Post: #1

Some people were actually paying attention and caught that our criminal government added a provision into the ECONOMIC ACTION PLAN 2013 that included a BAIL IN program for our banks.

Max keiser us reporting the story.

http://maxkeiser.com/2013/03/28/canada-i...13-budget/

And here is the actual report. READ PAGE 144-145.

http://www.budget.gc.ca/2013/doc/plan/bu...13-eng.pdf

Trust me, our banks will collapse soon enough. They are floating on a mountain of real estate debt and consumer debt. Canadians are the second highest indebted consumer on the planet behind the UK now.

All my money will be out of the banking system by next week. I haven't figured out where it is all going, but I think bitcoin is going to be a very viable option now as I already own plenty of gold and silver.

Post: #2

One more thing. This was written over a month ago. Well before Cyprus. So ponder that before you think this isn't going on around the world

Post: #3

What about Credit Unions BIJ? I have my money split 50/50 between local Credit Union and TD

Post: #4

Well it sounds like they mean the big 6 banks. Credit unions are governed a different way and have way more reserves. Big provincial banks could be included in this as well. ATB is a massive bank, so is CWB and laurentian so I would stay way from them as well.

Post: #5

I also called BNN this afternoon and snuck in my question during market call. They pretty much blew me off, but just trying to make people aware of what is going on.

Post: #6

I have always said that Canada will be far worse off if and when SHTF then America. America has guns a Army, and of course a reserve currency to at least muscle anything it may need. Canada economically is completely subservient to America and if and when SHTF USA will simply just pillage us. Are Dollar will be looted and shot sky high, Gas will be sky high and nobody in Canada will be able to afford to fill up their tanks. America will shut its borders to us and tell us to go suck a fat one. We think we have it good up here but we are structurally set up to be raped if and when things get hectic economically on a global scale.

EDIT*** Further down in the 300's there is a lot more shit. Stuff on Intentional Electronic Money Transfer amendments and International Tax Evasion Laws amendments are also detailed.

Post: #7

But what about all the free health care?

Post: #8

(03-28-2013 07:49 PM)kosko Wrote:  I have always said that Canada will be far worse off if and when SHTF then America. America has guns a Army, and of course a reserve currency to at least muscle anything it may need. Canada economically is completely subservient to America and if and when SHTF USA will simply just pillage us. Are Dollar will be looted and shot sky high, Gas will be sky high and nobody in Canada will be able to afford to fill up their tanks. America will shut its borders to us and tell us to go suck a fat one. We think we have it good up here but we are structurally set up to be raped if and when things get hectic economically on a global scale.

EDIT*** Further down in the 300's there is a lot more shit. Stuff on Intentional Electronic Money Transfer amendments and International Tax Evasion Laws amendments are also detailed.

And Canada sold off all of their gold and silver in the 80's. They're fucked. At least we can use Montreal and Toronto for "sex tourism" when they hit third world status.

Post: #9

Interesting paper on the topic, dated from 2011. Looks like in exchange for bearing the risk, you get equity in the bank in return.

Quote:Under Canada's contractual model for NVCC, each instrument must have a formula governing the conversion mechanism that references the market value of equity when the federal banking regulator determines the institution is no longer viable. It remains to be seen whether "bailable" senior debt will have a similar formula governing conversion to non-common equity forms of capital.

There will also be increased capital requirements for the Big Six. Both of these changes are not new and have been brewing since Basel III in 2011.

Keiser is a bit like the IRT of the Finance World. Russia today is fucking ridiculous, basically a rebranded Pravda, even if you are a big skeptic of the media like many people are here, it is still a way for Putin to troll the West with a veneer of respectability.

I have also heard so many wanker doomsday theories and people like Alex Jones spouting off about the NWO stealing your moniez cuz the Jews Did 9/11.

I've come to the conclusion that these people are losers who are so alienated and dissatisfied with their lives that they want everything to go down in flames. Similarly, a lot of these doomsday/SHTF people just love to fantasize about how bad-ass they'll be in some kind of survival scenario, when they'd probably get winded from running up a flight of stairs. I know two things though

1) If everything is going to tell, then I'm going to get a HELOC and buy myself a Ferrari, because why the hell not.

2) People can hoard all the gold and canned beans they want. When they're on the receiving end of my .223, it won't matter.

Post: #10

I also called into BNN today and pretended like I was interested in BP. I actually am holding the options on it right now. But once I got my question in I quickly slipped in this report and the Bail IN. The host tried to ignore it and just get the guy to talk about BP, but he did answer it. My goal was just to get it aired, which they did. The guest made some BS remark about of course we would want to bail out our banks, but they did mention that they would be using deposits to do it. I am going to call in again on Monday and bring it up again

Post: #11

Which show did you call? was that a radio or tv show?

(03-28-2013 10:56 PM)BIGINJAPAN Wrote:  I also called into BNN today and pretended like I was interested in BP. I actually am holding the options on it right now. But once I got my question in I quickly slipped in this report and the Bail IN. The host tried to ignore it and just get the guy to talk about BP, but he did answer it. My goal was just to get it aired, which they did. The guest made some BS remark about of course we would want to bail out our banks, but they did mention that they would be using deposits to do it. I am going to call in again on Monday and bring it up again

Post: #12

TBH I see the Canadian central bank doing a coupon pass than letting a primary dealer fail.

Post: #13

TV. I am not sure what the name is. It was after the market closed and Mark Bunting was hosting and the guest was a brown guy.

