant future because this epidemic is only temporary, it will delay banking services for several months or maybe longer but never forever. Governments of nations cannot let epidemics ruin their economies, we can see that the measures and research on medicines are in a hurry, banking activities will recover soon and no collapse is expected here

NavI_027

full member

Activity: 1232

Merit: 186

Quote from: Pffrt on February 29, 2020, 01:11:35 PM

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance?

Of course, you can think of it by simple logic. If there is a pandemic (Corona virus in this case) happening what tend to happen is that most of countries will freeze. Different industries will be forced to stop and will later result to economic crisis.

Quote from: Pffrt on February 29, 2020, 01:11:35 PM

In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Expect the worse dude Sad

. Inflation is just the beginning, what I'm scared of is if we reach the point where each and everyone become insane because of scarcity. The moment when people have no choice but to rob, deceived others and even kill just to acquire their necessities. Eeehh I don't know how severe the situation in China is, but I hope it will calm down ASAP.

Meowth05

sr. member

Activity: 854

Merit: 267

★777Coin.com★ Fun BTC Casino!

I think there is correlation with the possibility of collapse for banking when it comes to epidemic diseases, but that is a far fetch possibility from happening right now, given that the government are doing what they can to prevent the further spread of these diseases. Collapse can happen but humanity are fighting to prevent that.

Topic: Can corona virus or any other epidemic disease can collapse Banking? (Read 733 times)