Posted on 02/23/2022 3:04:44 PM PST by Mount Athos
Ironic, now that Canada is no longer a free land.
“There is no man more dangerous than the man who has nothing to lose”.
They poked the bear!
I think the great reset has just been.....reset.
I hadn’t heard about the liability protection provided to collaborating/cooperating financial institutions....
I’d never trust my institution again.
I plan on purchasing a larger supply of consumer goods that have an indefinite shelf life. Whatever I can buy now is protected from future inflation. Money in the bank (or mattresses) isn't.
Freeland studied in the USSR ,LOL
more secure locations
Where might that be?
—
A coffee can buried in the backyard provides more security.
An explanation for what might be scaring the crap outta Canad’s Deep State, from Punch magazine, 1957...
https://ritholtz.com/2008/12/a-primer-on-fractional-reserve-banking/
They’ll never see the evil or the wrong in what they do, even as the noose slips around their necks. Just like the Ceausescus. Defiant to the end.
You can’t hide it on your body because the police love to strip search people over and over again
It is not the frozen accounts that will trash the financial system, it is all the other people that will pull their money due to the thought that their accounts can be frozen so easily.
Learn about fractional reserve banking and you will quickly realize why this could be so massive.
I actually hope everyone who opposes Canadas overreach drains their bank accounts. It would be glorious! The dang central bankers would finally get what they have deserved for millennia.
True.
At this pint, goods are a great investment.
I have always told mr. mm that we should buy what we want or need or are planning to use now, while it’s still available, while the money is actually worth something, and we have it.
Because sure enough, if inflation and supply chain shortages continue, and I don’t see them slackening, we won’t be able to get stuff. And all the money in the world can’t buy what isn’t there.
They didn’t even go to the courts they just said RCMP FREEZE
joshua c wrote: “what about people who do not want their assets frozen cuz the state does not like your political speech?”
I don’t consider blockading border crossings or closing down public right of ways as an acceptable form of political speech. One wonders how many who are criticizing Trudeau’s actions would have applauded had the target been BLM or ANTIFA?
walkingdead wrote: “I actually hope everyone who opposes Canadas overreach drains their bank accounts. It would be glorious! The dang central bankers would finally get what they have deserved for millennia.”
I would suggest the economic carnage you seem to want would hurt you far more than the central bankers. I believe the Revelation implies in verse 6:6 that catastrophes hit the poor harder than the rich.
I’ll bet there were some intense phone calls from bank presidents.
************
That’s the only logical explanation for the sudden reversal.
Imagine the money that has been pulled out of Canadian banks and the threats to withdraw even more.
Very good and funny, but it skims over the fractional part.
I have a bank, and that bank has $10 in it. I can lend out $100 legally. Think about that and welcome to fractional reserve banking.
We think its bad for inflation to print money, and it is, but there is another 90% that is created due to fractional reserve banking.
walkingdead wrote: “It is not the frozen accounts that will trash the financial system, it is all the other people that will pull their money due to the thought that their accounts can be frozen so easily.”
Pure speculation and wishful thinking on your part. The overwhelming majority of Canadians support the government actions and think the truckers went too far. Now why would they pull their money?
walkingdead wrote: “Learn about fractional reserve banking and you will quickly realize why this could be so massive.”
Fractional reserve banking powers all the great economies. If it weren’t for fractional reserve banking you’d never get a loan for anything.
>>Is the Canadian Financial and Banking System in Serious Trouble as a Result of Their Attack on Private Bank Accounts?<<
I HOPE they face serious trouble for this. Trudeau is a jackass and it would serve him right.
At the end of the day, why would you keep your money in place that can be frozen or confiscated by the government for a lousy 1 to 2% interested. Not worth the risk or the return.
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