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Canada Just Warned That Negative Interest Rates Are Coming
Moments ago, the Bank of Canada's chief finally said what we had been patiently waiting for over the past several months: admission that Europe's experiment with negative rates is about to cross the Atlantic. From Market News:
- BOC POLOZ: NOW SEES EFFECTIVE LOWER BOUND FOR POLICY RATE AROUND -0.5%
- BOC POLOZ: CANADN FIN MKTS COULD FUNCTION IN A NEG INT RATE ENVRIONMNT
- BOC POLOZ: 'SHOULD THE NEED ARISE' FOR UNCONVENTIONAL MONETARY POLICY, 'WE'LL BE READY'
That, as they say, is "forward guidance" of what is coming.
And what is coming, is also precisely what Keith Dicker from IceCap Asset Management said in his latest monthly letter, would happen in Canada in the very near future. To wit:
Canada
Now that the election is over, the new government can quickly get down to work to missing all of their economic forecasts and budgets.
IceCap is apolitical – we support neither the left, the center or the right. Instead, we see the world with our global goggles and can confirm that despite any and all economic policies from the new (or old) government – the Canadian economy will continue it’s downward trend.
This negative outlook for Canada isn’t driven by an insular view or perspective. Rather, the global trend is downward. The economic and monetary foundation for the global economy has shifted and this is the reason for our downward view for the Great White North.
During the election campaign, we shared this view with the eventual winning party. The response was a slow yawn and disapproving look which suggested either we didn’t know what we were talking about or they were not really interested in our answer to their question.
This lack of empathy for the escalating global government debt crisis is also shared by many in the financial sector as well. Yes, increasingly more and more investment managers are echoing concerns similar to ours – but make no mistake, the majority, and especially the really big investment and mutual fund companies continue to see a recovery right around the ole corner.
Of course, this mythical corner continues to be just as elusive as unicorns, trolls, elves and dragons. In 2014, Canada’s top Bay Street economists were all clamouring for the Bank of Canada to begin raising rates – after all, these economists had very big spreadsheets, with all kinds of neat formulas and corporate logos that predicted the Canadian economy was about to shoot to the moon.
Yes, the good times were back.
But they weren’t.
At the time, IceCap stated that the global economy was beginning to roll over and that the Canadian economy would begin shooting in the opposite direction. As well, based upon our outlook for declining growth, we also expected the Bank of Canada to REDUCE interest rates, not INCREASE interest rates as predicted by Bay Street.
Naturally, our view meant that the Canadian Dollar would decline significantly relative to the US Dollar. This provided us with a great opportunity to add a significant USD currency strategy within every Canadian Dollar Client Portfolio.
Now here we are in 2015, and the Canadian Dollar (and other currencies) has in fact declined significantly, and the Bank of Canada has in fact REDUCED interest rates not once, but twice.
We share this investment success story for 2 reasons:
- Taking an insular view of your Country’s economy will lead you to losing money.
- The global economy and financial markets continue to move in the direction which we expect. And this direction is going to produce outcomes that are being completely missed by many in the investment community.
Which brings us back to Canada. Currently, both the Bank of Canada and Bay Street economists predict the Canadian economy to recover in 2016, and then to accelerate in 2017.
The ONLY way for this to occur is if the global economy sheds it’s government debt problem. IceCap places a 0% probability of this occurring.
Instead, everyone should expect:
- Canadian economy to be in recession in 2016
- Bank of Canada will be at 0% interest rates in 2016
- Bank of Canada will be at NEGATIVE interest rates in later 2016
- Bank of Canada will be PRINTING MONEY in later 2016
And for the Canadian Dollar? It’s headed lower, a lot lower. If you are not Canadian, just know that you are in a similar boat. And when it comes to boating, there is one simple rule – going against the flow is difficult, it’s exhausting, and it can be humbling.
* * *
So, in order to force the Bank of Canada's hand, is this what's coming next?

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If you believe the Realtor propoganda. But try actually selling your house for more than you did last year. Good luck. The problem is that its only the high end stuff moving in the market, so of course the averages are going to look a lot better than the real situation indicates.
100% WRONG,,,
from bcassessment, the official tax assessment authority,,
http://www.bcassessment.ca/Property-information-and-trends/Market%20Tren...
“We have been analyzing the market data and indications are that most Greater Vancouver residential properties continue to increase in value,” says Assessor Jason
Grant. “Increases of 15 - 25 per cent will be typical for single-family homes in Vancouver, the North Shore, Burnaby, Tri-Cities, New Westminster, Richmond, Surrey and Delta.
Typical strata residential increases will be in the five to 10 per cent range.”
There you have it: It really IS different this time.
Property assessment is for TAX purposes, not resale value, although the correlation is generally positive. Basically, if government wants more money, your assessment goes up. And when did government ever want LESS of your money?
