Ottawa weighing plans for bank failures

Ottawa weighing plans for bank failures

First off, I would like to apologize if this has been posted prior to now, I ran a search but did not find anything, however if you mods need to close this or delete it I understand.

link to the CBC story
It would seem that our government up here in Canada is making prepartions for the collapse of the banking system. I don't want to go into a lot of detail in this post but I highly recommend reading the article. I'm certainly not trying to instill fear of a financial collapse here in Canada but this is definitely an interesting read for sure, and I do understand the goverment has to be prepared just in case.
I just wanted to bring this to light as not many people may be aware of this.

Buried deep in last month's federal budget is an ambiguously worded section that has roiled parts of the financial world but has so far been largely ignored by the mainstream media.
It boils down to this: Ottawa is contemplating the possibility of a Canadian bank failure — and the same sort of pitiless prescription that was just imposed in Cyprus.

OptimusSubprime posted this thread posted on 27-3-2013 @ 11:12 PM

He was saying that the wording in the budget says they can do the same here as they did in Cypress:

the official 2013 Canadian budget contains an explicit provision that Canada will pursue the bail-in model for systemically important banks for future bank failures

His thread goes hand in hand with yours.

I personally keep less than 10 bucks in my account at any given time. We work hard for what little we have, I'll not have everything stolen by men in suits!

Love this quote from the article in your OP...

While officials in Ottawa are playing down the possibility of a raid on the bank accounts of ordinary Canadians, they chose not to include that guarantee in the budget language.

reply to post by Invariance


It is astounding how mum the MSM has been on the BRIC's nations coming up with a plan to replace the IMF and world bank.

It's coming.... How will it effect our daily existence? Will the gas still flow? Will people go to work? Will all the utilities shut down?

I guess I should add --- will ATS still be on the internet so that we can have someone post what is happening in their little corner of the world?

Well, if you go to bed one night with your pay cheque in the bank and wake up the next day with no money... how would you eat?

Especially people who get paid every two weeks, no gas means no work. I'm surprised there wasn't that much resistance or back lash in Cypress... I'm telling you, that I know quite a few people who live hand to mouth and if they woke up one day to their meager savings gone... it would not be a very pretty sight!

WHO gave bankers the right to steal from us because they screw up their budget? If I owed the bank, I certianly wouldn't be able to rob it to pay my hydro bill!

I don't know where they get off with this scam, but that's all it is.

Simple solution; keep your money out of the bank in small bills... you need small denominations when the SHTF anyway.

There are tons of hiding places to store your money... either places to complicated to get into for a thief, or places no one would think of looking... like a soup can in your pantry with the rest of your soup or in the bottom of your first aid kit... in a zip top bag in your frozen vegetables in your freezer

Get creative

Already took most of my money out, I leave enough in to pay the bills.

I am a silver / gold bug, prepper as well.