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It makes sense. If they are going to freeze your account anyway, without a warrant, of course you would take all the money you can out. That not only includes truckers, but everyone who donated. But the question is what happens if everyone who supports the truckers does it at the same time. Or even more broadly those who want to protest arbitrary freezing of assets of with no judicial oversight. Or those who are opposed to mandates. Or those who just want to fuck with Trudeau. Or people who want to protest a financial system that allows for this.

So that makes the next attack obvious. Run on the bank. Tell everyone that is the new thing. It's more likely to happen if people hear it more than once from more than one source. You heard it from me. Now it's time to pass it on.

If anything I'm late to the party in reminding you. They've already started to do it. Just a reminder that if you are Canadian, you probably want to pull your money out.

It makes sense. If they are going to freeze your account anyway, without a warrant, of course you would take all the money you can out. That not only includes truckers, but everyone who donated. But the question is what happens if everyone who supports the truckers does it at the same time. Or even more broadly those who want to protest arbitrary freezing of assets of with no judicial oversight. Or those who are opposed to mandates. Or those who just want to fuck with Trudeau. Or people who want to protest a financial system that allows for this. So that makes the next attack obvious. Run on the bank. Tell everyone that is the new thing. It's more likely to happen if people hear it more than once from more than one source. You heard it from me. Now it's time to pass it on. If anything I'm late to the party in reminding you. They've already started to do it. Just a reminder that if you are Canadian, you probably want to pull your money out.

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[–] • 1 pt

Forgive my subject ignorance, but is the CAD also just backed by "Faith in government" as seen here in the US? I know the petrodollar is more or less what really keeps the USD going so I'm curious what keeps Canada's supply "stable."

[–] • 0 pt

So the US dollar isn't really backed by oil because the ratio of oil you get for the dollar isn't fixed. Back when the dollar was backed by gold you could use it to get a specific amount of gold. Now you can still use it to get gold, on the market, but the ratio fluctuates.

The US dollar is backed by taxation. If you want to have an income, which we all do, you now have to pay taxes. That requires to to obtain or already have some USD to be able to give it in order to not go to jail. Because nearly everyone is in the same situation everyone values USD and therefore you can reliably give it as a form of payment, and the recipient is even more willing to accept it knowing it is a broadly accepted form of payment. This is why people in the US exchange USD and people in Canada exchange CAD. If both have value and both can be used as money why wouldn't one just win out as a currency? Because US citizens are taxed in a different currency than Canadians.

So CAD is backed by the threat of going to jail.