Canada's largest banks are all offline.

[Kamaji]

The big day will be when social security becomes totally insolvent, and the dims confiscate everybody's IRA's and 401K's for a national retirement system. 

Yup.

But, I doubt if it will be an outright seizure.  Instead, you will be offered the "opportunity" to either exchange all of your private retirement arrangements (401(k), IRA, etc) for a sweetened social security pension, or else be subject to immediate tax on the full amount of the private arrangements (to the extent not previously taxed), and subjected to an additional surtax (don't want to call it a "penalty") on the value of the accounts for so long as they are outstanding.

[IsailedawayfromFR]

The big day will be when social security becomes totally insolvent, and the dims confiscate everybody's IRA's and 401K's for a national retirement system.

That's one reason I am distancing myself from the confiscation by reducing the amount in there each of the past 10 years and taking the tax bite now as it remains low until 2025.

[IsailedawayfromFR]

Yup.

But, I doubt if it will be an outright seizure.  Instead, you will be offered the "opportunity" to either exchange all of your private retirement arrangements (401(k), IRA, etc) for a sweetened social security pension, or else be subject to immediate tax on the full amount of the private arrangements (to the extent not previously taxed), and subjected to an additional surtax (don't want to call it a "penalty") on the value of the accounts for so long as they are outstanding.

That is how I feel it will take place as well.  The only defense is to minimize the amount in those retirement accounts to as low as you can go to provide buffer to the government reach.  After all, the feds believe it is their money as you have not paid taxes on it yet.

[IsailedawayfromFR]

I guess the banks are back online this morning.

Yes they are as the feds are providing them names of the Freedom Convoy members so the banks can freeze their accounts.

Canada Police to Send Names of Trucker Protesters to Financial Institutions
https://www.breitbart.com/politics/2022/02/17/canada-police-to-distribute-names-of-trucker-protesters-to-financial-institutions/

The government has way overstepped as it treats these guys as terrorists, as well as those who support them.

Every citizen of Canada is now wondering whether they will be the next target of the dictatorship in Ottawa.

[mountaineer]

That's one reason I am distancing myself from the confiscation by reducing the amount in there each of the past 10 years and taking the tax bite now as it remains low until 2025.

We've started taking a bit out of our IRAs each year, even though we don't have to. I wonder now if we shouldn't withdraw cash and just stuff it in the safe in the closet.

[sneakypete]

That's one reason I am distancing myself from the confiscation by reducing the amount in there each of the past 10 years and taking the tax bite now as it remains low until 2025.

@IsailedawayfromFR

Smart man. Invest it in items like tools,clothing,and other merchandise that people will need.

I don't personally believe in hoarding gold for two reasons.

1: What are you going to do with it if you can't find anyone to trade for it,and you are not a jeweler?

2:People will murder you for what they can haul away in a hand.

The smart move to make is to invest your money without being too obvious about what you are doing,and to invest in common,everyday things that are easy to sell or trade.

[mystery-ak]

Big Banks in Canada Face Outage Day After Emergency Declared

Five major Canadian banks were hit by an hours-long outage on Wednesday, convincing some that a bank run might be occurring.


By Ruholamin Haqshanas
Last updated on February 17, 2022

A number of major Canadian banks were hit by an hours-long outage on Wednesday. The outage happened one day after the Canadian Government invoked the Emergencies Act, giving officials the authority to freeze bank accounts of suspects, seize protesters’ trucks, and suspend their vehicle insurance.
Five Major Canadian Banks Halt Services for Customers

On Wednesday, five major Canadian banks suffered an hours-long outage, blocking access to online banking and e-transfer services for customers. The impacted banks include Royal Bank of Canada (RBC), BMO (Bank of Montreal), Scotiabank, TD Bank Canada, and the Canadian Imperial Bank of Commerce (CIBC).

The RBC, Canada’s largest bank in terms of market capitalization, confirmed the outage in a tweet. During the late hours of Wednesday, when asked about why the bank is down, it said:

    “We are currently experiencing technical issues with our online and mobile banking, as well as our phone systems. Our experts are investigating and working to get this fixed as quickly as possible, but we have no ETA to provide at this time.”

more
https://tokenist.com/big-banks-in-canada-face-outage-day-after-emergency-declared/

[IsailedawayfromFR]

@IsailedawayfromFR

Smart man. Invest it in items like tools,clothing,and other merchandise that people will need.

I don't personally believe in hoarding gold for two reasons.