I believe ZH did a feature about 6-8 months ago about the ridiculous valuations of the crummiest old shacks in Vancouver selling for $1Million plus. Valuation is out of whack for ALL segments of the local so-called market.
ALSO 100% wrong,,, at least for BC and Vancouver, those tax assessments are running valuations based on all sales data, the top line tax assessed valuations are lower than actual market value but the % increase or decrease is the most accurate you can get.. other jurisdictions may work differently. IDK
In fact that 20% YOY increase is as of July 2015, the prices have risen more since then. Sales have been crazy.
ZH does do stories bashing Vancouver RE calling the top and they have been wrong for 6-8 years.. I have tried to explain why but I just get bashed for it in the comments as people seem to be entrenched in thier opinions but the prices keep rising.
My home is up 20% YOY and up 13% the previous year. It has risen an average of 10% per year since 2001 with only a drop in 1 year.
I track the sales and prices in my area and there are usually 2-8 homes for sale at any time, there are none now ZERO, I have never seen that before. There were 4 for sale a few weeks ago and they all sold.
I'm not sure what you think is "100% wrong" or how you think we disagree. I merely suggest that ALL real estate brackets are inflated. I have a friend in construction who renovated and sold three smallish 1960s-era houses to ethnic buyers for a little over $1M apiece. The houses are plain and unremarkable. A million dollars seems GOOFY. Some areas look more frothy than others (downtown glass towers, Whistler), but the broad Vancouver market is buttressed by long term factors like demographics, natural cyclical climate change, capital flight, proximity to major transportation and commercial hubs, seaport, etc.).
The increase % is legit, the Vancouver area RE is really based on land value, not house value pointing to milliion $ dumpy houses is irrelevent, IT IS the LAND..
My home has gone up 80% since newly built but land has risen over 500%....
Vancouver is an international and domestic draw, as long as there is inmigration prices will rise.
Yah. I hear that agricultural land is attracting big money too.
This area is the mildest in Western Canada and liable to become more important if collapse is as serious, widespread and lasting as some expect. Vast areas could become uneconomical for the kind of everyday living that we take for granted. It will be interesting to see where different groups concentrate, and where new lines are drawn. Some behaviours are easier to anticipate than others. This isn't the place for such discussion, but it is interesting.
But my fucking rent continues to go up.
?
You never give me real money
You only give your funny paper
I borrow the Loonie at close to zero
And buy yield...
[Ba-bump, bump bump]
Boy, you got to carry that trade
Carry that trade for a long time...
MOAR DEBT!!!!
The Canadian Government has turned into a bunch of WhiteHouse ass-kissing lovers.When was the last time you saw Canada in a role of peacekeeping and global dialogue for helping everyone get along?Now you see Canada as simply an arm of American Foreign Policy through NATO,helping to bomb everyone that the NEOCON warmongers like John McCain hate.If and when Canada ever gets the guts to get up off of it's dick sucking knees,it'll be a Liberal miracle.Stephen Harper the former NEOCON Conservative Prime Minister that visted Ukraine on orders from the CIA was nothing more than a fat,beer guzzling nitwit that got his support from far right wing evangelical christians.I'm glad he's gone,he was a disgrace.
wow, you love the drama teacher who has a crush on obunga & visa versa. Watch the country go to hell quickly just like socialist Ontario & new have not province under 15 years of libtard rot & ineptitude.
Choices! Choices! All of the choices!
Tyranny by any other name still stinks of goldman corruption. You've been warned Goldman
Just saw this from FT.COM
ECONOMY - Bank of Canada prepared to go beyond 'ZIRP'
The Canadian economy is facing uncertain times, but the central bank has a diverse array of weapons at its disposal and stands at the ready to juice the economy.
Bank of Canada governor Stephen S. Poloz told an audience in Toronto that while benchmark interest rates are at just 0.5 per cent - one 25bps cut away from the record low in 2009 - it still has a series of "unconventional" options to help revive the economy, if needed.
Mr Poloz was adamant that the BoC isn't about to wield these weapons, but he wants investors to know Canada's options aren't limited by low rates: "In short, we're paid to worry, and to be prepared. That's just prudent policy-making."
Here are his four options:
Go European: negative rates
In 2009, the BoC determined it couldn't cut interest rates beyond 0.25 per cent. Back then economists talked of "zero interest-rate policy", or ZIRP, long considered to be the lower bound for interest rates.
Since then, the European Central Bank, plus those in Sweden, Denmark, and Switzerland, have proved this was an illusion. Markets would adjust. So can Canadians. Mr Poloz said:
Given these and other developments, the Bank is now confident that Canadian financial markets could also function in a negative interest rate environment.
... We now believe that the effective lower bound for Canada's policy rate is around minus 0.5 per cent, but it could be a little higher or lower. This suggests that we have more room to manoeuvre in response to adverse shocks than we believed back in 2009.
