Crisis that toppled Credit Suisse Bank
It is going to be difficult. Consider the external environment: Ukraine Russia war, global climate change disasters: earthquake, super typhoons, global energy challenge, bank runs in US and Europe
After 3 bank runs in US: Silvergate, Silicon Valley and Signature, came Credit Suisse Bank, the oldest and 2nd biggest in Switzerland It was bought by UBS, the biggest Swiss bank for only $3 B plus. The $50 billion credit facility offered by Swiss National Bank failed to stave off bank run for CSB.
What was bad, the deal zeroed $17 billion of bondholders. Switzerland image as haven for world wealth would become uncertain, and certainly no longer the citadel, safe haven for your hard earned money
The net effect of this is the lose of faith and trust on the banking system world wide, and this is bad because bank is the core of capitalism and without that trust.
Not to be left behind and shivering due to scandals like CSB is Deutsche Bank. Just like CSB: accused on ML cases, tax evasion, etc.
Thus what are we going to do - languish suffer and wait for cards to fall due to this banking crisis. Certainly not. We need to be entrepreneurial.
1. There are problems to be solved - poverty, credit, global change, waste management, energy
2. Opportunities - occasion to make money and create more wealth. Take note that China minted many billionaires during the pandemic
3. Leadership opportunities to solve the worldwide woes
4 There are industries that recession proof: energy, shelter, clothing, food, and health care, tourism, transportation, hospitality
We see many opportunities to save and earn more money: solar lamps, rider type lawn mower for maintenance, excavator for one of our processes.
It is not over for the whole world
Habang may buhay, may pag asa, may negosyo. May pag yaman
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