Canada's banks should prepare for a failure

[@austinbar266]

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." Thomas Jefferson.

[@rogerwheelers4322]

Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply focus on diversified investments through a financial advisor, collect my profits, which I either spend or repeat the process. Never been this comfortable with my finances.

[@joshbarney114]

I have learnt not to trust corporations, especially these banks. I was badly hit by the '08 financial crisis. Since 2019, I've just been focused on investing through a financial advisor and it has been paying off. No major loss has ever been recorded since 2019 i started. I'm closer to having over a million dollars now than i ever was with the banks. I'm never going back to banks full time.

[@FabioOdelega876]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

[@joshbarney114]

‘’Marisa Michelle Litwinsky’’ 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.

[@FabioOdelega876]

I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.

[@joshdoddadbod]

Privatize the profits, socialize the bailouts. These folks cant fail, unfortunately.

[@ameerhamza4046]

What??

[@theNorth473]

I mean I love your comment but they have to fail to trigger the bailout

[@ICFUBAR]

until the socializers (govt and its central bank) become insolvent

[@IggyArssie]

@@theNorth473it’s not going to be a bailout it’s going to be a BUY IN… look it up ppl

[@grunt7684]

@@theNorth473 Which means they DON'T fail. At _OUR_ expense. Plus, bail-ins are baked into the Canadian banking system...

[@gingerkilkus]

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-tk7un]

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.

[@williamDonaldson432]

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-fq4eu]

@@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-fq4eu]

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?

[@williamDonaldson432]

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.

[@jerrycampbell-ut9yf]

A perfect storm is brewing in the United States. Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place. It's all coming together and it could lead to a real disaster towards the end of this year (or sooner). With inflation currently at about 6%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains

[@Peterl4290]

Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival

[@Mrshuster]

I think it's brilliant to use a brokerage advisor for investing. Prior to speaking with an advisor in the heat of the 2008 financial crisis, I was actually experiencing terrifying nightmares. In summary, with the assistance of my advisor, I have grown my initial $120k investment to over $550k.

[@sabastinenoah]

I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?

[@Mrshuster]

Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@sabastinenoah]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@StephanieG.Augustus]

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-c4i]

As the stock market continues to expand, there are plenty of opportunities to work with international clients and manage foreign investments.

[@KarenJ.Mancia]

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.Foster]

That makes perfect sense; you seem to have a better understanding of the market than we do. The coach is who?

[@KarenJ.Mancia]

'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-c4i]

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

[@BillyKaz-no6pf]

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)

[@bigsid3011]

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-kb9rd]

Define "Canadians"

[@tonyfulford3175]

@@Alex-kb9rd Is Trudy paying you to be a troll ?

[@DaveyC99718]

@@Alex-kb9rdAnyone who isn’t a Libtard

[@mat3714]

Ah shut up russian troll

[@jz12390]

@@Alex-kb9rd Good question.. Who knows what is a Canadian these days..

[@neilbertram1922]

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?

[@IggyArssie]

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 😮

[@mattonm]

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.

[@MPIronmanJC]

Credit unions don't follow that cap. BC credit unions insure 100% of deposits.

[@ftrudeau]

Yes $250mm in the USA but both the FDIC and cdic are bankrupt and only have 1%, and their insurance companies can't afford to insure the insurance because that amount of money can only be created digitally.

[@KimA67.]

@@ftrudeau ... Thank you ... Sadly, my siblings believe in the main stream media ... I saw videos last couple years that showed the FDIC and CDIC being bankrupt. Could you direct me as to where I get the stats today on this. I tried calling the CDIC a couple of years ago. They dont discuss facts on the phone and I was told I had to email them, would take time for them to get back to me. That would be real nice if Sh*t hits the fan. Thank you.

[@nicolasbenson009]

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?

[@TinaJames222]

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

[@tatianastarcic]

People often overlook the value of financial advisors until they experience the downside of emotional decision-making. I recall a few summers ago, after a difficult divorce, when I needed help reviving my struggling business. I did some research and found a licensed advisor who worked diligently to grow my reserves, even amid inflation. As a result, my reserves grew from $285k to around $720k.

[@Vincent-j8u]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@tatianastarcic]

Melissa Terri Swayne can't divulge much. Most likely, the internet should have her basic info, you can research if you like.

