Canada's Banks "The Great White Short"

[furrowtickler]

Ive never really gotten behind the idea of precious metals. Like Grahamp says, are you going to hike silver and gold around to pay for groceries? Who is going to accept gold and silver as payment? Will they be paying their suppliers in gold and silver? What would it really be worth if shit was to melt down. Can it provide sustenance when you're hungry? Can it keep you protected from the elements when it's storming? Can it really do ANYTHING for you? So you have a literal tonne of gold stored in a vault. You want a chicken, and the poultry farmer says, it'll be worth an entire tonne of gold? When you're hungry enough, whats worth more, the tonne of gold or the chicken to you? And, if everything were to go to gold and silver, how on gods green earth do you expect to be able to protect it? The ONLY things that will be considered precious if things were to completely flush down the toilet are guns and ammunition! You have a tonne of gold or silver but no ammunition? The guy with a loaded 9mm handgun, now has your tonne of gold and silver.

Buy dirt and defend it with lead ...

[15444]

Ive never really gotten behind the idea of precious metals. Like Grahamp says, are you going to hike silver and gold around to pay for groceries? Who is going to accept gold and silver as payment? Will they be paying their suppliers in gold and silver? What would it really be worth if shit was to melt down. Can it provide sustenance when you're hungry? Can it keep you protected from the elements when it's storming? Can it really do ANYTHING for you? So you have a literal tonne of gold stored in a vault. You want a chicken, and the poultry farmer says, it'll be worth an entire tonne of gold? When you're hungry enough, whats worth more, the tonne of gold or the chicken to you? And, if everything were to go to gold and silver, how on gods green earth do you expect to be able to protect it? The ONLY things that will be considered precious if things were to completely flush down the toilet are guns and ammunition! You have a tonne of gold or silver but no ammunition? The guy with a loaded 9mm handgun, now has your tonne of gold and silver.

Bingo. Lots of bachelor farmers out there which really wouldn't be affected by a meltdown. Now if you're a fella from the city and come along starving with a gorgeous 25 year old blonde daughter and 1 pound of gold to buy a cow, I can think of many lonely farmers that would gladly let you keep the gold.

And if you dont have anything to offer the farmer of value, you will quickly find the means to take it by force.

[sumdumguy]

I guess the Hutterites will be the only survivors with lots of chickens and the ability to sustain themselves and all their friends —— and they will have a lot of friends. 👍 i’ve heard the doomsday doctrine from my father since I was knee high to a grasshopper. It was just around the corner when he had too much time on his hands. Then spring would come, he’d get busy and forget about it for half a year.

[errolanderson]

Another shocker in European bond markets overnight . . . the Swiss 20-year turned to - 0.20%. In other words, the Swiss government holds your money for 20 years and then gives you back less.

Apparently, the odds of a U.S. Fed rate cut this year has now soared to more than 70%. Goldilocks has left the house . . . .

[biglentil]

Another shocker in European bond markets overnight . . . the Swiss 20-year turned to - 0.20%. In other words, the Swiss government holds your money for 20 years and then gives you back less.

Apparently, the odds of a U.S. Fed rate cut this year has now soared to more than 70%. Goldilocks has left the house . . . .

Market cannot bear any type of normalization of rates. Doesn't leave them much room to fend off the next recession unless they go negative with rates. Wheres helicopter Ben? We need him back to keep the massive everything bubble from imploding.


Canada is even in worse shape, good thing Trudeau legalized the bail in. What's a little 20% haircut off everyone's bank accounts.

[errolanderson]

Market cannot bear any type of normalization of rates. Doesn't leave them much room to fend off the next recession unless they go negative with rates. Wheres helicopter Ben? We need him back to keep the massive everything bubble from imploding.

Too late . . . global debt bubble has already been pricked (IMO).

[biglentil]

For now it appears the USD is the cleanest dirty shirt.

[phoenix64]

Sumdum, the Hutterites are pacifist and would be heading for the hills unless of course they could find someone else to pick up a gun and protect themselves and their countrymen lol

[sumdumguy]

Guess one should stock up with gunpowder and keep it dry - really dry.

[AlbertaFarmer5]

Ive never really gotten behind the idea of precious metals. Like Grahamp says, are you going to hike silver and gold around to pay for groceries? Who is going to accept gold and silver as payment? Will they be paying their suppliers in gold and silver? What would it really be worth if shit was to melt down. Can it provide sustenance when you're hungry? Can it keep you protected from the elements when it's storming? Can it really do ANYTHING for you? So you have a literal tonne of gold stored in a vault. You want a chicken, and the poultry farmer says, it'll be worth an entire tonne of gold? When you're hungry enough, whats worth more, the tonne of gold or the chicken to you? And, if everything were to go to gold and silver, how on gods green earth do you expect to be able to protect it? The ONLY things that will be considered precious if things were to completely flush down the toilet are guns and ammunition! You have a tonne of gold or silver but no ammunition? The guy with a loaded 9mm handgun, now has your tonne of gold and silver.

Well said. Unless you have some inside information on when the collapse of society is going to happen, and what form it will take, and how long it will last, and the ability(and will) to defend the precious metals, one is far better off remaining in society, investing in productive assets which pay dividends or make profits, reinvesting those, and enjoying life while it lasts.

I met a guy about 10 years ago who was convinced the world was about to end and everything was a conspiracy. Invested in precious metals in preparations, mid 2011 he put nearly everything into gold, sold his property, vehicle etc. He had inherited a small fortune so had a lot to invest. Last I heard he was still waiting for his investment to get back to even. May look brilliant some day, but the lost opportunities in the mean time, in nearly anything else is just sickening.