I’m seeing chatter on Twitter from people pulling cash from their bank accounts.
Because obviously, our money is no longer safe in Canadian institutions. And it’s not as if they pay any interest.
They seem very afraid · Gas Jerry cans rolling into Protest Village tonight as I watched. Police watched the guy pull it by so clearly the Emergencies Act so far hasn’t changed the attitudes of either side.
I heard something about credit unions being provincially regulated and as such they’re free from some of this government overreach.
Any truth to this or what are the options here?
I think that’s true
You wouldn’t happen to have a link for that, would you?
Thank you.
Credit union are provincial charters but I think regulated by fed bank rules or in the Least I would suspect provincial regs probably couldn’t supercede fed rules
Will I lose my money?
Thanks.
Yup.
I am happy with my local credit union.
Small is beautiful.
Mind you, I am not exactly a mover and shaker with serious shekels to manage, but they treat me better than any chartered bank ever did.
And may I add…
A year or two ago, the chartered banks were getting on credit unions and saying that they should not be allowed to use the term “banking” etc.
Look it up. It underscores why you should consider that option and fuck the big banks.
It is analogous to comparing MSM with SDA.
Oh, and Fuck TD et al.
Roger…
The beauty of credit Unions is that you’re the owner; there’s no paying out the shareholders before the depositors get looked after. Annual voting for Directors, by all the depositors ( who are the shareholders).
In BC all credit unions come under the oversight umbrella of BC Central Credit. If you feel hard done by you can have your grievance adjudicated by them. I did and they did; very impressed!
By the way, I don’t pay any service charges except Interac transfers.
https://www.sunshineccu.com/why-join
A lot of the profits go back into the community.
(I’ve been a CU member since ’72… I’ll never go back to a bank)
It is true, credit unions are provincial. Fed banking rules do not apply, they are not banks. Anti-money laundering rules, etc. do apply to all institutions (including insurance companies). So the feds do have some grasp but not like they do on the banks. Foreign banks operating in Canada are fed regulated so unless you get a bank account abroad … (a lot of US banking is through state banks, not fed banks)
The best option is for Alberta to separate.
Nope the laws that they operate under are federal. Notably the proceeds of crimes laws that demand a 22 year old interrogate you over any transaction over$10k.
We use the word liberty, we are all criminals now.
“The Bank Act is the primary legislation governing banks and federal credit unions”.
https://www.canada.ca/en/financial-consumer-agency/services/industry/regulated-entities/banks-federal-credit-unions.html
And I’m going to guess your credit union is a member of Canafian Banker’s Association.
if it is a fed credit union
https://www.saskcu.com/about-us/
Credit unions are LEFTWING operations. They are not apolitical.
Example, check out Vancity Savings. Their Wokism will make you blush. They would steal your funds in a heartbeat
Vancity is a pita to deal with now…maybe for the last 20 years or so.
I agree about Vancity…p.i.t.a.
Quelle surprise.
I’m sure the big banks will enjoy their new found celebrity.
So if you have cash in your bank account, where do you put it so that you aren’t in danger of getting robbed of your life’s savings? Just withdraw it and put it in a safety deposit box at the same branch?
Shades of FDR outlawing gold bullion ownership and changing the currency to flush money out of the mattresses and carpets. Until he died my grandfather, who went through the Great depression, kept cash secreted away under the carpet. Is the end game a digital currency? Doesn’t answer your question.
With inflation here, you shouldn’t be leaving any significant cash in a bank anyways. Open a stock broker account. One not affiliated with a bank. Preferably in the US if you can manage that. There are real estate funds that are low risk, yet have good and stable yields like Starwood. Or a utility. Or heck, buy Tesla stock.
Physical gold & Silver. I’m of the opinion it’s a bargain right now and will soon become harder to get, at these prices. Never keep anything of monetary value in a safety deposit box. Should the bank fail the contents of the box fall into the hands of the creditors and good luck in getting them back.
If you were around in the late 70s you’d remember how metals kept appreciating until the US Fed raised interest rates way up. They’re in a deeper hole now and something like that just isn’t an option.
Yes. Gold and Silver are up a tich right now but still way below their highs from not that long ago.
KITCO doesn’t WANT to know your Sin #…just saying.
https://corp.kitco.com/index.html
Put my stack together years ago as a way out of the digital system if I ever needed it. I’m sort of different in that I view pms as insurance instead of an investment. I have no intention of turning them back into paper currency backed by the **cough cough**government of Canada**cough cough**.
