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Trudeau’s grab of the bank accounts of his political enemies might have crashed the Canadian banking system

The decision by the Trudeau government in Canada to freeze the bank accounts of the truck convoy protesters and their supporters now appears to have backfired monumentally, so much so that it has threatened to possibly crash the Canadian banking system as people apparently began rushing to withdraw their money out of fear it will be taken from them.

What might seem like a great tool for political punishment has long term consequences, especially if people start withdrawing their money and/or shifting the placement of their investments to more secure locations away from the reach of the Canadian government. Considering the rules of fractional banking and deposits, it doesn’t take many withdrawals before the banks have serious issues.

Is this happening? It appears it might be, though the Trudeau government and banks appear to be trying to hide it. The first indicator was the sudden several hour shut down of all web access to Canada’s five major banks shortly after the bank freeze was announced. The available data, though limited, suggested that the banks had suddenly experienced a run of customers withdrawing money, and shut down access temporarily to try to stem the tide.

The next indicator is the decision yesterday to unfreeze almost all of those bank accounts. That decision, along with Trudeau’s announcement today that he is revoking his emergency powers, suggest that the banks had put pressure on him to act, because the withdrawals had not ceased, and if he didn’t act the entire system would have crashed.

Whether Trudeau’s actions will end the panic however is quite unclear. I know that if I had any cash in a Canadian bank I would right now be looking to put at least some of it elsewhere. The same thought applies to American banks, as their recent effort to shut down accounts of conservatives like Mike Lindell suggests that many banks will go along with a similar order by the Biden administration. And with an American truck convoy just now gearing up and heading for Washington, no one should be surprised if such a draconian action is just over the horizon.

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  • Phill O

    I do not think that the Biden administration will be as stupid as the Liberal Party of Canada or the (NDP) New democrat Party.

    Canada has shown the whole world the pit falls of not having dialogue with the political opposition opposition.

    Yes, it is time to diversify where we put our money. This run on the banks will have long term effects.

  • Phill O: Remember: Against stupidity even the gods themselves contend in vain.

  • Cotour

    A nice unanticipated grave consequence of defiant authoritarian actions.

    Trudeau has now created great fear in the minds of the people, how does he recover confidence and trust?

    He does not.

  • sippin_bourbon

    “I do not think that the Biden administration will be as stupid…”

    Oh no, now you have done it….

  • Ray Van Dune

    Mine eyes have seen the glory. Out of nowhere, Trump has a crusade to take up… to restore the peoples’ trust in a government, military, media, industry and banking system that has thoughtlessly thrown away its credibility.

    And he can honestly say he was a victim just as much as we were. Mine eyes have seen the glory!

  • Steve

    I would suggest a small, local credit union, hopefully in a rural and conservative State, rather than Chase, Bank of America etc. It’s not a guarantee, but the woke freak cases are much less likely to control a credit union. It does seem old fashioned, but at least a partial return to a cash economy helps also. Turn your paycheck into cash money. Spend it in ways the Left can’t trace!

  • John

    That was tyranny, plain and simple. A peaceful fully legitimate protest. Stomp old ladies, dox donors, freeze accounts for a $50 donation. Tyranny.

    They’ll do it here.

  • John

    It doesn’t matter that the tyrant had to revoke the order, they’ll learn from this.

    They’ll do it here, the second they think they can get away with it.

  • “Against stupidity even the gods themselves contend in vain.”

    Friedrich Schiller

    Yet, the mortal gods relish in it.

  • wayne

    It’s A Wonderful Life (1946)
    “I’ve never really seen one, but that’s got all the earmarks of being a run”

  • Max

    When things start going south for the most nicest, pacified country in the world… Canada!
    (under martial law… Who would’ve thunk it?)
    Suddenly a war, just waiting to break out for months, suddenly starts firing live rounds rounds in Kosovo. Russia stock market has collapsed, oil prices are going through the roof, and we haven’t heard about Covid in a week or more!
    (The war on the unvaccinated has been put on pause?)
    The Olympics are over, China is deeply in debt, and now their forces are on the move. Heading to Taiwan? Vancouver? Philippines? Most likely the South China Sea.

