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Canada debanks over 800 citizens

Since 2018, more than 800 Canadians have faced account closures by their banks, including hundreds of supporters of the Freedom Convoy movement, as revealed by documents obtained through access-to-information records first reported by Blacklock’s Reporter.

According to the data disclosed, a total of 837 individuals have been “de-banked” over the past five years. The Financial Consumer Agency of Canada confirmed that it had knowledge of these account closures, primarily through complaints registered with regulatory authorities. It’s worth noting that these numbers exclude cases related to substantiated terrorism and money laundering.

Among those affected, 267 bank accounts and 170 bitcoin wallets belong to Freedom Convoy supporters. Those that were de-banked collectively held an estimated $7.8 million in assets.

You can read more on the matter here.

What’s going on?

• Is A Copper Shortage Coming? (theDeepDive)

• Texas Is Expected to Have Almost Half of Its Power to Come from Renewables by End of 2024 (theDeepDive)

• U.S. Considers Dropping Sanctions Against Israeli Billionaire in Push for EV Metals (WSJ)

• Foreign Affairs in Israel May Have Been On Holiday Break Even As War Broke Out (theDeepDive)

• ‘My intention is to spoil it for both of them’: RFK, Jr. Announces Independent 2024 Run (theDeepDive)

• Five years later, researchers say the impacts of legalizing cannabis in Canada have been mixed (CTVN)

• Finland-Estonia Baltic Sea Infrastructure Compromised: Deliberate Damage Suspected (theDeepDive)

• CUPE Members Pushed To Stop Paying Dues After Leader Supports Hamas “Resistance” (theDeepDive)

• NASA to unveil first newly returned near-Earth asteroid sample (Reuters)

• Chaos in New York After City Enforces Airbnb Ban (theDeepDive)

What’s the latest?

• Israel Considers Ground Attack: Israeli warplanes bombed Gaza repeatedly overnight, with the possibility of a ground offensive to root out Hamas looming. The UN reported that more than 180,000 people have been made homeless in Gaza, many seeking refuge in schools or on the streets. Israel has put itself on a war footing, with Prime Minister Benjamin Netanyahu and opposition party leader Benny Gantz forming an emergency unity government.

• Inflation Surprise: The U.S. producer price index (PPI), which measures costs for finished goods that producers pay, increased by 0.5% in September, exceeding market expectations of a 0.3% rise. This rise in wholesale prices indicates continued inflation pressures in the U.S. economy. Excluding food and energy, the core PPI was up 0.3%, also surpassing the forecast for a 0.2% increase.

• Canada Short On Spys: The Communications Security Establishment, a federal agency responsible for countering foreign interference, is facing a "major staffing crisis," according to a former CSE employee. The CSE is responsible for intercepting and decoding communications from foreign entities targeting Canada and safeguarding the government's computer network. The shortage of cybersecurity experts is said to be a global issue.

• Building Permits Up: Canada saw a 3.4% increase in the total monthly value of building permits in August, reaching $11.9 billion. The non-residential sector contributed significantly to this growth, with a 14.8% increase to $5.0 billion. In contrast, the residential sector experienced a 3.7% decline to $6.8 billion, primarily due to a 9.5% drop in permits for multi-unit construction.

• Exxon Buys Pioneer: Exxon Mobil has agreed to purchase U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion. The acquisition aims to make Exxon the biggest producer in the largest U.S. oilfield, securing a decade of low-cost production. The deal is valued at $253 a share and could add 700,000 barrels per day of oil and gas production within four years of closing, bringing it to 2 million barrels per day.

Lithium Chile & Argentina’s white gold rush

The stock market and stuff

• Birkenstock Prices IPO At $46 Per Share, Aims To Raise $1.48 Billion (theDeepDive)

• Toronto Dominion Bank Faces Potential $500-Million Class Action Suit (theDeepDive)

• Chaos in New York After City Enforces Airbnb Ban (theDeepDive)

In the juniors

• Stellantis Invests US$120 Million To Increase Stake In McEwen Copper To 19.4% (theDeepDive)

• Canadian miner Alpha Copper acquires Okeover project from Northwest Copper (SA)

• West Red Lake Gold Intersects 33.47 g/t Gold Over 1.35 Metres At Rowan (theDeepDive)

FULL DISCLOSURE: Sterling Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Sterling Metals. The author has been compensated to cover Sterling Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.