Go Japanese: QE
The Bank of Japan was the first central bank to initiate "quantitative easing" - large-scale bond purchases - in 2001, when it believed interest rates couldn't be pushed any lower.
Canada hasn't undertaken QE, but the verdict from other central banks, Mr Poloz said, is that it's a viable way to extend a central bank's impact and place downward pressure on both long-term interest rates and the exchange rate.
Go English: funding for credit
In 2012 the Bank of England and UK Treasury established a program to target specific sectors and ensure lenders would retain access to funding, through a collateralised funding scheme.
The Bank of Canada, Mr Poloz said, has experience doing something similar with mortgages:
At the height of the crisis... Canada Mortgage and Housing Corporation bought insured mortgages from lenders, which made room on their balance sheets for new mortgage lending. This program was clearly aimed at one market segment that was at risk of impairment and so had a similar purpose to funding for credit.
Go, er, Canadian: forward guidance
Mr Poloz's predecessor at the BoC, Mark Carney, is credited with popularising the concept of "forward guidance" - or pledging to hold rates at low levels for a certain period, or until a key metric is hit. Mr Poloz said the BoC has used this to good effect and is happy to rely on it again. In his words, here's how it works:
It distorts the market's processing of new information by taking specific types of uncertainty off the table. This concentrates the market's position on one side of the distribution of possible outcomes. Exiting from forward guidance restores two-way trading and the market's ability to absorb economic and financial volatility, which is natural.
In sum, the Bank of Canada has plenty of ammo. At present, however, Mr Poloz doesn't think he'll need it. An 11-year low in the Canadian dollar, and low interest rates, should already be working to aid the economy. "Canada's outlook is encouraging," he said.
We all have the shiny pony hunkie part time drama teacher in charge now!!! All things will become dreamer in the future as we walk back all liebal promises & promise lots of more free shit & debt. Oh yeah & buy Canadian in you can find anything made in the greatest extremist socialist country in the world. HURL!
And so the downward spiral truely begins.
I'm guessing this is going to give even more fuel to the housing bubbles in Vancouver and Toronto. Good times ahead. And by good I man terrible...
Anyone with $USD who wants to buy some Canadian real estate for hunting fishing skiing or whatever will be able to pick up some really good deals. It's pretty up there you know!
We will tax the shit out of them. Gasoline is $2.50 a gallon.
This is terrible news for the NHL.
MUSTTTTTT.....GET.....MONEY.......OUTTTTTT.....OFFF....MATTRESSSESSS.....ATTT...ANYYY...COST.....
FDR said socialism was "practical".
We all know it's not, unless 50 million zombies on EBT was the goal all along.
I believe the Austrian Economists are practical!
Helicopter Money here we come!! Where's my cheque? time to buy some gold
CLOSE ALL BANK ACCOUNTS
GO WITH A CREDIT UNION
STOP PAYING INTO/FEEDING THE SYSTEM
GET OFF THE GRID....
IN CANADA...YOU CAN....AND LIVE A PEACEFUL LIFE....and that...is what it's all about.
FUCK THIS SHIT!
Hell man, let's all heaa to Finland where they are going to helicopter money to the pleebs
I love my Liberty safe.
Ditto. I never thought about the brand name and what it means in context of a big steel box.
Every time Poloz opens his mouth, every Canadian gets poorer. There should really be a penalty for debasing the currency on par with treason.
BTC building up energy and tension funneling into this 390-400 zone. Gonna find out relatively soon if we have further confirmation of major trend change. Check the candles on the 4H since the 5th and see where almost all of them close. I projected $600s by Feb (of course to the amusement of the guys that know everything) so we'll just have to wait and see.
Among other things a CWH within a much larger CWH spanning more than a year (see daily) and former resistance/support right at these levels waiting to be cleared and enforced.
Many of those banks operate in the US. Will they be bringing those rates here ahead of the big American banks?
I blame Global Warming and Participation trophies.
i blame politicians and bankers.
I blame marijuana.
marijuana = hemp
Hemp is a highly profitable and flexible crop and could very well be the answer to everything.
Clothes, food, rope, ships sails, seeds, fire, paper, material, paper, medicines, plastics, paints, varnishes, hemp gasoline, the list is endless.
Ever wonder why the name change?
http://www.thetruthseeker.co.uk/?p=3874
Hemp has a higher quality fiber than wood fiber. Far fewer caustic chemicals are required to make paper from hemp than from trees. Hemp paper does not turn yellow and is very durable. The plant grows quickly to maturity in a season where trees take a lifetime.
In 1937, Dupont patented the processes to make plastics from oil and coal. Dupont’s Annual Report urged stockholders to invest in its new petrochemical division. Synthetics such as plastics, cellophane, celluloid, methanol, nylon, rayon, Dacron, etc., could now be made from oil. Natural hemp industrialization would have ruined over 80% of Dupont’s business.
