The Conservative Cave
Current Events => The DUmpster => Topic started by: pjcomix on February 23, 2022, 09:44:12 AM
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What an embarrassment for the Son of Fidel and his very jumpy sidekick! After grandly announcing that protesters' bank accounts would be frozen they had to BACKTRACK completely just days with the announcement that those bank accounts would be unfrozen. Why? Not because they were enlightened about human rights but because their dopey decision caused a financial crises in the Canadian banking system.
https://youtu.be/Mhk5ONcOtYQ (https://youtu.be/Mhk5ONcOtYQ)
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Frozen accounts creating a lack of confidence in Banks and creating bank runs...
"I'm dying of NOT surprise!"
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God they are so stupid. A basic building block of society. If you are going to hand your money over to a bank, you must be able to 100% TRUST that you can get it out when you want it. It's a sacred trust.
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As a very wise member of this forum has said often: "play stupid games, win stupid prizes." The fundamental foundation of a stable monetary system is trust. It doesn't matter what the currency is backed by, if there is no faith and trust in the system, it will develop cracks and fail. Even worse for Canada, this mistrust was caused by direct government influence and could take decades to recover from. They can try to unfreeze all they want to, but the trust is broken and that is a mountain of a problem to overcome.
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Totally predictable. And the bulk of those funds have vanished from the Canadian economy for decades, like Peterson says.