Canadian Bank Runs

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?

Ceasar · 2022-02-19T04:13:45.800Z

floydefisher:

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?

Or…Maybe, just MAYBE you are wrong & the government is taking their money?

Impenitent · 2022-02-19T04:22:14.620Z

millions of pieces of paper with numbers on them are nothing but millions of pieces of paper with numbers on them…

regardless of which “mint” prints them

floydefisher · 2022-02-19T06:30:25.389Z

You don’t stop bank runs by closing the online portal, you shut and lock the doors to the bank itself.

You close the online portal when you’re worried about online attacks, which can happen when hackers have your financials in their hot little hands.

Ceasar · 2022-02-19T07:11:05.079Z

floydefisher:

You don’t stop bank runs by closing the online portal, you shut and lock the doors to the bank itself.

You close the online portal when you’re worried about online attacks, which can happen when hackers have your financials in their hot little hands.

I don’t know…but it does seem a LOT of Canadians are withdrawing all their money from the banks as fast as possible.

Perhaps it’s because they fear losing it all because the tyrant Trudeau will steal it all from them?

Warning: Profanity & other issues on links!

Forward Observer – 17 Feb 22

DailySA: Bank run in Canada

Good morning. Here’s your Daily Situational Awareness for Thursday, 17 February 2022. You can receive this daily briefing by signing up at TODAY’S BRIEFING: Bank run in CanadaLawmakers press YouTub…

Business Game Changers with Sarah Westall – 18 Feb 22

After Trudeau Freezes Protesters’ Bank Accounts a Run on Canadian Banks Shuts...

Run on Canadian Banks as Government Moves to Shut Down Accounts: Business Game Changers with Sarah Westall

Est. reading time: 5 minutes

Eatgrueldog – 17 Feb 22

Oopsey! Little run on the banks, Eh? : Five major Canadian banks mysteriously...

On February 16, five major Canadian banks went offline, preventing a number of customers from using e-Transfers, online banking, and mobile banking services. The financial institutions affected by …

https://www.investmentwatchblog.com/trudeau-inadvertently-caused-a-bank-run-in-canada/

gooddad409 · 2022-02-19T13:58:53.623Z

I hope the banks involved collapse myself. And Brandeau is run out of office and town as well for that matter.

e7alr · 2022-02-19T14:00:26.808Z

No, they shut down over concerns of capital liquidity at the banks. One has to remember that individuals’ account balances, on deposit, are considered an on demand account payable of the institution, not an asset. The physical and notional currency (electronic fund transfers) in possession, balances on deposit with other financial institutions, securities held in accounts owned under the bank’s tax payer ID number, and loans (debt holdings) made to customers are the actual assets of the bank.

I have always found it funny that so many people think their money is physically setting in the vault at the bank, or credit union, In reality a large percentage is required to be on deposit with the federal reserve. more will be invested by the bank in short term instruments with other banks and investment houses, and a final amount will be held as loans made directly by the bank to customers. The vault is primarily for safe deposit boxes and holding the usually less than $200,000 of physical currency needed to facilitate cash withdraws (window exchanges and ATMs). And most of this is churn of the same physical pool of currency, cash deposits in, cash withdraws out, in the same week.