THE TRICKS
Andrew Mellon became Hoover’s Secretary of the Treasury and Dupont’s primary investor. He appointed his future nephew-in-law, Harry J. Anslinger, to head the Federal Bureau of Narcotics and Dangerous Drugs.
Secret meetings were held by these financial tycoons. Hemp was declared dangerous and a threat to their billion dollar enterprises. For their dynasties to remain intact, hemp had to go. These men took an obscure Mexican slang word: ‘marihuana’ and pushed it into the consciousness of America.
MEDIA MANIPULATION
A media blitz of ‘yellow journalism’ raged in the late 1920s and 1930s. Hearst’s newspapers ran stories emphasizing the horrors of marihuana. The menace of marihuana made headlines. Readers learned that it was responsible for everything from car accidents to loose morality.
not to mention it creates more oxygen than any other plant on the planet, or so I've been told.
obviously, you where denied a safe space when you where a child.
there is no way that this global NIRP policy doesn't end in a world wide depression and collapse of all currencies. what an absolute cluster fuck.
But, Hey.... the economy is "improving", so they say.
I think it may be time to drag a few of these assholes into the street and try them for treason.
If you'll care to notice, 3-month treasury bill rates in the US are now in the range of .25%, up from negative rates at the end of summer. This allows an interest rate hike of a quarter percent in December.
Jawboning has done the trick.
Buy Canadian gold miners who operate in Canada, in Canadian dollars... they will go UP
Agreed, they should, but only if you exclude the penny explorers and focus on companies with a proven deposit and long profitable mine life in a safe jurisdiction, with lots of contingency built into projections, solid cash reserves, and production within the next couple of years, because for any company looking farther ahead than that, in this turbulent market environment, there's no way of knowing how hard it could become to raise capital. We're beginning to see massive consolidation in the junior mining sector. It's very sad, really, because many outstanding teams missed the cycle due to factors beyond their control. Only the strongest outfits will survive and thrive. The Government of Canada has an outstanding review and approval process, but there is a special urgency now for it to do whatever it can to support green-lighted projects.
Justine and his merry band of eco warriors have to pay for all of the GHG warming promises and internal spending promises somehow. You can't expect the few remaining functioning businesses to support everyone else for ever.
Print baby print!!
Has it had any effect on Canadian 3-mo rates? Nope
http://www.cnbc.com/bonds-canada-treasurys/
Long Enfields No. 4 Mk. 1's.
Long Branch.
Get it?
NIRP: coming soon to a bank near you.
Negative Interest Rates, good way to start a bank run.
nope, they put capital controls on (done it every time in other countries), so who's money is it really. Answer, it is not "money" it is a loan to the bank which they are really not obligated to give it back to you. Stupid sheeple!
Unless you been taking it out slowly over time ;-)
Ok, I just want to get this out there, I went WAY overboard last night on the Trump thread, for that I am sorry, and I know I will get downarrows not matter what I say, fine.
Here is the crux of the problem, nobody wants to hear the truth, they woud rather believe a lie, than face the truth.
Here it is...there are good and bad actors in every society, race, creed, religion, govt, bank, etc...It is when the generalizations of a whole society, race, creed, etc are used to define the the problem.
I don't see Israeli's, Britons, French, Americans, Germans, Brazilians, Spaniards, Russians, Chinese, or even Muslims ALL running around with suicide vests, AK47's and spraying innocent cilvilians every other week. I do see radicalized muslims doing it. I don't see any other group doing that at all.
America got hit twice by radical Muslims, once 1993 and 2001, and at those particular times, we had not bomed one Muslim, other than Saddam, with 160 other countries due to the invasion of Kuwait. That is the truth of it, Saddam was a bad actor, period, just like Mao, Pol Pot, Stalin and Hitler.
What are the solutions, hell if I know at this point, everyone is at each others throats anyway. I will be called a zionist, jew, bigot, whatever, just because I don't hate them. I don't care what anyone thinks at this point personally, you (if American) have the 1A, and I will die to let you keep it. Just like the 2A.
But when Obama & Co. cannot call it Islamic Terrorism, and define it, he cannot stop it! But he wants to restrict the 2A for us? I don't see law abiding Americans running around the streets killing everyone, except in places like Chicago, and a few other, which have the strictist gun limitations in America.
There can be no dialogue, until people come up out of the rabbit hole, me included.
Now, was that a reasonable post? Will I be ignored and downarrowed, and called names, maybe, but it doesnt matter, it's not about me. It is about all of us, and since we can't seem to get along, and have reasonable debates, and I have tried in the past only to be labelled one way or another, I went OFF, and did the same freaking thing, and it hurt didn't it? I was wrong to sling ad hom attacks, but you see that is what I got for a long time.
