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Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget

 
Anonymous Coward
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03/27/2013 10:25 PM
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Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
Pin this shit! Damit!


"...From Page 144:

“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. 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.

And the meat of the provision, from Page 145:

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…"

The bail-in provision in Canada’s 2013 budget can be found on pages 144,145:
www.budget.gc.ca/2013/doc/plan/budget2013-eng.pdf


rest of the story at SD

h/t Doc,

[link to www.silverdoctors.com]
Anonymous Coward (OP)
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03/27/2013 10:27 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
www.budget.gc.ca/2013/doc/plan/budget2013-eng.pdf
Anonymous Coward
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03/27/2013 10:28 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
Dude ! All these Canucks here will say bullshit ! and then when it happens they will be crying like little bitchz.

That aint fair and they took my money.....................

BooHoo !
baby

bump
Anonymous Coward
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03/27/2013 10:28 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
For anyone who doesn't believe that the banksters run the govts of the world and that our wars are for nothing more than to extend their control...
Anonymous Coward
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03/27/2013 10:29 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
Thanks for the info, will pass it on.
Anonymous Coward
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03/27/2013 10:30 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
Pin This NOW !!!
Anonymous Coward
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03/27/2013 10:31 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
For anyone who doesn't believe that the banksters run the govts of the world and that our wars are for nothing more than to extend their control...
 Quoting: Anonymous Coward 754536


I know that. GLP info over time helped me figure it out.
Anonymous Coward
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03/27/2013 10:32 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
Notice I'm not shocked hey.
Anonymous Coward
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03/27/2013 10:34 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
I heard something about banks wanting to charge a tax on deposits.. Is this it???
Anonymous Coward
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03/27/2013 10:35 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
Nobody's safe.
Anonymous Coward (OP)
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03/27/2013 10:38 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
Don't forget.
There's never only one cock roach!

This is the new model going forward for western banks.

Kiss your shit good-bye!
Anonymous Coward
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03/27/2013 10:40 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
Don't forget.
There's never only one cock roach!

This is the new model going forward for western banks.

Kiss your shit good-bye!

 Quoting: Anonymous Coward 13137091


Scary
Anonymous Coward
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03/27/2013 10:41 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
I posted it on my facebook page, your link, I'll be interested in the reaction to it.
Anonymous Coward
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03/27/2013 10:45 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
bump Pin request! Important!
Anonymous Coward
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03/27/2013 10:57 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
bump
Anonymous Coward
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03/27/2013 11:02 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
This is super ghey! I new this was a plan world wide!
Anonymous Coward
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03/27/2013 11:03 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
confiscate is a common word now
Anonymous Coward
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03/27/2013 11:03 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
This is super ghey! I new this was a plan world wide!
 Quoting: Anonymous Coward 1539025


So how much money do you have in the banks ? Can we take odds on what percentage you will lose ?
Anonymous Coward
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03/27/2013 11:14 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
One positive note on being poor. I dont have money in the bank.... It just goes to bills. fml.
Anonymous Coward
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03/27/2013 11:15 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
strange i didn't hear anything about this! we are screw in every part of this shitty planet nice find op
Anonymous Coward
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03/27/2013 11:17 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
So this screws over everyone with money in banks but what about people with no money?
Anonymous Coward
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03/27/2013 11:26 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
So this screws over everyone with money in banks but what about people with no money?
 Quoting: Anonymous Coward 12398955


People with no money are already screwed by the poison low budget food, laced with poisons, and preservatives, anything imported iradiated for your health. mmmm I hate this world.
Anonymous Coward
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03/27/2013 11:53 PM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
If they steal my shit, I will steal their shit
Anonymous Coward
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03/28/2013 12:17 AM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
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.
 Quoting: Anonymous Coward 13137091




This line is all you need to know. Wow! Cyprus is coming to Canada some day.

