zg7666 Posted March 31, 2013 Share Posted March 31, 2013 http://www.globalresearch.ca/depositor-haircuts-spreading-canada-endorses-cypriot-financial-harshness-ottawas-proposed-bail-in-regime-for-important-banks/5329175 Dear friends from Canada I hope you are prepared. Link to comment Share on other sites More sharing options...
Existing Alternatives Posted April 1, 2013 Share Posted April 1, 2013 Thanks for pointing this out. Canadian financial system has now officially became an extension of government (unofficially it has been one for a long time). I was not aware of the “ability to re-capitalize the deposits” – very re-assuring /s. Interestingly enough, this ability only applies to “Systemic” banks, which in Canada are known as Big 6 (and who control vast majority of the financial assets), but not to smaller players. Very similar situation to Cyprus. Kind of makes sense to consider moving one’s deposits to a smaller bank. Too bad ING is now part of BNS. Link to comment Share on other sites More sharing options...
zg7666 Posted April 2, 2013 Author Share Posted April 2, 2013 You're welcome. I hope this Cyprus scenario will not happen, but it is good to be informed and prepared. All the best. Link to comment Share on other sites More sharing options...
masonman Posted April 2, 2013 Share Posted April 2, 2013 All I can say is..... Hard assets, hard assets, hard assets.... and maybe some Bitcoin Link to comment Share on other sites More sharing options...
zg7666 Posted April 3, 2013 Author Share Posted April 3, 2013 I can't argue with that [] Link to comment Share on other sites More sharing options...
Recommended Posts