If you hate me fine, that is life, but these radicals will stop at nothing to destroy anything not Islam...not all Muslims do this, but I ask, where are those moderates, and why are they not outing the radicals?
Also, why is America the world's policeman? We are going broke doing it.
No solutions can be had, if we cannot speak to each other with logic and truth...I will quit my generalizations, if you do, but continue, and I will.
Simple as that. And I am not asking anyone for any apoligies either, the moment is HOT.
As to this article, the whole world will have negtive rates at this rate!
F the rino / demonrat / msm Political Class, who have no interest in the sheeple. They could care less about US people's safety, as long as they are PC & self enrich themselves is all that matters!
I agree 100% with you. So short of a revolution, how do we fix it? Voting does not seem to work very well, manipulated like the casino, and there is the electoral college that seems corrupt too.
don't vote for controlled bought corrupt politicans which is basically MOST. TRUMP 2016!
Thumbs up!
So don't vote for 'bought' politicians but vote for the actual buyer (Trump)?
At least he is not beholden to special interests, as he bought so many, that may be a strike against him. Let me just say folks are angry, can't blame them, and at least he has stuck their chord.
I will vote for him, or Cruz or Carson, or Paul, all the others not so much.
I would like to see a day when we go back to the Constitution and overturn the thousand page Acts that we are slaves under now, all of them...abolish the alphabet soup agencies, and may the fittest survive.
Unix fella, I have no feelings towards you at all, you do what you are impelled, or what feels right by your good self, regarding everything you hold dear and believe. You are no different than any one of us 'Special Snowflakes' that post right here on the ZH.
I post like a cunt, perhaps its cos I is one, Dog only knows.
Know this though, everything you ever, and I mean 'Ever' held dear is a fabrication of lies that takes some getting your head round. From cradle to grave you are lied to about everything that you even thought you had an opinion on, a belief, a job, a school, even the fucking mother fucking car you may, or may not drive.
When that sinks in Unix, the rage you feel, then the following helplessness that comes after will make you realise, no matter what you do, you just do it, because it matters, to help others not even like you.
You have been gamed Unix, join the gang.
;-)
Ya, I have been aware of this, and I rail against my own govt for it, there are some sick twisted people there, greed, graft, avarice, corruption and power is their game. I do try to take that into account, and I do try to help others, and try to live by the Golden Rule.
We're all fucked anyway, and I want off this evil rock, just as much as you do, maybe?
I dont, never have, never will, give in Unix, I dont want off this rock at all, although I may be retired early through the actions of others, I am too well known where I am from, I really would be missed. :-)
I want vengeance Unix, I want just enough of the population to understand what I do, to do something about it.
My daughter has just turned eighteen in September, every time I look in her eyes I see me, the way she behaves, her motions, her manner, her temper, her stubbornness, her love for others, she is, me.
And it kills me knowing what I know we have allowed in our collective names. Fuck, I had fuck all to with the problems we face, what share of the game is hers?
I want vengeance Unix, in her, and my name, and guess what? What Mix wants, Mix gets.
;-)
I aint giving up at all, I just stuns me how we cannot get along, or even discuss things sometimes.
I too have an 18 year old daughter and 21 year old son, what we are committing, at least in America is generational theft...I will say that I am part of the 3%, but the cosequences of that is terrifying. I've lived through a civil war and have seen so many atrocities, it makes my stomach turn.
I have voted, so I have to say I have participated, I also participate by making money, working and being part of the society I live in...I won't be missed by many, I am a small cog in the wheel, but we all can make a difference.
We can start by opening minds, reasoning, discussion and so forth, but this fighting each other every day, butting heads and calling people names (i am guilty too), is destroying us, all over the world, not just where I live.
And I didnt say you were fella. :-)
I was a rich man once Unix, I thought, till 2008 happened, and then I was ruined, but such is life, these things happen, I am an odd one though, money never made me feel much. Such as to say, I never hungered it, it never and doesnt make me want it, it never did. I had and still have some good contacts, but when we are all reduced to the lowest common denominator, what then? My kids mean more than any amount of money that could ever be printed and it takes some big men a long time to realise, the 'Script' from thin air brings happiness, cos it doesnt.
Its what you 'Do', what will be known for, that makes you the person you are, not 'Money' banked.
There is no use fighting Unix, the truth, as it always does, will out.
Thank you for the civility mind.
;-)
Thanks for your kind words as well. In 2012 I was ruined as well, still picking the pieces, although I was never rich, just comfortable...I have had to reinvent myself three times over, and have started a business, it does not pay the bills, so my savings are almost gone now, and retirement, long gone. I get you man, I really do...are we living in a parallel universe? wow
You are truly a critical thinker, good for you. I don't fight the truth, I seek it.
Thank you too.
You take care Unix mate, anger is what destroys us. Turn that inwards, seeing as you know what we both collectively know, I wasnt rich, rich. I had way more than I and mine personally needed, and then I didnt, and didnt know why. And now I do.