Post: #14

Which station? was that a national tv or local one?

(03-28-2013 11:06 PM)BIGINJAPAN Wrote:  TV. I am not sure what the name is. It was after the market closed and Mark Bunting was hosting and the guest was a brown guy.

Post: #15

sounds like a bunch of bullshit to me.

Post: #16

BNN is the business news network. In my area it is channel 70. But you can go on the website and watch it now.

http://www.bnn.ca/

market call tonight part 6. I think I come on halfway thru the clip.

Post: #17

how will this affect the oilsands?

Waiting for my visa as we speak..

Post: #18

I do like Max Kieser but I slowed down watching his stuff, his news and Alex Jones seems too much like the sky is falling. If you (Canadians) don't have your money in a Credit Union then you are crazy, I made the switch from TD about two years ago and couldn't be happier.
Canada on a whole has money and natural resources that keeps us afloat. The reason we are in so much debt is because the scum leaders make this country expensive to live in, there is no reason why we should be paying these ridiculous gas prices since we produce oil that we "sell" to the USA.

Post: #19

(03-29-2013 11:12 AM)rudebwoy Wrote:  I do like Max Kieser but I slowed down watching his stuff, his news and Alex Jones seems too much like the sky is falling. If you (Canadians) don't have your money in a Credit Union then you are crazy, I made the switch from TD about two years ago and couldn't be happier.
Canada on a whole has money and natural resources that keeps us afloat. The reason we are in so much debt is because the scum leaders make this country expensive to live in, there is no reason why we should be paying these ridiculous gas prices since we produce oil that we "sell" to the USA.

Well, it's also taxes on gasoline. But the debt is also related to the interest rate policies of Carney, Flaherty et al. Nobody wants to raise interest rates because then the borrowers would be fucked and people would not be able to spend as much, but low rates simply perpetuate the credit/housing bubble.

Post: #20

Good looking out for other forum members Biggie J. Whether this is right or wrong, you put in effort to help others salvage personal wealth. Hopefully when shit really hits the fan forum members can alert each other on what to do before it happens.

Post: #21

(03-29-2013 11:12 AM)rudebwoy Wrote:  I do like Max Kieser but I slowed down watching his stuff, his news and Alex Jones seems too much like the sky is falling. If you (Canadians) don't have your money in a Credit Union then you are crazy, I made the switch from TD about two years ago and couldn't be happier.
Canada on a whole has money and natural resources that keeps us afloat. The reason we are in so much debt is because the scum leaders make this country expensive to live in, there is no reason why we should be paying these ridiculous gas prices since we produce oil that we "sell" to the USA.

Canada has no national energy policy and is not allowed to under NAFTA. We can't even use and produce are own tar sands for domestic use like other nations do because NAFTA blocks us from actually building the infrastructure to do so. We have no real trans-Canada pipe line, Ontario and parts of eastern Canada still have to import middle eastern oil. We have to give America 67% (don't remember the exact ratio of the head) of our oil no matter what. USA meddles in our attempts to get a Asia passes e going for oil, it's all bullshit. Both the USA and UK meddle with our ability to be economic giants. There is no reason the most resource rich nation should have debt and deficits. We have more natural wealth per capita then any other nation and we borrow cash?

It makes zero sense. Our books should
mirror Alberta which has a modest debt load and substantive cash in the bank.

Max Keiser makes his money being an alarmist but the man is smart. If you want to hear him more candid without the Moscow sirens of RT listen to his London podcast called "the truth of markets". Max gets or of credit because he was the first to talk about Canada's real estate bubble way back in 2009. Back then only him, Garth Turner, and a few blogs where talking about and now it's mainstream.

Nobody can sit here with a strait face and say the global ponzi scheme will continue indefinite. Canada is fucked once the gig is up. Our media does a great job in keeping Canadians ignorant to how we are fucked legally and structurally by the global economy. They paint America as the worst when we will be way worse off.

Post: #22

Well Alberta did have a strong balance sheet. Not anymore.

We are now 6 billion in debt. Just a couple years ago we were debt free and had 17 billion in savings. Now we have 500 million left. Our government has plundered everything and we now have more government workers per capita than even quebec. This with oil being around a 100 bucks a barrel. When we got out of debt oil was averaging 50 bucks a barrel.

Canada will go down in one big flaming heap. No idea when that will be but our banks collapse every 20 years or so. So I would say we are due.

Post: #23

Some of you guys are serious worriers. I'm suspect the people worrying the most have the least dollars invested in general.

Read Beating the Street by Peter Lynch and how he said all these worriers ended up losing in the market.

Post: #24

Or maybe some of us have real assets and a lot of cash and therefore would be affected the most. I own a lot of gold, silver, farmland and real estate. I will be fine if they take all my money. But that doesn't mean it is right and that I want them too.

I sleep fine at night because I am prepared for the worst but hope for the best.

Ignore the warning all you want. My preparation for the worst has been highly profitable and I have not missed out on any opportunities except maybe art.

Post: #25

(03-29-2013 11:12 AM)rudebwoy Wrote:  I do like Max Kieser but I slowed down watching his stuff, his news and Alex Jones seems too much like the sky is falling.

I never understood the appeal of these emotional over the top pundits or blogs like Zerohedge, etc. Even if you watch them just for entertainment, you can't be that bored. You'll be better off spending your time on other things. If you're a real investor don't even waste your time with the emotional porn that is flooding financial news. Try the Financial Times, Bloomberg TV, The Economist, etc.