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Originally Posted by The Elkster
I'm in cash but I don't feel particularly safe in the long run. This event could very well be big enough to put banks at risk and potentially cause a big financial reset.
And for those inclined to read too much into this. No I don't think banks are going to collapse in a few days or a month or even a few months. My concern is that this virus will reek havoc on economy for a year or more. The whipsaw battle between containing this virus and maintaining an economy and supply chain is going to be TOUGH based what I've observed over the last month. This virus spreads very efficiently and is more nasty than most are giving it credit for. Interesting to see a bunch of top Iranian officials are now confirmed infected. I foresee some instability in Iran as a lot of their leaders are in the older demographic. Concerning times.
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I certainly won't cry if the virus claims some top Iranian terrorists, and if it claims some corrupt politicians as well, I won't cry over that either. The fact is that the markets were overvalued, and when you add in the corona virus, and the rail blockade, and lack of faith in our government, we have the perfect storm. And if our banks were to fail as a result, Trudeau would have the perfect opportunity to bring in the UN to take over.