[@sharonwinson-m8g]

Thanks a lot for this recommendation. I just looked her up on google, and I have sent her an email. I hope she gets back to me soon.

[@SilverSquirrel]

Crazy talk! Everyone knows that budgets balance themselves'.

[@momzies93]

😂 good one!!

[@franzkafka293]

Yah! Vote Liberal!

[@algernon2005]

That's what HE said

[@SilverSquirrel]

@@algernon2005 some people kinds kids!

[@alaine57]

Insanity of the corrupt incompetent leader Trudeau

[@KM-sr9cc]

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)

[@calgarytek]

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.

[@marcelmed4574]

lol, so when does the crash happen, this month, next month… when?

[@thomashowe5374]

As soon as the carbon tax is removed inflation will ease. This is the major reason why we have the inflation problem.

[@calgarytek]

​@@thomashowe5374 It will only have a temporary effect until the next 'crisis'. Our inflation problem is due to a persistent reliance on oil, government spending (Conservatives, Liberals, NDP all suck) and most of all extreme lack of private sector competition within Canada.

[@parkerbohnn]

You mean due to a 68 or 69 cent dollar.

[@luciodelgado]

CREATED BY DESIGN! CBDC FOR 2025! Bank control on your account.

[@ccheg3949]

Yes, there was even a survey on the Bank of Canada's website last spring over developing a CBDC. Very bad!!!

[@NecTeezay]

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

[@drscopeify]

If you let a bank fall you risk a systematic collapse of trust in the economy, that's 1929, you might lost 1 bank but the entire system could get dragged down.

[@FeriaAllenkempf]

I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.

[@FeriaAllenkempf]

Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!

[@GregArnst-s3r]

Wow that's huge, how do you make that much monthly?

[@GregArnst-s3r]

I'm 37 and have been looking for ways to be successful, please how??

[@FeriaAllenkempf]

It's Ms. Susan Jane Christy doing, she's changed my life.

[@FeriaAllenkempf]

I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Susan Christy, you're a miracle.

[@FranklinRodriguez-ri4zu]

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..

[@kristinashepherd3003]

@@FranklinRodriguez-ri4zu The thing is Canadians are at a higher disadvantage because Canadians carry more household debt than Americans now . The household debt in Canada is 7 percent higher than the GDP. Canadians are going to experience the Americans 2008 global recession now and I’m not going to be effected but it’s truly sad that many people will be homeless and unemployed and the economy isn’t even predicted to get better in like 30-40 years from now

[@distanttraveler6531]

@@kristinashepherd3003 this is what happens when people vote for Trudeau/Singh for 10 years

[@cassie5344]

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?

[@The_Coffee_Rabbit_Hole]

The system is failling because the money is not sound anymore. Plain and simple

[@iam1smiley1]

BRICS will be the gold standard 😂

[@doinafred3049]

❤need Harper to come back.

[@nancy_cod]

I've been an investor in Apple, gold, housing market as well because I strongly believe in them, I've always believed in the stock but now I don't know if to re-distribute my portfolio and put some money in Nvidia or Tesla especially now that we are experiencing a market correction

[@andrearoman9003]

Both stocks have a long term potential, The most important thing is the ratio of the distribution based on the financials of each company. There are many other companies that are also doing well. You could just hire a financial advisor to guide you. A financial advisor really does help me do the distribution even between different asset classes. I don't even understand technical financial terms much. I just know I make really good profit, and I don't have to stress myself a lot

[@nancy_cod]

I've got similar problems and I have also considered using an FA but I don't know how to go about it. Please, what are the steps for getting one? Like a really good one

[@andrearoman9003]

Gabriel alberto william is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment

[@nancy_cod]

Thank you for the recommendation. I'll send him an email, and I hope I'm able to reach him and connect

[@ccheg3949]

I stopped following the stock markets a long time ago. Now I read the government platforms and invest according to what they are pushing in their bills. Ie: Liberal's platform is pushing "green energy," so invested in EV manufacturing, vaccine development and manufacturing, batteries, battery manufacturing, mining for their raw materials (silicone for chips), charging station development companies, charging station service companies, solar, wind, hydro etc...Then I will dump according to the next leader's platform for the next election and invest according to his platform....

