Mark Zelmer, a senior fellow with the C.D. Howe Institute talks with Financial Post's Larysa Harapyn about how Canada's banks should prepare for a failure.
Пікірлер: 162
@joshdoddadbod2 күн бұрын
Privatize the profits, socialize the bailouts. These folks cant fail, unfortunately.
@ameerhamza404621 сағат бұрын
What??
@theNorth47316 сағат бұрын
I mean I love your comment but they have to fail to trigger the bailout
@ICFUBARСағат бұрын
until the socializers (govt and its central bank) become insolvent
@bigsid30112 күн бұрын
Canadians have lost all confidence in the Trudeau Liberal Government. Once Justin is removed from his position of PM, Canada will be on a safer footing.
@Alex-kb9rd2 күн бұрын
Define "Canadians"
@tonyfulford31752 күн бұрын
@@Alex-kb9rd Is Trudy paying you to be a troll ?
@DaveyC997182 күн бұрын
@@Alex-kb9rdAnyone who isn’t a Libtard
@mat37142 күн бұрын
Ah shut up russian troll
@jz12390Күн бұрын
@@Alex-kb9rd Good question.. Who knows what is a Canadian these days..
@FranklinRodriguez-ri4zuКүн бұрын
Thank you for quality programming. What you are describing here is accurate - the flight to safety to the US stock market and dollar. This is what is keeping the market going at this time and preventing a crash. This "melt UP" phase will go on for a while, then as the global economy crashes so will US markets only harder due to the "No Win scenario" that has been created by so much obscene debt. Next comes the "Default Phase" with mega-massive bankruptcies and lastly "Asset Seizures" where banks and the Fed government will simply declare an extreme national emergency to justify the crisis and debit your account directly. The fools will think that this could never happen. The actual legislation for this type of action is already in place. My advice to anyone feeling the heat in this inflation, just trade long term more than ever, I have made over 540k from day trading with Adriana Jensen in few weeks, this is one of the best medium to backup your assets incase it goes bearish..
@TiffanyLeaBembenekКүн бұрын
Access to good information is what we investors needs to progress financially and generally in life. this is a good one and I appreciate
@MatthewSeiserКүн бұрын
This is why it is advisable to connect with a true market strategist in order to avoid missing such opportunity and maintain steady gains.
@TriciaKeeneКүн бұрын
Adriana Jensen program is widely available online..
@StevenSalyers-f5yКүн бұрын
She's really good in studying the market and making a strategy and i am learning so much from her already.
@PhilipSkelleyКүн бұрын
The market has gone berserk! whether you're a newbie or a veteran trader, everyone needs a sort of coach at some point to thrive forward.
@BillyKaz-no6pf2 күн бұрын
It’s also the risk exposure to the canadian housing bubble .. and domestic house hold debt that makes Canadians banks exposure to risk that’s at 2.9 % greater then that of UK banks @ 1.3% and US @ 1.2% exposure . Simply said Canadians banks are twice as likely to be exposed to risk due to domestic house hold debt ( mortgages)
@neilbertram19222 күн бұрын
I don't know if we should be insuring deposits at 100%, but the current 100K limit to CDIC coverage has not been increased in decades. Isn't the deposit limit in the US up to 250K?
@IggyArssieКүн бұрын
It is and I can assure you if this happens it will be by design this could happen if ppl start to renew their mortgages and due to the economy can’t make the payments and have to either declare bankruptcy or repossession of their homes at that point ppl will indeed lose confidence in their banks and start to pull out their money which is problematic especially since most banks don’t hold enough cash to even fill their bank machines 24/7 in my town you can hardly find a ATM that’s open after hours .. so instead of a government buy out the banks will declare a BUY IN which essentially means they will confiscate all moneys over 100 thousand which is our deposit insurance limit .. they plan on having us bank on social media and make millions when they sell all our data to Facebook and the like 😮
@mattonmКүн бұрын
CDIC insurance is 100k per product. Savings account 100k, TFSA 100k, and GIC 100k. That's 300k from one bank. If your savings are more than that, then use more than one bank.
@MPIronmanJC17 сағат бұрын
Credit unions don't follow that cap. BC credit unions insure 100% of deposits.
@NecTeezayКүн бұрын
Another option is to leave them fail. Alot of the solutions offered seem inflationary and they give the banks no reasons to better manage their loans as they know they will get bailed out. Or if everyone else is insured 100% then they will just be more reckless in their investments as they will have no consequence for bad loans. And who ends up paying for all this insurance ? Canadians via the printing of money from boc to bail out or to insure everyone. Keep them on the hook and keep them honest. Depositors will be more inclined to shop around for the banks that have better balance sheets and less risky loan profile
@IXXILordFibonacciIXXIКүн бұрын
They have already failed. Just a matter of public attention.
