TD Bank Robbers Show Peril of Cashless Society
February 14, 2022
https://www.bbc.com/news/world-us-canada-60383385
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A spokesperson for TD Bank told news outlets on Feb. 12 that the financial institution appealed to the Ontario Superior Court of Justice to obtain the funds with the intention of returning the cash to donors "who have requested refunds but whose entitlement to a refund cannot be determined by TD."
One of the bank accounts received a lump sum of $1 million in Canadian currency via GoFundMe, while the rest--about $300,000 Canadian dollars--was sent to a second account through several bank electronic transfers, a TD spokesperson told Reuters. The TD Bank spokesperson said the bank doesn't know where the GoFundMe payment originated.
Jay Cameron, a spokesperson for the Justice Centre for Constitutional Freedom, a group representing the protesters, told The Epoch Times on Monday that "many politicians, and media outlets, including the New York Times, Wall Street Journal, and National Post, have remarked on the peaceful nature of the protest against the authoritarian vaccination mandates."
"There are significant questions surrounding the legal basis under which TD Bank seized donation funds and applied to transfer them into court," Cameron said.
And Keith Wilson, an attorney for the convoy, said TD Bank was put "on notice that their actions are improper and disappointing" after the two accounts were frozen, Reuters reported.
"We are also going to be taking the Ontario government to court to seek an immediate lifting of what we consider to be an unlawful order," he told the newswire service.
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Convoy lawyer Keith Wilson said the group planned to fight to retrieve any money it had raised.
"We will be taking expedited legal steps to have the restrictions on the donated funds lifted as soon as possible," Wilson said in an email to CTV News.
On a video posted on Facebook by "Freedom Convoy" supporters, organizers turned to cryptocurrency to fund the protest.
The decentralized nature of cryptocurrency like Bitcoin makes it difficult to regulate, however efforts to convert it into legal tender may be stifled by local authorities as it becomes subject to Canadian rules.
Based on prior political discussion, the asset confiscations will begin with the most liquid, marketable, or easily attachable assets (e.g. checking and savings deposits as well as pooled pension funds), and work its way down to IRAs and 401ks accounts. After that, the governments could heavily tax the assessed value of brokerage accounts. All these types of monies are the easiest to quantify and thus will be used first. With regards to brokerage accounts or holdings of individual equities, the government could impose an annual ad valorem tax on the owner.
The next types of assets in the cross-hairs will be the less liquid ones, such as real estate and businesses. Governments may also wish to nationalise the banking sector to retain its rich cash flow and asset base. The governments may choose to effectively nationalize many manufacturing industries and retain their profits and cash flows to help fund deficits.
The governments will find confiscating illiquid assets like real estate more challenging and less practical. However, I predict the governments could levy all sorts of special national ad valorem taxes on many of these types of assets in lieu of outright confiscation. Ad valorem taxes are typically levied on real or personal property by local governments, but the Feds could get involved. Ad valorem means a tax on goods or property expressed as a percentage of the sales price or assessed value.
In other words, you can keep your house, but the taxes could become exorbitant.
We need to wrap our minds around the grim new reality of what the world was like back in 2008. Boring is profitable. I still like gold bullion and gemstones; for others, they will swear by bitcoin. I leave that up to you to determine.
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Again: I'm warning against crypto. Once a deflationary shock hits, crypto will get caught in the liquidity squeeze. Deflation is also bad for Gold, but the issue is that Gold suppression is coming to an end, and Gold will gain great monetary significance again.
I also saw that line by your 'satanist insider', where he said Gold was no good, and that you need silver. That did resonate with me. Perhaps they're planning another Roosevelt like gold confiscation? Quite a few people have aired concern about that, and it could indeed happen, when the SHTF.
On the one hand, Gold is the real deal, the main monetary base, but on the other, Silver will definitely appreciate with Gold, and is more 'the common man's Gold'.
The other issue, and that's my main concern: we're going to be dealing with a terrible deflation. How to keep local economies liquid? For this specie is worthless: Gold/Silver is very bad for financing economies. They're 'good' as a store of value, but bad as a means of exchange.
It's absolutely vital that people start investing in highly liquid, ultra cheap currencies like De Florijn to combat the coming money scarcity.
I know of a fair few wealthy people who realize what is going on, and who are scared shitless too, because they don't know what to do.
But for the working class/lower middle class (the vast majority), the main problem will be to keep economies liquid. They don't have savings to protect. They need jobs, income, and that's what will be destroyed.
Robert K said (February 14, 2022):
I can hardly believe that people are still handing out advice on how you can save yourself from the coming financial chaos and expropriation. As long as the Head Demons own the power of money creation, they are bound to come for you eventually.
You are foolish if you think you can match them in brain-power or organization. The only thing that could defeat their plans would be a widespread awakening to the obscene financial monopoly that has been conceded to them.
Merely transferring this monopoly to government agencies would accomplish nothing--or have you suddenly been converted to faith in the incorruptibility of politicians?
Recall Bacon's admonition: "Money is like muck, no good except it be spread." A basic provision of every national constitution should be that new money will be flowed into the economy via the population as a whole, preferably in the form of regular universal dividends, based, of course, on the aggregate prices of goods on the market.
Imagine what a difference there would have been in the way the COVID scam evolved if people hadn't been subjected to vicious pressure to comply because of their lack of financial security.
The well-to-do live off dividends while convincing the bamboozled population in general that it would be immoral for them to enjoy the same benefits!