And believe you me, the NSA, GCHQ, the whole lot know who I am, and just like you, I will work till the body gives owt, 96 cant ever retire, cos the cunts stole it. Its why I do now what I do, you duped this stupid cunt, me. You are not doing it to my two kids, because even if I die doing it, I will stop them.
Watch what you are doing Unix, thanks for the chat, and direct the anger exactly where its due.
Take care
96
Fair enough, enjoyed the convo. I am directing my anger away, I am trying to find some kind of peace, as it is eating at my guts.
There is a bumper sticker i saw recently, that is appropo:
I lost EVERYTHING and found ME.
I try to be a Christian, this will get me in trouble here, especially after last night, but I am a sinner of GREAT magnitude, and am trying to do something about it.
You take care too!
Great to see people can work-out their differences and accept anothers point of view.
Good people can always agree a compromise. It is the sad, corrupt, greedy, controlling, selfish, lying ###holes that need a good spanking. They think the world belongs to them.
Their puppets are stupid enough to think their masters will be kind to them and their families, but what goes around comes around. Understand, you will never be in their club!
Those that think they are somewhere near the top of the tree are more than likely stuck in minor branches. There will always be someone on another wrung of the ladder that you don't know of. Is the blackmail, the fake promises, the fiat currency and the fear worth it? Shame on you!
Desperate people take desperate actions. What sort of world do you think will be left when these rotten people have actioned their plans, claimed all world resources,
G-old, O-il and D-iamonds and ###ed-up the planet?
Those at the top may be smart, but they are certainly not as clever as they think they are! People are wakeing-up
Good people, please do not let them divide and conquer. Best wishes for the season.
It is good we talked, your words are Iron, let it be life!
you are forgiven but you must praise Putin all of tonight
LOL, ok thanks, you are a good person to say that. Lookit I have posted that at least he is doing something about it, while Ovileo does not.
EDIT: I will NEVER praise Putin, just to make that clear, ok
My US Savings account has had a negative rate for quite some time. While the bank pays a whopping 0.07 % they now charge me $9.00 / month in service fees. So yes, my US bank account has been negative for quite some time. The only reason I keep it is to hedge USD/CAD
For some perspective, in Canada I get 1.8% on my deposits and no fees on the same type account. The rate has been hovering around 2% for years now on savigns accounts all the while the US was at 0.1 % or worse. Frankly I'm amazed Canada has kept rates this high for so long...
truth, but it will only get worse
don't forget, your taxed the highest on interest, depending on tax bracket. -30% for me on 1.5% interst acct. followed by 2-3% inflation so you are loosing money (loan) by having it in a bank
Since I live in Canada, I better make plans to get my cash out of the banks. Sure, let's blame...Putin while we're at it, right Obummer.
I'm 3 months ahead of you. If any country, if you can, carry cash at home somewhere hidden. Might as well as these banksters pay shit for holding your "loan"
Central Banks do everything but create stability in markets! When a Canadian company places an order with a 16 week lead time and the Loonie depreciates against our Dollar they end up eating a huge loss. That’s why it’s been 5 years since our last Canuck order.
Canadian whiskey holds it's value better than the Canadian dollar! $5,000 in booze in my basement but I still go to the liquor store for the social contact.
please provide address - lol (personally, I smuggle mine in!) God bless those Indians!
I'll trade you a 1gram of 999.9 pure 24k for a litre of 10 yr old
now that is steep, must be some good Whiskey
Ha; if it was Irish whiskey in an opposite trade I'd be asking for 2.5 grams for it.
It seems it's simply a race to the bottom for fiat currency's which will ultimately result in a huge bout of hyperinflation which will be peddled as a panacea to reduce the debt overhang. Only problem with hyperinflation is its ability to run riot. Throughout history physical gold bullion proved to be the best protection for savers. We recognise this and we recognise most people cannot afford to acquire gold in large weights. So we produce bullion in small tradeable weights
www.teamramgold.com/about-us
Japan is almost thru its THIRD lost decade. Zero rates, debt financed spending and central bank manipulation isn't working in EU and not working in the US... OH! Lets try it in Canada! Fourth time is a charm, right?
How many economics PhD's does it take to screw in a lightbulb?
Next comes the money handouts
Finland's planing on giving every person 800 a month, doing away with welfare or pentions.
The jobs have been outsourced, and 90 percent of whats left, will be done away with by tecnology in the next couple years. Even capitalism cant survive in such a system, so this has been the plan all along. People totaly dependant on the govenment. Just watch the masive riots, if they take that 800 away, total control freedom lost.
