Thank you for sharing your knowledge, skills and research, Lex. Holding records of these govt. crimes in public trust is essential, especially since they are poised to repeat and likely supersede the false narratives and mandates Canadians were violated under in the past 4 years. This is what put me to the curb at the end of 2021.
I question if the Sunset Clause of the Canada Bank Act falls into your sphere of knowledge. Many eye it with suspicion, namely:
21 (1) Subject to subsections (2) and (4), banks shall not carry on business, and authorized foreign banks shall not carry on business in Canada, after June 30, 2025.
(4) If Parliament dissolves on the day set out in subsection (1) or on any day within the six-month period before that day or on any day within an extension ordered under subsection (2), banks may continue to carry on business, and authorized foreign banks may continue to carry on business in Canada, until the end of the 180th day after the first day of the first session of the next Parliament.
In light of the globalization of the Canadian banking sector since 2001, what could possibly go wrong (sarc) ? Please consider this a suggestion for your Stack list, I believe it is a quandary for most of those who are even aware it exists.
I’m aware of that sunset clause. There are way too many unknown moving parts connected to this topic and quite frankly that topic is outside my domain of expertise. However, the text suggests that banking could cease. I don’t think that will be the case. If banking could be predicted to cease or could be at risk of ceasing then investors would be dumping banking stocks, you would see an effect on the stock market because the stock market is a forward-looking pricing mechanism of future value. I’m not seeing bank stocks cratering. Because of that, I’m unwilling to conclude that the sunset clause of the bank act implies that banking could, may or will cease in 2025.
I would not give too much attention to that. We have more pressing issues to give attention to. Restoring the rule of law and putting in place strong anti-corruption measures at all levels of government is my top societal priority.
Much appreciate your common sense response, Lex! Yes, it is a fickle prediction. 21(4) could be interpreted to read that as long as parliament dissolves and not restores, banks may operate indefinitely on status quo (some WEF spin predicted elections to fall by the wayside). I agree that we would see the stock market flinch if this started to play out, and Canada then would be in a full tail spin. The weakness of Canadians is their neediness for someone other than themselves caring for (or just promising) their safety. Such easy fear-motivated prey for ‘governments’ hijacked by an internationally controlled PPP syndicate. Freedom comes with responsibilities. Thanks for being in the fight, Lex, great priorities!
Thank you for sharing your knowledge, skills and research, Lex. Holding records of these govt. crimes in public trust is essential, especially since they are poised to repeat and likely supersede the false narratives and mandates Canadians were violated under in the past 4 years. This is what put me to the curb at the end of 2021.
I question if the Sunset Clause of the Canada Bank Act falls into your sphere of knowledge. Many eye it with suspicion, namely:
21 (1) Subject to subsections (2) and (4), banks shall not carry on business, and authorized foreign banks shall not carry on business in Canada, after June 30, 2025.
(4) If Parliament dissolves on the day set out in subsection (1) or on any day within the six-month period before that day or on any day within an extension ordered under subsection (2), banks may continue to carry on business, and authorized foreign banks may continue to carry on business in Canada, until the end of the 180th day after the first day of the first session of the next Parliament.
In light of the globalization of the Canadian banking sector since 2001, what could possibly go wrong (sarc) ? Please consider this a suggestion for your Stack list, I believe it is a quandary for most of those who are even aware it exists.
I’m aware of that sunset clause. There are way too many unknown moving parts connected to this topic and quite frankly that topic is outside my domain of expertise. However, the text suggests that banking could cease. I don’t think that will be the case. If banking could be predicted to cease or could be at risk of ceasing then investors would be dumping banking stocks, you would see an effect on the stock market because the stock market is a forward-looking pricing mechanism of future value. I’m not seeing bank stocks cratering. Because of that, I’m unwilling to conclude that the sunset clause of the bank act implies that banking could, may or will cease in 2025.
I would not give too much attention to that. We have more pressing issues to give attention to. Restoring the rule of law and putting in place strong anti-corruption measures at all levels of government is my top societal priority.
Much appreciate your common sense response, Lex! Yes, it is a fickle prediction. 21(4) could be interpreted to read that as long as parliament dissolves and not restores, banks may operate indefinitely on status quo (some WEF spin predicted elections to fall by the wayside). I agree that we would see the stock market flinch if this started to play out, and Canada then would be in a full tail spin. The weakness of Canadians is their neediness for someone other than themselves caring for (or just promising) their safety. Such easy fear-motivated prey for ‘governments’ hijacked by an internationally controlled PPP syndicate. Freedom comes with responsibilities. Thanks for being in the fight, Lex, great priorities!