The Canadian banks are doing good on the Toronto Stock Exchange. Royal Bank of Canada The Toronto-Dominion Bank Bank of Nova Scotia Bank of Montreal Canadian Imperial Bank of Commerce Watch the iShares S&P/TSX 60 Index ETF (XIU.TO). Top 10 holdings are those 5 banks. https://ca.finance.yahoo.com/quote/XIU.TO
It goes beyond a (retail clients) run on the banks... Do you know why Switzerland created numbered accounts? More importantly, who or what business would inflow money to Canada with the new confiscatory and cancellation powers dictator Trudeau has unleashed? The Canadian dollar will go to hell if things continue on the current path. The country is losing it's standing and trustworthiness by the day!!
I've never really been into the whole crypto scene, mainly because I feel at some point the governments and central banks will put a ton of regulations on it, as well as monitoring or seizing crypto exchanges which would kill the price as everyone jumped ship. That being said, I wish I knew of an actual stable decentralized crypto that didnt charge a ton to move between wallets. Also always feared the thought of losing my hash key with no sort of recovery. Wouldn't mind at least dropping a few thousand in emergency fund into it.
Yeh, I don't see what would stop a government from just killing crypto if it became too powerful. Governments are the ultimate monopoly. They hate competition and will try their best to kill it. If 10% of the population holds crypto and 90% of the population holds dollars...which group do you think will get sacrificed to help save the other.
Realistically what control does the Government have over the internet? Without it crypto doesn't work. Do foreign governments (Russia China) have internet restrictions?
I truly believe that the day will come where there won't be anything that a government can do about their fiat currency. It might take a while for this to happen to the USD or Canadian dollar, but once the slide starts, it will be ugly. Look at home some governments have to raise interest rates to double digits just to stabilize their currency. This clearly won't be possible given the debt of these so called first world currencies. The market will eventually decide who goes down next, and when a clear bridge to get off fiat like crypto is growing every day, the move will perhaps be an easy one for the majority to see.
China for sure does. Unfortunately, I think some would-be tyrants in the U.S. and Canada would like to do something similar, along with China's social credit system. China’s domestic restrictions on online freedom of expression | Chatham House – International Affairs Think Tank