WARNING: Did you see what Trudeau slipped into the federal budget?
Did you see what Justin Trudeau slipped into the budget this week, hidden away on page 223?
It’s called a bank “bail-in regime”.
That means if a Canadian bank starts to fail, it would be allowed to seize your bank account to pay its bills. Seriously.
It’s what they did in Cyprus three years ago, when bankers there made risky loans to Greece. In a back-room deal, politicians and bankers decided to pay off the bank debts by just seizing 10% of everyone’s deposits.
The country had a melt-down. Banks closed, ATM withdrawals were limited. It was a disaster. Of course, well-connected insiders got all of their cash out in time.
It’s all right there in black and white in Trudeau’s budget.
This outrageous proposal is not yet law. But if Canadians accept it in silence, it will be.
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H/T The Rebel