This has become one of the biggest bank runs in Canadian history and the biggest bank run in decades.
Canadian Finance Minister Bill Morneau is not ruling out a bailout of HCG as the contagion affects other alternative lenders. But the FM says that there are private options on the table. Knowing the Liberal government in Canada, it’s unlikely that the private option will be put in effect.
This is due to insane derivative markets and government manipulated markets that pile debt on top of debt and always inevitably crash and burn.
John breaks down the latest and exactly what this will lead to.
Stay tuned for more on this incredibly important topic!
Video edited by Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
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