[@kelvinjohnson4]

I'm no longer confident in my strategy following the recession. I'm approaching retirement with comfortable millions. What's the most effective strategy to protect my cash reserve?

[@KelvinWallace]

Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, than save for retirement.

[@Markjohnson09]

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

[@halimatanko7538]

That makes perfect sense; you seem to have a better understanding of the market than we do. The coach is who?

[@Markjohnson09]

My CFA ’Marisa Michelle Litwinsky’ , 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.

[@halimatanko7538]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

[@Hotrodtilly]

Fake printed money, it is all debt. Get gold and silver before it is too late!

[@lmtada]

Not yet.

[@des_smith7658]

Five years ago

[@canadianstacker]

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.

[@Hazara26]

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.

[@donmacquarrie9161]

😂

[@kristinashepherd3003]

😂😂😂 that is so delusional

[@WaterDude1]

If that's where you are saving your money you are already losing it daily! lol

[@sophrosyne5900]

Unless you have an opinion Trudeau doesn't like . Then POOF! your account just disappears 😁

[@jhelpj]

There is nowhere near the funds set aside to guarantee your funds in any bank in Canada. Check out the Bail in Law. Your money in the bank is not yours.

[@parkerbohnn]

This is the only reason I'm happy Trudeau is the Prime Minister. I know he'll at least cover all the GIC's to at least the Canadian deposit insurance limit.

[@gereral1_jackofalltrades]

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😅

[@unknownknown2776]

At the risk of sounding shallow, this was the most annoying guest I've ever listened to in an interview!!

[@DawnStyleArt]

Interesting how he doesn’t address WHY PEOPLE LOSE CONFIDENCE IN BANKS.

[@troubadour6987]

Why?

[@IamJonny-o4v]

It's quite simple why rates are climbing with rising imports and falling exports, the FED is obviously to be blamed for banking crisis. Something will eventually break if they keep the quantitative tightening and higher interest rates. Is this really a good time to have some savings in stocks?

[@LUCIASMITH-d1z]

first austerity, then brexit, now widespread bank failures. .always do your own research & speak to a license advisor before thinking about putting your money into these crazy markets

[@MattsMkia]

Exactly, most youtubers said the market would be fine few months back, but it's been a major downturn. I've avoided the drawback of trial and error by simply following professional guidance. I'm semi-retd and work only 7.5 hours weekly, with nearly $1m ROI after subsequent investments to date.

[@JacobsErick-u8r]

this is incredible! how can I vet your advisr, mind sharing info, if you please?

[@MattsMkia]

The decision on when to pick an Adviser is a very personal one. I take guidance from Melissa Terri Swayne to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.

[@winifred-k9e]

curiously copied and pasted her full name on my browser, no sweat spotting her site. Ive seen commentary about advisers but not one that looks this phenomenal, very much appreciate it

[@Mapleveeuu]

The underlying issue, that rarely gets mentioned, is that a few corporations have taken over the government. Our politians are paid for spokespeople for corporations. For the past few decades, legislation has been written to benefit business and not humanity. The corporations know if they fail, we bail them out. That's why failure is imminent:

[@huskavarnapunkband]

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

[@gregisaacs7546]

Very true. Banks are a great investment because the government won't let them fail.

[@happydaze7386]

Only the Canadian people can fail 😞

[@happydaze7386]

The money people keep in the bank belongs to the bank not the client, most people don't understand this.

[@BillyKaz-no6pf]

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

[@masterfrio07]

35 trilhoes*

[@c00121314brave]

Buy gold!

[@toastedone2478]

People do bank runs because they fear their money will be lost. If the CDIC insurance covers 100% instead of 100k, then people will have less fear of losing their money and less likely to pull their cash. The current CDIC cap at 100k does not fit the times, it is simply insufficient.

[@marciamenage931]

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 that insolvency will become a reality.

[@parkerbohnn]

America bailed them out.

[@marciamenage931]

@@parkerbohnn Yep, and some months back the finance mimister got another 3 billion $ for canada. By the way she hasnt even done accounting 101! and then they have a drama teacher for a prime minister,,,

[@martinroncetti4134]

My trust in Canada’s banks dropped drastically during the Freedom Convoy with the unlawful (IMO) freezing of accounts.

[@alastairwheeler3531]

Now they tell us (instead of a year or two ago)

[@parkerbohnn]

Losing the Wealth One Bank of Canada wouldn't hurt a lot of people.

