Post
Topic
Board Economics
Re: Are people losing faith from centralized organizations?
by
amishmanish
on 12/08/2020, 07:48:08 UTC
--snip--
I don't know if it is happening in your country as well. But seems people losing their faith from centralized organizations like a bank. It would happen due fair of bankruptcy or due to need money on emergency situations. On the other hand, gold and bitcoin movements saying that new investors getting in. Most probably people want to be their own bank.

What's your thought and what's the real situation of your country?
In my country there has been a definite trend of drop in bank deposits but it has nothing to do with distrust of centralized institutions or banks. In developing countries like mine, people used to have a mentality of bank deposits being a safety net and the ultimate savings investments were the ubiquitous Fixed Deposits. With increasing awareness, people are diverting their savings to the stock market, trading and other riskier investments hoping to get better returns.

There really isn't the widespread distrust of big banks in general. Here you have public, state owned banks as well as private banks. Those with a more conservative outlook tend to prefer the public banks. Most people generally have an account with all type of these institutions.