You are aware that governments have confiscated gold and silver in the past???? Just how much power do you think the government now has under the emergency measures act? For everybody’s information it is unlimited for people who are afraid of everything. This is what belief in socialism and the government is there to look after us bullshit gets you.
Buddy suggested bullets, if things get really bad they’re to be much more liquid than gold, silver or brocoin..
Of course, it will never get that bad and bullets are…bad?
This was my immediate thought. Your money is not safe in Canadian banks. I’m sure most Canadians don’t think they have anything to worry about as they assume this is just targeting the wrong thinkers. Perhaps this more of a trial run of the coming social credit system. Lets see if they start locking peoples accounts when they get their tax returns. If you can, try and hold your balance as near zero as you feel comfortable. If you can, get your money into a foreign account where they can’t touch it.
You remember the bank bail ins in Greece and Cyprus ? They were trial runs and they’ve rolled this out throughout the world. We enacted our own bail in legislation back in 2015 or 2016. Have you seen the newish CIDC commercials ? They use to say your money is safe with us, Now they speak of keeping your money safe in the “rare event a bank fails”. Bank failures are coming.
https://www.youtube.com/watch?v=e5Q6R0v-8BQ
Foreign account, so BC then?
That’s what happens in the 3rd World.
For years I’ve watched people pay for items with their cards, and now their phones, at checkouts while I always paid with cash. Many clerks can’t even make change in their heads. That is what Siri is for. I don’t have nor have ever owned a cell phone. I knew what was coming beginning back in the mid-1990’s. I could feel the noose back then, gripping ever tighter. Physical cash is simply the best technology out there if a society is to remain free. Bitcoin advocates are lost as far as I am concerned. Digital money feeds the social credit system model that is so very desperate to come alive in the West. Digital money is a training ground for totalitarianism and bitcoin promotion helps this. Patient gradualism is the term, I believe. Cops will do anything they are ordered to. Anything. Don’t forget that. It’s you before them, always. Watch out for yourselves.
Bitcoin is nothing like digital currencies run by governments.
It’s like saying a toaster is similar to a bathtub because they both have plugs.
If your internet is cut off, what is Bitcoin worth to you? If the payment platforms are frozen to your ID number, what is your Bitcoin worth to you?
The “internet” cannot really be outright destroyed like that, you’ll get a connection back to it eventually. Bitcoin also doesn’t need a payment platform to approve the transaction. You just need an address of the person you are trading with.
It’s not a perfect solution but its way better than any kind of government monopoly money. If the internet legitimately does go down like that, your gold and silver isn’t going to do you much good either. You’d be better of buying food, ammo and water in that case.
You don’t need the Internet to own or transact Bitcoin. It would be slow but possible.
Do you know how much of fiat money is actual cash? About 8%. The rest is digital. If the Internet goes, good luck turning all that digital money into physical money.
you never paid for anything with cash.
you paid with fiat paper…
there was mony(gold/silver) ,and their were
certificates, stating how much gold/silvre it
represented…
Gold & silver are real money, everything else is credit. That said I’ve been a fiat cash only person for about the last 15 years. I didn’t like the banks knowing what I spent my money on and I didn’t want to give them a cut of every transaction I made.
If a few million Canadians withdrew their maximum amount daily at the same time, it might send a hiccup through the banking industry. Alas, most of the people most motivated don’t have that luxury.
That, Kate, is because too many of the most motivated of us have too little to maximally withdraw daily.
I am just grateful to balance the sheets at my credit union each month and check my food stock balance.
Let me know when this is planned, Ill short the hell out of CAD. Three days later Leo will be looking at my yacht with a flacid member, wondering where he went wrong.
FDIC will pop in, underwritten by our dear leader Butts-puppet, and you all will be rounded up for the camps.
Here I thought I would be prisoner #1 at Gulag Uranium City. A float in the Mediterranean sounds so much better.
I wouldn’t be surprised if the Canadian dollar plummets tomorrow.
Financial markets have been yawning this whole time, Kate.
If the big money had thought for a minute that Trudeau would do the decent thing and return power to the Canadian people, the big money would have started cashing out days ago.
The loonie would have started going to zero, and you wouldn’t be able to empty your bank account, because your local bank branch would have “temporarily” closed, your bank card would have stopped working and the bank website would 404.
Why? Because one of the first thing the truckers will do once in control in Ottawa is tell Bay Street to shove their theft bonds up their asses, and make something that wasn’t bank-confetti the currency of the realm.
And that would be the end of every bank and credit union in Canada.
This is only one part of many.
Juthtin and the Liberals are madmen and women.
It is time to steal Canadian’s wealth.
