Wrong.
We are, according to the IMF, actually the third worst of the G7 countries, behind the US and Britain, in terms of financial stabilization costs.
First, we put up $70 billion to buy up iffy mortgages from the big five banks, through the Canadian Mortgage and Housing Corporation, taking them off the banks’ balance sheets. That is almost the exact equivalent the US bailout – it spent ten times as much, $700 billion, and its economy is about 10 times as large.
Secondly, the Harper government established a fund of $200 billion to backstop the banks – money they could borrow if they needed it. The government had to borrow billions – mostly from the banks! – to do it. It’s euphemistically called the Emergency Financing Framework – implying that our impeccable banks might actually face an emergency. It is effectively a line of low-interest credit and while it has not all been accessed, it’s there to be used. Could it help explain why credit has not dried up here as much as it has in the US
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$930-Million Security Tab to be Incurred by Canadians For The Upcoming G8 and G20 Summit
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$930-Million Security Tab to be Incurred by Canadians For The Upcoming G8 and G20 Summit
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If the Oligarch banksters could get their Bank of the World by just bringing down only the USA they would. Alas, they must destroy all the fiat currencies around the globe.
ReplyDeleteBuy silver. Buy gold. Get rid of as much paper as possible.
Well, I called my wife to read this article and I will rehash what I said leaving out the interspersed profanities that seem to drag down so many
ReplyDeleteotherwise good blogs.This really has my blood boiling.
I DON'T remember seeing or reading about these effectively tax payer ripoffs in the main stream media. All I keep reading is how Canada is a safe haven country with a sound currency.
First a bank like CIBC can offer mortgages for "self employed" that do not need income verification because the CMHC will insure it.
Then Canada employs quantitive easing to lower the value of our dollar.That's debasing any savings you may have, also known as theft.
The recepiants of that Q.E. is rightly the taxpayer, so where is it?
Lately Canada has saw fit to trade 30 billion CDN for euros without debate to save a sinking European economy.
Now our government has seen fit to backstop the banks to the tune of 200 billion!
Because in Canada, even with Obama, Canada is an even worse socialist dictatorship. Thats why Canadians are so unaware.You get to know about it from the American media.
So, should I write my MP? I have an even better idea. Vote with your wallet. Buy gold by selling CDN dollars, because Canada's central bank is run by a Goldmanite named Mark Carney, and it has 0 gold reserves.
Which means our dollar is totally fiat and backed by illusions. Shop in the US where you get better value for your money.And prepare for some very hard times when reality finally hits the great white north
When; exactly would that reality be setting in ?
ReplyDeleteA month ?
Two ?
A year ?
Two ?
Five ?
Ten ??
You will drive yourself fucking crazy trying ( key word for forget it ) to figure this mess out & I guarantee you - whatever provisions you make ?
They will be the wrong ones !!!!!!!!!!!!!!!!!!!!
Housing crash in Canada is a given. Check this link out:
ReplyDeletehttp://globaleconomicanalysis.blogspot.com/
Oh Canada
ReplyDeleteOh Canada
3:55 when it hits you in the face...TOO LATE
ReplyDelete355 most people that prepare have made the right choices, you who are not, not so much
ReplyDeleteI think what 3:55 was trying to say (I could be wrong) is that everything is so very unpredictable to begin with that when people analyze all the "symptoms" they essentially become blind to the overall condition.
ReplyDeleteWhile many who prepare (a discriminating portion) will be better off than the great majority, it may be so that some people out of those who didn't prepare might somehow do better than a few of those who did prepare (attempted to).
The best thing to do is not analyze all the many little things happening, which are huge problems on their own, and try to see things as a whole so that everything becomes simplified. By doing this all the new events that take place will be more comprehensible and one won't even need to pay attention anymore.
Thank you for this post. It really did caught my attention and continue reading til the end. The information I got from here really did help me out somehow.
ReplyDeleteTagged: bank reviews