Time to hoard grain, buy more bins?

[macdon02]

https://www.weforum.org/projects/digital-assets-distributed-ledger-technology-and-the-future-of-capital-markets

we have at least 3 major Canadian banks doing "projects" with World Economic Forum on digital currency, TD, RBC, and BMO are acknowledged. I suspect a forced digital currency would open the door for extreme negative interest rates. Launch date is expected early Jan '21. The shutdowns are doing vicious economic damage and banks need bailouts, the negative rates would go directly to Canadian banks, in essence a "bail in" as share holders with savings will be penalized under an "equitable" restart. ECB is setting the precedent, their banks are in far worse shape then ours but with talk of the third wave here.... Biden and the Dems are on record they are in favor of this digital approach.

Here's a full alphabetical list of of the "partners" that have signed up. You'll recognize a lot of Canadian names, SNC, Nutrien, all the banks I believe and some other more familiar names that might be your suppliers or holders of your non asset savings and borrowing.

https://www.weforum.org/partners#search

[furrowtickler]

Errol how do see digital currency fitting into our current grain markets ?
Seems obvious now it’s coming regardless.

[farmaholic]

We are already digital:
Direct deposit
Debit cards
Credit cards
E-transfers
Wire transfers

Only thing is if a whole new currency is adopted or established. Like the Euro(?).

A currency needs to be widely accepted and liquid to be of any use or value.

Edit in: "unlike"

[furrowtickler]

We are already digital:
Direct deposit
Debit cards
Credit cards
E-transfers
Wire transfers

Only thing is if a whole new currency is adopted or established. Like the Euro(?).

A currency needs to be widely accepted and liquid to be of any use or value.

Edit in: "unlike"

I could be wrong but that’s what they are talking, this is a whole new currency .
Will be the basis of the great reset that’s coming .
I am just curious where we fit into this whole cluster as farmers ?

[Austrian Economics]

Negative interest rates are coming, but I don't think central banks are too concerned about making everyone go cashless. Anything bigger than a mom and pop store cannot transact solely in cash. It's not secure enough and most suppliers don't want the hassle of being paid in wads of bills.

I don't think hoarding commodities is a good strategy, or perhaps only useful for short periods. The overall price trend for commodities is downward in a falling interest rate environment. This is not the 1970s.

[errolanderson]

Errol how do see digital currency fitting into our current grain markets ?
Seems obvious now it’s coming regardless.

What is occurring is a major shift in global power and a move away from the USD as the reserve currency. That's a 'for sure' in my mind. Also, the makeup of the S&P index may be turned upside down as companies fail and mergers occur. Debt and COVID recovery will be determining factors of this shift.

In my view, you just don't change the way global commerce occurs without taking hostages. On the current path, we have an incoming depression right now. The so-called 'great reset' will not pay-the-piper. This may take a generation to stabilize.

The U.S. has to get control of COVID soon as China is now charging ahead in several key sectors. COVID is taking a huge toll on U.S. growth. Canada good grief . . . . The truth of Canada's real debt crisis remains in-hiding.

We will see a major change in global power. India is a silent up 'n comer. Africa can feed the world on its own if it can get the guidance and stability. China is now a key player in Africa's development. This continent will eventually be a major pipeline. The next decade will be significant.

North America will continue to lose its influence on global grain pricing to the Black Sea and Asia (IMO). This could eventually create strains on the domain of Chicago price discovery. South America will also gain power in price discovery over the next few years. Much change, questions and no-doubt pain lies ahead despite the move toward digital (IMO) . . . .

[furrowtickler]

What is occurring is a major shift in global power and a move away from the USD as the reserve currency. That's a 'for sure' in my mind. Also, the makeup of the S&P index may be turned upside down as companies fail and mergers occur. Debt and COVID recovery will be determining factors of this shift.

In my view, you just don't change the way global commerce occurs without taking hostages. On the current path, we have an incoming depression right now. The so-called 'great reset' will not pay-the-piper. This may take a generation to stabilize.

The U.S. has to get control of COVID soon as China is now charging ahead in several key sectors. COVID is taking a huge toll on U.S. growth. Canada good grief . . . . The truth of Canada's real debt crisis remains in-hiding.

We will see a major change in global power. India is a silent up 'n comer. Africa can feed the world on its own if it can get the guidance and stability. China is now a key player in Africa's development. This continent will eventually be a major pipeline. The next decade will be significant.

North America will continue to lose its influence on global grain pricing to the Black Sea and Asia (IMO). This could eventually create strains on the domain of Chicago price discovery. South America will also gain power in price discovery over the next few years. Much change, questions and no-doubt pain lies ahead despite the move toward digital (IMO) . . . .

