Zero gold reserves

[stonepicker]

So canada now has zero gold reserves if i read things right. That's not a good thing imo. It's always nice to hav something in the cupboard. I'm curious what the u.s. has for gold reserves.

[Rareearth]

That's ok.
There are lots of reserves, and established mines. Government will expropriate as required.

[bucket]

I think parker schnabel is mining in canada. Maybe Tony Beets and todd hoffmann too. Many others.

[boarderbloke]

[URL=http://www.zerohedge.com/news/2016-03-03/its-official-moment-canada-has-no-gold-reserves-left]Finance Minister Bill Morneau sells Canada's Gold Reserves[/URL]

and still, we'll have a 30 billion dollar deficit this coming fiscal year,,,,BUT NO WORRIES, the budget will balance it's self!

[cottonpicken]

Years ago I ran our fx reserve numbers and gold reserves at peak and I think the number was 3000 tonnes is what Canada could have amassed. Not sure what our fx reserves are now but I doubt it's enough to defend our currency. The us is sitting around 8000 tonnes(maybe). If things go sideways we could be in a lot of trouble. There are credible rumours when the reset happens gold will be apart of the currency system.

[SASKFARMER3]

I agree there will be a reset and it's coming sooner than later. Land is king guys hiding cash cash is king people buying safes. Gold is something we should of kept.
But with a idiot teacher in charge must be new math he is using.
The budget will balance itself!

[stonepicker]

My apologies, i didn't make myself clear. I mean't gov. of canada reserves. I agree we have lots in the ground here. The gov. sold the last of our reserves for a little pocket change.

[stonepicker]

I agree with rarearth too, they would confiscate as needed. Isn't that sort of what the u.s. did decades ago when they made it illegal to own gold?

[cottonpicken]

They made it illegal then defaulted. The purchasing power dropped 75% overnight. Then came Nixon and another default,well they where forced to let it float because degaulle of France called bs and started exchanging paper.

[biglentil]

It seems like some type of play by BOC to convince the populace that gold has no monetary value. Might also be their last ditch effort to lower the cad dollar and stimulate economy before resorting to NIRP.

Yes Cotton the removal of the Bretton Woods in 71 by Nixon most likely will prove to be the greatest crime against humanity ever. The sheeple just do not know it yet.

[stonepicker]

Canada is the only G 7 country without tonnes of gold in reserve. Sort of like going to a meeting with no clothes on.

[biglentil]

The sale of the last 1.7tons came in just under 100 million CAD or around $3/per capita. If it wasn't to send a message and Canada is that broke, Canada will be the 51st State in no time.

[cottonpicken]

What bothers me is canada population wise is a really really big city,resource wise we are off the map,the sheiks of aribia have nothing on us.

Maybe a bargaining chip in the big scheme of things?