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Canada's financial system collapsing
Posted: April 26th, 2021, 3:29 pm
by Reluctant Watchman
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Re: Canada's financial system collapsing
Posted: April 26th, 2021, 4:49 pm
by samizdat
Reluctant Watchman wrote: ↑April 26th, 2021, 3:29 pm
Interesting financial news out of Canada:
https://stateofthenation.co/?p=61452&fb ... 7_qDa-6WI4
———
Canada’s largest bank collapsed Friday after hours, dropping 64%
Canada’s largest bank, the Royal Bank of Canada or RBC, with $1 trillion in AUM and the largest stock in the TSX, crashed 64% after hours on Friday with no explanation.
Today, customers en masse were locked out of their RBC accounts and RBC is closed.
Trudeau and Freeland release the budget tomorrow. Rumours are that RBC is insolvent, has begun seizing customer’s bank deposits to stay solvent and that Trudeau and Freeland will bail out RBC (and other banks) with their budget.
Canada is Collapsing.
Literally false by any metric.
It is Monday 26 April.
https://finance.yahoo.com/quote/RY.TO/? ... s2LtJwPOSc
As you can see reports of its demise are greatly exagerrated.
Re: Canada's financial system collapsing
Posted: April 26th, 2021, 4:58 pm
by Reluctant Watchman
samizdat wrote: ↑April 26th, 2021, 4:49 pm
Reluctant Watchman wrote: ↑April 26th, 2021, 3:29 pm
Interesting financial news out of Canada:
https://stateofthenation.co/?p=61452&fb ... 7_qDa-6WI4
———
Canada’s largest bank collapsed Friday after hours, dropping 64%
Canada’s largest bank, the Royal Bank of Canada or RBC, with $1 trillion in AUM and the largest stock in the TSX, crashed 64% after hours on Friday with no explanation.
Today, customers en masse were locked out of their RBC accounts and RBC is closed.
Trudeau and Freeland release the budget tomorrow. Rumours are that RBC is insolvent, has begun seizing customer’s bank deposits to stay solvent and that Trudeau and Freeland will bail out RBC (and other banks) with their budget.
Canada is Collapsing.
Literally false by any metric.
It is Monday 26 April.
https://finance.yahoo.com/quote/RY.TO/? ... s2LtJwPOSc
As you can see reports of its demise are greatly exagerrated.
Ah, thanks for the update. I missed the original posting date for the article, which by any credible standards, is also not super reliable.