3 Currencies To Avoid

Taco · Post by **Taco** » October 23rd, 2013, 9:04 pm

Here's three currencies to avoid most people think are doing well.

3 Currencies To Avoid
http://www.sovereignman.com/finance/3-c ... gue-12935/

zacb · Post by **zacb** » October 23rd, 2013, 9:12 pm

I agree spot with the kroner. I never thought about Canada's reserve prior to that.

Taco · Post by **Taco** » October 24th, 2013, 5:01 am

The Bank of Canada has virtually no gold backing the Canadian dollar. Since 1980, Canada has sold 99.5% of it gold. Canada now has the 78th largest holding of gold of all countries. Countries such as Bolivia, Bangladesh, Cambodia and Macedonia have more gold than does the Bank of Canada. The Bank of Canada used to have 653 tonnes but today it only holds 3.4 tonnes. When the US dollar crashes Russian guys will be coming to Canada to find wives that's how poor the country will be.

C.J. · Post by **C.J.** » October 24th, 2013, 5:55 am

Taco, I'm gonna take a guess and then click the link... goooooo western currencies!

*clicks the link*

OMFG! What do I win!?

Seriously, you're better off chasing the philippine peso.

SilverEnergy · Post by **SilverEnergy** » October 24th, 2013, 10:28 am

There are no "good" currencies in the world, they're all going to collapse.

MrPeabody · Post by **MrPeabody** » October 24th, 2013, 11:16 am

I don't agree about Canada. During the 2008 financial crisis, the Canadian banks were the only ones that weren't in trouble due to their conservative lending practices. The panic was in the US and also spread to Europe who bought worthless paper from the Banksters. Read your history. And what does he mean by "capitalized"? The US FED is just backed by paper like all the other Central banks.

Taco · Post by **Taco** » October 24th, 2013, 3:15 pm

MrPeabody wrote:I don't agree about Canada. During the 2008 financial crisis, the Canadian banks were the only ones that weren't in trouble due to their conservative lending practices. The panic was in the US and also spread to Europe who bought worthless paper from the Banksters. Read your history. And what does he mean by "capitalized"? The US FED is just backed by paper like all the other Central banks.

There were no mortgage companies in Canada that went bankrupt in 2008 so it was not affected by US mortgage meltdown. However, Canada did sell its gold in the 1980's a fact most Canadians will find out the hard way.

MrPeabody · Post by **MrPeabody** » October 24th, 2013, 7:03 pm

That's because the Canadian regulators didn't permit it. The US Banksters put up fraudulent mortgage companies with mortgage officers trained over the weekend to churn out worthless subprime mortgages. The Canadian still seem to have some discipline in their financial system. The Wallstreet Shysters control the US government and there is no limit to their fraud. There is no currency now backed by gold, including the Swiss Franc, or am I missing something? The US dollar is toast once the Chinese create an alternative reserve currency or the petrodollar scam comes to an end. I don't think any paper currency is secure. I don't think this guy's analysis is correct singling out the Canadian dollar. He sounds like a marketer.

Tsar · Post by **Tsar** » October 24th, 2013, 8:30 pm

SilverEnergy wrote:There are no "good" currencies in the world, they're all going to collapse.

I agree. There will be a collapse of all fiat currencies. Some might collapse before others but every fiat currency eventually collapses. Gold and silver coins would retain their value in a currency collapse. They might not always have the same fiat denominated value but they will always have their value.