Pg 145 of budget

[cottonpicken]

The government of canada just told us they would do
exactly what the cyprus government did.

I dont watch mainstream news but i bet its safe to say
they didnt say a peep.Keep everyone watching b.s
issues like gay marriage and dancing with the stars.

[BFW]

The way i read it is the government is ensuring that the big domestic banks hold capital in reserve to replace money lost in a potential event such as the 2008 financial crisis. The American taxpayers where essentially held hostage by the "too big to fail" banks there and were coerced into paying the ransom to stop the system from imploding or financial armageddon as the bankers would have had us believe. Looks like the conservatives are learning from the mistakes of others and are trying to protect Canadian taxpayers with these measures.

[hobbyfrmr]

cotton, I have to agree with you. Im not the quickest bunny in the forest, but, I have noticed that most news broadcasts are strangely twisted towards the entertainment side of things instead of serious issues. It seems like in North America people expect to be amused at all times. Phones, games,crappy news, amateurs skating, singing, dancing, competing with each other by sitting in a house together. That is odd.

[cottonpicken]

I wonder what percent of the population knows that
their money isnt actually in the bank,its been lent or
invested and is subject to counterparty risk,fractional
reserve banking.

One of the reasons bank runs are scary.

These are private companies,kind of funny in a car
accident sort of way.

[checking]

When you grow up cp you will come to the realization that few care about your causes, even if your cause should be their cause. The only one you can rely on is yourself, and if you're lucky, your family.

Sure, you tell a touchy story on a Cypriot, maybe even plan your own cp riot, but really who was to blame. Could it be, we the people of Cyprus, which forms the government, or is it the retiree who puts his supposed entire wealth in one bank's basket that totally fails? Would you do that? I think not, nor would you hold out hope that just because those savings were in Australian dollars that they would be exempt. They would be the last to be protected, and the first taken.

What we are led to believe what he did is about as crazy a move as being 100% invested in paper gold.

[parsley]

Derivatives nightmare is coming home to roost.

[jensend]

according to comments on a cyprus article in the daily telegraph canada, the uk, the usa and new zealand have 'prepared documents outlining the need to confiscate deposits to save systemically important institutions'.

[BTO_farmall]

Glad I Ordered Another 10,000 Rounds 4My AR, Gunna Put Another Order in This Week!!!!!!!!!!! Lock n' Load Boys!!!!!!!!!!!!!!!!

[cottonpicken]

Checking,just my opinion on things.

Not everyone reads the budget on good friday,and
even my wife would agree with you that i am an idiot
for on doing so.

If i help even 1 person,even 5 years from now,it was
worth it.

[ColevilleH2S]

Thanks Cotton, always nice to hear your
angle on things like this.

I somehow always knew bto would be a AR
fanboy. Those plastic Mattel .223 guns
are usually fawned over by the limp
wristed. #FN-FAL ;-)