Less than 48 hrs after the Trudeau regime held a parliamentary vote to pass the Emergency Act, Trudeau was back in front of the cameras to announce that he was revoking the measures as ‘no longer required’. The emergency situation, which he claimed required implementation of the act – various border blockades & occupation of Ottawa, had already been successfully cleared prior to the vote; so what had changed?
There was some speculation that the Senate was not going to ratify the parliamentary vote for martial law, but increasingly, it looks like the overriding reason for walking back the Emergency Act before the ink was even dry, was due to a massive and comprehensive loss of confidence in the Canadian banking system.
As a newcomer to the Supreme Leader Club, Trudeau clearly believed he could freeze the bank accounts of protest organizers and anyone who donated more than $25, and that there would be no blowback for the banking system; that these measures would be accepted as a necessary price of creating his vision of the world’s first pharma-fascist hermit kingdom. Remember, this is the same Prime Minister who also once said: ‘The budget will balance itself.’
Bank Runs: The Price of Tyranny
Instead, both private citizens and major investors starting looking at the political weaponization of the banking system in Canada, and naturally got nervous. Soon after the announcement that the bank accounts of political enemies were being frozen, billions of dollars started flowing out of the country as investors sought a safe haven for their clients. Realizing their mistake, the RCMP and Trudeau regime immediately announced an end to freezing of accounts, but the damage was already done. Trust, as they say, is slow to build, but can be destroyed in a moment.
A Major Backfire – Is the Canadian Financial and Banking System in Serious Trouble as a Result of Their Attack on Private Bank Accounts?
To put these outflows into some sort of context, it is reported that TD Canada alone lost almost $9 billion in the past week.
The MSM and government are not reporting such losses, nor are they reporting on the #BankRunCanada campaign started by convoy protesters in the wake of the Ottawa crackdown, which is encouraging customers to withdraw as much cash as possible from banks in a campaign of economic guerrilla warfare. The capital flight and collapse in trust was commented on by Dr Jordon Peterson during a conversation with the National Post’s Rex Murphy, in which Peterson issued a sober warning in regards to the safety and credibility of Canadian banks post martial law.
The combined effects of large investment capital flight, and economic guerrilla warfare currently being waged by protesters has had an immediate and massive effect on the Canadian banking system, which is now under such enormous pressure from outflows, that withdrawls are limited at most of the big five Canadian banks to $1000 a day.
According to the BIS – Bank of International Settlements in Switzerland, the Canadian banking system is currently the most vulnerable banking system on the planet in terms of debt risk. Trudeau will have been be aware of this, but still this did not stop him from taking measures that would set off a chain of events that have resulted in the banks picking up the phone and pulling the plug on his Stalinist panto before its second night. It’s almost as if the grown ups have returned home and Trudeau has been told to clean up, and go to bed.
Only trouble is, we aren’t done, and we get to stay up all night.