1: What are you going to do with it if you can't find anyone to trade for it,and you are not a jeweler?

2:People will murder you for what they can haul away in a hand.

The smart move to make is to invest your money without being too obvious about what you are doing,and to invest in common,everyday things that are easy to sell or trade.

Then Ammo seems the logical investment

[sneakypete]

Then Ammo seems the logical investment

@IsailedawayfromFR

Ammo is an excellent investment. So are "buckshot" barrels for 12 and 20 gauge shotguns,as well as 28 inch full choke and modified choke. You never know what someone is going to want.

The advantage to stuff like spare shotgun barrels is they don't spoil,and you can coat them with a good thick coat of something like Vaseline,and they will last forever.

If you get any good deals offered on new or used rifle or shotgun stocks,buy them if they are for common/popular rifles and shotguns. Avoid foreign and off-brands.

Used ones are usually pretty cheap if you can find them. The price will definitely go up if TSHTF,though. Buy now,buy cheap.

Cases of 22 LR ammo are also a good investment.

Not to mention an old-time pedal-operated sewing machine for repairing clothes or even making clothes. Pretty much dirt cheap now IF you can find one,but priceless if electricity becomes rare or even occasional.

If you live near the water,fishing equipment is also a good investment.

Hand tools are ALWAYS a good investment. There has never been anything made that doesn't need occasional repairs.

Don't forget clothes and boots. Shoes are ok,but boots are better.

This list could go on for hours. LOTS of stuff you might want will be regional items,and useless in other areas.

[Smokin Joe]

@IsailedawayfromFR

Smart man. Invest it in items like tools,clothing,and other merchandise that people will need.

I don't personally believe in hoarding gold for two reasons.

1: What are you going to do with it if you can't find anyone to trade for it,and you are not a jeweler?

2:People will murder you for what they can haul away in a hand.

The smart move to make is to invest your money without being too obvious about what you are doing,and to invest in common,everyday things that are easy to sell or trade.

Well, with three (actually 4) vehicles in the same model block, I have been investing in parts I know will wear out during the life of the vehicle. Especially with gasoline engines, some of those parts will get hard to get, and some already are.

[Smokin Joe]

@IsailedawayfromFR

Ammo is an excellent investment. So are "buckshot" barrels for 12 and 20 gauge shotguns,as well as 28 inch full choke and modified choke. You never know what someone is going to want.

The advantage to stuff like spare shotgun barrels is they don't spoil,and you can coat them with a good thick coat of something like Vaseline,and they will last forever.

If you get any good deals offered on new or used rifle or shotgun stocks,buy them if they are for common/popular rifles and shotguns. Avoid foreign and off-brands.

Used ones are usually pretty cheap if you can find them. The price will definitely go up if TSHTF,though. Buy now,buy cheap.

Cases of 22 LR ammo are also a good investment.

Not to mention an old-time pedal-operated sewing machine for repairing clothes or even making clothes. Pretty much dirt cheap now IF you can find one,but priceless if electricity becomes rare or even occasional.

If you live near the water,fishing equipment is also a good investment.

Hand tools are ALWAYS a good investment. There has never been anything made that doesn't need occasional repairs.

Don't forget clothes and boots. Shoes are ok,but boots are better.

This list could go on for hours. LOTS of stuff you might want will be regional items,and useless in other areas.

I am in agreement with the entire list. Quality knives are always a good investment, too.

I figure I have plenty of jeans a size skinnier than I am that will fit again if times get tough.
Just broke out my 'new boots' today to start breaking them in, even as the stitches and glue set up on the old workboots I wear daily, and have been shopping for the next pair...

Kevlar bootlaces, too.

I will be  looking for tools and fishing tackle during the garage sale season, too.

[IsailedawayfromFR]

Yes they are as the feds are providing them names of the Freedom Convoy members so the banks can freeze their accounts.

Canada Police to Send Names of Trucker Protesters to Financial Institutions
https://www.breitbart.com/politics/2022/02/17/canada-police-to-distribute-names-of-trucker-protesters-to-financial-institutions/

The government has way overstepped as it treats these guys as terrorists, as well as those who support them.

Every citizen of Canada is now wondering whether they will be the next target of the dictatorship in Ottawa.

Article says not only Canadians, but everyone in the world will siphon off funds in Canadian banks.  Who wants their money seized arbitrarily?
Canada is now a third world country no better than Zimbabwe.
It will be many years before Canada will get their banks back as confident places to deposit of money.

