Canadian Banks shut down.

Reepicheep said:
Yes, you are correct, this is very bad news for the US. Canada is taking the United States to the cleaners in many ways, including in both trade and banking. Thank you for your past, current, and continuing support of the Canadian economy.
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I remember people saying the same thing about Japan when they bought the Rockefeller center at an astronomical price. Funny how they fell silent when it was bought back by American interests at pennies on the dollar.
 
Thistle said:
It's fantastic just so long as you agree with Justin Trudeau! Now if you disagree with Justin Trudeau you're standing with the people who have swastikas and we're freezing your bank account. This juvenile idiot is not mentally stable you can't give him a cut off switch to your banking relationship. Did you hear that scumbag address a conservative member of Parliament who is Jewish accusing him of standing with people who carry swastikas. The man had family that died in German concentration camps. How can you possibly defend a diabolical scumbag like Justin Trudeau?
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He made about 90% in there want to puke and then he tucked his tail and walked out.
As we speak, I suspect a lot of corporations will fade their Canadian activities because of the risk and instability that flared up.
 
Authentic Nouveau said:
He made about 90% in there want to puke and then he tucked his tail and walked out.
As we speak, I suspect a lot of corporations will fade their Canadian activities because of the risk and instability that flared up.
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Trump thought he could lower the US's trade deficit with Canada by insulting Canadians and starting a trade war. His plan failed. The US goods trade deficit with Canada has been rising for years:

2016 - $11 billion (last year Obama)
2021 - $50 billion (first year Biden)
 
Authentic Nouveau said:
He made about 90% in there want to puke and then he tucked his tail and walked out.
As we speak, I suspect a lot of corporations will fade their Canadian activities because of the risk and instability that flared up.
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You would certainly expect so if they had a lick of sense.
 
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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Strange. I wonder what's going on? Was their a run at the bank(people withdrawing their money, so they shut it down)? or are they just trying to shut down all funding from the Convoy?
 
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.
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
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WOW! Im skeptical. He might just be a patsy, being manipulated due to his obvious mental illness........Why isnt he in jail?
 
Reepicheep said:
Yes, you are correct, this is very bad news for the US. Canada is taking the United States to the cleaners in many ways, including in both trade and banking. Thank you for your past, current, and continuing support of the Canadian economy.
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lol
 
Reepicheep said:
Yes, you are correct, this is very bad news for the US. Canada is taking the United States to the cleaners in many ways, including in both trade and banking. Thank you for your past, current, and continuing support of the Canadian economy.
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I do not see reports of this outage in major news sites, and what I can find report there was an outage but have no explanation.
What am I missing?
 
Reepicheep said:
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
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The Biden Administration demanded that Trudeau use federal powers to crush the trucker protests, and he quickly responds with the state of emergency. Washington is calling the shots in Ottawa from what I can see.

nypost.com

Biden urges Trudeau to use fed powers to end bridge blockade

The so-called “Freedom Convoy” protesters blocked the Ambassador Bridge linking Windsor, Ontario, to Detroit for a fourth consecutive day Thursday.
nypost.com nypost.com
 
vibise said:
I do not see reports of this outage in major news sites, and what I can find report there was an outage but have no explanation.
What am I missing?
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Well this is the problem, one doesnt see a balanced view of news on major mainstream news sites and what one does see is biased if one does some reflective research and consideration
 
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?
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Ummmm our banks are way safer than America fractional banking system that lends out more money then they actual have.


Authentic Nouveau said:
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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Banks never lose when there is collateral, unless that collateral drops in value(like a home).

The bank takes into consideration what the trucker already payed on the truck and then sells the truck to make up the difference.
 
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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Royal Bank is by far the biggest bank in Canada. Is it coming to the states?
 
Reepicheep said:
As an aside, five of the 11 largest banks in North America are Canadian Banks. Since Americans outnumber Canadians by a factor of 8.8-to-1, this clearly shows that, in regards to international banking, Canada is punching above her weight.
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It's European elitist banks.
 
Yes they did freeze Truckers accounts(not sure about stealing). Can you imagine when we go digital(meaning no cash money)?
 
wiseones2cents said:
Yes they did freeze Truckers accounts(not sure about stealing). Can you imagine when we go digital(meaning no cash money)?
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I'm not taking "when" for granted. I believe any Republican who would cave on that issue needs to be primary and not be running in the next election.
 
Authentic Nouveau said:
America has criminal laws against deprivation of property.

A socialist commie motive for an electronic economy includes tracing and spying on transactions.
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What about hacking into the GiveSendGo website and doxing the names of all the contributors. Am I the only person who can remember that Twitter took down references to the Hunter Biden laptop on the false pretext that it was supposed to have been "hacked?" How can it be both permissible and impermissible to publish "hacked" information at the same time?

We don't need any more evidence that these are deeply disturbed and despicably wicked people.
 
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