[@tigalbaby]

Is he short the Canadian bank etf?

[@Larry.Roberton]

The taxpayers support Bank losses. Banks can never fail.

[@2coolartsmusicmom572]

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.

[@truecanadian1616]

Are they saying that Canadian Banks shouldn't have loaned massive sums to Peoplekind who couldn't afford any increase in interest rates ?? Now where have we heard that before and did those in the Financial sector learn anything ?? I have a floating LOC and have seen the large increase in interest ($600/mo to $1400/mo) over the last two years as Justin's toadie at the Bank of Canada uses the strategy typically used to cool a hot economy. I defy anyone to suggest that Canada's economy under Justin is anything but cold and getting colder. Can't destroy all the resource sectors of a resource-based economy for a bunch of Climate Change Virtue Signalling without landing in the dung pile evidently.

[@SinghSajal]

Both governments are to blame. Control Housing Mafia and step away from Oligopoly, everything will be sorted.

[@jordanluenz9263]

What other industry profits from lending that which is does not have?

[@mikeboate208]

Native Americans?

[@Mikk-t2o]

Millions of businesses do u order n recice good from wholesalers n pay later

[@Oldwiseguy-59]

No, Canadian banks need to offer new mortgages at par or at a loss to stay afloat knowing full well rates are going back down to 2-3% and this is better than having people default.

[@Imsosmrt1999]

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.

[@joebazooks]

Yes, let’s get rid of fractional reserve banking!!

[@HumphreyDeFirst]

Financial institutions should seek alternative means of generating more liquidity from foreign partners like Singapore and Saudi Arabia

[@iceytulips8541]

WWG1WGA NCSWIC the Storm has arrived LFG 🎉🎉🎉🎉

[@buddha7178]

Unlike India, Russia or China, Canada has no Gold.

[@martinb4093]

Resolution should come with sound money. It's time for Austrian econonomics and let's forget this kansyan fiat debt based system

[@cameraboycf]

Cant fix a system that is designed to fail!

[@mrveritas700]

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.

[@kmilton1593]

Mr. Zelmer's "four options for banks" could have included one more option: bank assets should be backed by gold holdings.

[@UnlimitedMoops]

there would seem to be a risk that measures might incentivize bank officers to engage in riskier behaviour if they felt they were effectively insured by the government against short-term runs on volatile deposits. Runs are a very obvious risk and, doubtless, the cost of insuring against them is rising as a greater percentage of the population adopts mobile banking. Perhaps the intent is to extend these guarantees to smaller institutions as well? Or would this be limited to financial institutions which are considered too big to fail? It would seem to create an inherent advantage which dis-incentivizes prudent agility and innovation but perhaps this will be further expanded in another interview.

[@JM-xp8te]

Get all your money out of the banks!!!

[@jasonhenn7345]

Plus bail in laws, kiss ur money good-by, and own nothing, and be happy,, or else

[@KathiOsborn]

Out with the old, in with the new, let's goooooooooooooo!

[@lesdeacon-rogers9845]

Thank goodness I don’t have enough money to worry about a bank failure in Canada. I’ll unpack my hopes and prayers for the rich folk though. That should help.

[@highthereguys]

its not necessarily just losing deposits. It is also less lending. So lets say you have a line of credit, maybe the banks calls that in to shore up reserves. Maybe they cut it from 20k to 5k limit. Same goes for your HELOC and other such products.

[@secretagent86]

Long time bank stock owner. Study their balance sheets. Look at the safety factor in Canadian banks versus other banks around the world. Ok TD seriously screwed up their reputation recently. So did Wells Fargo but they got through it

[@brianmurray1395]

GET YOUR MONEY OUT OF THE BANKS!!!

[@good2goskee]

No charter banks will fail in Canada. 2 of the big 5 are gsib (TDCT and RBC). Gsib= globally systemically important= too big to fail. The big 5 DWARF the US SVB. Credit unions, trust companies.... maybe, but not the charter banks

[@parkerbohnn]

What about the Wealth One Bank of Canada?

[@good2goskee]

@@parkerbohnn never heard of it. This is a minnow and has AUM of 613M. Put this is into context, TD has AUM of 431Billion ie pushing almost 10x

[@1cognite1]

No one has any idea how to go about fixing it. Trillions in debt can’t ever be paid back

[@chrisrose5159]

Trudeau, Freeland, our financial Ministers liberal inflationary spending !

