Canadian bank going under?

[trent]

With several major US banks practically insolvent, how likely do you think it is to see a Canadian bank becoming insolvent?

[sunshine]

Not very likely just because in Canada we don't have as many banks as US. But still if a bank goes under do you know what amount of the deposits is insured by the government?

[trent]

Originally Posted by sunshine

Not very likely just because in Canada we don't have as many banks as US. But still if a bank goes under do you know what amount of the deposits is insured by the government?

We can still see a bank failure in Canada when real estate collapse gathers some more speed. I think that the deposits with Canadian banks are insured for up to 100K per person per bank, but you better check if that's the case.

[Canadian]

If this happens the government will step in and bail them out with our tax money. The bankers win no matter what.

[trent]

Originally Posted by Canadian

If this happens the government will step in and bail them out with our tax money. The bankers win no matter what.

Yes, most likely they'll bail them out if things get out of hand, however the trust in the fiat financial system will be all gone at this point.

[bullish]

Canadian bank going into bankruptcy - this will never happen.

[Canadian]

Originally Posted by bullish

Canadian bank going into bankruptcy - this will never happen.

You are right that it will never happen, but for the wrong reasons. You think that there is no chance of Canadian bank going bankrupt because you falsely assume that our banks are safe, which is not the case. The reason this will never happen, is because they will be bailed out in a heartbeat.