Canadian Banks, Eh?

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Canadian Banks, Eh? 4.5
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In this "Weekend Journal," Jeff Glor examines the still successful Canadian banking industry, which has prospered despite an ongoing worldwide economic crisis.

💬 Comments on the video
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how can a bank lose money when they have a license to create money out of nothing and lend it out at interest? you don't have to be a genius to make that work.

Author — henry winklefish

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good work Canada, delighted as always to be Canadian..

Author — imiss toronto

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@MrjackieG I must remember that...you gave gave me a good laugh...

Author — canada cob

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Hey, sorry I missed your call yesterday about my Internet service. I'm happy with my current provider, but thanks anyway.

Author — donadthegonad

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@MrjackieG Im confused about your statement that banks never lent out a single dime for a mortgage. Where does this mortgage money come from? I really dont know, and am curious

Author — xtubby420x

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@xutbby420x It comes from you.
The bank extended you, your own credit.
The banks monetized your credit through the Bank of Canada as a chartered member.
The bank did not extend you their credit or anyone else's.
The banks are forbidden to extend their own credit or shareholders money (Bank Act)
The bank can not produce evidence of loss in the event you default.
The banks books do not show a loss.
Foreclosure is simply an act of collecting interest.

Author — Jack Harper

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@Mrreverendjim right as if the queen has any real power in canada

Author — blackdogleg

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I'd put my mother-in-law in a bear trap if I could...

Author — BinkieMcFartnuggets

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@lyle603 HAHAHA!!!!
And exactly where is your evidence rebutting my claims?
Thats dont have any.
It gets even better.
No evidence exists on record that a bank in Canada has ever lent a single person a single dollar or any other amount of money.
What does exist is evidence the bank has extended the nominal borrower his own credit.
Thats all.

Just offer to pay the bank in the direct and immediate exchange of the original instrument of indebtedness in its original form.

Author — Jack Harper

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@lyle603 HAHAHA!!!!
And exactly where is your evidence rebutting my claims?
Thats dont have any.
It gets even better.
No evidence exists on record that a bank in Canada has ever lent a single person a single dollar or any other amount of money.
What does exist is evidence the bank has extended the nominal borrower his own credit.
Thats all.
And thats it.
Just offer to pay the bank in the direct and immediate exchange of the original instrument of indebtedness in its original form.

Author — Jack Harper

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Didn't Harper and the boys give the Canadian banks $75B just last fall?

Author — bulldog1961

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@stangeriam the laws in the states only work for the upper class.

Author — blackdogleg

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@CanadaCob You think thats funny?
Try following the money after signing the mortgage.
You can not find a transfer of bank funds from the bank to your account.

Author — Jack Harper

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Many of those mortgages where rated by the same agencies that rated MBS as triple A.

Remember where the guy who is running the Canadian Central bank is from.

Goldman Sucks.

If that does give you a clue as to what's going on take a look at how many Goldmans work in the government, and if they work for you interest or Goldman's. ;)

Author — davincij15

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@xutbby420x All so-called loans are brand new money.
All money is borrowed into existence.
The question is: Where does it come from?
You created the funds through the extension of YOUR credit.
No one else's.
Therefore, it is rightfully claimed that YOU, created the money.
And that begs to question....
Where does the bank loan come in to this???

Author — Jack Harper

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In your dreams man that will never happen if we collapse{USA} then you canada and china economy will collapse hoplessly man.

Author — Atem Yak

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@esptoronto The only problem I have here is banks do not lend money for mortgages.
No bank in Canada has lent a solitary dime to a consumer for a mortgage.
Banks are bound by statute that forbids the lending of their depositors funds or their own.
Do you know where the money comes from to buy a house?
I do.

Author — Jack Harper

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Bailouts sounded good, but it could lead to an increase in the problem later on, I'm glad Canada didn't really bite that bullet.

Author — pspboy7

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if you wouldn't put your mother in-law in this? dont put your clients in this? thats suppose to make me feel comfortable? lmao

Author — Rhine-hold Wigamyster

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we are the chief economic advisor to your country or the main trading partner to your country.Todays economies are interdependent on our petro us dollars and if the us dollars the resevrve currency collapses its not going to be regional like the zibabwe currency collapse its going to be globally and it will effect your country the most because most of our companies are in canada.for insatnce in the year 2012 microsoft was the most influental company in canada and it belongs to us usa.

Author — Atem Yak