/biz/ - Business & Finance

We're fucked.

https://canadafreepress.com/article/trudeaus-bail-in-now-law-to-allow-banks-to-confiscate-your-deposits

Currently, TD bank is the second most shorted stock on the TSX. TD relies heavily on mortgage loans for its bottom line, more so than other Canadian banks.

https://www.ft.com/content/40a2eae4-4b2b-11e9-8b7f-d49067e0f50d

For the first time since 2009, Canadian housing prices dropped in all but 3 areas: Ottawa, Vancouver and Montreal. Given the rapid development going on in Ontario and artificially inflated demand, I fear that a major housing correction is soon to come that will hit Canadian banks especially hard given their exposure to real estate market.

Under the bail-in law, in times of financial turmoil, a bank can withhold its customers assets in exchange for stock in the institution - stock that would be depreciating rapidly. This is absolutely despicable and does not bode well for the future of the Canadian economy.

As someone who has quite a bit of wealth in a Canadian account - what should I do? Move it overseas? Are any other Canadians worried? Thoughts?

Who here /TD/ master race?

Fuck these fucking faggots. They blocked me from buying 10k of crypto. I plan on closing my accounts with these fucking pieces of shit. Which banks aren't total fucking faggots? Was looking at Ally