Canada is a failed state

Totallyunknown said:
We gave Trump 200 million dollars more on top of the original plan we made in December for additional border security and a new "Fentanyl Czar" (verbatim) which I am sure will be an overpaid nothing government position.

Trump earlier in the day said he was upset American banks could not operate in Canada, but they can and do - just under our banking regulations.

However PP has now brought interprovincial trade forward as an election issue. I saw a very cringe promo video earlier where he was saying we should be looking to trade with Canada before all else.
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Is there any tangible benefit to having foreign banks operate here? I saw an Indian bank here once and it left a bad taste in my mouth. Mind you I'm not exactly fond of banks to begin with for obvious reasons.
 
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Totallyunknown said:
Citibank, Bank of America, Wells Fargo

This is honestly something you can easily Google to not look like an idiot before posting.
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Citibank is a Schedule II bank, and BoA and Wells Fargo are Schedule III. When you were rage Googling and throwing a fit did you bother to look those up? Don't answer I know you didn't.

So you're going to learn something today.

A Schedule II bank under The Bank Act. Are Subsidiaries of foreign banks that are allowed to accept deposits. Notice how the word SUBSIDIARY is in that sentence. Now you might be wondering, what is a subsidiary. Well a subsidiary is a separate legal entity from its parent company. It must comply with local laws and regulations, including tax laws, and is responsible for its own debts and liabilities. So it is an actual separate company. Which maybe owned in partial, or wholly by its parent company. The amount typically hovers somewhere above 50%. Less than 50% it is an affiliate. Subsidiaries are used, because you cannot enter the market unless you have a corporate entity in the nation. Subsidiary companies can also be sold off or spun into independent companies, sometimes keeping the name.

For example Citibank Canada, which has been steadily moving out of personal banking in Canada for the last decade or so. Citibank Canada issues credit cards and does commercial and investment banking in Canada. It's personal banking was bought out and became Fairstone financial, which as of 2021 became Fairstone Bank of Canada which is now a Schedule I bank. A schedule 1 bank is wholly domestic bank operating in Canada. But I am sure you knew that.

Now Schedule III banking in Canada are actual branches of foreign banks. Such as your examples of Bank of America and Wells Fargo. However, Schedule III banks, cannot accept deposits of less then 150k. So entirely and wholly used for commercial banking and investment.

So when the orange man says American Banks cannot operate in Canada. He is in broadstrokes correct. A subsidiary being a separate corporate entity means that it does not have the full weight and resources of its parent company, it just has the name. It is a result of a company like Citigroup throwing tons and tons of money into a foreign market, and hoping to establish a foothold. Now Canadian banking regulations are protectionist in nature. I will let you decide whether or not that is a good thing.
 
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Trudeau has been spouting this post nationality/post identity bullshit for the last ten years. Now he's suddenly pro-Canada?

Fuck off.

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Appeasing Washington D.C. works, because that's literally how Canada operates since like forever.

Now we need to address mass immigration because I don't want to live in India. I don't think people understand just how gross and disgusting the Toronto area has become with all the Indians. Toronto looks like straight up Mumbai or New Delhi nowadays. No sane civilized person wants to live in that.

I witnessed the Toronto suburbs go from White to Indian in less than 20 years. Their English is gross, their culture is flashy and cheap, and they worship cows and monkeys. It's like an ugly zoo. The body odour is horrific, and if not, they heavily perfume themselves, usually with cheap Indian perfumes too.

And they have the worse sanitation and hygiene by far, and hiring practices where they'll try turn any workplace into India. They can't even keep pristine neighbourhoods, every neigbourhood they've taken over has become ghetto and ugly. They're not good looking either, each time I see an average Indian my eyes need bleach. And their food, I have no idea how anyone can eat their slop, it just tastes like you ate the entire spice rack.

These people can't even keep to themselves, they've just about invaded every other cultural event. Whether it's East Asian, or European, these Indians will dress in their glorified blankets and pyjamas and perform Bollywood. Canada Day? It's Pajeet Day. Chinese New Year? Pajeet New Year. They got to insert themselves everywhere.

The Indian community is a horrific attack on all the senses. I've become aggressively repulsed by them everywhere and anywhere.
 
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IDontLikeLiberals said:
Trudeau has been spouting this post nationality/post identity bullshit for the last ten years. Now he's suddenly pro-Canada?

Fuck off.

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For nearly a decade, Captain Blackface™ was busy virtue-signaling Canada into a woke fever dream where national borders were “problematic,” patriotism was racism-adjacent, and cultural cohesion meant forcing diversity quotas until even poutine started identifying as quinoa salad. But now? Oh NOW, Little Potato Jr. remembers that having a country might actually matter after all. This isn’t leadership; it’s geopolitical panic cosplay. Even IF Trudeau’s newfound love affair with Canada wasn'’t performative, his track record ensures failure. Post-national states don’t magically rebuild manufacturing sectors gutted by decades of “progressive” policy. You can’t flip from open-border utopianism to economic protectionism overnight without exposing systemic rot. Every tariff threat from the south is a bill coming due for years spent moralizing instead of strategizing.
 
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Can’t help but wonder how Trudeau has harmed the Canadian economy, by letting it escalate to this, instead of just giving Big Don whatever he wanted on day one.

Yeah, the tariffs are off for now, but you know they’ll be back the next time Canada doesn’t toe the line.

Anyone who’s in manufacturing, any Canadian business has to look at this and go: “Hmm… If it’s going to be like this for at least the next four years, I better move at least part of the business to the US!”
 
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OutInTheRain said:
Citibank is a Schedule II bank, and BoA and Wells Fargo are Schedule III. When you were rage Googling and throwing a fit did you bother to look those up? Don't answer I know you didn't.
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You're so stupid that you ignored the original reply where I said they exist under our banking regulations. You asked me to name an American bank operating in Canada.

We survived the 2008 crash with less damage because we don't allow American banks to operate the same way here. When you tried to respond to me as a gotcha, did you bother to read the original post you replied to or just get excited I paid attention to you at all? Why did you ask me to name one? Did you just learn about our regulations via Google because you basically c&p the Wikipedia entry?
 
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Fapcop said:
Can’t help but wonder how Trudeau has harmed the Canadian economy, by letting it escalate to this, instead of just giving Big Don whatever he wanted on day one.

Yeah, the tariffs are off for now, but you know they’ll be back the next time Canada doesn’t toe the line.

Anyone who’s in manufacturing, any Canadian business has to look at this and go: “Hmm… If it’s going to be like this for at least the next four years, I better move at least part of the business to the US!”
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Yep. Canada needs a permanent solution which Trudeau can't offer because HE SUPPOSEDLY RESIGNED AND THERE IS A DEFINITE ELECTION ON MARCH 2025 WHICH HIS PARTY SHOULD LOSE.

better outcome would have been an election LAST MONTH but Trudeau and liberals said fuck you Canada.
 
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SandM_ said:
But would trans-atlantic trade really compensate against trading with your landlocked neighbor right next door?
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No. China would end up being our biggest trading partner. They already own all of our ports and everything in the store that isn't food comes from China. Not to mention the influence they have over our government into even letting organized crime run free.
Have you tried to ship anything from the eu to canada? That will get old very fast.
 
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