Debanked Canadians

Debanking in Canada (2025): Who Really Owns Your Money, and How to Take Back ControlWe discuss “debanking” (or “de-risking”) in Canada, where banks close customer accounts for perceived financial, legal, regulatory, or reputational risk, potentially cutting people off from essential activities. We argue bank deposits are legally loans to banks, making depositors unsecured creditors, and cite the 2022 trucker convoy account freezes as a precedent. We also describe fractional reserve banking as fragile, claim deposits are bank liabilities used repeatedly for lending while depositors earn little interest, and warn about potential harms of a CBDC as a programmable dollar. Noting that six big banks hold 93% of Canadian deposits, we emphasize control and propose “debanking the bankers” by using credit unions and “becoming your own banker” by storing and growing capital through specially designed insurance policies, aiming for a 10% tipping point to drive change.Contact us: https://austaris.com/[email protected]:00 Do You Own Money01:00 Debanking Explained02:48 Trucker Convoy Precedent04:12 Canada Account Rules05:32 Fractional Reserve Reality08:39 Banks Profit Off Deposits11:12 Unsecured Creditor Truth15:32 CBDC Control Risks18:12 Take Back Control22:32 Debank the Bankers24:09 Become Your Own Banker26:24 Final Thoughts and Outro