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1/3 Finance Minister "Chrystia Freeland wants ideas from BNN bloomberg viewers: How can the government unlock the cash hoards of Canadian businesses and households to help with the country's economic recovery?
In other words, the feds want to TAKE individual Canadians savings
In other words, the feds want to TAKE individual Canadians savings
to stimulate the economy. This is Bill C15 (Bail-In legislation) passed in 2016 and originally floated in 2014 by the Harper govt. More links and info will be provided in comments.
If you still aren't convinced that COVID is part of a bigger, nefarious agenda and still 2/3
If you still aren't convinced that COVID is part of a bigger, nefarious agenda and still 2/3
think it's crazy to fight back for freedoms and against ridiculous mandates, you should be the first to give it all up. Why aren't you asking about the ridiculous PCR testing and zero therapeutic and treatment protocols in Canada including Hydroxychloroquine? Wake up Canada. 3/3
For those unfamiliar with this feature of financial services regulatory reform, the basic concept of bail-in is that certain stakeholders of a bank that finds itself in the remote circumstance of being in severe distress will be required to support the... https://www.mccarthy.ca/en/insights/articles/federal-government-introduces-bail-legislation-bill-c-15
When the Harper government floated the idea of a bail-in regime in 2014, Moody's cut its ratings on Canadian banks. https://www.cbc.ca/news/business/banks-bail-in-1.3504183
The purpose of the bail-in regime is to allow for the expedient conversion of certain bank liabilities into regulatory capital in the highly unlikely event that a domestic systemically important bank (D-SIB) becomes non-viable.
https://www.torys.com/insights/publications/2016/04/bill-c15-implements-bank-recapitalization-regime
https://www.torys.com/insights/publications/2016/04/bill-c15-implements-bank-recapitalization-regime
If a bank becomes financially distressed the government can step in front of bond holders (people who own bank debt} and convert their bonds to common shares so the bank can remain solvent; Explained in simple layman terms.
NOTE: if any corporation becomes insolvent/bankrupt 1/2
NOTE: if any corporation becomes insolvent/bankrupt 1/2
the bond holders get paid first when that corporation's assets are sold off and common shareholders get paid with whatever is left over, which is usually nothing/shit out of luck.
In a nutshell the creditors/bondholders get paid first, equity common shareholders get paid second.
In a nutshell the creditors/bondholders get paid first, equity common shareholders get paid second.
