Coordinated central bank action to enhance the provision of US dollar liquidity

Re:Coordinated central bank action to enhance the provision ... by lowkey on Sunday March 19, 2023 @08:46PM (#35225661)

The Canadian Banking system is an oligarchy akin to a model where the US only had only too big to fail banks. In Canada all the big 6 banks are too big to fail and they hold disproportionate power over the government.

As an example, during the great financial crisis the Canadian taxpayer bailed out the Canadian banks to the tune of hundreds of billions of dollars, only this was done in secret.[0] The Canadian government blatantly lied to their citizens and pretended there was no bailout. To this day most Canadians are unaware the Canadian banks were bailed out at all

[0] https://macleans.ca/economy/business/the-real-canadian-bank-...

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Re:Coordinated central bank action to enhance the provision ... by TMWNN on Sunday March 19, 2023 @09:53PM (#35226290)

> In Canada all the big 6 banks are too big to fail and they hold disproportionate power over the government.

A recent description of Canada that I thought is apt is "three mining companies standing on top of each other wearing a trenchcoat".

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Re:Coordinated central bank action to enhance the provision ... by transcriptase on Sunday March 19, 2023 @09:59PM (#35226326)

It’s the same for every industry here.

Swap mining with telecom, grocery, or alcohol and the description still stands.

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