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

 

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.

If I was a betting person, I would bet half my stake that something very serious is happening in the background of the Canadian financial system, and it appears the leaders inside government, as well as leaders in the international financial community, are reacting and trying to keep things quiet.  Stick with me on this and stay elevated…

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.  (more...)

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

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