On June 22, 2016 Bill C-15 became law along with its controversial “Bail-In Regime”. In the crash of 2008 governments “bailed out” banks with billions of dollars. The next time around banks will be permitted to seize your deposits and exchange them for shares, shares in a failed bank.
Some say that Canadian banks are so strong Canadians don’t have to worry. But the experts say “Canada is in Serious Trouble”. DBRS, Moody’s and Standard and Poors all have downgraded Canadian banks to a “negative” outlook. The Bank of Canada says our housing market is 30% overvalued, Deutsche Bank says 63% and CMHC says 35%. With average house prices now over $1.3 million in Toronto and Vancouver, a crash appears imminent.
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