Canada banks are dicey?

This guy says that one of his sources has been told by a military friend to get your money out pretty quickly if Trudeau keeps going the banking system will go down. The bail in-laws will be enacted, and you will have your cash rationed. They could be part of the Reset, as it is political decisions that have brought us to this point so far. Freezing Truckers' bank accounts have made it obvious that if a financial system has third-party risk, it will be a problem at some stage. I will just leave the YT addy as in the comments one guy wanted to sell but the buttons were missing, and he is worried, as they haven't the cash for a bank run. www.youtube.com... There was really no need to enact draconian emergency laws for a legal trucker demonstration, but if the Banks are in trouble, the system at the moment cant do a China and change the rules on a dime. So this could be the real reason.

This is why I urged people a year ago to move cash out and then use the other half to love to a local credit union no big conglomerates....though it doesn't guarantee safety it gives you several layers of protection from the huge bank super corps. I know people hate Glenn beck but once again he's right on what these elites were going to do w peoples access to money when they started getting heavy handed...

I advise you to buy his latest book or borrow it and soak it up like a sponge and go and find his channel on YouTube and watch everything you can from the last 3 years....further if you have the time. It's all coming to pass

Not sure what to do with money when it becomes relatively worthless anyway
might as well make use of it while it still has some worth.

a reply to: all2human


Just transfer it over into an asset, baked beans, Gold Silver, anything but too much cash. Whiskey, wine is all trade goods.

a reply to: anonentity

That guy is Jordan Peterson, I would take anything he says at nearly 100%.

I'm not saying he's right about it, but I have no doubt he was told this.

Banks are all sketchy. I don't see a way around using some financial institution for daily life in the 1st world, not without significant impacts on your life.

The only real thing the banks can do is refuse the government and they'd probably suffer significant lawsuits, potentially criminal. This is enabled by terrorism legislation, among other things. We gave western governments broad, sweeping, and dangerous powers. We didn't fight when they passed these overly broad laws on money laundering and know your customer. If things are going to change it starts in government, not the banks.

a reply to: ManBehindTheMask
Credit unions are bound by the same rules.

a reply to: Ksihkehe

A working economy is simple, enough cash, not too little not too much circulating, That's the velocity. They have destroyed this, Small businesses can't get going to create a self-sustaining system. That's what happens when the big Corporations form a cartel.

All it needs is someone to reinvent money and we are away again. I suppose it was in the wind when a supermarket started, the small businesses closed accordingly, and the steady mop-up has taken its place ever since. A skilled mechanic could keep a certain type of car going forever. But now they have turned into fitters just replacing hardware. Soon to be banned as climate destroyers. Although they could be run on biodiesel. The electric cars will just need their tires replaced. Everyone will be at home on UBI in meta reality a cheap reality. Where no one will get off the couch.

a reply to: anonentity

Yes, the banks here do whatever the government says with gusto.

Get your money out of the bank and turn it into useful things, before they steal it all.

Jordan is a Canadian Hero IMO.

originally posted by: MykeNukem
Get your money out of the bank and turn it into useful things, before they steal it all.

First, if someone is keeping large sums of money in a checking/savings account they're an idiot. You might as well just take that and give your friends nearly interest free loans.

Second, if someone tells you to take that money out and buy gold/silver or the precious metal de jour, they're also an idiot and anyone who listens is an even bigger idiot.

I hope the Canadian government has some way of compensating the "police officers" that they just utilized to tamp down the Truckers Protests, otherwise....maybe Trudeau majored in crowd control in university? Did Klaus Schwuab run a mini course on event management at the WEF Young Oligarchs academy?

My working theory is that the police that helped disband the Truckers Protest were not imported UN troops or mercs; it was just made crystal clear that if they didn't cooperate in trampling the truckers, they'd be fired. No paycheck. Money is powerful motivator. I'll defer to others that were on site, Mr. Nuke'em, and others, but that was just my SWAG. No CT needed to explain that.

That said, if there is no working financial system to pay the police, then what incentive do they have to put themselves at risk to break up the next protest?

I hope this is completely false, as something like this will undoubtedly spread beyond Canada, although having Trudeau flee Canada in fear of his safety would provide some measure of guilty pleasure.

originally posted by: anonentity
a reply to: all2human


Just transfer it over into an asset, baked beans, Gold Silver, anything but too much cash. Whiskey, wine is all trade goods.

Not to mention toilet paper.

Cheers

originally posted by: AugustusMasonicus

originally posted by: MykeNukem
Get your money out of the bank and turn it into useful things, before they steal it all.

First, if someone is keeping large sums of money in a checking/savings account they're an idiot. You might as well just take that and give your friends nearly interest free loans.

Second, if someone tells you to take that money out and buy gold/silver or the precious metal de jour, they're also an idiot and anyone who listens is an even bigger idiot.

I don't remember mentioning gold or silver or chequing or savings.

Just banks, period.

a reply to: AugustusMasonicus

Ok, I'll bite. Where do the "non-idiots" put their money?

originally posted by: MykeNukem
I don't remember mentioning gold or silver or chequing or savings.

Just banks, period.

I didn't mention you, I said 'they', as in the people suggesting that.

originally posted by: SleeperHasAwakened
Ok, I'll bite. Where do the "non-idiots" put their money?

An S&P DRIP fund has outperformed nearly all other types of investments for decades.

originally posted by: AugustusMasonicus

originally posted by: MykeNukem
I don't remember mentioning gold or silver or chequing or savings.

Just banks, period.

I didn't mention you, I said 'they', as in the people suggesting that.

Gotcha.

Yea, I wouldn't recommend gold or silver either. I can't see how that would be useful if SHTF, I'm not trading my steak for a chunk of shiny metal, lol.

originally posted by: MykeNukem
Gotcha.

Yea, I wouldn't recommend gold or silver either. I can't see how that would be useful if SHTF, I'm not trading my steak for a chunk of shiny metal, lol.

Agreed. I also don't see how all these rumors, and that's all they are, about bank runs is going to lead to anything other than some people sitting on useless cash at home.

a reply to: AugustusMasonicus

Ok, fair. mutual funds are a good investment vehicle. You can dollar cost average without needing a fund. My Fidelity accounts allow re-investing dividends without being in a DRIP.

But, if one already has a significant part of their portfolio in funds, not diversifying sounds pretty risk.

If you have a pretty good sized nest egg, and at least some chunk of it's not liquid, that's probably not that smart either.

originally posted by: AugustusMasonicus

originally posted by: MykeNukem
Gotcha.

Yea, I wouldn't recommend gold or silver either. I can't see how that would be useful if SHTF, I'm not trading my steak for a chunk of shiny metal, lol.

Agreed. I also don't see how all these rumors, and that's all they are, about bank runs is going to lead to anything other than some people sitting on useless cash at home.

Rumours, exactly.

If there was mass freezing of accounts here, mine would be in the Top 100. I'm still accessing and transferring money without issue. I think the number was something like 700 frozen accounts, that's the truckers and organizers. Drop in the bucket. There hasn't been mass freezing of accounts and there won't be a mass bank run either.

Unless Trudeau does more stupid things with his Emergencies Act I guess.

I still recommend useful things over money, but that's just me.

originally posted by: SleeperHasAwakened
If you have a pretty good sized nest egg, and at least some chunk of it's not liquid, that's probably not that smart either.

Why? You can instantly sell shares and have the proceeds available for purchase or transaction. It's stupid to pay for things in cash unless the merchant does not accept credit. With the plethora of cash back and rewards cards you end up making out on the deal by using them and then paying off the balance at the end of the month.