Remember Chrythia talked about it not that long ago.
The banks don’t give a shit about anything or anyone.
Pre pay some.routine expenses such as utilities, property taxes, cell phone bill? Most grocery stores have display racks of cards for various companies, buy some ahead? Get prepping.
excellent advice. Gotta be like water
Toilet paper! Stock up on TP!! 😉
Speaking of which, some of the essentials have skyrocketed pricewise in the last year.
Just speculating if the RCMP would effectively take over gas stations in Ottawa and prohibit sale of fuel to anyone but Ottawa residents? I imagine that they could put station owners in a position where they could not argue.
With the War Measures, they can do anything. This is martial law.
Would be the best moment for a national strike.
Not a bad idea Dan, it’s the only way to overcome martial law.
Dan and Free Thinker, of course it should done immediately. It will be the only way to crush the insanity.
The fact they have fingered corporate accounts as well is indicative of what they intend. No money in any Canadian institution is safe. And that was always the goal.
They didn’t make this shlt up on the fly.
Corporate canada is fully onside.
This is a slippery slope in so many ways. The Liberals, arrogantly think they will rule forever.
But, if the Libs set this new precedent, then what happens when the shoe is on the other foot? CPC or PPC government, seizes the funding for Greenpeace, Tides Foundation, PETA, etc. OH……THE…..HOWLING!
This could be, of course, a lot of empty threats, virtue signalling and demonizing, again from the Libs. It’s their MO. They can’t freeze American accounts, and despite they’re rhetoric and declarations, the PEACEFUL PROTESTS ARE NOT ILLEGAL. Slippery slopes indeed.
Oh, and, the Liberals have no problem taking American money for their causes, they just hate others using the same tactics. The Libs are now making political opposition to them a CRIME! NORTH VENEZUELA.
And, to the point, the donations to GSG were typically by CC. Nazi Bobblehead said they would “freeze the account”. So, what could that mean possibly? Freeze the CC? For only the time period of their “emergency”. Freeze all accounts at the institution? Or, freeze everything everywhere because “you need to be taught a political lesson!”
Draconian overreach for donating for the purposes of supporting legal fees, food, and some fuel money to avoid freezing to death.
Liberals are the enemy of common sense, they are clearly totalitarian fascists. Go much further and they might actually get something started they would never wish that they did
Canazuela here we come, no need to stock up on toilet paper, using $50 bills will be cheaper.
What happens when truckers in Ontario realize their risk has gone up? They might be better off avoiding Ontario for a while. Where does that leave the consumers and factories in Ontario?
Quite literally … CRAZY people are running your country. Sorry … ruining your country
I’m moving all cash to my wife tomorrow. Next need to figure out what to do with RRSP and TFSA. Then the big problem is how to get my corporation out of Canada. Any suggestions welcomed.
TFSA can be liquidated without tax penalty.
The funds still have to end up somewhere in one form or another.
BC is still a place to hold, but has to be spent in dollars somewhere.
Move into gold, but, it’s a bit cumbersome, and the premiums get higher with smaller denominations.
It’s probably best to have several accounts in different banks and spread it out quite a bit, and keep some in brokerages too.
And then there’s Moneymart to cash cheques from transfers, just pay the commission, it avoids the bank if it’s frozen.
And just like that,the citizens faith in the banks was destroyed..
Cash is king,until we establish a new unit of exchange.
While fiat money has no real value,we can still use it to “value” our exchanges and tracing transactions is hard,hence government hatred of cash.
One alternate unit is using the humble .22 as the minimum unit and taking it from there.
10 x .22 for one 30-30,4 x 30-30 for 1 30-06 and so on.
Portable,divisible and mighty useful in a pinch.
What? Only banks?
Why not add ah… our trust in government, our trust in media and our trust in health officials. They’re all lying to us.
At least we can still trust the Tooth Fairy!
Did u notice that while Frau Freeland was hyper venting, Turdeau, always the D list actor, was poorly doing his best Dirty Harry impression between Butts of childish rage?
I really hope some accountant would figure (if it’s even possible) how much, how much Mr. Prime Minister, how much your ego trip has cost Canada and Canadians over the past month.
How much?
My bet is that Turdeau’s ego, slurring hardworking Canadians with rude names and his refusal to talk openly and honestly will cost the country several billion more than whatever the delayed trade was worth.
Oh Canada; we Liberals have your back and we will always support the middle class and those working hard to join it.
Yup. and the cheque is in the mail, I’ll always love you and will never leave you.
Always remember Feb 14th 2022
Canada’s St. Valentine’s Day massacre TM