Tuesday, February 15, 2022

Collateral damage.

During the press conference yesterday, Finance Minister Freeland stated:
"As of today, a bank or other financial service provider will be able to immediately freeze or suspend an account without a court order. In doing so, they will be protected against civil liability for actions taken in good faith."
She has evidently not considered the downstream consequences for Canada's regulated banks: People will move their funds, en masse, into places out of Canadian government reach.
That means that the Canadian Banking system will lose a lot of capital. Another example of flawed and incompetent thinking and behaviour by the Trudeau government.
The main problem that Prince Justin and his cohorts have is that they don't understand the depth of feeling in, and extent of the movement they are dealing with, believing them to be a fringe minority.

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