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Josh Sigurdson talks with author and economic analyst John Sneisen about the staggering level of bankruptcies Canadians face in the next year as the Bank of Canada raises interest rates three times.
Out of desperation and in anticipation of a crash, the Bank of Canada is to raise interest rates three times in 2018. This is one more than 2017. However, this does not bode well for nearly half (48%) of Canadians who are about $200 away from bankruptcy. Pushing interest rates up any more will likely dramatically affect those people and could very likely be the breaking point.
Teaming the vast inflation, regulatory burdens and tax burdens the Canadian people face, this is dangerous.
All fiat currency eventually reverts to its intrinsic value of zero. It always has, it always will. This goes back to 1024 AD in China. This will persist as long as people continue to have faulty fate in fiat and government.
This is all happening as the Canadian government makes a "decision" on NAFTA and is due to meet in Davos, Switzerland at the World Economic Forum with countless globalists.
These interest rate hikes appear to be a desperate attempt to put off the inevitable fiat dollar crash. We've seen this many times throughout history. They don't want to go into negative interest rate territory, but likely will all the same. While so many Canadians go through a euphoric phase where they believe the dollar is growing in value just because the US dollar is devaluing at a faster rate, and that employment is up just because the government hides the numbers with the labor force participation rate, many will be blindsided.
That's why people must prepare! Self sustainability and financial responsibility are hallmarks of liberty and freedom itself. It's better to over prepare than under prepare and there's only so much time left. The fundamentals are off the table due to the level of manipulation in the monetary system (and markets), so you cannot put a date on the crash, but you know it's going to happen, so isn't it best if you have some form of nest egg to lean on rather than fall with the uneducated?
Spread the info and do whatever you can to decentralize and save yourself and your family!
Stay tuned for more from WAM!
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Knowledge is power. Thank-you for staying so well informed!
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Happy to do it Leigh! Thanks :)
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If Canada falls into recession, many other countries, including the US, will follow!
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Great content as usual, Josh. Great to see you earning on Dtube. Stay the course brother, we will all prosper by helping free the people.
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free the people!
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The economic system itself is not based on anything at all, fuck fiat! Stay active, be prepared!
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Another clear reason of how the economies controlled by governments and banking entities will lead many countries to destruction, we have to focus more on cryptocurrencies every time I see things like these I affirm that cryptocurrencies substitute the money that we normally use nowadays. There is no better invention than this to be decentralized can take its own course only ourselves with the supply and demand we will give its real price. More governments should focus on cryptocurrencies and adopt the future that is already in our hands.
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John here. You should check out the book that I wrote in 2014 where I predicted the fall and hyperinflation of Venezuela. The book goes into great detail about the history of money and some light economics to understand the insanity in this world. The End of Freedom: How Our Monetary System Enslaves Us. https://www.amazon.com/End-Freedom-Monetary-prepperss-surviving-ebook/dp/B016SECTSW
Stay safe!
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This is true
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The Fed in the USA raised the interest rate 0.25% three times last year. From what I understand they're looking at doing it again three more times in 2018.
What are you doing personally to prepare for the hard times you're predicting?
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Just become self-sufficient :) As Josh always repeat. Food, Water, Shelter, Guns and Precious Metals :) This is John S.
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yup
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@themanwithnoname, We study and teach permaculture and foraging so that others might also be ready for whatever happens wherever they are.
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Wow, I'm so happy to see content like yours getting out the truth, and I'm happy to be able to support your channel with my upvote! Keep up the great work and God bless!
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"It's better to over prepare than under prepare and there's only so much time left."- no truer words. I live by those words.
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if this is the case they should simply bring down the interest rate
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It is the prize of bad doings by Canadians.
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Canadians dont have bad doings
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Although I reside in the U.S., the impact of rising interest rates is universal. Great article!
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Its a great informative post..thanks for sharing...keep it up..and god bless u dear
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So is this bullish or bearish for my Canadian weed stocks?
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WTF so they wanna ban the solution (Crypto) everywhere because every fiat currency is LESS than toilet paper.
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The answer is simply invest in cryptocurrencies mining as long as it's there, low investment capital, low risk and maximized returns. You in your account and the money in it, not a bank and no authority can block it, until now.. at least.
Let me know if you're interested to show you where exactly to invest and how much to start with?
