A Major Backfire – Is the Canadian Financial and Banking System in Serious Trouble as a Result of Their Attack on Private Bank Accounts?

The Last Refuge ^ | February 23, 2022 | Sundance

[Mount Athos]

Has there been a massive exodus of capital out of the Canadian financial system?

A few obscure but interesting data-points seem to indicate Justin Trudeau’s unprecedented use of the federal government and intelligence apparatus to target the bank accounts of Canadian citizens has just created a serious problem for their financial institutions.

When Prime Minister Justin Trudeau announced he was invoking the Emergency War Measures Act to seize bank accounts and block access to the financial system for people who were arbitrarily deemed as terrorists to the interest of the Canadian government, i.e. the Freedom Protest group writ large, many people immediately thought about the consequences of a government taking such action.

Indeed, the first response to many who witnessed the gleeful declarations of the Canadian government as they expressed their intent to utilize their emergency power, was that this was seriously going to undermine faith and confidence in the Canadian financial systems. The RCMP is the Canadian equivalent of the FBI.

If the government can work with the RCMP to target people based on an arbitrary political decree, and then control your bank account while simultaneously giving financial institutions liability protection for their participation, the confidence in the banking system is immediately undermined.

What might seem like a great tool for political punishment has long term consequences, especially if people start withdrawing their money and/or shifting the placement of their investments to more secure locations away from the reach of the Canadian government. Considering the rules of fractional banking and deposits, it doesn’t take many withdrawals before the banks have serious issues.

Finance Minister Freeland’s assistant deputy, Isabelle Jacques, informed a parliamentary committee that all bank accounts frozen by the federal government’s use of the Emergency Act, were immediately being unfrozen.

Obviously, many people realized from the outset what the Canadian government had done was tenuously legal at best, provided no legal due process or right of challenge, and likely would not pass any serious legal scrutiny. Unfortunately, in the echo chamber that is far-left liberalism, such matters are not as important as the ideological political motives; but there are people who realize the consequences of power-lust in this application.

Central banking finance ministers around the world obviously would pay close attention to what Trudeau just announced, and there are certainly people in the World Economic Forum (WEF) group, International Monetary Fund (IMF) and central bankers who would not be happy about the Canadian government showing just how easy it is to snatch money out of the hands of citizens.

These tools of citizen control are things well known to the central bankers and control agents of finance, but they are never spoken about in polite company – let alone publicized, promoted and openly bragged about.

Justin Trudeau and Chrystia Freeland essentially broke the financial code of Omerta, by highlighting how easy it is for government to seize your bank accounts, credit cards, retirement accounts, insurance, mortgages, loan access and cut you off from money.

Worse yet, the short-sighted Canadian government via Minister Freeland announced their ability to control cryptocurrency exchanges in their country and block access within a financial mechanism that exists almost entirely as an insurance policy and hedge against the exact actions the government was taking.

[Carriage Hill]

They can try, but that won’t stop or hinder millions of us.