Bank of Canada Drops their rate to .25%!

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Bank of Canada Drops their rate to .25%!

SASKFARMER's Avatar Mar 27, 2020 | 07:11 1 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. Reply With Quote
Mar 27, 2020 | 07:17 2
Quote Originally Posted by SASKFARMER View Post
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. Reply With Quote
Mar 27, 2020 | 07:23 3 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. ..
Last edited by bucket; Mar 27, 2020 at 07:28.
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  • SASKFARMER's Avatar Mar 27, 2020 | 07:38 4 our Canadian dollar is dropping and gold went up before stalling. Reply With Quote
    ajl
    Mar 27, 2020 | 07:43 5 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. Reply With Quote
    Mar 27, 2020 | 07:53 6 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. Reply With Quote
    Mar 27, 2020 | 08:00 7 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! Reply With Quote
    Mar 27, 2020 | 08:01 8
    Quote Originally Posted by SASKFARMER View Post
    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 . . . . Reply With Quote

  • Mar 27, 2020 | 08:04 9 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/cov...ysis-1.5510596

    Oh and the Dow had its best day since 1938, 3 days of up 20%. Now that's making money!
    Last edited by tweety; Mar 27, 2020 at 08:12.
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    biglentil's Avatar Mar 27, 2020 | 08:11 10 Western Canadian Select Crude now with a $5 a barrel handle. Reply With Quote
    SASKFARMER's Avatar Mar 27, 2020 | 08:18 11 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. Reply With Quote
    Mar 27, 2020 | 08:26 12
    Quote Originally Posted by errolanderson View Post
    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. Reply With Quote
    Mar 27, 2020 | 08:26 13 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!!! Reply With Quote
    Mar 27, 2020 | 10:43 14 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. Reply With Quote

  • Mar 27, 2020 | 10:48 15
    Quote Originally Posted by SASKFARMER View Post
    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. Reply With Quote
    Mar 27, 2020 | 11:02 16
    Quote Originally Posted by canolacrazy View Post
    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.
    I agree with you Reply With Quote

  • SASKFARMER's Avatar Mar 27, 2020 | 11:44 17 Trudeau today come up with a loan for buisness who can go in and get 40000 payable over two years back and the first 1/4 is forgiven. Interest rate prime.

    So all the farm groups who are so happy with cash advance waiving this $50.00 fee how smart are you guys at negotiations.

    Farmers get screwed again.

    How about FCC drop interest rate in the input loans to prime instead of what 6%.

    We’re not winning at this game weak leadership all way around.

    Oh fuel going up .07 cents next week and oil is 5 a barrel. Why because they can and will screw farmers. Reply With Quote
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  • fjlip's Avatar Mar 27, 2020 | 12:00 18 USA not scared to help farmers...The U.S. coronavirus stimulus bill would add $14 billion to the Agriculture Department's Commodity Credit Corp spending authority, and authorize another $9.5 billion for U.S. farmers hurt by the fast-spreading pandemic, according to a copy of the bill's text. should be $950,000,000 for Canadians at 10% of USA.

    https://finance.yahoo.com/news/u-cor...180814167.html Reply With Quote
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  • Mar 27, 2020 | 12:02 19
    Quote Originally Posted by SASKFARMER View Post
    our Canadian dollar is dropping and gold went up before stalling.


    Check Kitco all gold and silver sold out.
    Last edited by 6V53; Mar 27, 2020 at 12:07.
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    Mar 27, 2020 | 12:06 20
    Quote Originally Posted by SASKFARMER View Post
    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.


    22 shells are the new currency. Reply With Quote
    Mar 27, 2020 | 12:06 21
    Quote Originally Posted by SASKFARMER View Post
    Trudeau today come up with a loan for buisness who can go in and get 40000 payable over two years back and the first 1/4 is forgiven. Interest rate prime.

    So all the farm groups who are so happy with cash advance waiving this $50.00 fee how smart are you guys at negotiations.

    Farmers get screwed again.

    How about FCC drop interest rate in the input loans to prime instead of what 6%.

    We’re not winning at this game weak leadership all way around.

    Oh fuel going up .07 cents next week and oil is 5 a barrel. Why because they can and will screw farmers.

    We have absolutely phucking morons representing farmers...

    They should be screaming at their conservative MPs for not getting farmers the same deal.... Reply With Quote
  • 1 Like


  • Mar 27, 2020 | 12:28 22
    Quote Originally Posted by SASKFARMER View Post
    Trudeau today come up with a loan for buisness who can go in and get 40000 payable over two years back and the first 1/4 is forgiven. Interest rate prime.

    So all the farm groups who are so happy with cash advance waiving this $50.00 fee how smart are you guys at negotiations.

    Farmers get screwed again.

    How about FCC drop interest rate in the input loans to prime instead of what 6%.

    We’re not winning at this game weak leadership all way around.

    Oh fuel going up .07 cents next week and oil is 5 a barrel. Why because they can and will screw farmers.
    Round up increasing in price as well April 1
    All inputs look like increases . Reply With Quote
    Mar 27, 2020 | 12:37 23
    Quote Originally Posted by bucket View Post
    We have absolutely phucking morons representing farmers...

    They should be screaming at their conservative MPs for not getting farmers the same deal....
    Get another loan,
    Negotiate a loan payment holiday,
    Or burn equity. Reply With Quote
  • 1 Like


  • Mar 27, 2020 | 12:39 24
    Quote Originally Posted by furrowtickler View Post
    Round up increasing in price as well April 1
    All inputs look like increases .
    No surprise there Reply With Quote
    Mar 27, 2020 | 12:51 25 So if the bank of Canada lowers it's interest rate but the banks do not lower their rates what benefit is it to the consumer?! Reply With Quote

  • Partners's Avatar Mar 27, 2020 | 13:47 26 Rates going down at the bank.
    Spend.. spend..incase you survive this shit..
    Some at 3.7% today.. Reply With Quote
    Mar 27, 2020 | 13:51 27
    Quote Originally Posted by Hamloc View Post
    So if the bank of Canada lowers it's interest rate but the banks do not lower their rates what benefit is it to the consumer?!
    One way of looking at that, Is It might keep the banks from failing , And needing a bail in with our savings. At least this way you might still have access to your bank account and credit to put a crop in.

    Not saying it is the right approach What it looks like is that everyone is going to need saving, this is just the first priority, since without that we will all resort to guns and ammunition in a matter of hours.
    Last edited by AlbertaFarmer5; Mar 27, 2020 at 14:18.
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    Mar 27, 2020 | 13:55 28
    Quote Originally Posted by AlbertaFarmer5 View Post
    One way of looking at that, Is It might keep the banks from feeling , And needing a bail in with our savings. At least this way you might still have access to your bank account and credit to put a crop in.

    Not saying it is the right approach What it looks like everyone is going to need saving.
    And what happened to those billions in bank profits? Reply With Quote
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  • SASKFARMER's Avatar Mar 27, 2020 | 14:37 29 So what deal did skippy and company give the banks. Is he deep down letting non equity mortgages to be written off by the banks.

    Was all the speculation in land linked to this. $650000 for Regina crap is this going to be written down to $350000 just to make it work. So who really got a benifit the guy slow and steady or the BTC. Reply With Quote
    Mar 27, 2020 | 16:41 30
    Quote Originally Posted by 6V53 View Post
    Check Kitco all gold and silver sold out.
    Also check the premium, spot price means little. Huge premium and you still can’t get delivery, mints are closed and closing. Mines are closed and closing. Physical is sold to strong hands and likely to be hard to pry loose. Reply With Quote