>Canada has used up all of its gold reserves. For the first time since 1935 the country is out of gold.
>The volume of gold reserves in Canada has declined steadily over the past 50 years. In the mid-1960s, Canada’s gold reserves exceeded 1,000 tons. By 1985, half had been sold. In 2015, the reserves were down to three tons and now the country has no gold left.
>According to Finance Department data, Canada sold 41,106 ounces of gold coins in December and another 32,860 ounces of gold coins in January. The remaining 21,929 ounces were sold in February.
https://www.rt.com/business/334498-canada-gold-reserves-economy/
Discuss.
>>66191389
Why are you posting pics of me?
>>66191389
RIP Canada. I always wanted to move there but it seems you all can't seem to elect a sensible leader as your country. Sucks to be a Canadaboo at this generation.
>>66191389
That's... literally me!
>>66191389
SELL GOLD
BUY WEED
>>66191389
>this kills the leaf
>>66191389
Why does a country need gold if the currency is not tied to gold?
At least we aren't Florida.
What a shitty state.
Also fuck you Commiefornia. You are also a shitty state.
>>66192351
Because if the currency collapses, there is still gold to trade with, or pay off debt before defaulting.
It's a drop on a hot plate for all the good it would do this day and age, though.
>>66192715
>Because if the currency collapses
Isn't that the reason the countries have forex assets?
>>66192639
at least im not a FUCKING LEAF
>>66192797
>deleverage my fiat with other peoples fiat
The guys point is that if the house of cards that is the current financial monetary system collapses, without any real hard asset behind things there is nothing that can be done.
ggnore leafs
>muh shiny metal
>>66192936
Luigi, please...
>>66192351
>says smaug
But the friendly merchant told me it would be good to spend everything, the merchant wouldn't lie would he?
>>66192893
But once the whole financial monetary system collapses, do you think gold will really save anything?
>>66192893
Well, there is.
Selling land and rights to resources.
I doubt any Canadian is going to be pleased to learn there's a part of Canada that is suddenly sovereign Chinese land, though.
DUDE PASS THE BONG
>>66193102
Yes, because people will always trade for what they lack, and humans being humans, they're going to fall back to whatever system used to work.
>>66193102
Well what else will? When the monetary system collapses, how will we trade? After a short time of goods vs goods, were gonna need a currency. How long do think it'll take till there is trust in a new fiat currency? Precious metals just seem logical
>>66191389
DELETE THIS PICTURE OF ME!
>>66193284
If the monteray system collapsed it would result in a civil war, looting and trading goods vs goods
When governments start selling their gold reserves they are usually scrapping the bottom of the barrel. It tends to mean that Gold is nearing a bottom too.
I'd hold off buying Gold until $800-$900.
Say what you will about Gold, but it's a tradeable, high value commodity that doesn't break down.
>>66193284
>>66193450
You faggots live in Switzerland. If the world monetary system collapses, people are going to pile into the Swiss Franc so fast it will make your head spin.
>not realizing that the Swiss Franc until recently still had a link to gold
>>66193450
Lol, and that will be an endless state of civil war of which the world will never recover. And when it does, it will go from 0 - 100, skipping every step and going directly to digital fiat currency. Also, what makes you think parties in a civil war dont buy equipment with gold?
>>66192351
"sell all your gold you don't need that anymore goyim"
fucking swiss jew
So, where did all the gold go?
>>66193507
>Until recently
That's your problem. Swiss frank is a security because switzerland is so stable. If the worlds banking system collapses, the swiss economy is as fucked as every other
>he still chases the fiat-jew
kek
>>66193635
Because in a civil war you don't need gold, you will exchange things which you don't need with things you need (e.g. lighters with batteries or what ever)
>>66193507
Our currency is already tied to the Euro. Once the Euro crashes the Swiss Franc will too. We are buying billions of Euros to keep our currency low. Switzerland has 20% of its asset in gold and the majority of Swiss people are not interested to increase that
>>66193899
Is that why civil war parties in africa use diamonds and gold to finance their war? Cause they have no economy and cant even grow and sell drugs? Gold is a war currency
>>66193870
Gold is the opposite of fiat britcuck
>>66193899
The swiss frank is not tied to the euro anymore
Fortunately they have been investing in oil instead. Trust me, oil is the new gold, the prices will NEVER drop.
>>66191389
>https://www.rt.com
>>66194036
They use diamons and gold to trade with people from other countries because their system still works. But here we are talking what if the whole monetary system would collapse.
>>66194084
Are you retarded? It's not tied to a "Mindestkurs" but it's still tied to the Euro. Or do you think the Swiss National bank buys billions of Euros because it's such a good investement?
>>66194083
where did I say gold you dense Amerilard?
>>66193150
Please don't remind me that we've already done this.
Look into the tar sands in the west, the mines around the Canadian shield, or Vancouver as a city.
>>66191389
Gold is literally useless its only a good semiconductor for plugs and circuit boards
Same goes for diamonds what idiot in the 21st century puts value into these things?
>>66194387
So this civil war will bring about endless anarchy of which we'll never recover. How does the world economy restart? I dont have to explain to you the value of having a currency and not having to trade goods.
Also, sure ok, the swiss frank is "tied" to the euro. But its more like, our export industry is tied to a high euro course so we can export cheaply. The SNB has apparently more say over the euro course than the EZB
>>66194532
What do you suggest to use? Uranium?
>>66191389
Free weed aint free nigga
Who the fuck is a "Canada" and why is he/she so bad at spending?
>>66194839
Gold might be used again for trading in a certain period. But it doesn't make any difference if the state or a private person owned the gold before, because after world wide civil war the state wouldn't exist anymore.
>>66192639
Unlike you, I can be proud of the bear on my flag.
>>66194861
Yes.
>>66192351
Oy veyyyyy, Mountain Jew!
>>66191389
>used up
They sold them. Trudeau was an Israeli globalist agent. Canada is fucking ruined and won't be able to participate when ww3 comes around. Everything is falling into place, Greater Israel soon. They will commit atrocities and none will be able to retaliate for they'll all be facing crisis at home.
Exile that traitor while you still have a chance, in one way or another.