    We will also use some new methods of warfare being tested in this conflict… Right out of Hollywood.

    The world is about to change again and will be forever unrecognizable to most of us.

  • Jeff Wright

    Bankers are greater crooks than gov’t. Lousy return on your investment-but gash you on card debt…my shackles..that and low wages.

    But Fox is beholden to them as well….have you heard them mention the names of the banks enough?

    And as for the: Royal Mounted Cossack Police….

  • James Street

    Have a couple weeks of cash in a safe place in your home just in case Biden does the same thing, the internet goes down, there’s a run on the banks, etc.

    Heads up
    Scotiabank now has a max withdrawal amount per day.
    $2000 cash.
    That is all
    3:11 PM · Feb 23, 2022

  • Questioner


    Now in Ukraine we are witnessing the direct struggle of the globalist forces (represented by America, the EU and the Ukrainian puppet regime, in short the Globohomo Alliance) against the anti-globalist forces represented by Putin.

  • Cotour


    Square this Klaus Schwab statement with what you propose: 1:03 min.

    Putin understands who benefits most from the elite Globalist agenda that must destroy and make moot the American Constitution. Both China and Russia.

    Putin along with Merkel and Trudeau are “Young leaders ” in the Globalist / Shwab / Soros / World Economic Forum movement.

    “K. Schwab: “Vee have penetrated at least 50% of Zheir cabinets”. ”

    What do we now await? What president Xi does. We already know what Putin intends. the only remaining question? How far will he go?

  • Cotour

    And here we have the answer to my last question. How far?

    He aspires to take as much as possible.

    Who or what is to stop Putin, Joe Biden? Kammy?

    Judge Judy would be more feared and effective.

  • Black JEM

    I think this pretty much locks in the upcoming defeat of the libs in a number of places. I also think this banking debacle in Canada is a message to the big banks here. There are lots of places to put money that aren’t banks, and whom the fed does not control.

    I do not believe Chase, BoA, etc will do this here because the outflows would be so quick. Plus, banks in the US still have state charters. Even Chase. A red state would just have to say we are pulling your state charter and boom — you are no longer doing business in that state. Think they want to lose access to Florida and Texas money, the two most vibrant economies in the country right now?

    They don’t.

    It was pondered that Trudeau won the battle but lost the war. It seems he lost the war pretty quickly. And in the process gained a whole bunch of agitated, energized enemies.

    He won’t survive.

  • Better get an anonymous Visa gift card — purchased with cash in a distant store — before making contributions to anything even halfway controversial in the future.

  • wayne

    Army Group South encircles Kiev
    September 1941

  • Questioner


    You said: §Putin along with Merkel and Trudeau are “Young leaders ” in the Globalist / Shwab / Soros / World Economic Forum movement.”

    Ha, ha, what a what nonsense!

  • Cotour

    There will however be a price to pay for Putin and the Russians:

    “Ukrainian Defense Ministry Claims Javelin Anti-Aircraft Missiles Neutralized a Column of Russian Vehicles and 15 Tanks” 1 min.

    “The shipment — and $2.7 billion since 2014 — demonstrates U.S. commitment to helping Ukraine bolster its defenses in the face of growing Russian aggression,” the embassy said in a Friday tweet. ”

    What happens when deterrence fails, and perceived weakness is made real? Break out the Javelins!

  • Max

    You will like this Wayne, Jordan Peterson.

    “So let’s talk about the bank,” he says. “So here’s what our prime minister did last week: He permanently destroyed 20 percent of the population’s faith in the entire Canadian banking system and stained the Canadian banking system’s international reputation, I would say, for decades.”
    Full video embedded;

    Apparently he’s even wrote a song for Trudeau.

  • wayne


    The Catastrophe of Canada
    Rex Murphy and Jordan B Peterson

  • Questioner


    You are also a globalist! But don’t worry. Those Javelin missiles have already been destroyed from the air.

