Canada Largest Bank In Trouble

Discussion in 'In the News' started by Martin Alonzo, Apr 20, 2021.

  1. Martin Alonzo

    Martin Alonzo Supreme Member
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    Canada’s largest bank collapsed Friday after hours, dropping 64%
    Canada’s largest bank, the Royal Bank of Canada or RBC, with $1 trillion in AUM and the largest stock in the TSX, crashed 64% after hours on Friday with no explanation.
    Today, customers en masse were locked out of their RBC accounts and RBC is closed.
    Trudeau and Freeland release the budget tomorrow. Rumours are that RBC is insolvent, has begun seizing customer’s bank deposits to stay solvent and that Trudeau and Freeland will bail out RBC (and other banks) with their budget.
    There is a rumor of world rest so I wonder if it has started
    https://duckduckgo.com/?q=Royal+Bank+of+Canada+collapsed&t=palemoon&ia=web
    Yet to hear any main street news covering this
     
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  2. Bobby Cole

    Bobby Cole Supreme Member
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    Probably because it would cause runs on their banks in places like Mexico and even the Bahamas.
    I dealt the the Bank of Canada when I lived in both of the countries I mentioned and frankly, I didn’t like them 40+ years ago.
     
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  3. John Brunner

    John Brunner Senior Staff
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    Too Big To Fail = No Reason To Care
     
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  4. Don Alaska

    Don Alaska Supreme Member
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    It may be the first of the big financial institutions to fail. There may be dominoes that bring down many an economic system. The FDIC and such have only a fraction of the reserves they need to cover major failures. It could be interesting. Hopefully they won't just take our money as happened in Cyprus a number of years ago. Of course, hyperinflation accomplishes much the same thing.
     
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  5. John Brunner

    John Brunner Senior Staff
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    Might be just the excuse they've been looking for to seize retirement assets.

    Responsible people are so easy to demonize in the New Amerika.
     
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  6. Martin Alonzo

    Martin Alonzo Supreme Member
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    Maybe they should do what Iceland did drag out the bankster and throw them in jail it work good there.
     
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  7. Bobby Cole

    Bobby Cole Supreme Member
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    I think it was back around 2016 when the banks in Greece failed. Greece still hasn’t seen a full recovery from that episode.
     
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  8. Don Alaska

    Don Alaska Supreme Member
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    I think that was in part due to the entanglement with the EU. Germany dictated what Greece was going to do. Greece used to just inflate their way out of trouble, but the EU prevented that because Greece alone could not inflate the Euro; only Germany or perhaps France could accomplish that.
     
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  9. Jeff Elohim

    Jeff Elohim Very Well-Known Member
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    ...
    Friday at the end of the active day, options that were purchased previously were executed at the last moment, perhaps causing "appearances" of a collapse. When the market re-opened, the prices rebounded right away - no danger at this point and no indication from this that the bank was in danger of collapsing at any point. Any and all banks may 'crash' or simply be closed before tomorrow, by the powers that be already in control for decades.
     
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  10. Martin Alonzo

    Martin Alonzo Supreme Member
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    Too many coincidences for me something is happening and we do not get the real story.
     
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  11. John Brunner

    John Brunner Senior Staff
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    If enough options were exercised at the same time on the same day to make it seem as though the institution was collapsing, a reasonable man would assume there's something going on.
     
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  12. Susan Paynter

    Susan Paynter Very Well-Known Member
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    Very strange, after I read your post I googled it and I saw the post, people were locked out of their accounts, etc etc. I sent out a few feelers to some people and they got back to me saying there was no such post of Google. It's very concerning!?
     
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  13. Martin Alonzo

    Martin Alonzo Supreme Member
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    Of-course Google will not remove information or ban people. Ha Ha Put the same request for info. into other search engines like Duck Duck go and see what you get. .
     
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  14. Jeff Elohim

    Jeff Elohim Very Well-Known Member
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    Yes.
    Something was going on.
    On purpose.
    To make money.
     
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  15. John Brunner

    John Brunner Senior Staff
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    [​IMG]
     
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