if you start freezing peoples money in their 0% interest bank accounts. They will simple not put the money into a bank account!
And that would destroy the banks and collapse the entire financial system.
how difficult would it be for Canadians to open U.S. bank accounts and shift most of their reserves into those accounts for protection from Canadian despots?
for example, RBC bank claims to be a U.S. bank specifically designed for Canadians to conduct cross-border transactions ... if RBC bank is REALLY a U.S. bank, then they shouldn’t be subject to the whims of Canadian despots ...
https://www.rbcbank.com/cross-border/us-bank-accounts.html
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Right. The only reason to have money in a bank is because it is supposedly "safer" than stuffing it in your mattress, since interest rates are not an incentive. But now we are learning that, in addition to getting basically no interest on it, our money in banks isn't much safer at all, if the government can take it at any time on a whim.