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Old 03-08-2009, 01:03 AM   #1
THE eXchanger
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Default NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

“Every once in awhile Canadians get it right”



FYI... written by an American....
published in Newsweek Magazine, published Feb. 16, 2009

Worthwhile Canadian Initiative

The legendary editor of The New Republic, Michael Kinsley,
once held a "Boring Headline Contest"
and decided that the winner was "Worthwhile Canadian Initiative."

Twenty-two years later, the magazine was rescued from its economic troubles by a Canadian media company, which should have taught us Americans to be a bit more humble.

Now there is even more striking evidence of Canada's virtues.

Guess which country, alone in the industrialized world,
has not faced a single bank failure,
calls for bailouts or government intervention
in the financial or mortgage sectors.

Yup, it's Canada.

In 2008, the World Economic Forum
ranked Canada's banking system the healthiest in the world.
America's ranked 40th, Britain's 44th.



Canada has done more than survive this financial crisis.

The country is positively thriving in it.

Canadian banks are well capitalized and poised
to take advantage of opportunities that American and European banks cannot seize.


The Toronto Dominion Bank, for example,
was the 15th-largest bank in North America one year ago.
Now it is the fifth-largest.
It hasn't grown in size; the others have all shrunk.



So what accounts for the genius of the Canadians?

Common sense.

Over the past 15 years, as the United States and Europe loosened regulations on their financial industries,
the Canadians refused to follow suit,
seeing the old rules as useful shock absorbers.
Canadian banks are typically leveraged at 18 to 1
-compared with U.S. banks at 26 to 1 a
nd European banks at a frightening 61 to 1.
Partly this reflects Canada's more risk-averse business culture,
but it is also a product of old-fashioned rules on banking.


Canada has also been shielded from the worst aspects
of this crisis because its housing prices have not fluctuated
as wildly as those in the United States.
Home prices are down 25 percent in the United States, but only half as much in Canada.

Why?

Well, the Canadian tax code does not provide
the massive incentive for over-consumption
that the U.S. code does:
interest on your mortgage isn't deductible up north.
In addition, home loans in the United States are "non-recourse,"
which basically means that if you go belly up on a bad mortgage,
it's mostly the bank's problem.
In Canada, it's yours.
Ah, but you've heard American politicians wax eloquent
on the need for these expensive programs
- interest deductibility alone costs the federal government
$100 billion a year
-because they allow the average Joe to fulfill the American Dream of owning a home.
Sixty-eight percent of Americans own their own homes.
And the rate of Canadian homeownership? It's 68.4 percent.

Canada has been remarkably responsible
over the past decade or so.

It has had 12 years of budget surpluses,
and can now spend money to fuel a recovery from a strong position.
The government has restructured the national pension system,
placing it on a firm fiscal footing,
unlike our own insolvent Social Security.
Its health-care system is cheaper than America's by far
(accounting for 9.7 percent of GDP, versus 15.2 percent here),
and yet does better on all major indexes.

Life expectancy in Canada is 81 years,
versus 78 in the United States;
"healthy life expectancy" is 72 years, versus 69.

American car companies have moved
so many jobs to Canada to take advantage
of lower health-care costs that since 2004,
Ontario and not Michigan has been North America's largest car-producing region.



I could go on.

The U.S. currently has a brain-dead immigration system.

We issue a small number of work visas and green cards,
turning away from our shores thousands of talented students
who want to stay and work here.

Canada, by contrast,
has no limit on the number of skilled migrants
who can move to the country.

They can apply on their own for a Canadian Skilled Worker Visa,
which allows them to become perfectly legal "permanent residents"
in Canada-no need for a sponsoring employer, or even a job.
Visas are awarded based on education level,
work experience, age and language abilities.

If a prospective immigrant earns 67 points out of 100 total
(holding a Ph.D. is worth 25 points, for instance),
he or she can become a full-time, legal resident of Canada.


Companies are noticing.

In 2007 Microsoft, frustrated by its inability
to hire foreign graduate students in the United States,
decided to open a research center in Vancouver.

The company's announcement noted that it would staff the center with "highly skilled people affected by immigration issues
in the U.S."

So the brightest Chinese and Indian software engineers
are attracted to the United States,
trained by American universities,
then thrown out of the country and picked up by Canada
-where most of them will work, innovate and pay taxes
for the rest of their lives.



If President Obama is looking for smart government,
there is much he, and all of us, could learn from our quiet
- OK, sometimes boring-neighbor to the north.
Meanwhile, in the councils of the financial world,
Canada is pushing for new rules for financial institutions
that would reflect its approach.

This strikes me as, well, a worthwhile Canadian initiative.
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Old 03-08-2009, 01:17 AM   #2
chitty
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

Lets hope the " True North " stays strong and free.
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Old 03-08-2009, 02:17 AM   #3
oldpaganfreak
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

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Originally Posted by chitty View Post
Lets hope the " True North " stays strong and free.
amen to that
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Old 03-08-2009, 03:51 AM   #4
peaceandlove
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

It may not be long considering this article. Although they do mention Canada may recover quicker.