A deposit is a liability to the bank, isn't it hilarious that banks and Governments can use the magic of "rapid conversion" of liabilities into "regulatory capital." God damn, that's out right theft.
Anonymous Coward
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03/28/2013 12:25 AM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
This is super ghey! I new this was a plan world wide!
 Quoting: Anonymous Coward 1539025


So how much money do you have in the banks ? Can we take odds on what percentage you will lose ?
 Quoting: Anonymous Coward 36969694


I have been following this finacial dilemia for years now. If my spelling is wrong, let it be known I am drunk. However, I saw the writing on the wall before the last plunge, took my money out of my RRSP's, savings, and stock. They all screamed at me like I was nutz. I put my assets into land, real estate, and gold & silver. Plus moved to the country and stockpiled resources to be self sufficient.

Now who is laughing? However the company I work for owe me $70 000 and I hope I get it before the system collapses.
Anonymous Coward
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03/28/2013 12:26 AM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
This is super ghey! I new this was a plan world wide!
 Quoting: Anonymous Coward 1539025


So how much money do you have in the banks ? Can we take odds on what percentage you will lose ?
 Quoting: Anonymous Coward 36969694


I have been following this finacial dilemia for years now. If my spelling is wrong, let it be known I am drunk. However, I saw the writing on the wall before the last plunge, took my money out of my RRSP's, savings, and stock. They all screamed at me like I was nutz. I put my assets into land, real estate, and gold & silver. Plus moved to the country and stockpiled resources to be self sufficient.

Now who is laughing? However the company I work for owe me $70 000 and I hope I get it before the system collapses.
 Quoting: Anonymous Coward 1539025


I only have $24 000 in the bank.
Paradox0910

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03/28/2013 12:27 AM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
If they steal my shit, I will steal their shit
 Quoting: Anonymous Coward 10363614


I almost WANT them to try this. It will finally give me a purpose in life.

BTW our governments, both provincial and federal, are as corrupt as shit and insist on pissing away our tax money. Yet we keep electing the same scumbags over and over. Canada has its collective head up its ass when it comes to fixing, or even acknowledging, that we have a serious problem.
The only thing I hate more than you, is myself.
Anonymous Coward
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03/28/2013 12:27 AM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild
Mister1k

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03/28/2013 12:29 AM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
This is super ghey! I new this was a plan world wide!
 Quoting: Anonymous Coward 1539025


So how much money do you have in the banks ? Can we take odds on what percentage you will lose ?
 Quoting: Anonymous Coward 36969694


I have been following this finacial dilemia for years now. If my spelling is wrong, let it be known I am drunk. However, I saw the writing on the wall before the last plunge, took my money out of my RRSP's, savings, and stock. They all screamed at me like I was nutz. I put my assets into land, real estate, and gold & silver. Plus moved to the country and stockpiled resources to be self sufficient.

Now who is laughing? However the company I work for owe me $70 000 and I hope I get it before the system collapses.
 Quoting: Anonymous Coward 1539025


I only have $24 000 in the bank.
 Quoting: Anonymous Coward 1539025


THink again! You used too.

Last Edited by Mister1k on 03/28/2013 12:30 AM
Fail to Plan! Plan to Fail!
Anonymous Coward
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03/28/2013 12:30 AM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
This is super ghey! I new this was a plan world wide!
 Quoting: Anonymous Coward 1539025


So how much money do you have in the banks ? Can we take odds on what percentage you will lose ?
 Quoting: Anonymous Coward 36969694


I have been following this finacial dilemia for years now. If my spelling is wrong, let it be known I am drunk. However, I saw the writing on the wall before the last plunge, took my money out of my RRSP's, savings, and stock. They all screamed at me like I was nutz. I put my assets into land, real estate, and gold & silver. Plus moved to the country and stockpiled resources to be self sufficient.

Now who is laughing? However the company I work for owe me $70 000 and I hope I get it before the system collapses.
 Quoting: Anonymous Coward 1539025


hf
Mister1k

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Canada
03/28/2013 12:39 AM
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Re: Canada sneakily Includes Provision for Depositor Confiscated Bail-Ins of Large Canadian Banks in its 2013 Budget
YAH!!

[link to www.youtube.com]

He's got all your fucken money in his hands.
He's got all your fucken money in his hands.
He's got all your fucken money in his hands.
(all together now with feeling)
He's got all your fucken money in.. his.. hands...
5a5a5a5a5a

Last Edited by Mister1k on 03/28/2013 12:50 AM
Fail to Plan! Plan to Fail!





GLP