Sundance writes,
In the bigger picture, the Canadian banking and financial system was hit hard by the deployment of the Emergency Act which highlighted the ability of the government to arbitrarily freeze and seize money, assets and financial investment capital without any due process.
There are also strong rumors in the financial sector, that in addition to Canadians removing money from the banking system, previous investment funds from Hong Kong had been moved – and, making matters even worse, digital currency exchanges were no longer offering secure services in Canada.
Simultaneous to the mounting domestic and international backlash against the financial system, the Canadian Senate was likely to rebuke the government of Justin Trudeau and not support the invocation of the Emergency War Measures Act against Canadian citizens.
As a result of multiple issues of backlash with severe consequence, Canadian Prime Minister Justin Trudeau and his cabinet are trying to save face, and yet walk away from the Emergency War Measures Act by revoking it before they faced the humiliation of a public defeat in the Canadian Senate.
More here: https://theconservativetreehouse.com/blog/2022/02/23/facing-financial-peril-and-a-pending-senate-rebuke-prime-minister-justin-trudeau-revokes-emergency-war-measures-act/
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