Canada’s gold reserve down to its last coins – 2016
The future of Canada’s economy is looking horrible going forward, according to the Canadian press Canada’s gold reserves are down to 22,000 ounces as of March 2016. That’s 1375 pounds meaning Canada’s total gold could fit in a room of a Torontonians over-price condo. You can read the story below.
Ireland has twice as much Gold reserves as Canada, Aruba has more gold reserves than Canada does? To give you better understanding of Canada’s position in 2016; Trudeau is currently stimulating the economy spending Billions, Interest rates in Canada are on par with the United States at 0.50%. Canadians owe $1.71 for every $1 they make, Oil is down which usually would boast the Canadian economy but it can’t if the BoC were to normalise the economy the financial markets would crash and because of policies good paying jobs continue to leave Canada.
Come on how about some optimism? What’s with all the doom and gloom?
The only optimism I can offer at this point to Canadians is buy some silver coins, own some gold and have some US dollars IN YOUR POSSESSION! What I see occurring is a steep decline in the Canadian dollar. I predicted the Canadian dollar would reach 69 cents U.S well Canadians better be wary of who becomes president of the United states because Hillary and Trump both will inherit a troubled American economy.
If Trump wins the election in the United States, Canada will have about 2 years to get it’s act together. Trump will build a wall and Mexico will pay for the wall. Unfortunately Mexico won’t pay for the wall the way most people think. Mexico will pay for the wall via TARIFFS. Trump will tell Mexico to pay for the wall and if and when they decline he’s going to put tariffs on their goods. The markets more than likely won’t react well to this however the strength of Trump as president will start to show, which I anticipate will be good for the U.S economy which will lead to the U.S federal reserve raising interest rates.
A Clinton presidency will look a lot like an Obama presidency, which will also be good for the MARKETS. A Clinton presidency also means interest rates will raise, but probably not as fast. The only current presidential candidate that could really change things is Bernie Sanders. Trump barks the loudest but his policies don’t scream that much change, Trumps policies are more about EFFICIENCY. American politics unless Bernie Sanders wins or unless an unexpected event/disaster or world war ensues will have a negative effect on the Canadian economy moving forward.
If someone were to ask me I would say all of this is orchestrated, I personally can’t believe that the Canadian government could be this stupid. The media outlets know what’s going on and it’s pretty easy to see that the Canadian economy is not in decline as many people say but it’s being purposely destroyed to bring about something that I personally can’t manifest in my own mind at the moment.
Canada without gold reserves should tell you that you should get your gun license, have a gun with bullets, have some US dollars, have some silver, some gold and a passport. Because austerity measures are probably heading Canada’s way. Socialism usually leads to this path i’m just surprised on how fast it’s happening.
There was no reason to lower interest rates in Canada, especially when the Loonie is looked at as a petro dollar and oil prices are as low as they are. The reality is in 2016 these should be the best times in Canadian history. The housing markets in Toronto and Vancouver would still be up; mind you they may not be as high as they are now but…. if let’s say the BoC kept interest rates at 2% that’s a good number the Canadian economy would be great. The problems Canada is stuck with are those other high interest non appreciative, non mortgage debts, those other debts won’t allow the Canadian economy to deflate, which clearly means an economic crash is coming.
What kind of economic crash is coming to Canada?
During the last great depression America and all the other countries including Canada had a deflation depression. Germany on the other hand had an Inflation depression. Canada is heading for a hyperinflation style depression which is why I advise anyone reading this if you have U.S dollars DON’T SELL THEM! Gold and silver will be great investments going forward for CANADIANS! I actually like the U.S dollar over both silver and gold going forward. The Canadian dollar will not recover from this hyperinflation, I personally don’t see the Canadian dollar reaching parity with the U.S maybe ever again(Unless Bernie Sanders wins). The Canadian dollar will be closer to the Mexican peso and personally I think that was the intention all along. In order for the our socialist governments to make good on their promises they have to kill the loonie.
The Canadian housing market
If you’ve ever been in a hyperinflation scenario it’s actually not that bad if the government is protecting you or if you’re employed in a sector that the government deems a necessity! The DETACHED Canadian housing market for Toronto and Vancouver actually bode well once hyperinflation hits this country. The condo market on the other hand… Well if your condo is in a good area you should be fine if it’s in a not so good area well it will be a hard sell, but it could be used as an investment property.
Canada depleting its gold means we’re in trouble and for those of you thinking well Canada can just buy more gold? Well I doubt Canada will use U.S dollars to buy gold and I also don’t see them purchasing gold with depreciated Canadian dollars, as that would signal a panic.
Look I’ve never been big on Gold, but even I know the bullish Goldbugs exist and are waiting to make a HUGE profits. Canada selling it’s Gold reserves is a sign this country want’s the Canadian dollar to go lower, the problem with this scheme is Canada’s building a service sector economy, this is what confuses me going forward. We’ll see how this unfolds but again the key will be who becomes the next U.S president.
If anyone except Bernie Sanders wins American Interest rates are going up and I personally don’t see how the BoC can raise rates without causing a crash or forcing the federal government to add more stimulus spending. I’ll end this post here, the great thing about being in Canada is our bland economy.