Home Capital Group CRASHES! – Causes Contagion as Other Lenders Fall!

Josh Sigurdson sits down with author and economic analyst John Sneisen to give everyone an update on the fall of Canada’s Home Capital Group now being labelled Canada’s “New Century moment.”
While people on television claim this is not a credit issue and simply based on faith of shareholders, this is just a simplistic talking point pushed by the heads of Scotia Bank and other major banks panicking over this massive crash.
This has also lead to other lenders seeing massive losses, proving a bank jog is happening. One of those caught in the cross-hairs is Equitable Bank.
The company said that customers had withdrawn an average C$75 million each day between Wednesday and Friday, and while the withdrawals so far are modest, and represented 2.4% of the total deposit base, the recent HCG case study showed how quickly such a bank run could escalate. And while liquid assets remained at roughly C$1 billion after the outflows, the company also announced that it had taken out its own C$2 billion credit line with a group of Canadian banks, just in case the bank run was only getting started.

We will continue to report on this insane developing story as bubbles inflate in Vancouver, Toronto, Hamilton and other places across Canada.

Video edited by Josh Sigurdson

Featuring:
Josh Sigurdson
John Thore Stub Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

Visit us at www.WorldAlternativeMedia.com

LIKE us on Facebook here:
https://www.facebook.com/LibertyShallPrevail/

Follow us on Twitter here:
https://twitter.com/WorldAltMedia

DONATE HERE:
https://www.gofundme.com/w3e2es
Help keep independent media alive!

Pledge here! Just a dollar a month can help us stay on our feet as we face intense YouTube censorship!
https://www.patreon.com/user?u=2652072&ty=h&u=2652072

BITCOIN ADDRESS:
18d1WEnYYhBRgZVbeyLr6UfiJhrQygcgNU

Buy Tickets To The Historic ‘Red Pill Expo’ in Montana!
http://redpillexpo.ontraport.com/t?orid=294&opid=6

World Alternative Media
2017

“Find the truth, be the change!”

(866)

About The Author
-

12 Comments

  • Charles H
    Reply

    If central banks can literally create ‘money’ out of thin air – just by clicking on digits – why can’t this whole charade go on indefinitely?

  • Dave Mc Glynn
    Reply

    Charles H If they continue to print they will eventually create hyper inflation and paper money will be even more worthless than it is now. If house prices have gone up by 30% in Vancouver in one year and wages 1-2% a major imbalance there. People can no longer buy the extras that keep this economy going and it comes to a grinding halt.When a lot of home owners in Toronto have a debt to income ratio of 300% plus all it takes is a interest rate hike or a major drop in the Canadian dollar to tip them over the edge. Then the banksame areally left with all these foreclosures on their books.Josh and John are correct in their opinions. Living costs can’t keep going up and up while wages remain the same. You can’t have one without the other! Pop!

  • ON Ontarible
    Reply

    As the economy tanks & houses are repossessed, how many of those homes will be turned over to Moslem Gimmiegrants?

  • watcher on the wall
    Reply

    solution…..???? liquidate as much as you possibly can , as fast as you possible can and buy silver, gold, bitcoin and ethereum , with metals always buy less then 1000$ at a time or the government is informed about the purchase

  • Stephen Williams
    Reply

    THIS IS A NATURAL ECONOMIC CYCLE. BOOM AND BUST. THAT IS WHY I AM GLAD I BAILED OUT. RIGHT NOW I NOTICE THAT THE HOUSES ARE NOT SELLING AS FAST. I HOPE THE REAL ESTATE AGENTS WILL GO FIND A FACTORY JOB BECAUSE THEY HELPED THIS HAPPEN.

  • Kevin Fulop
    Reply

    Yep, fairly certain the 5 Canadian banks were bailed out for a total of 114 billion as a result of 2008 crash.

  • Denton Woods
    Reply

    They will just create more fake dollars …get ready for inflation not hyper but more than we have seen as Canadians.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>