08/12/2020
Hi
Fist, Ecuador not have a stock market, like USA have Wall Street.
The only way that we can have some economical crisis, for my personal experience are:
like in 1999 / 2000... when we changed our currency, SUCRE to the Dollar, Dollarization, we lost money in a crazy way, but, we are here, in one or another, we survive.
The other crisis can be a big political crisis, like Venezuela, or like what happened with the oil price in this year, with zero value or a negative price, again, we are still with the dollar and doing pretty well.
So, the indigenous political parties here in Ecuador, are saying that if they become president of Ecuador, will leave the dollar and return to a national currency, so, if that happen, the regular working class, medium class, will go to Quito and take out that government, because, everybody, except the extreme political guys, are happy with the dollar.
So, let's suppose that a big global economic crisis comes, well, we will lose everything and no way to have something back, end of the movie.
Also, about the rumours that the dollar will collapse or so, the standar Ecuadorian not care about that, the people who sell potatoes in the market, dont care... we will find another way to buy and sell, no problem. We dont believe in conspiracy theories, we like it, but for is is fantasy... anyway
then comes the other things...
you put the money into Jep, 42K for two years and JEP collapse, for whatever reason, the next day or the next year, then, just guessin:
you put the CD today and JEP collapse on Monday... so, the Government, throutgh the https://www.cosede.gob.ec/ agency, guarantee a top of 32K per client and per person... so, in some point, the governmetn will call you to give you back 32K, no interest, only capital.
Then, the government will take control of JEp, and frozen the assets and sell it, from the money after the sale of the assests, the government will pay the rest of the money, example, JEP have 2000 millions dollars in assests, but, that´s only numbers, th truth will be discovered if JEP fails.
So, the other option to brake the country is, if all the rich people takes the money out of the country but, the government will ask for loans to cover the holes, as always do.
Any questionns, let me know