Not only has the European Central Bank endeavored to issue negative interest rates, followed by Japan initiating the same, but now it looks like Canada wants to follow a similar path. There is a growing number of central banks that are looking to penalize deposits, and negative interest rates allow charges to be laid on cash that is being held in the bank. Bank of Canada governor, Stephen Poloz, has previously detailed new policies that he believes will boost the Canadian economy and among them was the initiative to seek negative interest rates.
There are a number of countries that are suffering with worsening economic problems, because central banks have layered these nations with trillions in debt. The U.S. economy might look strong to some, but that is only because it is propped up by credit. As financial expert Jim Rogers has said many times on the matter, “if you give me [$19 trillion] I'll show you a good time too.” There is always a price to be paid however, when it comes to manipulation within the market. And what the central banks have done by flooding the market with cheap money (QE 1,2,3 etc), will prompt unintended consequences. Negative interest rates aren't going to address or solve the underlying problems that exist within these artificial monetary systems, which are built around and rely solely on credit.
Debt levels around the world continue to climb and a number of financial experts continue to warn that we are due for a global financial crisis to arise. Some, who've been warning about this coming crash for decades, say that we might even see this global crash occur this year. The finger of blame is pointed at low oil prices, at china's manipulation in the market, at North Korea testing weapons, but never a finger pointed at the central banks and the counterfeit reality of fiat currency.
The Canadian loonie, like the U.S. dollar, has already lost over 90 per cent of its value, thanks to the self-destructive monetary policies that Canada continues to implement. Because of the seeming corruption surrounding the current monetary system in place, the Bank of Canada has been involved in an ongoing lawsuit against it for several years now.
If you do not use PayPal or credit cards you can still donate! We accept checks, money orders, cash and equipment. With good old fashion mail you can send Dan stuff to:
Mail to Dan Dicks:
505-8840 210th Street
Langley BC, V1M 2Y2