Lending rate near zero

EVIN CARMICHAEL
Globe and Mail Update
March 3, 2009 at 11:20 AM EST

OTTAWA - The Bank of Canada cut its benchmark lending rate to within spitting distance of zero, and signalled that it is prepared to increase the money supply to spark a rebound that policy makers acknowledged could be farther off than they first thought.

As most economists expected, the central bank cut its overnight lending rate by half a percentage point to 0.5 per cent, the lowest ever, prompting the country's biggest lenders to quickly match, dropping their prime rates to 2.5 per cent.

The surprise in Tuesday's statement was the declaration that Governor Mark Carney and his advisers on the governing council are preparing the ground for a program of “credit and quantitative easing.”

Such an effort would pump money into Canada's financial system by giving banks and others a new buyer for assets such as government bonds and corporate debt. The Bank of Canada's current credit-market programs are different because they only offer short-term loans, taking banks' paper assets as collateral.

Article continues: http://business.theglobeandmail.com/.../Business/home
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Old 03-08-2009, 02:16 PM   #5
NorthernSanctuary
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

Economically, we're tied too closely to the U. S., but the dollar/ economy went up when the oil price was flying. This is suppose to go back up within a year. That's probably when the US and Canadian economy will part.
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Old 12-27-2009, 02:38 AM   #6
THE eXchanger
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

Quote:
Originally Posted by NorthernSantuary View Post
Economically, we're tied too closely to the U. S., but the dollar/ economy went up when the oil price was flying. This is suppose to go back up within a year. That's probably when the US and Canadian economy will part.
yeah, maybe, a lot of americans, will move north !!!
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Old 12-27-2009, 02:49 AM   #7
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

I've been following this too. Sometimes, I wonder if in the future it might be cheaper for Canadian companies to start outsourcing their phone customer service/support/back end jobs to Americans once our collapse starts kicking into high gear.

--sjkted
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Old 12-27-2009, 02:51 AM   #8
sjkted
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

Another possibility is that Canada will become the lender of last resort, the final bailout, once the Amero is introduced.
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Old 03-17-2010, 11:46 PM   #9
THE eXchanger
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

they will NEVER release the AMERU
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Old 03-18-2010, 12:43 AM   #10
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

When the writer finishes off saying how canada is the sometimes boring neighbour it just makes him/her sound like an ass. How is any country 'boring'?!
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Old 03-18-2010, 12:43 AM   #11
sjkted
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

Well, when the main currencies start falling, I guarantee you, they'll try to introduce something...

--sjkted
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Old 03-18-2010, 03:35 AM   #12
Greetings
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

this article screams separation.

Sorry, but beside society's depiction of a "border" between someones land and the other guy's land, we live on the same landmass. We're all humans for the most part.

I've lived basically ON this border for most of my life - and truth be told, there is NO border there. Canada, America - its the same to me.
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Old 03-18-2010, 03:37 AM   #13
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

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Originally Posted by THE eXchanger View Post
they will NEVER release the AMERU
you sound SO sure. how can you be?
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Old 03-18-2010, 03:45 AM   #14
Angel in Disguise
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

We're not free... We're just sneakier about making people think they are
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Old 03-18-2010, 04:26 AM   #15
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

I bet the Queen is proud...

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On the heels of the Statute of Westminster came the birth of the Bank of Canada in 1934. The face of the British Crown stepped off the political stage to allow the appearance of autonomy, but it remained in full force in the background, still controlling Canada through the field of finance...

Her Majesty owns the Bank of Canada. The personal and corporate income taxes paid by Canadians are the profits for the Bank of Canada. These profits go to Her Majesty and the Bank of England, absorbing more than 10% of the GNP of Canada every year. Her Majesty and associates allow for independent internal and foreign policies for Canada, as long as the profit stream is not interrupted. Should that tax stream ever be jeopardized, Canada would experience a tremendous overt intervention from her owners overseas.

The ruling political party in Ottawa is not the Government of Canada. They represent the Government of Canada in Parliament, and are the middle managers separating the owners from the Canadian people. The British Crown, Rothschilds and other European families own the Corporation of the Government of Canada. The British Crown owns the Bank of Canada.

Canada is not a sovereign nation but a private club, unknown to most Canadians. This is why the Queen's face still appears on Canadian currency. This is the reason for Quebec’s 50 year desire to separate from the country. This is the reason for Lord Rothschild’s presence in Canada.

Story link
Quote:
Technically today, Queen Elizabeth II is Canada's head of state -- and technically Canada is still part of the British Empire/Commonwealth of Nations. Yet if QE II suddenly dies tomorrow, Canada can technically decide that Prince William, her grandson, will be Canada's next King instead of his father, Prince Charles, next in line for the British throne. It also can at any time, leave the British Commonwealth of Nations. And to those of you who don't think all of this is possible, may I point you to the recent political debate afoot in Australia over whether to turn it from a constitutional monarchy to a republic.

