Forums

Help › Forums

The Difference Between Canadians and Americans

rated by 0 users
Wed, Jun 12 2013 11:07 PM (114 replies)
  • Steve2golf
    930 Posts
    Sun, Jun 2 2013 7:31 PM

    Jerm65:
    We also had to bail-out our major banks to the tune of $114 billion in 2008/09 to avoid failure.

    Well that is not entirely true, Not one bank in Canada was in danger of going bankrupt or required the government to buy an equity stake under taxpayer-funded bailouts. The Government did indeed give the banks short term loans with the provision the money be lent out as small business loans, in addition there were some toxic loan guarantees. This measure was very profitable for our country as the government stands to make several billion dollars when all is said and done.

    This measure was something many other countries did as well, and helped tremendously the smaller businesses during the "credit crunch". There was never any fear that our banks were failing as the banks here are regulated and any toxic loans are within predicted limits due to such regulation.

    The credit crunch came from unregulated toxic loans, our neighbors to the south, were the unfortunate victims of commissions and the reselling of toxic loan's again at another additional commission. It was the receding of the real estate market that made the ballooning  interest rates impossible to pay by millions of unqualified borrowers. Completely predictable, and totally premeditated, but hey, it's all about the commission. A few thousand people got extremely wealthy as a result, however nearly took down the whole world doing so, and may yet do so still.

    However, the problems are not over yet, every single country in the world has put a temporary band aid on the economy by printing money and placing such into circulation at alarming rates. This measure will sure as $hit burst wide open. Interest rates are being held artificially low, Real estate and stocks are propped up temporarily because of the artificial low interest rates and by the additional unsecured printed money, so run away inflation is next as more and more money goes into circulation. This unfortunately will be followed by vastly rising interest rates, in an attempt to curb the run away inflation, but will crash the real estate market again. Pensions will fail, stocks will collapse, jobs that remain will be off shored at an even greater rate then now, therefore unemployment rates will sky rocket, businesses will start collapsing as no -one will be buying their off shore produced widgets.

    Doom and Gloom, yes, but it's coming.

    But hey, at least a few thousand people got extremely rich, thanks to the lack of regulation of the industry.

    I digress, sorry.

  • Ducati916
    1,116 Posts
    Sun, Jun 2 2013 8:32 PM

    I think we'll call it a draw...lol

  • Jerm65
    1,413 Posts
    Sun, Jun 2 2013 9:02 PM

    Fair comment Steve.  Our banks didn't face any imminent failure, however a large part of the money injected came from the CMHC, and also from the US Fed.(!)

    That's merely splitting hairs though, as the end result is still the same and your post is bang-on.

    The global financial system is a manipulated ponzi scheme.  And any ponzi scheme inevitably fails.

    The QE to Insanity (or QE to Weimar), that the Bank of Bernank is currently running, is a sham that's designed to suck any remaining wealth from the middle class Americans.  The Fed creates $85 billion a month out of thin air, and essentially "lends" it to the banks at 0% interest.  The banks turn around and give it right back by buying US T-Bills that pay about 2% interest.  The US taxpayer is on the hook for the interest arbitrage. (I hope they at least kissed them first...)

    If that money was being used as loans for small businesses, etc., then there may be a chance of economic recovery.

    The current highs in the stock market are the result of a massive devaluation of the currency, as opposed to any increase in the underlying value of the stock.

    Physical gold and silver on the other hand...are hugely undervalued (due to massive naked-short-selling by the central banks in the paper markets....which is essentially counterfeiting)....and when the economic SHTF, they'll explode to unbelievable levels.

    So all is not necessarily lost, provided you have gold or silver in your possession.  A safety-deposit box at the bank is NOT in your possession....unless you happen to be the bank.  And paper gold is not gold, it's just paper.  But buy it quickly....because it's getting harder and harder to find any physical metal. (which explains why the price is so low....or maybe it doesn't?  lol)  More and more metals trades are "failing to clear", and settlement is being offered in cash instead.  Gee...what a deal, eh?

    Bitcoin's another option to look into for the preservation of your wealth, despite the ludicrous claims from the US that it's only used for money-laundering and buying drugs. (as if HSBC wasn't using US dollars to launder all that Mexican drug money....)

    Definitely doom and gloom, but also the cold, harsh reality of the Western world these days.

    I think what we're seeing with all the austerity protests in Europe is the villagers with the pitchforks and the torches starting to show up outside the castle walls.  When the French finally dust off the guillotines....it's definitely into endgame!

    On a positive note....at least Iceland got it right by telling the Troika to f**k off!

    And yes, I'm guilty of digression too.  But if it causes even one person to clue in to what's really going on....I'll consider that an acceptable digression.

    To go back on topic....lol....Canadians can finish the phrase, "I's a b'y...."

  • bypass07
    1,360 Posts
    Sun, Jun 2 2013 10:12 PM

    show me your birth certificate !!

    why ?  I'm Canadian

  • YankeeJim
    25,827 Posts
    Mon, Jun 3 2013 5:15 AM

    bypass07:

    show me your birth certificate !!

    why ?  I'm Canadian

    LMAO.  You can have him.  :-D

  • bypass07
    1,360 Posts
    Mon, Jun 3 2013 8:43 AM

    od 

    thanks YankeeJim - my first good laugh of the day !!

    i would offer to trade Mr. wonderful but you would get the better deal !!

    LMAO

  • bypass07
    1,360 Posts
    Mon, Jun 3 2013 8:51 AM

     tell you what YankeeJim - heres more than a fair Deal  you keep Donald Trump and we get a young Stevie Knicks

  • YankeeJim
    25,827 Posts
    Mon, Jun 3 2013 9:00 AM

    LMAO. I rather like Mr. Wonderful. He tells it like it is and is all about the money. That nudnik with that ridiculous comb-over is all about himself and firing people, though, and just screams obnoxious.  :-D 

    p.s., and take Amarosa with you but Piers stays, great instigator that he is.  ;-)

  • bypass07
    1,360 Posts
    Mon, Jun 3 2013 9:02 AM

     

    do you remember this ? all Canadians are taught this in high school. we burned the White house occupied Washington D.C. and drove the Americans out. This is also where you stole the USS Constitution from the British ! Manifest Destiny failed !!

  • YankeeJim
    25,827 Posts
    Mon, Jun 3 2013 9:20 AM

    bypass07:
    all Canadians are taught this in high school. we burned the White house occupied Washington D.C. and drove the Americans out.

    Heh. It takes an alien to do the White House in. We saw that in Independence Day. LOL

    On a somber note, I would have to say my all time favorite Canadian (not being a hockey fan worshipping at Don Cherry's altar) was Peter Jennings. Him, I miss.

     

RSS