@KM-sr9cc20 сағат бұрын
Sharp Fall of Home and Land Prices will be on the horizon here in Canada as the inflation numbers will rise again due to ongoing geopolitical conflict in West Asia. Geopolitical instability in West Asia (Mid-East) and high risks of long-term conflict will push the global economy back into another DEEP recession and possibly a Depression. We are just at the beginning of a long hard slog in the Global Economy. (i.e. 1960 - 70's Vietnam era Inflation), everything is overleveraged and overpriced. The Global Central Banks are losing control over the economy and running out of tools and options. The sad reality is also that here in Canada, the Bank of Canada has LOST TOTAL CONTROL over the economy and especially its own created Inflation for the past 20+ years. - HIGH Food Prices - HIGH Oil/Energy Prices - HIGH Taxes - HIGH Asset Prices (Land and Home Prices) - HIGH Consumer /Household Debt (Over $3 Trillion) - HIGH Cost of Living and Expenses - Bubble/ Debt based Economy - HIGH Poverty and Homelessness - HIGH Crimes rates - HIGH Expectations by Consumers and Investors - WIDENING Gap between 99% poor and 1% rich - Growing Social and Economic Disparity and Inequalities created by the Bank of Canada - Growing Social, Economic, Political and Security Crises in Canada - Continuing Printing of Dollar/ Cutting Rates and Devaluation of Currency by the Bank of Canada - Continuous Decline in Standard of Living in Canada caused by the Bank of Canada's inflationary monetary policies. - and ... All of the above factors have contributed to the current ongoing Dhilemas and Crises in the country with NO END in sight. Given the current Global Geopolitical Situation and Canada's stand, we will see a STEADY and SIGNIFICANT DECLINE in ASSET prices in Canada in the coming months and years. (C-R-A-S-H) and ( D-E-P-R-E-S-S-I-O-N)
@calgarytek16 сағат бұрын
You forget crypto, which came online after the near loss of trust in the financial system. There is an inverse correlation between bank failures and crypto.
@gordonsmith30787 сағат бұрын
Your right. There is a massive crash predicted before end 2024. Also predicted is the occurance of the antichrist revelation 13,:3. Predicted to be the Mahdi, 12th imam. Along with another antichrist from the Vatican. December. The best investment then will be the Real Christ. Jesus. All the best.
@gereral1_jackofalltrades2 күн бұрын
If the banks and government were serious they would remove bank bailins law for deposits and insure the whole deposit amount. Will they do that? Hell no😅
@cassie5344Күн бұрын
The four options for fixing the problem that are enumerated near the end of the interview... for more prudent behaviour on behalf of the banks, the consequences being to raise the cost of banking. This for me is the most important insight of the entire interview. What we are saying is that we--the banks and the citizens who underwrite the elected government who authorizes the banks--seem to want to avoid doing the right thing because it means it'll somehow cost us more and we don't believe it's worth it. We've made money our highest value. Why is that?
@EmilyHamsterLover2 күн бұрын
All big business in Canada have laws that state the government and people's taxes have to pay a bank or big business , if it fails in Canada. So banks can't loose.. if only by design. Otherwise big business wouldn't do business in Canada without taxpayer bailouts
@gregisaacs75462 күн бұрын
Very true. Banks are a great investment because the government won't let them fail.
@SilverSquirrelКүн бұрын
Crazy talk! Everyone knows that budgets balance themselves'.
@SharonGarrison-t4h21 сағат бұрын
Wowza!
@momzies9315 сағат бұрын
😂 good one!!
@BillyKaz-no6pf2 күн бұрын
As prudential as Canada s historic banking system is , the tie to US / investment has downgraded the system. The exposure to the US 35 Trillion debt- US treasury holdings - the Canadian 5 big banks looks less stable to those in Europe and Australia/ NZ .. who are just as prudent and regulated .. but no exposure to the US treasuries and long term US liquidity on recall
@canadianstacker2 күн бұрын
Having banked in both the USA and Canada, I would much rather have my money in a Canadian Bank. Much safer & your money is less likely to become inaccessible or disappear.
@Hazara26Күн бұрын
But if you fund or take part in protest against a corrupt government then you won't be able to get your money in Canadian banks.
@donmacquarrie9161Күн бұрын
😂
@kristinashepherd3003Күн бұрын
😂😂😂 that is so delusional
@WaterDude1Күн бұрын
If that's where you are saving your money you are already losing it daily! lol
@sophrosyne5900Күн бұрын
Unless you have an opinion Trudeau doesn't like . Then POOF! your account just disappears 😁
@HotrodtillyКүн бұрын
Fake printed money, it is all debt. Get gold and silver before it is too late!