Read more at Suite101: The Statute of Westminster (1931): Canada's "Declaration of Independence" http://www.suite101.com/article.cfm/...#ixzz0iUy75rwi
Canadian Independence
So the question is, if Canada is coming to the point of complete Independence.... are they ready?

Or should I say, will it be allowed?
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Old 03-18-2010, 04:35 AM   #16
Ross H
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

Thanks Susan,

Australia is also the same, no bank failures or mortgage bailouts.

Last year the OZ govt pumped $40 billion of cash surplus in the form of cash handouts to the citizens in two, 'one off payments' this was intended to keep the retail sector boyant which has to date been successful.

OZ also has a excellent resource sector, mining, huge uranium, iron ore, gold and other minerals and has been able to keep secure trade with China and India through the tough times. The housing sector has risen by 3.5% across the board and with grants for first home owners buliding from new have received $14,000, and existing homes of $7000.00.

Also the unemployment figures are below 5% and interest rates have already moved back to 6.5% which has stimulated foreign investment and is a healthy medium for inflation.

Oz govt also was the first to implement bank deposit guarantees which stopped cash withdrawls and cash leaving the country.

Canada and Australia are good examples for most of the world to use as a model for fiscal stability...tho we all know its a manipulated system....and a crock really, but I am very happy to live here...

Peace.
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Old 03-18-2010, 04:58 AM   #17
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

many of you know sometimes I am cryptic and messages are spread out across multiple thread but let me give you a little more info related to the Anglo Saxon plans...

First I want you to go to the Bank of Canada's balance sheet and you will notice a 20% payout...

Now I want you to look up the owners of the largest grocery store chain in Canada...

The Ayatollas of Iran were put into power by the queen 35 years ago, and the owners of the largest food chain are Iranian Ayatollas?

Now there is a pretty twisted web slowly unraveling right now.

The Iranian people are rising up and revolting against the leadership.

Canada, one of the most peaceful country's on the planet... Is funding both sides of this struggle without even knowing what they are doing?

18 months... and counting...
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Old 03-18-2010, 07:27 AM   #18
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

The reason we Canucks are doing so well is that the elite aren't trying to collapse Canada. We're only 30 million people We could all be rich and no one cares.

The elite are collapsing the US. They don't give a rats behind what we do.

All the better for us, I follow the American drama like a soap opera and worry like everyone else. Truth is though I have one of the highest standards of living in the world here in Calgary, Alberta and even if the US collapses we'll still pull through, although we will be affected, our economies are closely tied to eachother.
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Old 03-18-2010, 07:30 AM   #19
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

Canadian dollar is almost at Par today...been a few years,,
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Old 03-18-2010, 09:05 AM   #20
Ross H
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The reason we Canucks are doing so well is that the elite aren't trying to collapse Canada. We're only 30 million people We could all be rich and no one cares.

The elite are collapsing the US. They don't give a rats behind what we do.

All the better for us, I follow the American drama like a soap opera and worry like everyone else. Truth is though I have one of the highest standards of living in the world here in Calgary, Alberta and even if the US collapses we'll still pull through, although we will be affected, our economies are closely tied to eachother.

Bang on with that.

OZ has 22 million.

Peace
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Old 03-18-2010, 09:17 AM   #21
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

Hi Greetings,

I tend to agree with eXchanger on this one. The Amero will, if introduced, unite the Canadian Dolar, US Dolar and Mexican Peso.

Firstly, just look at the US Dolar, being printed 24/7, ready to nose dive. Also all the banks (including the FED) are technically under and the very people who caused this unruly mess are still in charge.

If you were a nation, would you give your wealth to another who is steeped in obvious corruption, manipulation, and debt? I think not. And if you did, what would the stigma on your currency do to you on the global market?

Best regards,

Steve


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you sound SO sure. how can you be?
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Old 03-18-2010, 09:26 AM   #22
Rocky_Shorz
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

so when the Queen passes, do you want the King on your new Currency, or do you think Canada and Australia will want to become free nations?

Who would you want to see on the different denominations?

and no Lord Rothschild shouldn't be an option... ;-)
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Old 03-18-2010, 09:37 AM   #23
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Default Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

Well there is also that fact that total circulation of Canadian dollars was a tiny percentage compared to US dollars.

Just because the US Fed Reserve and Bank of Canada are controlled by the same people it would make that part of the equation quite simple.

Canada has 1/10th the people and 1/1000000 the debt, a simple little juggle and the books would be balanced...

of course since Rothschild is valued up over 40 Trillion right now being an owner of Bank of England he can just cross off a few zeros and clear up the US debt, take over Mexico and still have 20 Trillion left for playing war games...

Maybe that's the solution Fulford's boys came up with...
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