LET ME SEE........ FIRST WE HAVE CARNEY AS HEAD OF THE BANK OF CANADA AND THEN WE TRADE HIM TO THE BANK OF ENGLAND. THEN WE HAVE THE TALKING HEAD POLOZ PROMOTED TO THE HEAD JOB OF THE BANK OF CANADA. CARNEY IS TALKING NEGATIVE INTEREST RATES AND NOW CARNEY"S CLONE POLOZ IS TALKING NEGATIVE RATES. CARNEY IS A GOLDMAN SACHS BOY AND THAT LEAVES US WITH ANOTHER SIMILAR TRAINED DIPSHIT BEING POLOZ.
POLOZ STATES THE RATES WILL ONLY GO BELOW ZERO IF WE HAVE AN EVENT LIKE IN 2008. ANY GUESSES WHAT"S COMING DOWN THE TRACK? YES, IT IS A SIMILAR EVENT AS OCCURRED IN 2008 JUST LIKE THEY PLANNED.
THE OTHER DAY THE ROYAL BANK OF CANADA STATED THAT THEY MADE 10 BILLION DOLLARS PROFIT. NO DOUBT THIS WAS MOSTLY FROM THE LOANS MADE TO the PUBLIC FOR THEIR HIGHLY INFLATED HOUSES AND BUSINESS LOANS. GUESS WHO GUARANTEES THESE LOANS. YES, THE PUBLIC DO.
WHEN THE INTEREST RATES GO INTO THE MINUS AREA THE PUBLIC WILL PAY THE BANKS TO KEEP THEIR SAVINGS IN THEIR BANK ACCOUNTS. YOUR LOANS WILL STILL EXIST BUT YOUR SAVINGS WILL BE DEPLETED. THIS IS GOLDMAN SACHS AND OTHER BANKS WONDERFUL WAY OF GETTING PAID FOR DOING NOTHING.......IT IS CALLED A BAIL IN......IN OTHER WORDS THE BANKS ALWAYS WIN AND YOU AS THE PUBLIC ALWAYS LOSE.
IF IT CONTINUES FOR TOO LONG AND WORSENS THE BANKS WILL BE ABLE TO CONVISCATE A CERTAIN PERCENTAGE OF YOUR SAVINGS AND MORE. NO KIDDING!! PRIME MINISTER DUMSHIT HARPER MADE THAT A POSSIBILITY.
ALL LOANS ARE NOTHING MORE THAN A TAX ON THE PUBLIC. THE BANKS LOAN YOU MONEY THAT THEY DON'T HAVE.
SHOULD THIS OCCUR MY SUGGESTION IS TO SURROUND PARLIAMENT UNTIL THEY COME TO THEIR SENSES. WE SHOULD ALSO SURROUND THEIR FREE LUNCHROOM AS ONE MEAL MISSED WILL CAUSE THEM TO FOLD LIKE A DECK OF CARDS.
GOOD LUCK PEOPLE AND DON'T LET THIS OCCUR.
Mostly I agree but you expect Trudum to be better the Harper who actually had an education & job. Fuddle duddle ran a part time drama club & canoed while counting his inheritance but oh is he so cute, I bet you wife just loves the shiny pony
By no means. We in Canada hate the pricks before we vote for them. It's a Canadian right.
Solution, Invade Canda! take their oil for ourselves! Hit them while their weak!
Now's the chance to fulfill Benedict Arnolds dream. Save them from a rogue Central Bank and make them a territory of the USA.
Be a great distraction from all this nonsense in the world.
it would cost more to invade canada and take their than the oil is worth
They may invade us... 'The Mouse that Roared' scenario.
We do not need bankers to create a union of nations. If Canada, USA and Mexico would coordinate through negotiations, the 3 nations could be self sufficient in every aspect. It is that or allow China to decide how we live. Turning us against each other is their goal at this point and the Divide and Conquer is indeed working. Mexicans, Canadians and American military members who aren't on the take of The Corrupted Ones, should consider the possibly of creating this for the sake of their children. By vote, of course. Always by a vote.
i guess the fed raises rates to keep them from going negative
Negitive rates = gold gets a bid.
The ONLY way for this to occur is if the global economy sheds it’s government debt problem
Really? Steven Keen has made a pretty good case that it is private debts that are the problem.
If a government is in debt to itself, it is like the left pocket of your pants owing your right pocket.
In the case of the U.S., the FED is a private corporation, but it also has some government responsibility.
Because of this sort of quasi status of FED, it rebates interest to Treasury. In other words, public debts have their interest rebated. Of course, since there is no audit, we don't know EXACTLY what the fed is doing.
But, the point remains. It is private debts that are the problem.
Private debts caused the "roaring twenties" and then subsequent crash into great depression. Private debts caused the housing bubble. Private debts were built up to cause Japan's bubble economy.
These private debts are usually against land.
The great bulk of the money supply at around 97 percent is bank credit. Virtually all of the money supply comes into being as credit on a double entry ledger. A private bank holds the debt instrument.
If government wants to make new money, it also puts something on the private banker's ledger to then create it....usually a TBill.