  • Cotour


    If you mean that if I had to choose who I wanted to dominate the world Globally, then yes, I am a Globalist. Because I choose America with all its warts, corruptions and perversions.

    But if you mean a Globalist in the sense that I align with the Klause Shwab / Geroge Soros “Woke” “Progressive” flavor of “In the future you will own nothing, and you will be happy”, then you would be incorrect.

    Choose your poison.

  • Col Beausabre

    Cotour, Javelin is an antitank missile. You might be able to use it against a helicopter (When I was at AT Missile School at Benning a lifetime ago, we were shown films of tests of TOW being used against copters in a form of last ditch self-defense role).

  • Cotour

    50 lbs, fire and forget, next!

    A nifty piece of equipment, certainly something to be wary of for any enemy.

  • Cotour

    Questioner makes a good observation if those Javelins were in fact all stored together and those coordinates were known.

    By the news reports apparently some were available and in the field.

  • Phill O

    February 23, 2022 at 9:14 pm

    “That was tyranny, plain and simple. A peaceful fully legitimate protest. Stomp old ladies, dox donors, freeze accounts for a $50 donation. Tyranny. ”

    The folk who stole, harassed people and destroyed equipment, were not the protesters but the police!

  • sippin_bourbon

    “The Fascist conception of the State is all-embracing; outside of it no human or spiritual values can exist, much less have value.”

    -B. Mussolini., The Doctrine of Facism. 1935

  • Cotour


    Oh, he is one of them for sure. This is the prime example of why you NEVER want a Liberal now Leftist Democrat in power in America and in the world. They have a fantastical view of how they think things should work. But reality, nor Vladimir Putin, cares not one second for their fantasy.

    Like a little boy John Kerry is hopeful that diplomacy works. And he is hopeful that Mr. Putin would keep on with the climate change agenda. Climate change, that’s right.

    J. Kerry: “I’m very concerned about Ukraine. Because of the people of Ukraine and because of the principles that are at risk, in terms of international law and trying to change boundaries of international law by force. I thought we lived in a world that had said no to that kind of activity. And I hope diplomacy will win.”

    “So, I think, hopefully, President Putin would realize that, in the northern part of his country, they used to live on 66% of a nation that was over frozen land. Now, it’s thawing and his infrastructure is at risk, and the people of Russia are at risk. And so, I hope President Putin will help us to stay on track with respect to what we need to do for the climate.”

    IT IS PLAIN TO SEE, PUTIN DOES NOT CARE ABOUT ANY OF THAT! (No, this is not a proposed script for a Saturday Night Live skit.)

    Why has Vladimir Putin decided to invade Ukraine? Because it’s the correct time, he understands the Democrat party in power in America is un and anti American, weak and compromised, owned and how delusionally dopey and suicidal they are. Today they are a threat to you, me and every other American and person on this planet.

    If there is an election this November, and I have my doubts given how delusional and desperate the Democrats have become, make sure you vote for them. IF YOU HATE YOURSELF AND ARE SUICIDAL!!!–~D

  • wayne

    Col Beausabre:

    Tangential, but can you tell me what the lethal range for a hand grenade is?

    Has sorta’ a Pink Floyd; The Wall feeling, to it.
    Watch that Peterson / Rex Murphy interview, I’ve never seen 2 Canadians, that upset.

    Jordan B Peterson:
    Wake Up

  • wayne


    “Davy Crockett”

  • I’m hedging the “savings account should hold six months of expenses” rule with a cash reserve.

    The problem with cash is where to put it. In the gun safe seems reasonably safe from burglars, but not so much from the Gestapo. Do I really want to be “that guy” who buries cash in the backyard? Drug dealers have ruined all the easy hiding places.

    get an anonymous Visa gift card — purchased with cash in a distant store
    That is smaller – twenties get rather bulky – and waterproof.

  • sippin_bourbon


    “What is the lethal range of a hand grenade?”

    How strong is your arm?

    Or are you referring to blast radius and effects?

  • wayne

    “blast radius”

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