patrick.net

https://www.armstrongeconomics.com/international-news/canada/trudeau-backs-down-after-banks-scream-about-massive-withdrawals/?source=patrick.net

The sheer amount of money withdrawals from Canadian banks was massive. There appears to have been a 500% increase just in the previous 24 hours. This is the problem with politicians. They are simply UNQUALIFIED to make such decisions. They have no idea that freezing accounts will undermine the confidence in the banking system,

Trudeau has created a very serious crisis and just rescinding his Emergency Act is not going to make it all better. Trudeau has driven a stake through the heart of the Canadian economy and that means that international capital will be skeptical about trusting Canada as long a Trudeau is in power.

I'm not sure anyone will ever perceive Canadian banks as safe again, because they have been proven to be a very dangerous place to put money.

And all banks, by extension, are now suspect.

Patrick says

And all banks, by extension, are now suspect.

YES! Now our true enemy has revealed himself. Trudeau opened Pandora's box. He's done more to expose central banks than even Ron Paul.

Speaking of, where is a good place to have a bank or brokerage account? Is swiss sill good, or did I hear that their ironclad status was fractured some years back?

I think over the next decade, its time for me to diversify some of my assets to some other countries. It would be terrific if I could maybe just fly to some other country w/ cash to fund a set-and-forget-it brokerage account that will serve as a backup retirement nest egg after it compounds for decades.

These puppets aren't there to benefit the people. They are there to oppress, undermine and weaken the country by any means. Klaus and Soros say: "Perfect".

https://rwmalonemd.substack.com/p/did-justin-trudeau-just-destroy-social?source=patrick.net

Back on point, it seems that both working class as well as high net worth people really do not like the threat of having their money stolen or frozen by government bureaucrats on a political crusade. Who would have guessed? So, what to do when what you previously thought was a safe harbor turns out to be plagued by arbitrary and capricious currents? Get out of there, pronto. So, there we are. When the geniuses at the WEF meet to game out the “lessons learned” from Justin and Chrystia’s short sharp shock, what are they going to conclude? Will they conclude that “The fault, dear Brutus, is not in our stars, But in ourselves"? Highly doubtful. My guess is that they will decide that the fault lies in having moved too fast, and that the Overlords should told their apparatchiks to stick to the incrementalist “boiling frog” strategy.

Now, was there any foreshadowing that could have alerted them to this little problem? Well, to be blunt, yes. Have you noticed how bicoastal real estate (and farmland) prices seem really inflated? What’s going on there? A case can be made that what is happening is that foreign investors – particularly private money with origins in the People’s Republic of China (much of which has been parked in Canada), is looking for shelter in real estate markets. See, if you are a Chinese billionaire (and there are lots of those), you have a problem. At any moment the PRC can decide that your social credit score (or that of your company) is in default, and the Central Communist Party can seize your funds. What’s a rich heiress to do? Seek shelter offshore. Even if you take a 50% haircut due to an “adjustment” in valuation of inflated offshore real estate, you are still ahead of having all of your money stolen by some arbitrary bureaucrat on a mission to impress his (yes, I intended to use that gender) superiors. And when your portfolio manager discovers that Canada is going full PRC by weaponizing their banking system for political purposes? Well, what would you do? I think that “Get the H___ out of Dodge” is pretty much the universal answer. Resulting in a cascade of economic badness that threatened to completely crash the new Totalitarian Canada. That one did not even require a Harvard exchange program degree in Russian history and a background in journalism to figure out.

Hircus says

Speaking of, where is a good place to have a bank or brokerage account? Is swiss sill good, or did I hear that their ironclad status was fractured some years back?

Bury metal coins

Edit: and of course, CANNED YAMS!

Hircus says

Speaking of, where is a good place to have a bank or brokerage account? Is swiss sill good, or did I hear that their ironclad status was fractured some years back?

I think people still use Swiss, but I remember a few years back US expanded their reporting requirements on offshore assets, so depends on who you're hiding it from. Honestly, your best bet is probably to find a small bank near your home where you can meet the upper management and get a feel for what they would do given a situation like Canada's. You might be surprised. I know there are hard currency IRA's, that will physically deliver the coins if you so desire.

The world is waking up to the realities of centralization, and she's a fuck-ugly bitch.

AmericanKulak says

Bury metal coins

Bury PRECIOUS metal coins. Throw them in a big chest with jewelry and other valuables. Bury the whole thing at least 5 feet deep.

