I work for a bank and no joke we are trying to put a contingency plan for a bank run...

Can they spread across borders? Asking for a friend.

There's no way they would share that with a low-level employee like you.

The FDIC backs everything up to $250k and only retards hold that much cash.

Dude, rumors fly so fast in big companies like that.

If you work for a bank, answer me this.
1-2 years ago we were talking about bank runs in a thread and some faggot who worked in a bank told me that bank runs are not a real thing. It's just that they don't have enough cash on hand to give to everyone. He used the argument that if you transfer your money to a broker, that's no problem for the bank.
Ironically that's what I did and indeed it was no problem, but I still called bullshit on that cause my theory is that transfering your money to a broker is no problem for the bank because nobody does it at the same time.
So can you finally settle this? Is transfering your money from your bank account to a broker to buy some stocks the same as a bank run from the perspective of the bank, or is it a problem only when you go to the bank and demand cash?

canada's banks are some of the best reserved in the world, there may be bank runs, but there will not be insolvency

>FDIC
>Believing the government after 2019

coordinated default is all that matters

like if 50% of canadians skipped out on paying their credit cards for 6 months....

Just remember. The more they shriek against it.... that means you are over the target.

>canada's banks are some of the best reserved in the world
lmfao found the shill

Canadas banks have zero reserve requirements (so in that sense i guess they are well reserved)
Also our central bank holds no gold
its all a confidence trick

Bump

>canuckies have an FDIC equivalent
>it only protects $100k in a single category, such as deposits
>their dollar is getting slaughtered even faster than ours
>$100k is less and less money with every passing month
cdic.ca/your-coverage/protecting-your-deposit/
how this works is
>your bank declares bankruptcy
>your deposits still exist in the system, they are assigned to another bank
>inevitably this strengthens the monopoly that some banks have on the entire rest of the system, eliminating competition which they were already hampering because they are politically corrupt to begin with
but that's not even your problem now
>right now for the "wealthy" the problem is not just that you lost the entire rest of your balance
>but that your $100k is FROZEN at your new bank until the emergency subsides
>the canadian dollar re-prices
>millions of poorfags with little or no savings are cut a check because their deposits are suddenly less than the minimum deposit for any of the remaining banks
>the check stays good; once they raise more funds they can start a new account
>you are out in the street with a $67,000 check in your hands and the paper its printed on costs $6.7 million CAD today
next time try capitalism, it's "corrupt" instead of "collapsed."

me not discouraging bank runs
>FOUND THE SHILL

not having a requirement for reserves doesn't imply there are zero reserves.

you are a retarded internet user and likely have little to no knowledge about national finances

Canadian banks are required to keep 10% of deposits available with a reasonable amount of time (usually 3-5) days. So while someone can't just walk in and request to withdraw a million out of one of our branchs, they can definately withdraw that amount to be delivered to them

>go to the grocery store
>"ok sir you owe $542.33 today"
>"yes ah i will be paying with the National Finances"
>"security to checkout eight"

>canada's banks are some of the best reserved in the world
>lmfao found the shill
>
>Canadas banks have zero reserve requirements (so in that sense i guess they are well reserved)
>Also our central bank holds no gold
>its all a confidence trick

Checked.

We've held very little for a long time.

Trudeau sold the last of it circa 2018ish.

Funny thing, Trudeaus dad was the one that gave the chartered banks the right of creating currency at interest, previously 50% of the currency was created by government, interest free. He did it by amending the bank of canada act.

We still have collateral, this nations land riches. Canada is still one of the wealthiest nations on earth (oil in arctic, gold, silver and every other mineral, timber, freshwater etc.)

that's not what I'm asking you fucking leaf.
Scenario A:
>10.000 people decide to go to a bank and request cash at the same time
>bank is fucked

Scenario B:
>10.000 people decide to transfer everything they have in their bank accounts to a broker or some shitcoins exchange
>is the bank fucked in this scenario as well or not?

>(oil in arctic, gold, silver and every other mineral, timber, freshwater etc.)
which will all belong to your creditor after you default. they speak mandarin

I don't get it

>not having a requirement for reserves doesn't imply there are zero reserves.

No, but it implies they will be minimal at best. Canadian banks principal asset is mortgages, everything else is built on that. There's so little cash left it functionally is just debt, the printing of money/issuance of new credit is all that keeps it running. I agree with you in the sense that a traditional bank run wouldn't work, but its not because they're so well capitalized, its just because they'll pump out a new mortgage so they can order a fresh stack of bills for you like says, within 3-5 business day.

What kills the system is the opting out, people withdrawing money and refusing to use the service. Full switch to crypto/precious metals

or better yet, mass default

>this person works in banking

i will simply for you.

is there a material difference in a person withdrawing physical cash vs transferring the same amount to another financial entity.

not sure if retarded or trolling me, so I'll try again.
A bank run usually means many people decide to go to the bank at the same time and withdraw cash. The bank usually can't allow that cause it doesn't have that much cash on hand.

If those same people, instead of getting cash from the bank decide to TRANSFER their money from their accounts to some online broker (not another bank) to invest in something, is this as bad for the bank as requesting cash or is it not a problem cause the bank can shit out digital currency out of thin air?

The canadian government will freeze your assests in a credit union as well. Do you not know why they need a bank run?

>(oil in arctic, gold, silver and every other mineral, timber, freshwater etc.)
>which will all belong to your creditor after you default. they speak mandarin

I dunno, im seeing a double cross where they default and reset, screwing creditors with some technicality. Its their last ditch option to start a war to cover all this up.

See you on the other side anons.

Godspeed.

bank should be fucked, but can hide scenario B much easier at least for long enought to find other ways to juice its assets in-order to balance the books (in Canada this is as easy as writing a few new million $++ residential mortgages to the thousands of immigrants that arrive daily)

Already pulled all my money out of the banks 6 months ago.

>not sure if retarded or trolling me, so I'll try again.
>A bank run usually means many people decide to go to the bank at the same time and withdraw cash. The bank usually can't allow that cause it doesn't have that much cash on hand.
>
>If those same people, instead of getting cash from the bank decide to TRANSFER their money from their accounts to some online broker (not another bank) to invest in something, is this as bad for the bank as requesting cash or is it not a problem cause the bank can shit out digital currency out of thin air?

A physical bank run is no longer possible. The bank will never run out of cash because cash isnt neccessary. Think of an ATM card as a infinite bank note.

Huh? Why would you be concerned. I mean .... you did not spend all the money of your customers, rrrrright? :^)