How does this stop the banking crisis? If my funds were frozen and then unfrozen, does anybody think I’d leave my funds in the bank?
There has actually been a lot of media and others denying even the hint of a back run happening in Canada over the last few days.
Any idea what percentage of deposits a Canadian bank is required to have on hand?
How does this stop the banking crisis? If my funds were frozen and then unfrozen, does anybody think I’d leave my funds in the bank?
the majority of funds/accounts are not frozen and yes these idiots think people will leave their money in the bank now...unintended consequences from a knee jerk punishment..roflmao.
I think their hope is that it keeps the larger population from being afraid their money is exposed to government intrusion so they pull their money out. And in a time of low or zero interest rates, your mattress may be safer than a bank. At least it’s safer from the government. That is, it’s a lot harder for them to get at it. :)
Personally I'm thinking of buying a waterproof/fireproof safe that I can bolt to my basement cement floor, withdrawing all my cash from the bank and putting it in that. No way in hell I want this mis-Administration to have any sort of control over my cash, my financial accounts, anything. All this tyranny in Canada just confirmed every bad thought I've ever had about our own Government. Thoughts that span decades and Presidencies.
There seriously needs to be a national run on our own banks and show this shitshow of a government of ours just who really controls things.