Comment: Canada, 2013 budget contains a hidden bail-in clause

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Canada, 2013 budget contains a hidden bail-in clause

that most Canadians are blissfully unaware of.

"The Government proposes to implement a bail - in regime for
systemically important banks."

The new law would make Cyprus-style bank account confiscation the law of the land for Canada (and the entire EU).

When major banks fail they are going to bail them out by taking money that is in our bank accounts.

Banks can take extreme risks with their money and lose, but the banks will be saved at the expense of raiding our bank accounts.

http://www.thestar.com/news/canada/2013/04/04/jim_flahertys_...