Government will not tax the public to then pay off its public debts, because to do so will collapse the money used for savings and transaction in the economy.
See Godley's sector equations for how public debts are the public's savings.
Don't shoot the messenger - I didn't create the crazy debt system.
(Public debts in another currency are a different matter. Public debts owed to a foreign economy are also a different matter - in that case the left pocket owes a pocket in a different pair of pants.)
www.sovereignmoney.eu
"If a government is in debt to itself, it is like the left pocket of your pants owing your right pocket."
If a gov't owes money to it's own gov't Social Security fund and they don;t pay the debt then how do SS recipients get paid?
If the gov't stops paying back the Fed Reserve then how long is our money still accepted outside of our borders for exchange? How do we pay for imports when the dollar becomes worthless?
The Case to “Reinstate” the Bank of Canada
http://www.globalresearch.ca/the-case-to-reinstate-the-bank-of-canada/5430132
These central bankers are all a bunch of clowns, who will drive their respective economies off the cliff.
Negative interest rates, if that doesn't tell you that the world is in trouble, then nothing will.
Negative interest rates are a product of negative, warmonger governments who cannot pay their bills, but press their people into servitude, imo, all for the City of London, and other international financiers of no fixed abode.
No one of sound mind and money should be surprised this latest turn of events.
Keep the Constitution. Keep the guns.
Hanukkah. When I was young, a simple Christian in CT, and the world was old, we danced together. Now all we see is the Danse Macabre by the self-proclaimed money masters, the nasty nazionists as per Donald Drumpf whose grandfather ran brothels, and 'Trump' is also in hock to moneychangers.
For my jewish friends, and the world: let's dance at the darkest time of calender when all cultures have a festival of light and hope:
https://www.youtube.com/watch?v=AyRg1UIUkjI
Being a Christian of Viking descent, my childhood jewish friend's rabbi in CT averted his eyes when we two young friends danced innocently, little knowing how old men in their counting houses divide all for mere power and profit.
Happy Hanukkah. Note the spelling. It means: is anyone at home? These United States, not some satellite of foreign money power, especially the City of London, and its nazionists who fund all sides of every war, as multiple bankrupt Drumpf and Sheldon Adelson intend to do.
+1 for when the world was old
Justin's hair. The hair will have the economy booming in 2016. Believe in the hair.
+1 only because of the scary NRA
Being the leader in experimenting with monetary tools is my job, I resent the fact that Canada is taking the lead on this. We will just have to do moar of it here.
Last year when cnd was close to par I sold anything I didn't need to survive, pulled all cash out of bank and used those Canadian dollars to long physical gold. Silver maple leafs, lead and brass of the 9,. 45,. 223, 308 variety.
Told anyone that would listen that cnd going to. 70cents by end of 2015...we'll they all said I was nuts, with the gold and the guns...I guess they couldn't enjoy the big game with me crying wolf in the background.
Well now they are starting to ask, where do I buy gold and silver...and how about those shooters? Now they worry about what I was saying, that Canada will get cut off of food supply in the dead of winter, or the power and gas get shut, bank holidays...all that shit they thought was crazy but is happening in Europe and South America right now.
Not so far fetched no is it...blood on the streets here, needing to have your gun close at hand...food storage, a still, water proof matches...yeah all that shit I wasted my time with now starting to look more interesting.
Well as for us in the great white (fuck I hate snow and the cold!) north...the ones of us that see the set up, the inside job of this fucking shit storm...we know up here in short order the winter will take care of the unless eaters and our military is peanuts to that south of the boarder so we will do as we have in the past...supply the resistance as best we can. include us in the 7%.
Don't let'em get to say "we cold dead handed some folks"
The British Crown owns Canada, and its subjects will be the guinea pig before the same is done to the UK, imo.
Then the USA.
Memo to self, say the dual citizens Soros, Kissinger and Brezinski, 'national security advisers' for the Rothschild cabal: must get those guns, must get those guns off the pesky Americans. King George...errr, mannequin queen ...errr City of London wills it.
Easy for George Schwartz. He stole for Nazis off fellow jews in Hungary and admits he is somewhat crazy. Easy for Rothschilds. They back every side, and no side at all apart from their own pockets.
Hang 'em high. Roll the tumbrils.
Canadians are too tame to hang their chief persecutor, Bronfman and his clique.
Bullish on Moaral Highground
Good time for canucks to buy PM's with their soon to be devalued savings of CDN dollars.
Now add a carbon tax to finish them off. Third world level existence achieved. Every faggot Commie's dream. All equal in poverty.
We'll keep your $250,000 in our bank, but it'll cost ya $50 a week. Bwhhhaaaaa like that's going to fucking work. Just another hidden fee from your local bank. By the way, how's that socialized medicine thingy going up there? Shittttt
Bend over and grab your beaver pelts.