‘Twas the banks that made Trudeau back down

It seems that his blatant power grab via the “Emergencies Act” scared LOTS of Canadian citizens….

The freezing of bank accounts (and other property) caused LOTS of folks to decide to withdraw monies from Canadian banks and open accounts in the US. Leaving the (some) banks at close to insolvency. 

What with modern internet banking, there is no reason to have your money in Canada…you can use credit cards to pay most of your bills, and transfer what monies you need for cash or checks to a local account via wire transfers or ACH. Better to keep it in the US where (so far, at least) the Rule of Law still exists….

I am told that in excess of 850 million dollars was moved to new accounts out of the country in the 2 days by private individuals. This frightened the banks greatly.

I expect that the trend of withdrawals will continue, and that the damage to the bank’s solvency will not recover in the near future.


2 thoughts on “‘Twas the banks that made Trudeau back down

  1. Hopefully, turdoh was greatly frightened when the banks started screaming and hollering. He certainly had no trouble telling the great unwashed masses to pound sand. The great unwashed masses said screw you in a way only monied people can understand. They took their toys to another playground.

    Over 3/4 a billion dollars disappearing certainly got their attention. Hopefully more people take their money and run.

  2. So when is their next election? When do the citizens get the chance to oust this buffoon. And the bigger question…..is there anyone waiting in the wings that is better?

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