Canadian Bank Runs

Paul_Thomson · 2022-02-17T18:54:25.938Z

CanadianJudo:

The Act gives the government a range of options to enact to address a public order emergency, and in this instance federal officials are moving forward with a wide-sweeping range of new measures:

"While a declaration of a public welfare emergency is in effect, the Governor in Council may make such orders or regulations with respect to the following matters as the Governor in Council believes, on reasonable grounds, are necessary for dealing with the emergency:

(a) the regulation or prohibition of travel to, from or within any specified area, where necessary for the protection of the health or safety of individuals;

(b) the evacuation of persons and the removal of personal property from any specified area and the making of arrangements for the adequate care and protection of the persons and property;

(c) the requisition, use or disposition of property;

(d) the authorization of or direction to any person, or any person of a class of persons, to render essential services of a type that that person, or a person of that class, is competent to provide and the provision of reasonable compensation in respect of services so rendered;

(e) the regulation of the distribution and availability of essential goods, services and resources;

(f) the authorization and making of emergency payments;

(g) the establishment of emergency shelters and hospitals;

(h) the assessment of damage to any works or undertakings and the repair, replacement or restoration thereof;

(i) the assessment of damage to the environment and the elimination or alleviation of the damage; and

(j) the imposition

(i) on summary conviction, of a fine not exceeding five hundred dollars or imprisonment not exceeding six months or both that fine and imprisonment, or

(ii) on indictment, of a fine not exceeding five thousand dollars or imprisonment not exceeding five years or both that fine and imprisonment,

for contravention of any order or regulation made under this section."

zantax · 2022-02-17T20:05:19.599Z

How long until Americans figure out the same thing could happen here and do the same?

conan · 2022-02-17T21:04:58.924Z

It’s not about crashing…it’s about tyrannical thugs going in and freezing/steeling or confiscation your money because you donated to truckers cause.

That’s what little dictator of the north is advocating. Putin is less feared.

Oryx · 2022-02-17T21:20:34.465Z

conan:

It’s not about crashing…it’s about tyrannical thugs going in and freezing/steeling or confiscation your money because you donated to truckers cause.

That’s what little dictator of the north is advocating. Putin is less feared.

Agreed, freezing bank accounts without due process is tyrannical.

conan · 2022-02-17T22:23:29.171Z

That’s why we should never trust the government. The fact that they even suggest that only add to that mistrust. And you can’t trust our government promising you either…look no farther then DHS…and how they lied.

Axxowiz · 2022-02-18T02:01:47.323Z

Well I never thought I would agree with toilet paper as a currency but after seeing the great retarded toilet paper rush during the pandemic clearing out groceries stores while SUV’s were out front of the store selling it for double the price I can’t deny it.

Ceasar · 2022-02-18T02:15:03.753Z

Ceasar:

The banks in Canada are seeing a lot of people clearing out their accounts.

It’s because of the threat to freeze accounts so many people are draining their accounts, then others not involved are seeing the banks deposits going down & taking their money out too.

Way to go Covid mandate tyrants!

x.com

I actually don’t want any of this to happen, I hope cooler heads prevail, but if someone threatened to take everything I own I would remove every cent. Take a man’s life saving over a parking violation? They aren’t the Taliban!

SixFoot · 2022-02-18T02:16:30.015Z

Canned food is only a countdown to starvation. Chickens and pigs ate the filth off the streets of arabia and rome and gave edible meat and eggs in return. Sustainability is key, the Alamo is death.

ohknow35 · 2022-02-18T02:52:51.891Z

If I were a canadian trucker, I’d start heading for Ottawa right now. I don’t care which side you’re on about vaccines.

e7alr · 2022-02-18T03:13:21.526Z

If you remember back to 2008, a 600 Billion+ single day run on money market mutual fund deposits almost collapsed our system. This is much more insidious, like what happened in Cyprus. There, the government re-capitalized the banks by reducing the value of individual’s deposits. I am pretty sure that the Canadian Central Bank has liquidity rules in place that dictate when a bank must be seized by the regulator…

e7alr · 2022-02-18T03:32:23.483Z

Just looked at the Capital Requirements for Canadian Banks and their proposed new requirements. It seems that a Bank in Canada currently needs to have at least 65% liquidity of assets, with that amount set to rise to 72.5% percent by 2026. In other words, the Canadian Regulator is planning to tighten capital available for lending. A run on the banks could push these institutions below the liquidity requirement. Making funds unavailable for withdraws will only lead to loan defaults, possibly triggering a death spiral among assets of the bank, further damaging liquidity levels.

Capital Adequacy Requirements (CAR) Chapter 1 – Overview of Risk-based Capital Requirements

Guvnah · 2022-02-18T04:01:43.774Z

Oryx:

Bullets and toilet paper are king.

And booze.

Konssurvative1 · 2022-02-18T04:34:11.261Z

Guvnah:

Oryx:

Bullets and toilet paper are king.

And booze.

And especially booze.

lessright · 2022-02-18T05:51:52.757Z

conan:

Interesting…a lib free thread.

I also like my follow Conservatives to take heed to this as to why going all digital currency is not only bad…but extremely dangerous.

I’m not surprised. This has become an almost lib free website.

Camp · 2022-02-18T12:47:40.829Z

That was a terrific TGIF funny.

Thanks!!

conan · 2022-02-18T15:55:31.792Z

You mean lack of infestation?

lessright · 2022-02-18T16:10:25.539Z

conan:

You mean lack of infestation?

Sure. How did that happen? Did they just give up?

conan · 2022-02-18T17:17:01.467Z

If you have a problem take it up with mods…or use community feedback.

lessright · 2022-02-18T17:26:37.313Z

A problem with what? I just asked a question. What does this have to do with the MODs?

floydefisher · 2022-02-18T17:45:42.900Z

Or maybe, just maybe the banks shut down over fears of hacktivists cleaning out bank accounts from the newly released personal bank info of depositors gotten in the recent hack of give send go?

Maybe you would rather the bankers just fire up a smoke and chant ‘Freedom’ while their customers are made poor at the hand of hackers?