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Is The Next Domino To Fall.... Canada?
08-18-2011, 11:16 PM #1
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
there is one place where that has not happened so far; there is one place that has been very much insulated from the whipping of the market, and one place where banks are potentially in just as bad a shape as anywhere else in Europe. That place is.... Canada.

As the chart below shows, which is a ranking of global banks by tangible common equity, lowest first, of the banks with a TCE ratio of under ~4% a whopping 30% are those situated in Canada, the same place where nobody thinks anything can go wrong, and which has been completely spared from the retribution of the bond vigilantes. Something tells us Canadian sovereign CDS, not to mention Canadian bank CDS, are both about to go quite a bit wider...

http://www.zerohedge.com/news/next-domin...nt-1574392

We have the same mortgage mess the US had in '08, banks lending money to anybody who could fog a mirror. When that bubbles collapses I can see it getting bad.
08-18-2011, 11:22 PM #2
Octo Mother Superior
Posts:42,603 Threads:1,469 Joined:Feb 2011
Yeah I don't see anybody being able to stay out of this mess. First I read 'blond vigilantes' chuckle.gif

Any chance of selling your house?
08-19-2011, 12:11 AM #3
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,279 Threads:1,438 Joined:Feb 2011
Seems like it would be a good time to get out as quick as possible, maybe even take a hit on what it's worth in the current market. Even 10% at this point won't hurt, after the yarn unravels the loss will be substantially over 10%.

wonder.gif
08-19-2011, 02:19 AM #4
Kreeper Griobhtha
Posts:10,591 Threads:633 Joined:Feb 2011
The question is, does your government still believe the banks are too big to fail, or did they learn a lesson?



I am not your rolling wheels, I am the highway
I am not your carpet ride I am the sky
I am not your blowing wind, I am the lightning
I am not your autumn moon, I am the night
The night
08-19-2011, 05:06 AM #5
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Canadian banks were never de-regulated like the US ones were, allowing the fraud that's marked the last 6 years, maybe 12 years since Gramm's act was signed by Clinton in '99. But they, like European banks, bought heavily into the toxic waste of CDOs and SIVs and are as vulnerable to that as Europe is. There were rumors going around the fed was bailing out Canadian banks but what was actually going on was the fed buying back those toxic securities as they did all over Europe, that was where much of that $16 trillion went. Harper the knob gobbler will do as he's told by the banksters, if that means bankrupting Canada and auctioning her resources, well too effin bad. Guess what? It was planned that way.
08-19-2011, 05:28 AM #6
Tacolover II Member
Posts:427 Threads:59 Joined:Feb 2011
(08-19-2011, 05:06 AM)Shadow Wrote:  Canadian banks were never de-regulated like the US ones were, allowing the fraud that's marked the last 6 years, maybe 12 years since Gramm's act was signed by Clinton in '99. But they, like European banks, bought heavily into the toxic waste of CDOs and SIVs and are as vulnerable to that as Europe is. There were rumors going around the fed was bailing out Canadian banks but what was actually going on was the fed buying back those toxic securities as they did all over Europe, that was where much of that $16 trillion went. Harper the knob gobbler will do as he's told by the banksters, if that means bankrupting Canada and auctioning her resources, well too effin bad. Guess what? It was planned that way.

Shadow just sell your property and finance yourself with EZ terms. take a large down payment and when they are late---repossess. Take the money from that and buy a distressed home owner that is close to being foreclosed on and do it again, then again, then again. When housing market comes up dump em for a profit and move out of the neighborhood.
08-19-2011, 09:13 PM #7
Ghostie Member
Posts:1,074 Threads:212 Joined:Mar 2011
The liberals were in power then it would of happened months ago he'll we would of been the first to fallchuckle.gif
08-19-2011, 11:23 PM #8
Octo Mother Superior
Posts:42,603 Threads:1,469 Joined:Feb 2011
The Banksters did it vic.gif


İmage
08-20-2011, 12:39 PM #9
bohica Member
Posts:1,590 Threads:194 Joined:Feb 2011
Seems to me that the Libertarians are the only credible political party.

There's plenty of room for all God's creatures. Right next to the mashed potatoes!
08-20-2011, 12:52 PM #10
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,279 Threads:1,438 Joined:Feb 2011
Right on Bohica. Considered myself libertarian leaning for the last few years, I identify with the conservative foreign policy and limited government. With the exception of Ron Paul the rest of the candidates are the same old shït in different toilets and it's time to flush.

wonder.gif
08-22-2011, 05:43 AM #11
Ghostie Member
Posts:1,074 Threads:212 Joined:Mar 2011
(08-20-2011, 12:39 PM)bohica Wrote:  Seems to me that the Libertarians are the only credible political party.
rofl.gifrofl.gifrofl.gif

rofl.gifrofl.gifrofl.gifrofl.gif they're all the same



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