@luciodelgadoКүн бұрын
CREATED BY DESIGN! CBDC FOR 2025! Bank control on your account.
@Larry.RobertonКүн бұрын
The taxpayers support Bank losses. Banks can never fail.
@2coolartsmusicmom57210 сағат бұрын
Yes CMHC insurance that the buyer pays for is to protect the bank if the mortgagor fails to repay his debt. Essentially the govt is insuring the bank if a loan fails and the govt uses tax payers money! So we the tax payers will pay the bill if a mortgage defaults.
@unknownknown2776Күн бұрын
At the risk of sounding shallow, this was the most annoying guest I've ever listened to in an interview!!
@nicolasbenson0097 сағат бұрын
The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
@TinaJames2227 сағат бұрын
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
@tatianastarcic7 сағат бұрын
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
@Vincent-j8u7 сағат бұрын
This is striking! could you share info of your advisor, please? i'm in dire need of asset allocation and standing at a crossroads, whether to sell-off or keep holding my positions, my portfolio is retrogressing bad as of late
@tatianastarcic7 сағат бұрын
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@sharonwinson-m8g7 сағат бұрын
She appears to be well-educated and well-read. I just ran a Google search for her name and came across her website; thank you for sharing.
@iceytulips8541Күн бұрын
WWG1WGA NCSWIC the Storm has arrived LFG 🎉🎉🎉🎉
@DawnStyleArt23 сағат бұрын
Interesting how he doesn’t address WHY PEOPLE LOSE CONFIDENCE IN BANKS.
@mrveritas700Күн бұрын
USA is over 35 trillion in debt for money printing at the Federal reserve bank. Canada is well over a trillion in debt, and climbing. Due to printing money and giving it away... A trillion is 1000 Billion for the ignorant.
@marciamenage93117 сағат бұрын
5 Canadian banks were bailed out in 2007/8 and that was kept silent, the banks are not strong and are probably heading towards technically insolvency, if not there already, will some fail...if house prices drop then tht insolvency will become a reality.
@SinghSajal2 сағат бұрын
Both governments are to blame. Control Housing Mafia and step away from Oligopoly, everything will be sorted.
@BhgjjjКүн бұрын
As long as the US is printing money, so can we. You can inflate forever. The deficit doesn’t matter as long as wages keep up. One day you’ll make $500/hour and a loaf of bread will be $50.
@KathiOsborn22 сағат бұрын
A new banking system will soon take the place of the current corrupt system before anyone ever makes 500./hour and bread is 50 bucks.
@c00121314brave15 сағат бұрын
Buy gold!
@alastairwheeler353121 сағат бұрын
Now they tell us (instead of a year or two ago)
@The_Coffee_Rabbit_Hole4 сағат бұрын
The system is failling because the money is not sound anymore. Plain and simple
@KathiOsborn22 сағат бұрын
Out with the old, in with the new, let's goooooooooooooo!
@tigalbaby23 сағат бұрын
Is he short the Canadian bank etf?
@jordanluenz92632 күн бұрын
What other industry profits from lending that which is does not have?
@mikeboate208Күн бұрын
Native Americans?
@Mikk-t2oКүн бұрын
Millions of businesses do u order n recice good from wholesalers n pay later
@marbarosi17 сағат бұрын
Meaning, get out ISDA banks. Anything that holds derivatives. Dangerous
@davidhughes60482 күн бұрын
With the exception of Alberta, I believe, Canadian banks issue recourse mortgages. So borrowers can’t simply hand in the keys to the lender. The lender can go after the borrowers other assets to make things whole. In the US, many states (Cali, NY, Texas among others) issue non-recourse mortgages, so of course there is greater risk to the system if the housing market fails. I think this is a big difference. Canadians will do what they can to pay their mortgages, and with the lack of interest deductibility, they are not induced that way to overextend themselves. Will we have a housing downturn? Sure. I wouldn’t be surprised to see house prices where they are now in 2035. But I don’t see a bank failure unless there is a much greater economic disruption caused by unemployment spiking.
@stephaneperron98522 сағат бұрын
You can add all the static rules you want but if you continue to fudge key economic indicators and manipulate financial markets, nothing changes. Anyone who knows economics will confirm that the CPI is poor measure of inflation and that your MPAC assessment is based on city finances, not the actual value of real estate. The real economy and the notional one are completely detached. That is the real problem.
@1cognite117 сағат бұрын
No one has any idea how to go about fixing it. Trillions in debt can’t ever be paid back
@StephanieG.Augustus14 сағат бұрын
There are always new challenges and a constant need to stay updated with stock market news, current regulations, industry trends, and the latest financial products.
