Tuesday, January 16, 2007

WTF is it NAU?

The Royal Bank has been refusing to open American dollar accounts for Canadian citizens with dual citizenship in Iran, Iraq, Cuba, Sudan, North Korea or Myanmar since April 2006.

The Royal Bank has confirmed it is conforming with U.S. Treasury Department laws.

According to CBC :
"A spokesperson for the federal Finance Department said it was unaware of the practice, and that the bank could be liable for heavy fines."

Now, as it happens, the Royal Bank has a blog [Ed. note - and rivetting stuff it is too] and on this blog they are running a contest : The Next Great Innovator Challenge.
Drop by and let them know that your idea of a great innovation is abiding by Canadian law.

Bonus Reading : The Case For the Amero - The Economics and Politics of a North American Monetary Union,
a Fraser Institute report by Conservative/Reform Party member Herb Grubel.

I especially liked this line with its quotation marks :
"#39 Resistance to the amero will be lessened by continuing to call it officially a "dollar".

6 comments:

Anonymous said...

The Royal Bank of CANADA?

Grog said...

As far as I'm concerned, the Royal Bank should be held out and publicly castigated for this.

Canadian law is quite clear about discrimination based on ethnicity - it's illegal, and immoral. (and I don't give a rat$ a$$ what US treasury law says or how it plays with the RBC organization today!)

...grrr

Dave said...

Myanmar is in the Axis of baddy badness?

Christ, I have to move my accounts.

pretty shaved ape said...

the amero? well, that just won't do. that would spoil my life dream of pocketing a shiny, new fifty cent piece. one side sporting the several chinned profile of our new government's new prime minister, the right new stephen harper while the obverse face depicts a mule. a coin that canadians can be proud to call half assed.

Q said...

The RBC blog is closing soon... WTF? Quelle deception.
I'll have to go back to 'WTF is it Now', an American sister I can trust.

Anonymous said...

Since when does a bank ask you your citizenship? They ask for your SIN.

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