Depositor's Beware - Harper's Budget supports Canadian Banks - not Depositors

The banking crisis in Cypress has made every EU holder of an EU Bank aware that their deposits are subject to confiscation without recourse.

One thing that most people do not realize is that when a deposit is made into a bank account, the money no longer belongs to the depositor, it has been loaned to the bank and the depositor must make a claim, usually in the form of a withdrawal or transfer request, to have their money back. If the bank goes belly up, then your money is technically lost with the exception of claims through liquidation.

That is all about to change. The Harper Government has decided to consider converting depositors deposits into bank shares in the event of crisis in certain banks - just as Cyprus is doing - by using a Bail-in. Totalitarianism and it's marching partner Fascism are on the upswing in Canada.


This policy is clearly shown in the proposed 2013 Government of Canada Budget on pages 144 and 145. The budget can be found here.  It says:

Depositor Beware!

The New St. Catharines Hockey Arena - Cui Bono?

So what is happening in St. Catharines with the proposed new hockey arena? It sure doesn't seem to be about the needs of the public. The last scenario that I heard of has some 6000 seats at a cost of $60 million. That is $10,000 a seat - that is outrageous. This project reeks of influence and wrongheaded, poorly thought out decisions.

Who is benefiting (cui bono) from this project? Somebody or somebodies must be benefiting from this new rink. Is it possible that some of the following may be benefiting:

• Politicians
• Developers
• Financiers
• Contractors
• Team owners
• Sports Fans
• Arena Concession Owners

Who may be  hindered, disadvantaged or hurt by the building of this new rink?

• All of the Ratepayers of St. Catharines
• Neighbourhood around the current arena
• The City of St. Catharines' Balance Sheet
• The City of St. Catharines' Credit Rating
• More pressing projects and opportunities for the City

This project should be stopped - NOW. In the old days, carpetbaggers miscreants were recognized and often given harsh treatment and  / or driven out of town in short order - Some of those traditions are worth resurrecting.