Who else is starting to get scared!

[SASKFARMER3]

Could Canada be the next Cyprus?
Our govt backed mortgage debt is higher than the
whole Canadian govt yearly debt. This raised a
flag with the IMF last year! Hm
Is what happened in Cyprus just the beginning of
a new experiment.
Our budgets are base on normal things
happening, what if a domino effect begins, normal
is then thrown out the window.
What if all credit stopped, all mortgages called,
etc etc..
Are we so close to the end of things as we know
it.

[boarderbloke]

See thread below !!! I hear ya.

[SASKFARMER3]

Imagine a $100,000.00 you worked to save, now
worth $60,000.00. $40,000.00 gone vanished
taken.
Now throw in no credit and loans called.
Dictators didn't steal this money from people, it
was ordinary people, making a decision.

[sumdumguy]

Cash will be king in that world. Low interest rates
have distorted everything in our world. Spenders
have had a hay day at the expense of savers.

Is this the new reality in the long run?

[Slapshot]

how about this happening here:

http://www.buenosairesherald.com/article/127231/farmers-foresee-conflicts-if-gov%27t-decides-to-confiscate-harvests

[parsley]

The best asset that those with payments to make
or debt, is your character. Your word will become
your salvation or your nightmare. Banks will
carry, within narrower limits, those who have
been fair and decent.

And intolerant of those with an entiltled attitude,
but beg hard up, while maintaining their toys,
extra vehicles, vacations.

View your banker and your neighbors with fresh
eyes. Pars.

[parsley]

If I had debt, and worried about payments in
reduced income markets, I would sell some toys,
machinery etc and pay down my debt.

Interest rates will go up, which is a worry. But
more importantly, you can tell your banker you
anticipated a problem and met it, by reducing
debt.

Mostly, it shows good faith. In yourself, in your
farm, and in farming.

Take that to the bank. Pars

[bobofthenorth]

I think its a legitimate worry. Exercise prudent management, hold hard assets, don't trust the system. It sounds like its the middle class Cypriots that will ultimately get screwed: http://www.zerohedge.com/news/2013-03-25/have-russians-already-quietly-withdrawn-all-their-cash-cyprus

That shouldn't be a surprise to anybody. The Russian bogeyman was just an excuse for theft all along.

[SASKFARMER3]

bobofthenorth I agree with you, pars also to some degree, Mild debts are no problem, Negotiations can happen. Savings that's an issue that would effect the elderly and savers. Hm.

[wilagro]

SASKFARMER3...You SHEEP are always scared...get a big goat or two and perhaps a giant ASS to keep the big bad wolves away and quit worrying. AND if worse comes to worse then get busy and start your MANDARIN lessons...you will need them after Harper and his G whatever buddies get finished turning our country over to foreign TRADERS and their control. Many of the world's problems have to do with screwed-up economies as corporations sell out to or buy goods and services from China while abandoning our own manufacturing and citizenry.

[cottonpicken]

I keep looking for an example in history where the
purchasing power of a paper based currency goes
up,oddly enough i've got over 600 examples of where
it goes to zero.

If interest rates ever hit 10% i'll quit posting
forever,because i will not have a handle on the
situation and because 100% of corprate and tax
revenues will go to paying the interest on government
and private debt so nobody would have any money to
pay the electric bill to talk to on the computer
anyways.

[SASKFARMER3]

cotton the housing bubble is easy and I think is very close at hand.
Throw in a interest hike of 3 % to 6% and most of my neighbours in Regina will be gone!
Mortgaged and then line of credit on their house up to their ying yang.
Also all these new Canadians that are coming with supposed millions if houses crash in Vancouver and land in Saskatchewan wow can you say HOWYSHIT Grasshopper!
I do agree with your assessment once interest starts climbing the govt of Canada will take every thing it can from every one to pay interest. Trudeau will help that process, Socialism doesn't work Willgro.

[cottonpicken]

Christ almighty,i just read the math on minimum
wage in the 60's compared to today,25 dollars an
hour,i new it was bad,but not that bad.