In this video, I talk 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!