Cypriot Banking Business Model Coming To Canada

J

JakeStratham

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Oct 28, 2009
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Convinced that folks will now swallow just about any medicine they're told to take, the House of Commons of Canada has decided to give the "Cypriot Banking Plan" a whirl themselves. Or at least set the stage.

Don't believe me? Take a peek at what's buried in the most recent "Economic Action Plan" (PDF) on pages 144 and 145. I'll save you the trouble of digging. Here are the important passages...

The Government intends to implement a comprehensive risk management framework for Canada’s systemically important banks. This framework will be consistent with reforms in other countries and key international standards, such as the Financial Stability Board’s Key Attributes of Effective Resolution Regimes for Financial Institutions, and will work alongside the existing Canadian regulatory capital regime. The risk management framework will include the following elements:

  • The Government proposes to implement a "bail-in" regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital. This will reduce risks for taxpayers. The Government will consult stakeholders on how best to implement a bail-in regime in Canada. Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants.
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Gee, I wonder what the underlined portion means. Also, notice that the subtitle at the top of the page is "Helping Manufacturers and Businesses Succeed in the Global Economy."

lol That's cute.


h/t to DV.
 


How does this change the fact that as a typical depositor we would normally stand in line as an unsecured creditor during a liquidation anyway (excluding FDIC/other insurance).

So during a normal bank failure (without government intervention) wouldnt a depositor lose almost everything anyway ?
 
Money in bank = risk, regardless of where you live. Buy gold bars motherfuckers!

Seriously though, all countries have laws in effect that can rape the average Joe if things go south.

Enjoy your freedomz
 
dmnEPC said:
This is setting the stage for WW3. This is nothing more than a test. If they get away w/ this (they will) look for it to spread. They tell the world that this money is just Russian mafia's money, so no one cares. Just walk outside and as any american what is going on over there.

If they even know its happening, they will say its people that were laundering money. Maybe 5% of the population will realize its the .gov and banks robbing and stealing this money from real people and real business.

I will lay this out as my prediction. If they get away with this and take this money. You will see this happen in a much bigger country in < 6 months. And when that happens the worlds banking system will fall like domino's. But do not miss interpret this to mean the bankers will loose money. This is how they will hijack the worlds money and pull off the greatest heist the world has ever seen. As I mentioned WW3 is about to commence.
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Ill just drop this little nugget here.
 
avatar33 said:
Money in bank = risk, regardless of where you live. Buy gold bars motherfuckers!

Seriously though, all countries have laws in effect that can rape the average Joe if things go south.

Enjoy your freedomz
Click to expand...

Fuck yeah Gold!!! ;]

Gold is the way to go in every country. Ain't no government is going to control my financials. :321:
 
This is all you need:

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