Confiscation of Savings in Canada Has Always Been Legal Because IT'S NOT YOUR MONEY

Stories about Cyprus-style forced depositor haircuts have been in the news lately because buried on page 145 of the latest Canadian Budget is the paragraph : 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. In case you aren't familiar with bankster jargon, deposits are not “assets” they are “liabilities”. A plan that would turn “certain bank liabilities” into regulatory capital is a plan to confiscate deposits.

Financial analyst Martin Weiss warns troubled Cypriot banks are canaries in the coal mine. Despite the fact that depositors didn't create the problem, speculators, and bankers created it, they/we will pay instead of the banks shareholders. The policy of depositor confiscation having been accepted in Cyprus with barely a whimper from folks outside that country means it could now show up anywhere.

Toady's article in the Terrace Daily titled 'A Short Commentary on Banking and Money' by Divid Ealing, explains why its not our money, it's theirs. As much as is needed can be seized, anyone's life savings can be wiped out and there’s no place to hide.

Here's a few paragraph's from Divid's excellent piece. Please read them because, as the old saying says, forewarned is forearmed:

There's a reason the government can take your money and give it to the banks. The truth is, IT'S NOT YOUR MONEY! Let me say that again, it's not your money!

To help you get used to this idea think about it in this way. If you borrowed a tool, let's say a rake from your neighbour, you never own the rake. Your neighbour has just granted the use of it to you. When your neighbour wants it back he or she just asks for its return and it must be returned. Now let's say another neighbour needed a rake for a short time and you allowed that person to use it. If the owner wanted it back he or she would be able to go to the second borrower and claim it back. The ownership of any borrowed item is never in doubt. The owner always has legal claim to it.

The same principle applies to borrowed money. Look at any Canadian bank note and you'll see the owners name clearly stamped on it. It reads, BANK OF CANADA – BANQUE DU CANADA. At any time the Bank of Canada can instruct the government to claim its property and to place that property wherever they wish. The Bank of Canada has the same right as any property owner. The right to its property.