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Anybody has any idea why after the latest update #Dtube is showing tiny thumbnails in the steemit posts? It's showing normal size thumbnails when embedding it in WordPress posts like this:
http://www.syrianews.cc/oldest-jewish-synagogue-world-looted-fsa/
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This will only drive people closer to Bitcoin and other cryptographic assets. The exodus from the system will really pick up this year.
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Exactly my thoughts.
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I am newbie here nothing i get on posts with out a bot using :( your help will make me start a good life @thejohalfiles
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thx
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i am always saw your dtube video present time now your dtube video watch running
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great news @joshsigurdson. this will be a great shocker and will cause a great deal of chaos around the globe. and yes, it's better to be over prepared rather than under prepared.
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Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @thejohalfiles valued at 275.57 SBD, based on the pending payout at the time the data was extracted.
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lucky post
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Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @thejohalfiles valued at 275.57 SBD, based on the pending payout at the time the data was extracted.
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Congratulations @joshsigurdson, this post is the second most rewarded post (based on pending payouts) in the last 12 hours written by a Hero account holder (accounts that hold between 10 and 100 Mega Vests). The total number of posts by Hero account holders during this period was 405 and the total pending payments to posts in this category was $12704.52. To see the full list of highest paid posts across all accounts categories, click here.
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keep a stocked pantry (pastas, beans, rice, spam), shop at 99cents store and goodwill while you buy metals and oil
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very impression your post, I really like, I want to like you what is its secret?
if you wish please visit my blog, i need your support .thank you https://steemit.com/@muliadi
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This IS Not Only Happening In Canada, This IS Worldwide As Josh Said. I Live In Turkey And since We Got Into 2018 Things Started To Go Further The Down Hill........
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a beautiful presentation thamk you🤗🤗🤗😀
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Keep working, stop paying.
Then, all that is academic.
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True knowlegde you bestowed to us
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Great reporting as usual.
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It amazes me how everything happening with the economy goes against basic principles that an 8 year old would understand. The government clearly understand that a large perecentage of the population don't know better and they will go in enormous debt if you offer them that possibility. It's kinda like one big ponzi scheme being run by our own government.
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they want to cause pain and suffering because they need to keep the status quo
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I really like the good and informative content you provide. Keep the good work up!
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YA ITS NOT GOOD TO HIKE BUT BANKS HAVE TO INCREASE RATES
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in india we pay 13-15% pa average interest rates, be it on personal or housing or business. im sure its cheaper there still..
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I pooped today. It was so fun.
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This is all by design. The Serpents want every country and person bankrupt.
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Getting prepared are very important... thanks for the share up...
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This is great idea
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Upvoted and followed.
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Great content- very informative
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rockon liberty all the way
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Great post keep it up beautifully but can you give me money Hahahahaha 😂
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Thanks for sharing!!
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Well no son good news for Canadians; but, I believe that the government must take measures that soften this tendency. Greetings.
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But media says CRYPTO is the issue....
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Congratulations @joshsigurdson!
Your post was mentioned in the hit parade in the following category:
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Knowledge is power. Thank you for staying so well informed 🙋♀️
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I invite you to see my video... Please make my dreams come true....
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Bank of Canada just increased rebate recently by 0.25%. Will the hike be passed down to consumers by the bike banks? Why should consumers, especially the middle class, bear the brunt of most, if not all, economic downturn or disasters caused directly or indirectly by policies of idiotic politicians who may not be businessmen, ceo or have an iota of common sense?
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thanks for such a informative video
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i hope america dont have anything like this or if anything , no time soon
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Interest Hike = value of house drop
i'm looking to buy a house and i see house take 6 to 9 month to sell if they sell
so many foreclosure to come
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There's an undercurrent of thought in all these decisions made that many citizens don't understand. Our governments have come to consider the citizen as a financial asset. Government leverages these many assets to fill empty treasuries and print paper to create the illusion of wealth. You as a productive citizen are being measured by the value you will produce over your lifespan, and this worth is being leveraged to allow for more State debt. This also leads to treating more promising citizens with privilege, and pushing for controlling repopulation of the weaker and less productive. Government has lost touch with the fundamental valuation of a citizen - hence our invigorated push for localized government and personal freedom. Good luck to you all as you seek financial independence. Use the regulated system but don't be controlled by it, and avoid debt at any cost!
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agreed
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