I just hope Canadian farmers are not part of the hostages and left hung out to dry in the winds of change .
Agree this move by the IMF and the great reset Is a direct move against the USD and our dire Canadian debt situation is very concerning with this oncoming change .
No doubt China is now a huge power player in Africa .... explains a lot of what’s transpired this past 10 months.
Thanks for the insight , clarifies a lot of what’s going on .

[ajl]

The great reset like all grand schemes is also doomed for failure. The replacement of the US dollar as the reserve currency has been predicted for 30 yrs bus has not happened nor will happen for some time as there is no replacement on the horizon. The $USD has been gaining strength recently. If (God forbid) there is a harris/biden win today, that will pivot the US back to propping up china once again but china has just too many problems of its own making to become a super power. Their economic growth was manufactured primarily by borrowing the $USD and supply chains are changing away from china. One major strength the US has is not being dependent on export to broke people. Having the US prop up china would likely provide a boost to commodity exports for a while anyways.

[LWeber]

The great reset like all grand schemes is also doomed for failure. The replacement of the US dollar as the reserve currency has been predicted for 30 yrs bus has not happened nor will happen for some time as there is no replacement on the horizon. The $USD has been gaining strength recently. If (God forbid) there is a harris/biden win today, that will pivot the US back to propping up china once again but china has just too many problems of its own making to become a super power. Their economic growth was manufactured primarily by borrowing the $USD and supply chains are changing away from china. One major strength the US has is not being dependent on export to broke people. Having the US prop up china would likely provide a boost to commodity exports for a while anyways.

https://www.ledgerinsights.com/covantis-blockchain-agribusiness-adm-bunge-cargill-dreyfus-glencore-cofco/

These guys are 18 months behind Russia's grain, oilseed and pulses blockchain initiative; but don't worry, no one would want the lentil genetic structure that took 25 years to develop and Saskatchewan is so willing to give away

[WiltonRanch]

Demographically speaking China is getting older along with Japan and South Korea. The rest of the developed world is as well. India and sub Saharan Africa buck the trend. Next 50 years China will be lucky to take care of an aged population. Their push to become a superpower I believe is hastened by the fact they want to become rich before they get old but at a replacement rate of 0.6 the sweat shop labour pool eventually runs dry.

[biglentil]

Its not like this is a new entity trying to up end the current dollar based system. It is the very same group that currently controls the money supply of virtually every nation on the planet, including Canada's central bank.

*"Give me control of a nation's money SUPPLY, and I care not who makes the laws." - Mayer Rothschild

[farmaholic]

Its not like this is a new entity trying to up end the current dollar based system. It is the very same group that currently controls the money supply of virtually every nation on the planet, including Canada's central bank.

*"Give me control of a nation's money SUPPLY, and I care not who makes the laws." - Mayer Rothschild

Until anarchy reins supreme

[blackpowder]

So, have some US income assets.
Get more or no?

[jazz]

We will see a major change in global power. India is a silent up 'n comer. Africa can feed the world on its own if it can get the guidance and stability. China is now a key player in Africa's development. This continent will eventually be a major pipeline. The next decade will be significant.

.

I respectfully disagree errol, none of those places you mention will ever take the top spots in the global currency dominance. It will be the USD for the foreseeable future.

Africa will not flourish with china on its back. Plus it has its own corruption problems. Even with colonizing europeans in there that place couldnt be turned around. China will be no different. And india will see what its like trying to provide the basics of life for 1.6B people who dont even have toilets yet.

[macdon02]

I respectfully disagree errol, none of those places you mention will ever take the top spots in the global currency dominance. It will be the USD for the foreseeable future.

Africa will not flourish with china on its back. Plus it has its own corruption problems. Even with colonizing europeans in there that place couldnt be turned around. China will be no different. And india will see what its like trying to provide the basics of life for 1.6B people who dont even have toilets yet.

Umm, not sure on USD "forever" that's a long time. Africa's problem is security, no one invests if they believe they'll be robbed by thieves or govt, they just can't get that shit figured out over there. They've tried for how many hundred years, but yes they are productive, don't get me wrong, likely much better potential then Canada but they need the security and the US ain't going there anytime soon. One can only read so many headlines from Europe's elite before it has to be recognized what's getting pushed, they are deep, considering they are 60% of DX, if they buckle, it's moonshot USD. But things are changing on the commod sector and equities have had a good run, almost too long. Boats don't turn on a dime and watching livestock get gassed last spring, milk getting dumped, crude paying storage at -$38.... rumor mill says Chinese hog herd back to pre 2014 #'s and they need another 10MMT of corn, Russian drought, its shifting in my opinion, ala 2006-7. Then there's the charts, ohh bessy.