Canada is destroying its banking system
The problem with becoming a dictator is that madness often quickly follows.  Caligula is an example from the past, for he was genuinely insane and died as a result of that.  Closer to our time, so obsessive was Hitler's effort to exterminate Europe's Jews, he diverted resources from the Russian front, essentially assuring Germany's military defeat.  And in Canada today, we have a ruling party that's equally obsessive, this time in its determination to destroy all political opposition.  To that end, Canada's ruling class is willing to bring down its entire banking system.

Canada's truckers, who are more vaccinated than the average Canadian, nevertheless felt that Prime Minister Justin Trudeau had gone too far when he required them to show a vaccine passport to enter their own country.  They launched a convoy that traveled across Canada's frozen wastes to get to Ottawa to present their case to the government.

In a perfect world, the government, in the form of Justin Trudeau, would have met with them, heard their grievances, promised to work with them, and sent them home.  Had he done so, it's likely that the truckers would meekly have departed, feeling that their voices had been heard.  That's how things work when a true statesman occupies the top position in government.

But Trudeau is no statesman.  He promptly hid himself away and embarked upon a campaign of baselessly defaming the truckers as Nazis.  Because they were not being heard, the truckers stayed in Ottawa, honking their horns, shutting down traffic in the city center, and engaging cheerfully and peacefully with supporters.
https://www.americanthinker.com/blog/2022/02/canada_is_destroying_its_banking_system.html

[IsailedawayfromFR]

One more article on this.   Prepare yourself.  This is coming to America.

And Now, It’s Economic Warfare
ith the world reopening, and even US blue states and cities repealing mandates, how optimistic should we be? A little bit is warranted but not that much. What we are seeing right now in Ottawa reveals the hegemonic depth of the system that gave us lockdowns, then mandates: it is now capable of freezing your accounts and essentially starving you and your family.

It’s economic warfare.

This was a wild conspiracy theory last year. Now it is very obvious that this is where many governments want to go. We’ve seen examples just in the past week.

The truckers in Canada deployed the crowd-funding platform GoFundMe and raised $9M, until suddenly the platform said that they would not distribute the money yet, pending the release of a clear plan on what the truckers were going to do with it.

Many of us immediately smelled a rat. Sure enough, a few days later, GoFundMe announced that it would not give the money to the truckers but rather to other charities of its choosing. In other words, it would steal the money. That outraged many people, among them Elon Musk, and the Internet blew up in fury. At that point, GoFundMe returned all the money back to the donors.

In the next act of this drama, the truckers went to GiveSendGo, a platform that seems more independent and that pledged to give the money to the truckers. With no promotion or even a clear link on Google on where to send money, the new method raised even more money. This was entirely thanks to uncensored networks where people were sharing information.

But the story was far from over. The platform was hit with denial-of-service attacks from malicious actors and then hacked. The thing went down hard and had to be rebuilt. The data on donors was leaked to the government and then to the Canadian Broadcast Company who contacted donors under the guise of “doing a story” on the funding. It was a clear attempt at intimidation.

The Minister of Finance got into the act and essentially declared that anyone using these to provide funding to the truckers were engaging in illicit activity — essentially terrorists. Without missing a beat, the Minister of Justice for Trudeau went further to declare that anyone who has given large figures through these platforms “should be worried” about having their bank accounts frozen.

So there we have it on record: the Canadian government has declared that it can freeze anyone’s bank account and seize the contents based on their political views or charitable actions. In the midst of all of this, Trudeau declared emergency powers that allow the government to do this to all for non-compliers, and do so without any court order.

The next step in this astonishing drama: crypto. The platform TallyCoin somehow and almost miraculously navigated all the compliance regulations and became a viable way to use crypto to crowd fund, thus bypassing banks (so long as you don’t convert your crypto to dollars).

Very quickly, the platform raised $1M for the truckers. This was all put together by a group of truckers calling itself HonkHonkHodl. That means, of course, hold crypto don’t sell.

Almost immediately, the ​​Royal Canadian Mounted Police (Canada’s FBI) sent letters to many crypto exchanges demanding that any assets flowing through their systems that are known to be intended as donations to the truckers must be reported immediately. At the same time, the truckers are being told to leave. Two leaders of the convoy have been arrested.
https://brownstone.org/articles/and-now-its-economic-warfare/

[sneakypete]

"Ve Vill NOT tolerate any dissent!