A boots-on-the-ground report from Canada:
I tried to withdraw $20 000 in cash from my bank today. They would only give me half, due to their “reserves being very low”. They were out of $100 dollar bills, gave me $50’s instead. They said the next cash shipment to them was on the 23rd. Later in the day they called me and said the next cash shipment wouldn’t be until March 2nd. I bank at RBC, the biggest bank in Canada. My boss ran into the same thing at TD, another big Canadian bank. The bank staff was very nervous. I was calm and polite since I’m well prepared, but they looked like they had been yelled at a lot in the last couple days since the government started locking down accounts of people who donated to the Freedom Convoy.
The bank run is real.
Power to the people.
The more serious problem the Canadian government has caused for itself is the extreme lack of confidence it has now instilled in the entire banking system. Now, in addition to not receiving any interest on their deposits, even Canadians who are not involved with the Freedom Convoy are learning that they can’t even rely upon the banks as a safe store of their wealth.
Since its role as a store of wealth is the primary purpose of money, this means that the legitimacy of the Canadian monetary system is being actively undermined by the converged Canadian government. Which means that the legitimacy of the Canadian government will also soon be questioned by those who don’t even support the convoy.