Banks Prepare For MASSIVE Housing Bubble Burst In Canada! – You Won’t Believe What BMO Just Did
Josh Sigurdson talks with author and economic analyst John Sneisen about a recent shocking development in Canada as the Bank of Montreal is now bundling uninsured mortgages. A first for Canadian bonds!
As John breaks down, BMO is doing exactly what banks did in the U.S. in 2005-2008 leading to the housing bubble burst and recession.
To understand this, one must understand collateralized debt obligations (CDO) which basically means that banks are selling packages of almost entirely bad mortgages. Included in the packages are a few good mortgages which allow them to rate the packages by the top two or three loans and then sell them to people, pushing them into debt.
The market manipulation is starting to hit its peak in Canada. Artificial markets always eventually come crashing down. As the housing bubbles in Toronto and Vancouver grow to all time highs and cause massive instability, it’s important to get out of the system.
People are much better off decentralized and insured with sound money instead of thinking their house is an asset or piggy bank.
Stay tuned for much more from WAM!