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View Full Version : Canada, Greece 2.0

BigRedJeep
03-24-2016, 09:31 PM
Seen it spiralling around on Facebook. And decided to look for myself...
Anyways look down on page 223-225 on the federal budget 2016. It's called the bail in regime. And states that a failing bank can have the power to withdraw money up to 10% from your bank account. And trade for stocks in the obviously failing bank. Essentially what happened and failed in Greece. Good lord when will the insanity end!!!??!?

Keep in mind it's not law yet but a proposal. Canada is soon to be dead.
Crankbait
03-24-2016, 09:42 PM
stateside Wells Fargo was given a ranking of "Sell". Sorta related and not, there is talk of another bailout.
Shepard..
03-25-2016, 03:53 AM
Seen it spiralling around on Facebook. And decided to look for myself...
Anyways look down on page 223-225 on the federal budget 2016. It's called the bail in regime. And states that a failing bank can have the power to withdraw money up to 10% from your bank account. And trade for stocks in the obviously failing bank. Essentially what happened and failed in Greece. Good lord when will the insanity end!!!??!?

Keep in mind it's not law yet but a proposal. Canada is soon to be dead.

Thats just a conspiracy!!!!LOL.. Life has to be black and white.

Scary times indeed..:bad_boys_20:

http://www.zerohedge.com/news/2016-03-21/soon-after-we-sounded-alarm-canadas-regulator-warns-local-banks-are-underreserved-en
HighlandHeart
03-25-2016, 08:34 AM
This proposal has been floating around for a while.

https://ca.finance.yahoo.com/blogs/balance-sheet/ottawa-clarifies-cyprus-style-bail-language-federal-budget-195829237.html
BigRedJeep
03-25-2016, 09:01 AM
How are we as a country this stupid? The system of money is broken.
raab
03-25-2016, 09:15 AM
This came in under Harper, and I believe it was that they could seize any of your deposits over 100k when brought in.
fishtank
03-25-2016, 12:13 PM
This came in under Harper, and I believe it was that they could seize any of your deposits over 100k when brought in.

iam safe:sHa_shakeshout:
mich
03-25-2016, 01:24 PM
This came in under Harper, and I believe it was that they could seize any of your deposits over 100k when brought in.

Harper wrote the 2016 budget? Please quit
whiteout
03-25-2016, 01:37 PM
Harper wrote the 2016 budget? Please quit

It WAS mentioned in the 2013 budget.

Anyway, it doesn't target depositors money. It would be the bank having to set aside their own money for a rainy day. The current iteration looks like it would all them to convert some long term debt into shares to raise money.

Nowhere does it say they would take 10% of depositors money.
the.tru.albertan
03-25-2016, 01:58 PM
Trudoh likes to spend recklessly. And take away peoples child benefits.
Shepard..
03-25-2016, 04:35 PM
It WAS mentioned in the 2013 budget.

Anyway, it doesn't target depositors money. It would be the bank having to set aside their own money for a rainy day. The current iteration looks like it would all them to convert some long term debt into shares to raise money.

Nowhere does it say they would take 10% of depositors money.

It starts that way and depending on how bad the situation deepens the more like op said, greece 2.0..Withdraw restrictions, Collectors taking anything owned by banks, or the FEDs and no hoarding Cash..Cash must remain in the banks..RFLMAO..hell thier even talking of a cashless society. LoL..

Who writes the crap can change it and Turd "O" obviously would allow it..