Draconian New Bank Account Seizure Law In Canada

 

The #1 Lesson From Bank Account Seizures in Canada... Do This Before It's Too Late

by Nick Giambruno

"We are broadening the scope of Canada’s anti-money laundering and terrorist financing rules…

As of today, a bank or other financial service provider will be able immediately to freeze or suspend an account without a court order."

These are the words of Canada’s minister of finance, Chrystia Freeland.

Freeland's announcement shocked millions of Canadians and many more across the world.

A major Western country had just thrown out any semblance of the rule of law and property rights on a mass scale—something unprecedented in recent memory.

Many Canadian companies and everyday citizens were paralyzed, suddenly unable to access the money they thought was theirs.

There was not even a pretense of due process. It wasn't needed since the government simply granted itself emergency powers. The fundamental civil liberties that most Canadians thought they had proved to be illusory.

Imagine if the crackdown against dissidents in Canada instead happened in Venezuela, Cuba, or elsewhere. Is there any doubt there wouldn’t be a fevered pitch call for sanctions or worse?

Instead, to the extent the mainstream media even mentioned it, coverage was generally sympathetic to the Canadian government. The media rationalized their actions as necessary measures against insurrectionists and potential terrorists.

The Canadian banks sheepishly complied. There was no attempt to protect their clients and push back against this blatant government overreach.

If you understand how money, banking, and politics really work, none of this should be surprising.

Like almost all governments, the Canadian government heavily regulates and influences the nominally private banking system. If a Canadian bank were to disobey, the government would immediately give it the kiss of death by revoking its license, removing access to the central bank's clearing system, and perhaps arresting executives.

The banks will do whatever the government tells them when the chips are down. They have no choice.

Banks are not independent entities, as events in Canada make clear. They are ultimately extensions of the government and the will of politicians in charge at the time.

Here’s the bottom line and the number one lesson from the fiasco in Canada…

Canada has set the dangerous precedent that politicians can use banks and money as blunt weapons against their domestic opponents and get away with it.

I have no doubt we’ll see more of this soon in other countries.

It would be foolish to assume that politicians wouldn't use this new power at their disposal. The only question is, what pretext are they going to use to sell it to the masses?

Today, banks are a tool to stifle dissent and force compliance to vaccine mandates.

Tomorrow, you may find that the government has frozen your bank account because you exceeded your monthly carbon allowance by driving your car too much or buying too much meat. After all, the media and many politicians have already declared a "climate emergency."

The politicization of money is an urgent danger you cannot afford to ignore. But, thankfully, there is something you can do about it.

What You Can Do

It's essential to clarify you don't actually own the money in your bank account.

Once you deposit money at the bank, it's no longer your property. Instead, it belongs to the bank, and they can do whatever they want with it.

What you own is a promise from the bank to repay you. The currency in your bank account is really just an unsecured liability. Technically, you're a creditor of the bank.

That’s a very different thing from cash in hand. Yet the vast majority of people wrongly conflate the two. Perhaps events in Canada will change that perception.

Prominent Canadian psychologist and best-selling author Jordan Peterson recently said:

"I don't know what to make of all of this because it's happening so quickly. I can't believe the state to which the country has degenerated.

I've been in contact with a reliable source within the Canadian military, and he told me today by email that if I had any sense, I'd take my money out of the Canadian banks because the situation is far worse than I've been informed. And that's just one of such messages I've received on a daily basis."

The more money you have in the bank, the more leverage politicians hold over you to shape your behavior. All it takes is the stroke of a politician’s pen to target the bank accounts of large groups of people they don’t like.

It behooves free and independent people to ensure that someone else isn't in charge of their destiny. A big part of that is securing your money. No politician or constitution will do that for you. It's something you have to take responsibility for.