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Trudeau vows to Freeze Protesters' Bank Accounts. #CanadianBankRun Trending.

If you sell silver and gold for a living please send us a note on how you would position the benefits of holding physical silver or gold against the following news.


Government forces can cancel your assets.


It was the shot heard around the world yesterday as journalists scrambled to make deadlines. Hundreds of articles were published such as BBC's "Trudeau vows to freeze anti-mandate protesters' bank accounts." https://www.bbc.com/news/world-us-canada-60383385


#CanadianBankRun is trending on Twitter. Royal Bank of Canada, Bank of Montreal, Toronto-Dominion Bank, and Canadian Imperial Bank of Commerce are not happy with the unrest created by the Trudeau administration but they may also have a lifeline and have some safeguards in place.


Almost all Canadian banks require at least 24 hours notice for more than $2,000 in cash. They also limit daily transfers to $3,000, $10,000 weekly. Consumer wires must be done in person. Now you know who wrote these procedures right? Precisely, the bankers themselves. A run on Canadian banks is a near impossibility. But this still exposes the vulnerability of our banking system in Canada, US & World. Banks have 10% reserves on a good day. If 10,000 people pull out $10,000 that's 1,000,000,000 out of the system. And these reserves are not pristine collateral. They are mostly stocks and mortgages. Withdrawing cash is what hurts them the most.


Under laundering and terrorism finance laws, Canada's Emergency Powers freeze bank accounts while banning crypto and crowdfunding.

 

Some believe all Canadian truckers have to do is NOT DRIVE THEIR ROUTES for a few days and Trudeau will be yanked out of his palace by a pitchfork mob. Truckers have the power. No deliveries = no food or goods.


It is our opinion that Trudeau has no authority to invoke emergency powers for these peaceful protests. Moreover, this exposes the vulnerability of our banking system and drives home the message that holding silver and gold is the best practice going forward.



In related news yesterday, Canadian Civil Liberties Association condemned Trudeau's use of Emergencies Act to target freedom protesters.


https://thepostmillennial.com/breaking-canadian-civil-liberties-association-condemns-trudeaus-use-of-emergencies-act-to-target-freedom-protesters