Can anyone explain how our banking systems can generate billions of dollars in a single quarter? That's “B” for billions...in one quarter!
For the fourth quarter, BMO reported $2.2 billion profit, TD Bank a $3.8 billion profit and CIBC a $1.4 billion profit.
Just over a year ago, people were being charged by the police for price gouging and re-selling essential items at a profit due to the pandemic. How can this not compare?
There are a million seconds in 11 days. There are a billion seconds is 32 years.
If you had a $1 million and spent a $1,000 a day, you'd be out of money in three years. If you had $1 billion and spent a $1,000 a day, you'd be out of money in 2,740 years.
Don MacKinnon, Vernon