New Canadian bank “bail-in” regulations, which we regard as a stealth “bail-out” plan, came into effect in late September, almost without notice in the mainstream media.
As an increasing number of people realise that their home country is becoming a liability to them, the most common question I hear from them is, “What do I have to do to remain where I am and still be assured that I’ll be able to retain both my wealth and my freedom?”
Increasingly, both Europeans and North Americans whom I meet are expressing their concern that the social structure of their countries appears to be breaking down. Americans and Canadians speak of people of who, for making an off-handed comment that could possibly be interpreted as racist, can lose their livelihoods as a result. In the UK, it’s worse, with people being sentenced to prison for publicly denouncing rapes of children by Muslims in UK cities.
Here we have a standard credit card receipt from a coffee shop. The diner understands that he’s not obligated to order anything that he doesn’t want to receive, but that, for whatever he does order, he must pay the price on the menu.
In the 1930’s, the farm population in the US was nearly 25% of the total and it was quite common for farmers to borrow from the bank (using their farms as collateral) in the expectation that the proceeds from their annual crop would pay off the note each year.
Mike Maloney mentioned an economist he was studying as part of his research for a new book, so I ordered one of his books.The core message in this economist’s book pulls no punches: There is no escaping another debt-related crisis. And while he doesn’t specifically state the crisis will be worse than the Great Depression, the data he shares and conclusions he draws make that clear.
Real estate prices look to be topping out. Gold and silver prices are back at 2010 levels. As the relative pricing of these two assets reverses over the coming years, it will afford those with a meaningful holding of precious metals the opportunity to buy a house outright.
Periodically, I offer up a statement by Scottish Economist Alexander Tytler, who, in 1787, was reported to have commented on the then-new American Republic as follows: “A democracy is always temporary in nature; it simply cannot exist as a permanent form of government.
In the run-up to the 1929 crash, which heralded in the Great Depression, many pundits claimed that the new highs in the market signified that the business cycle had been “repealed.”
In 1971, the US went off the gold standard, which meant that it no longer had the responsibility to redeem its bank notes for real money – i.e., precious metals. It also meant that, as long as it could get people to accept the essentially worthless bank notes as currency, they could print as much as they liked. They took full advantage of this fact and transformed the US from the world’s greatest creditor nation into the world’s greatest debtor nation in under forty years.