Canadian Banks shut down.

A

Authentic Nouveau

Well-known member
A number of Canada’s banks are now reported to be ‘offline’ amidst a political crisis caused by Prime Minister Trudeau’s reprisals on the peaceful Freedom Convoy protest. Canada’s largest banks are all offline. Royal Bank, BMO Bank of Montreal, CIBC Bank.
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So when they raided a couple of protestor friendly accounts, Herr Justion ordered banks close accounts for people financing protests. I predicted this.

I know too much about shutdowns. I shared an office building with the FDIC in the 80's during their bank closing spree. I had banking friends buy closed banks and saw huge turnover of their employees. The FDIC hired 50 a month and yanked them around and it took close to 2 months for them to draw their first pay check. Many quit in a week or two.
A Canadian bank is not a safe place for an account.
When word is out a bank is "offline" people panic even more.
My company opened an office in OKC and a large bank shut down. Lot of companies couldn't make payroll and pay bills. Lot of companies couldn't collect money.
theparadise.ng/canadas-major-banks-are-now-reported-to-be-all-offline-after-trudea…
· “SHOCKING: Canadian banks are now allowed to suspend any account for any reason if they think the money is furthering the interests of freedom.
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Authentic Nouveau said:
So when they raided a couple of protestor friendly accounts, Herr Justion ordered banks close accounts for people financing protests. I predicted this.

I know too much about shutdowns. I shared an office building with the FDIC in the 80's during their bank closing spree. I had banking friends buy closed banks and saw huge turnover of their employees. The FDIC hired 50 a month and yanked them around and it took close to 2 months for them to draw their first pay check. Many quit in a week or two.
A Canadian bank is not a safe place for an account.
When word is out a bank is "offline" people panic even more.
My company opened an office in OKC and a large bank shut down. Lot of companies couldn't make payroll and pay bills. Lot of companies couldn't collect money.
theparadise.ng/canadas-major-banks-are-now-reported-to-be-all-offline-after-trudea…
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The banking system is based on trust. Trudeau and his allies are working to destroy trust by their over-the-top response to peaceful protests.
https://twitter.com/x/status/1494092820260532227

Caution: Video links in the article below contain crude language:
citizenfreepress.com

This is the psychotic freak who hacked GiveSendGo… You have been warned…

His name appears to be Aubrey Cottle.
citizenfreepress.com citizenfreepress.com
 
Authentic Nouveau said:
So when they raided a couple of protestor friendly accounts, Herr Justion ordered banks close accounts for people financing protests. I predicted this.

I know too much about shutdowns. I shared an office building with the FDIC in the 80's during their bank closing spree. I had banking friends buy closed banks and saw huge turnover of their employees. The FDIC hired 50 a month and yanked them around and it took close to 2 months for them to draw their first pay check. Many quit in a week or two.
A Canadian bank is not a safe place for an account.
When word is out a bank is "offline" people panic even more.
My company opened an office in OKC and a large bank shut down. Lot of companies couldn't make payroll and pay bills. Lot of companies couldn't collect money.
theparadise.ng/canadas-major-banks-are-now-reported-to-be-all-offline-after-trudea…
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At least Brandon has the excuse of being an old idiot. What's Justine's excuse?
 
Theophilos said:
The banking system is based on trust. Trudeau and his allies are working to destroy trust by their over-the-top response to peaceful protests.
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They thought they could choke a few protesting rebels. But now nobody trusts the banks and they run starts.
A bank holds very little cash and their assets are the loans to ...........truckers.
So they lock up a trucker account, he can't pay the loan on the truck, and they repo the truck and no buyers because other truckers don't get the clot shot.

Most politicians do not understand the economics chain reaction.
 
Authentic Nouveau said:
They thought they could choke a few protesting rebels. But now nobody trusts the banks and they run starts.
A bank holds very little cash and their assets are the loans to ...........truckers.
So they lock up a trucker account, he can't pay the loan on the truck, and they repo the truck and no buyers because other truckers don't get the clot shot.

Most politicians do not understand the economics chain reaction.
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Yes, the law of unintended consequences appears to be taking hold. The state-controlled media in Canada and the US has smeared anyone who to Trudeau's attacks on Truckers and their donors as "right-wing extremists".

