Trudeau Backs Down After Banks
Scream about Massive Withdrawals


Blog/Canada
Posted Feb 23, 2022
by Martin Armstrong







Based upon reliable sources, Trudeau has been forced to abandon his
Emergency Act as a staggering amount of money has fled Canadian banks.
Canadians have moved accounts to the United States by the tens of thousands
following Trudeau’s freezing bank accounts without a court order which has
even included credit cards. Canadians began withdrawing all of their money
from their bank accounts with most turning to cash, others to gold, and
some to BitCoin. The demand for US dollars more than tripled in the past week.







The sheer amount of money withdrawals from Canadian banks was massive.
There appears to have been a 500% increase just in the previous 24 hours. This
is the problem with politicians. They are simply UNQUALIFIED to make such decisions.
They have no idea that freezing accounts will undermine the confidence in the
banking system,

Trudeau has created a very serious crisis and just rescinding his Emergency Act is
not going to make it all better. Trudeau has driven a stake through the heart of the
Canadian economy and that means that international capital will be skeptical about
trusting Canada as long a Trudeau is in power.







We can see that our computer picked this week as the Directional Change so
Trudeau backing down was on target. However, note that volatility rises building
into the end of March. This is what I am talking about. Our model is suggesting
that this is not simply going to return to normal.