Don't forget to make a map of where you buried it.

Hircus says

brokerage account? Is swiss sill good, or did I hear that their ironclad status was fractured some years back?

Liechtenstein if you have over 10M

Onvacation says

Don't forget to make a map of where you buried it.

And mark the spot on the map with an X.

Bd6r says

Liechtenstein if you have over 10M

Is doable...I'm only $9,950,000.00 short. I heard if I buy 1 bitcoin, i should be able to fund that account next week.

AmericanKulak says

Edit: and of course, CANNED YAMS!

What's the deal with yams..lol....I'd rather have beans...lol

Patrick says

You forgot the Jan insurrection where AOC almost got raped.

komputodo says

.I'd rather have beans...lol

Are you trying to save on heating?

I went to two separate branches of my bank today in an attempt to cash my checks. The first one would only do up to $3,000, no hundreds. The second one would only do $2,000, and required I take some fifties and twenties. I bank at a county credit union. So far this is the worst I've seen it. Had to deposit a couple thousand I'm hoping to withdraw tomorrow.

I don't think a collapse is imminent, but I don't see how we'll last the year.

A guy I subscribe to for financial commentaries wrote in his email last night that a reader from New Mexico contacted him giving a similar story to mine. I've always been of the opinion that protests are mostly a waste of time. But on this one I was wrong. Some truckers hot tubing in Ottawa may just take down the central banks.

Couldn't they just bank run now until they get Trudeau out - and mandates lifted etc. The place where the true power lies is now very clear. I even heard all they have to do is move to a CU which can't be nearly as easily siezed.

tanked says

Couldn't they just bank run now until they get Trudeau out - and mandates lifted etc. The place where the true power lies is now very clear. I even heard all they have to do is move to a CU which can't be nearly as easily siezed.

We pivoted seamlessly from "Mask Up or you're killing Grandma, you traitor"

to

"Mount Up and fight in the Steppes to save Baba Milena's house, you traitor"

https://t.me/Qtah_17/9404

AmericanKulak says

tanked says

Couldn't they just bank run now until they get Trudeau out - and mandates lifted etc. The place where the true power lies is now very clear. I even heard all they have to do is move to a CU which can't be nearly as easily siezed.

We pivoted seamlessly from "Mask Up or you're killing Grandma, you traitor"

to

"Mount Up and fight in the Steppes to save Baba Milena's house, you traitor"

They did, if they were willing to drive 3000 miles and occupy Ottawa for weeks in -22F, surely a bank run protest effort is easier and way more effective at this point.

Took out more cash today. Third different branch where I've encountered limits this weekend. The teller said they thought it was related to Ukraine, and it was only affecting their east county branches. If I'm gonna worry about my money in the bank, it's because of Canada, not Ukraine. And what I know about east county is it's a lot of people who don't live in the city, and don't trust government. Canary in the coal mine? An early warning at least.

Interesting

I bet the story behind this is very interesting, and is somehow involved with Banks and Cash and Russian Oligarchs and strange special financial vehicles

komputodo says

What's the deal with yams..lol....I'd rather have beans...lol

Running joke here that may have originated before you got here. Should be yams and ammo.

Booger says

komputodo says

What's the deal with yams..lol....I'd rather have beans...lol

Running joke here that may have originated before you got here. Should be yams and ammo.

... and Beltfed

Just got an email from my bank telling me how "safe and sound" my money is. Their exact words. When banks start telling you there's nothing to worry about, and you will always have access to your money, that's never a good sign.

I agree. When the bank is trying to reassure you, you should be worried.

Never believe something until it's been officially denied.

"There's no problems with your money! We're not on the verge of needing bailouts, that's crazy conspiracy theorist rhetoric."

https://piped.kavin.rocks/watch?v=2FuJBTcTJn0&source=patrick.net

Democracy Doesn't Work Unless Citizens Think for Themselves

Dr. Julie Ponesse is joined by law professor and Rights Probe Executive Director Bruce Pardy to discuss the state of freedom in Canada, why autonomy and civil liberties have lost their footing, and where the collectivist approach to law came from.

About Bruce: https://www.rightsprobe.org/about?source=patrick.net

If you believe civil liberties are important, then please check out the new book by The Democracy Fund's Pandemic Ethics Scholar, Dr. Julie Ponesse.

The book is called "My Choice: The Ethical Case Against Covid-19 Vaccine Mandates"

https://www.mychoicebook.ca/?source=patrick.net