I guess Congresswoman Omar is now right wing:
 
Trudeau and the liberals have lost the plot.
Just watched Trudeau make accusations about the swastica and his colleagues lecture those he accused.

They have their own imaginary woke world.
 
BMS said:
Trudeau and the liberals have lost the plot.
Just watched Trudeau make accusations about the swastica and his colleagues lecture those he accused.

They have their own imaginary woke world.
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So American Banks have a 10% reserve requirements. They can loan out 90% and 10% held in reserve, with State banks keeping deposits at Federal Chartered banks. Canadian banks have no reserve requirements. In America a bank gets a "notice" if their reserves for nonperforming assets drops and their reserves get low. Canadia has an unstable banking industry like China. What happens when bank cards get declined when people buy groceries the truckers have not delivered?

The next consequence. Trucker gets his truck impounded and his bank account raided. He stops loan payments. Bank is now a trucker with a repo. The bank has to cover the loan and the buyer of the repo truck causes a "writedown" of bank assets.
 
Authentic Nouveau said:
So American Banks have a 10% reserve requirements. They can loan out 90% and 10% held in reserve, with State banks keeping deposits at Federal Chartered banks. Canadian banks have no reserve requirements. In America a bank gets a "notice" if their reserves for nonperforming assets drops and their reserves get low. Canadia has an unstable banking industry like China. What happens when bank cards get declined when people buy groceries the truckers have not delivered?

The next consequence. Trucker gets his truck impounded and his bank account raided. He stops loan payments. Bank is now a trucker with a repo. The bank has to cover the loan and the buyer of the repo truck causes a "writedown" of bank assets.
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I think a bigger immediate threat is that people are seeing that bank deposits can disappear instantly based on the whims of Trudeau and his cronies in Ottawa.

Cash in a mattress is becoming an attractive investment alternative compared to letting Trudeau steal it.

What happens when large numbers of people suddenly decide they need large amounts of cash from their bank accounts?

www.vox.com

These photos show how Greece is falling into a deep financial crisis

Bank ATMs remained open in Greece, only to dole out a small amount of money (60 euros, or about $66 USD) a day, per person.
www.vox.com www.vox.com
 
I had no trouble accessing my online TD Bank account either yesterday or today.

Incidentally, TD Bank is now the 8th largest bank in the US by assets.

All of Canada's "big six" banks are moving into the United States. In December of 2021, for example, Bank of Montreal purchased Bank of the West for $16.3 billion (CDN).

On September 30, 2021, Bank of Montreal was the 23rd largest US bank. I believe their December purchase of Bank of the West makes them the 18th or 19th largest bank in the US.
 
Reepicheep said:
I had no trouble accessing my online TD Bank account either yesterday or today.

Incidentally, TD Bank is now the 8th largest bank in the US by assets.

All of Canada's "big six" banks are moving into the United States. In December of 2021, for example, Bank of Montreal purchased Bank of the West for $16.3 billion (CDN).

On September 30, 2021, Bank of Montreal was the 23rd largest US bank. I believe their December purchase of Bank of the West makes them the 18th or 19th largest bank in the US.
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TrooDolt is a despicable Marxist coward,

Bank of the West was sold by BNP Paribas. French bank. You are a distant banking outsider.

Marxists play word games to defend their corrupt ring leader.

How many banks have you audited?
How many banks have you owned stock in?
 
Let's see what the United States Government thinks about the Canadian banking system:

"The Canadian banking system is well-developed and mature, and in general highly conservative and regulated with more stringent rules governing leverage and capital ratios than the United States..."

edit per mod

The above quote came from the following US government webpage:

Canada - Banking Systems
 
Authentic Nouveau said:
How many banks have you owned stock in?
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I do a lot of stock trading, and in the past year I've owned shares in Bank of Montreal, Canadian Imperial Bank of Commerce, Bank of Nova Scotia, and Laurentian Bank. Going back more than a year, I've also owned National Bank and TD Canada Trust. The last remaining major Canadian bank is Royal Bank, and I can't recall with certainty if I've ever directly owned any of their shares.
 
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