“What you are about to see absolutely amazed me when I first saw it (archived link). The Canadian government is actually proposing that what just happened in Cyprus should be used as a blueprint for future bank failures up in Canada. The following comes from pages 144 and 145 of ‘Economic Action Plan 2013′ which you can find right here. Apparently the goal is to find a way to rescue ‘systemically important banks’ without the use of taxpayer funds. In other words, the banks will just be allowed to grab money directly out of your bank accounts to recapitalize themselves. That may sound completely and utterly insane, but this is how things will now be done all over the western world.”
