The concept of a Canada taking money from unknowing bank depositors is not just within the realm of hysteria and hype.
Not when Page 144 of the 2013 Canadian budget states: “The Government also recognizes the need to manage the risks associated with systemically important banks — those banks whose distress or failure could cause a disruption to the financial system and, in turn, negative impacts on the economy.
CFR Boss: Cyprus Had it Coming Talk about blaming the victim.
The president of the globalist Council on Foreign Relations, Richard Haass, told Bloomberg TV the other day the poor schmuck Cypriots had it coming, in part due to their parochialism.
This requires strong prudential oversight and a robust set of options for resolving these institutions without the use of taxpayer funds, in the unlikely event that one becomes non-viable.
Translated, Without the use of taxpayer funds means via depositor funds??? A fair question In a world where western governments are now stealing and coveting the money of small bank depositors.
Banks also refused to cash cheques and travellers were banned from leaving the country with more than 1,000 euros (£850).
Cyprus’s foreign minister Ioannis Kasouldides said the restrictions will continue for ‘about a month’.
Billions of euros in banknotes were delivered to banks by armoured lorry in the expectation of crowds wanting to withdraw funds.
But the controls, designed to stop a run on the banks, meant customers were banned from withdrawing more than 300 euros (£250) per day.
Italian Businesses First to Receive Govt Debt Payback 40-billion-euro plan ‘to jumpstart demand this year’ says Grilli (ANSA) — Rome, March 28 — The Italian economy minister on Thursday said the government’s decision to pay back 40 billion euros in public debt will go to private-sector companies before it goes to banks over the next two years and will produce positive stimulus results by mid-2013.
In repaying government debt, the government foresees “a chronological order in two phases: first, non-financial institutions, then the banks,” said Vittorio Grilli before a special parliamentary committee.
The Canadian government is actually proposing that what just happened in Cyprus should be used as a blueprint for future bank failures up in Canada.