Bank of Canada Drops their rate to .25%!

[SASKFARMER]

Ok, this is getting interesting as skipper and crew try so hard to make it seem they can be one step ahead of the chaos that is about to come.

The Bank has just dropped its basic interest rate a half a point overnight to now .25%. That leaves very little room to go.

These are nothing we have seen before or are they the beginning of the crash of 2020. The last one was 1929 I think. We didn't learn anything in 91 years other than Trudeaus are not good leaders.

Experts, what is going to happen?

I think all savers are going to lose everything.

[Austrian Economics]

Ok, this is getting interesting as skipper and crew try so hard to make it seem they can be one step ahead of the chaos that is about to come.

The Bank has just dropped its basic interest rate a half a point overnight to now .25%. That leaves very little room to go.

These are nothing we have seen before or are they the beginning of the crash of 2020. The last one was 1929 I think. We didn't learn anything in 91 years other than Trudeaus are not good leaders.

Experts, what is going to happen?

I think all savers are going to lose everything.

There's plenty of room to go. Push rates into negative territory. It's already been done in Europe. Money-losing businesses and governments can borrow money at negative rates and still be profitable. The downside is that creditors are subsidizing their losses. So the saver's capital is drained away bit by bit. Savers will lose everything if this lunacy is not stopped.

In 1929 there was still a link between the dollar and gold. Interest rates could not go negative. But in our fiat currency system with no link to gold whatsoever, negative rates are a feature, not a bug.

[bucket]

Or could it be that in order to pull money from tight hands ...the savers.....they go negative to get that money to be invested into the economy?


Bill Ackman just turned 27 million onto 2.5 billion because money has no morals....


Getting rich off people's misery .....what a stellar guy and will be at the government tit if things go wrong....


Sort of like the Canadian banks that haven't really lowered their rates. ..

[SASKFARMER]

our Canadian dollar is dropping and gold went up before stalling.

[ajl]

Saver's money is in the economy: it is sitting in government and corporate bonds as well as home mortgages. The only thing that has changed is that instead of the 6-7% that savers should be receiving due to making wise investment decisions they are getting nothing as their returns have been stolen to prop up the zombie economy that can't live without life support. What is interesting is that long term rates are actually going up due to higher risk in bond market.

[tweety]

If being trillions in debt before covid wasn't a problem, why is being a few more trillion in debt a problem now?

Money isn't real, it just a promissory note, The financial wizards have figured out how to be stinking wealthy yet utterly bankrupt.

[15444]

And here I woke up thinking it might be a boring news day. Another great start to the day. Could never have hoped things to get so bad so quick. Looks more like a good hard reset is finally locked in the cards. Bring on the civil unrest!

[errolanderson]

Ok, this is getting interesting as skipper and crew try so hard to make it seem they can be one step ahead of the chaos that is about to come.

The Bank has just dropped its basic interest rate a half a point overnight to now .25%. That leaves very little room to go.

These are nothing we have seen before or are they the beginning of the crash of 2020. The last one was 1929 I think. We didn't learn anything in 91 years other than Trudeaus are not good leaders.

Experts, what is going to happen?

I think all savers are going to lose everything.

The savers are the winners in this environment. Cash remains king (IMO). It's investors and asset values that are the causalities . . . .

[tweety]

Current article, yes its CBC, but info is info.

BTW, Errol, you were right after years of posting it was gonna hit the fan - it did

https://www.cbc.ca/news/business/covid-19-recession-economy-analysis-1.5510596 https://www.cbc.ca/news/business/covid-19-recession-economy-analysis-1.5510596

Oh and the Dow had its best day since 1938, 3 days of up 20%. Now that's making money!

[biglentil]

Western Canadian Select Crude now with a $5 a barrel handle.

[SASKFARMER]

So is ten cases for our SKS rifles of Chinese made bullets enough? Just asking for a friend. Yes, I know they are corrosive and clean guns after. Oh sorry, my friend cleans them after.

[farming101]

The savers are the winners in this environment. Cash remains king (IMO). It's investors and asset values that are the causalities . . . .

Rather would savers be the smallest losers?
I don't think you can be a winner if savings rates go to zero and service charges keep increasing

Investors and speculators had their day in the sun. Their net worth came from speculation(out of thin air in some ways) and in this reset it has vanished into thin air.

[foragefarmer]

How can sitting with cash on hand not be king? Trillions of dollars sitting on the sidelines everywhere waiting to pick up bargains on everything from real estate, stocks and eventually farm land.

History repeats and I'm sure the majority of you can remember 1987, early 1990, early 2000's and of coarse 2008.

Patience!!!

[canolacrazy]

i am one of the retired farmers, got out in 2013, but I still like reading opinions on agriville. everythings going to hell in a handbasket, the housing market is next on the chopping block. however cbot wheat, soybeans etc. are hanging in. Are we in for another bull run on the farm like 2008, I think so.
food panic hasn't hit yet, but I think it's coming.

[agstar77]

Ok, this is getting interesting as skipper and crew try so hard to make it seem they can be one step ahead of the chaos that is about to come.

The Bank has just dropped its basic interest rate a half a point overnight to now .25%. That leaves very little room to go.

These are nothing we have seen before or are they the beginning of the crash of 2020. The last one was 1929 I think. We didn't learn anything in 91 years other than Trudeaus are not good leaders.

Experts, what is going to happen?

I think all savers are going to lose everything.

The U.S. lowered rates first. It is bad for them and it useless for us.