[@chippychick6261]

What are those steps? Is it too late?

[@Freedomjustice-DC]

Our money has no value. Changes coming. It isnt even soft enough for toilet paper.

[@briansokoloski776]

Most Important Facts Why are Canada's Major Banks Not Members of the BBB Across Canada Because Not Offering Honest Trusted Services, especially in FA Management Services and Overcharging Customers Equals Totally Sickening Respect Especially when Markets are Dropping Months at a Time

[@jasonrobertson5582]

What ever happens the banks will be on top and the people will pay for it as usual.

[@lmtada]

Where do we go hide?

[@DDoubleU8001]

Have about 10% of your wealth in physical gold.

[@stephaneperron9852]

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.

[@ds2488-l3w]

It works until it doesn't.

[@Drummond-rh8ur]

I'm at BMO Harris. Is that safe?

[@ItsmeSheeila]

When will people wake up We are headed for a Great Depression again in Canada All these investors pulling cashing in stocks Is a very bad sign and they know something we don’t

[@SB-zj2pm]

Your both in Toronto, why can’t you ever do a proper in person interview.

[@patriciamoore348]

My grandfather would always say" don't trust the banks".

[@parkerbohnn]

My grandfather always said "show me an honest man and I'll show you a poor man".

[@markstanich64]

NOT JUST CANADA THE STATES , AUSTRALIA,THAILAND , PHILLIPINES

[@marbarosi]

Meaning, get out ISDA banks. Anything that holds derivatives. Dangerous

[@ccheg3949]

Keep cash on you!! Enough to leave the country if need be!!

[@nkmatopycide4179]

TD will be fine!

[@NUCLEAR154]

😮Is BRICS & CRYPTO CURRENCY effecting the treasury 😊

[@josephfraley4432]

It is hard to have confidence in anything. Everything is being sacrificed on the altar of profit.

[@shelleyfortier1601]

They better NOT steal my money 🤬

[@billybobjimjackjoe5400]

Why should the banks prepare? They will ujust get bailed out with taxayers money....again

[@Bruce-b7p]

Rite . RBC made three billion in the last quarter.

[@VinManKuz]

The mitts on this gal😮

[@StevenCorwin-n9i]

Canada 🇨🇦 🍁 needs to wake up with coffee ☕️. Your President has been doing NOTHING but 😴. Sleep.

[@jay1645]

TD's US fine means we are still the money laundering capital of N.Am .. Can. banks were never fined during chinese ML runs from 2005 -17.

[@parkerbohnn]

You mean of the entire world as money laundering is a crime.

[@lisanovakowski4667]

What is the Bank of International Settlements up to, really?

[@georgebelansek4831]

Flawed logic. You say to focus on resolution more. Disagree. Focus must be to prevent problems. Don’t have the problem to resolve.

[@MichaelSmith-yr8rb]

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

[@ameerhamza4046]

was feeling depressed, not anymore....

[@berthelvetic1923]

Even the swiss banking are not safe anymore.

[@Rickristian]

Our banking sector regulations make them more solid than USA banks. But if the world uses a different currency than the usa greenback, USA becomes third world economy overnight. So too will canadian banks by then.

[@johnmitchell1955]

Fiet currency is not Gold backed!

[@jacob9583]

Cant wait to pay more taxes to bail them and all the over leveraged home investors out while I work for a living owning nothing

[@GroupVachon]

Sound quality was terrible

[@BCSTS]

Need captions....hard to hear this man

[@mr-of4kd]

This is expected

[@inthewilderness345]

Trudeau getting us ready for great reset!!!

[@johndeacon1496]

Excellent at pointing out the problem, poor on specific actions retail customers could take to protect themselves. Did he do this purposely? Sounds like he knew what the people should do to protect themselves but refused to share. The result? "Useless information to fire our imagination, can't get no! Satisfaction." 👎

[@auric7482]

Oh….. that’s not good

[@DigitalDividendDollar]

Everyone ask your MP for YOUR interest-bearing central bank digital currency

[@karinturkington2455]

It was difficult to hear him at times as his voice disappeared.

[@js-wq6zy]

Ya so, any data to say it is coming?