Canadian Banks judged "soundest" in the world

[thomaspaine]

http://www.ctv.ca/servlet/ArticleNew...hub=TopStories

"In the midst of a global market crisis, a survey by the World Economic Forum has proclaimed Canada to have the world's soundest banking system."


Thoughts?

What about the underlying currency?

[Adeptus]

Re: Canadian Banks judged "soundest" in the world

Sound? You mean like the sound of teeth grinding panic when $832 billion of CDS was about to blow up the only top 5 banks in Canada the day before AIG was rescued?

http://network.nationalpost.com/np/b...ult-swaps.aspx

Oh yeah, we're sound. Sound as our super steady, never wavering currency. Check out this V action. Canadian dollar moved 4 cents from peak to trough in 1 day on Friday.:eek:

http://finance.yahoo.com/currency/co...USD&amt=1&t=1d


As sound as our collapsing real estate market?
http://www.greaterfool.ca/2008/09/24/media-release/

Or as sound as our debt to GDP ratio? (we rank 22/126 countries. Closer to "1" = worse). We still have more debt / GDP than USA!
https://www.cia.gov/library/publicat.../2186rank.html


Here's our prime minister speak (the first guy)... SOUND FAMILIAR??
http://www.youtube.com/watch?v=tER_MH9D1XY

I'm Canadian. I'm 50% physical gold.

[thomaspaine]

Re: Canadian Banks judged "soundest" in the world

Let me rephrase that,

relative to others, what is your opinion?

FWIW I'm in PM's and cash. I'm wondering if Canada might be in a better position than the US though.

I think the drop we've seen in currencies is a temporary thing as companies are trying to raise cash to pay off CDS etc.

[Starving Steve]

Re: Canadian Banks judged "soundest" in the world

http://www.ctv.ca/servlet/ArticleNew...hub=TopStories

"In the midst of a global market crisis, a survey by the World Economic Forum has proclaimed Canada to have the world's soundest banking system."


Thoughts?

What about the underlying currency?

Oh, don't get me going on this:

Canadian banks pay ZERO interest and charge the customer with fee after fee after fee after fee after insult after an outrageous spread to convert your U.S. dollars to beaver bucks. And if you don't like it, "There's the door man."

As for beaver bucks, they are backed with U.S. dollars and Euros, both of which are backed with debt and hot air.

Should I go on? Should I say that Canada's gold reserves backing the beaver buck were sold in the early 1980s? Should I say that Carney who heads the Bank of Canada now used to work at Goldman Sachs in New York? Should I say that Carney is a supporter of current Fed policies under Greenspan and Bernankee?

Maybe I am stretching a bit, but suffice to say that Carney was NOT chosen because he rebelled against current economic policies in the U.S....Suffice to say that rebels in recent years are NOT the ones who have gotten ahead at Goldman Sachs, at the Fed, nor anywhere in America under the Republicans. That is why we all are in this economic mess now.:p