Posted on 02/23/2022 3:04:44 PM PST by 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.
I’m thinking about it. Bad leftist ideas in the U.S. seem to begin in Canada.
Bad leadership happens in a democracy.
***********
All too true.
But what’s going on in Canada is repressive rule, and that’s not leadership.
I don’t think Canada is a democracy.
There may very well be unintended consequences.
The Stock Markets around the world, already rolling over, may see this as another reason to pull money from the Market (Banks, Trading houses, Schwab, Fidelity, etc.) and put it into T Bills and hold the physical PAPER
If the government can identify you and order a bank to freeze your money then they can order all your banks to freeze your money.
Cryptocurrency seems like something they can’t control except you can’t spend it for groceries at your neighborhood store and good luck finding a lawyer to accept cryptocurrency for his fees for the inevitable court battle you are in with the government. And even if they can’t stop you from holding and using cryptocurrency, they can use the blockchain to track your every move and see where and who you do business so they can pressure those places.
You can try keeping cash, but if police search and find more than $10k, on your person or stashed in your house, they can confiscate it and force you through an expensive court process to prove you legally possessed the money before you can get it back. More places are not even accepting cash anymore. I was thinking about it recently that I have had the same cash in my wallet for months now because they have made cards so convenient and cash so cumbersome I don’t ever use it.
Truth there, I think. Turdo is an authoritarian lefty, but that woman just exudes evil. Maybe she’s been placed there by Schwab to make sure Turdo toes the line.
...or, it might be part of the plan! (Not Trudeau’s or Freeland’s, because they are just not that bright.) Klaus Schwab? Perhaps. He’s THAT ambitious, proud, and self assured, and seems to have a ‘Svengali’ power over so many in the WEF!
You collapse the economy and, after a few years of crime and poverty, perhaps a war againstan enemy, where both sides are almost destroyed, then, after a few years, 3 1/2 perhaps, you offer ‘peace and stability’ around the world, in exchange for control over everything.
Seems to me I’ve read that playbook in the Book of Revelation. No, I don’t think that Trudeau is the Anti-Christ. He has that kind of sociopathic ambition, as does Freeland, I believe, but not the brains. Schwab, on the other hand? Who knows. If someone nails him with a ‘Schmeisser’ and he just shakes it off, we’ll know.
In any event,
MARANATHA
Except are you noticing how many businesses are not accepting cash? Quite a few in my circles. Also many that do accept cash, won’t make small change. My point being progress towards a cashless society is happening whether we like it or not.
We all may soon find ourselves completely dependent on credit cards, electronic transfers and related trackable and controllable conduits.
BKMRK.
This is straight out of Max Headroom.
“The RCMP is the Canadian equivalent of the FBI.”
The RCMP is the Canadian equivalent of fat, slow seals about to be eaten by polar bears.
The fat RCMP seals are only safe within the confines of the fascist island known as Ottawa.
The assets of anyone who has a deposit in a Canadian Bank are at risk. Just because they only hit a few (how do we know that's true?) this time, doesn't mean they won't hit more next time. I certainly will not put any deposits in a Canadian financial institution.
I even have concerns about holding Canadian stocks. I have less confidence in them now than I did a week ago. For right now I assume that I can always sell them on an American exchange the way I bought them, but a little questioning voice wonders if the Canadian government could order the companies to block the transfer.
Very possible. She is a very bad player. I saw somewhere that she is married to someone at the NYT.
You can seen the fanaticism in her eyes and body language.
What do you recommend?
Don’t forget the ‘fighter for the underdog’, the ‘defender of the poor, forgotten, and downtrodden’ the leader of the NDP, Jagmeet Singh, who is ALSO a YGL alumni.
I believe that quite a few socialists will turn from the NDP.
“Even a rabbit fights back when cornered.”
And even the rabbit is better armed than the freak leftist weenies in the deep state who can’t figure out which bathroom to use.
A coffee can
hehehe
“I don’t consider blockading border crossings or closing down public right of ways as an acceptable form of political speech.”
Meanwhile, your dear, fascist buddy Trudeau thought Indians blocking roads in India to be proper and okay.
Remember when Canadian PM Trudeau supported a massive protest that shut down a nation’s capital? The NY Times does, and it’s calling him out for his blatant double standard
https://www.theblaze.com/furnace/canadian-pm-trudeau-backed-massive-protest-in-india
You’re quite a piece of work, hypocrite.
It is quite educational, as to what is necessary to secure your own finances.
Crypto keys need to be held on your person, Gold, silver, and cash need to be maintained in person.
Banking can be conducted overseas in more lawfully bound countries.
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