Loading ...CANADA – Freezing of Accounts Under Emergencies Act Caused Panic Withdrawals: Credit Union Association
On a few occasions, customers also withdrew millions to avoid the punitive measure.
“We were scrambling when the act was announced to find out if we were part of it, if it applied to credit unions, and it took us a little while to be able to get that information from the government,” said Durdin, who noted that the “big six” Canadian banks were given a heads up but credit unions were not.
Great article, thanks. Check out this on the credit unions…
“Durdin said in her understanding credit unions closely followed the RCMP’s list of whose accounts should be frozen, resulting in the freezing of 10 accounts in total with a value of less than half a million dollars.”
Is there any difference in holding your cash in a Credit Union with respect to Government seizures? Looks like we already know!
And the Federal Government wants to make “some” of the Emergency Powers permanent. I wonder which ones…
So Canadian banks and credit unions aren’t safe is what this is saying. So The only other alternatives are non-Canadian banks that have only online services such as HSBC which is the largest international bank in Canada. Might be a good idea to put most savings there instead of any Canadian bank or credit union, since I assume it would be out of the reach of the government there. I’d have to research more on this yet.
Any feedback on this idea would be appreciated.
When something bigger occurs(as already demonstrated with the Covid bullshit) it won’t matter where the bank is domiciled. They will all be working from the same playbook and if you don’t follow their demands they will freeze and or confiscate your funds. The entire West is controlled by the WEF.