@Saviourtina-c4i14 сағат бұрын
As the stock market continues to expand, there are plenty of opportunities to work with international clients and manage foreign investments.
@KarenJ.Mancia14 сағат бұрын
Several individuals minimize the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
@CharlesT.Foster14 сағат бұрын
That makes perfect sense; you seem to have a better understanding of the market than we do. The coach is who?
@KarenJ.Mancia14 сағат бұрын
'Stacy Lynn Staples' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@Saviourtina-c4i14 сағат бұрын
I just Googled her name and her website came up right away. It looks interesting so far. I sent her an email and i hope she responds soon. Thanks
@Drummond-rh8ur15 сағат бұрын
I'm at BMO Harris. Is that safe?
@the_curmudgeon1975-bp4hc2 күн бұрын
terrible audio
@jordanluenz92632 күн бұрын
He is a weak speaker.
@Bufford202423 сағат бұрын
Oopsie, no vaulted moola ... now goin pooopsie! Yikkes. The maple syrup bank tank just sprung a big ugly leak. Thus, it was predictable if not inevitable. National moral, cultural, and money bankruptcy just ahead. E-bank runs right about ... hmmm .... now. Thanks, Justin and grift gang. 😮
@berthelvetic192311 сағат бұрын
Even the swiss banking are not safe anymore.
@chrisrose515920 сағат бұрын
Trudeau, Freeland, our financial Ministers liberal inflationary spending !
@GroupVachon2 сағат бұрын
Sound quality was terrible
@gingerkilkus6 сағат бұрын
I am really worried about the current bank crisis/interest rates, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the Canada's dollar or is this a good time to buy gold?
@BernardFrederick-tk7un6 сағат бұрын
It’s always a good option to keep some gold. Well with the current market situation and everything at stake with the present economy, I’d say you’re better off staying away from stocks fr awhile or better still reach out to an adviser for guidance.
@williamDonaldson4325 сағат бұрын
True, a lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $100k to approx. $323k so far.
@foreverlaura-fq4eu5 сағат бұрын
@@williamDonaldson432 How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
@foreverlaura-fq4eu5 сағат бұрын
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
@williamDonaldson4325 сағат бұрын
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about 3 years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
@lisanovakowski466714 сағат бұрын
What is the Bank of International Settlements up to, really?
@MichaelSmith-yr8rb20 сағат бұрын
There was a jubilee 50 year debt forgiveness year after 7x7 years Is there some way to forgive debts There was manna on the ground every morning to sustain peoples lives and it coudnt be hoarded Could we start a circular economy with a national economic dividend and transform this moloch capital system to a commercial system that includes mercy
@ameerhamza404622 сағат бұрын
was feeling depressed, not anymore....
@js-wq6zyКүн бұрын
Ya so, any data to say it is coming?
@jasonhenn734515 сағат бұрын
Plus bail in laws, kiss ur money good-by, and own nothing, and be happy,, or else
@skyw4278Күн бұрын
Tether deals with more money than visa...financial world has changed.
@mr-of4kdКүн бұрын
This is expected
@audiearmorer268617 сағат бұрын
Not to interesting since you never mentioned the rise of FINTRAC industry in this financial market ....???
@JunlaiAiguoКүн бұрын
One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $30k of my savings in stocks this year, and I hope I make profits.
@Chenghaop3Күн бұрын
You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
@BaozhaiDongmeiw2Күн бұрын
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
@Josephtimothyq5Күн бұрын
I really want to get in with a financial advisor this year, especially as all markets are hitting highs. I don't want to be too optimistic and end up losing everything.
@BaozhaiDongmeiw2Күн бұрын
NICOLE ANASTASIA PLUMLEE' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
@Josephtimothyq5Күн бұрын
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
@VinManKuz15 сағат бұрын
The mitts on this gal😮
@AnanthaNatureFotos6 сағат бұрын
Basel 3 compliant? Sofr
@mat37142 күн бұрын
Yea....that's a clickbait
@michelprudhomme-fy6xv2 күн бұрын
We have the best bank system in Canada we are not the US
@KathiOsborn22 сағат бұрын
LOL, no we don't, no country in this world has a great banking system, but soon we all will.
@robertduklus655518 сағат бұрын
We have the dumbest most gullible citizens that's for sure
@berthelvetic192311 сағат бұрын
Dreamer.
@berthelvetic192311 сағат бұрын
Only your own bank ( precious metals) is safe for you. If all bank customers have to balance all cc and mortgage account tomorrow evening, we ll see, nobody have anything of value left. Everybody is in debt.