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03-04-2016, 10:11 AM
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Join Date: Oct 2010
Location: central Alberta
Posts: 12,629
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Canada is selling off our nest eggs
Now we have no oil or gold... Makes me think Canada is in decline.
In the 1960's Canada had 1000 tonnes of gold in reserve. Now we have 77 ounces.
Pretty sad when a 21 year old miner on TV has more gold than a country.
Is Parker Schnabel on Goldrush going to replenish the gold?
http://globalnews.ca/news/2557900/ca.../?sf21979830=1
Iron Maidens "Run to the Hills" song might have more meaning soon.
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This country was started by voyagers whose young lives were swept away by the currents of the rivers for ten cents a day... just for the vanity of the European's beaver hats. ~ Red Bullets
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It is when you walk alone in nature that you discover your strengths and weaknesses. ~ Red Bullets
Last edited by Red Bullets; 03-04-2016 at 10:28 AM.
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03-04-2016, 10:19 AM
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Banned
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Join Date: Mar 2016
Location: Edm
Posts: 69
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how else are they going to fund their annual raises?
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03-04-2016, 10:24 AM
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Join Date: May 2015
Posts: 1,414
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Up until the late 60's we had billions in gold reserves. Then Trudeau senior came to power and Canada has never recovered from his idiocy
Quote:
Originally Posted by Red Bullets
Now we have no oil or gold... Makes me think Canada is in decline.
In the 1960's Canada had 1000 tonnes of gold. Now we have 77 ounces.
Pretty sad when a 21 year old miner on TV has more gold than a country.
Is Parker Schnabel on Goldrush going to replenish the gold?
http://globalnews.ca/news/2557900/ca.../?sf21979830=1
Iron Maidens "Run to the Hills" song might have more meaning soon. |
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03-04-2016, 10:55 AM
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Join Date: May 2007
Location: Calgary
Posts: 2,008
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We've got plenty of gold in the ground boys, don't panick.
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03-04-2016, 12:12 PM
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Join Date: Jan 2012
Posts: 2,443
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Quote:
Originally Posted by winged1
We've got plenty of gold in the ground boys, don't panick.
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But the cost of extraction is probably more than the current market value,
and any new mine will need years of environmental and other assessments and permitting,
to say nothing about raising or borrowing the capital costs of development.
In our current deficit happy fiscal policy, the only way the GoC could rebuild our gold reserves would be to borrow the money to purchase it from the current owners which are predominantly Russia, China and Rothschild.
Good Luck, YMMV.
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03-04-2016, 12:14 PM
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Join Date: Jan 2015
Posts: 497
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Who cares if we don't have gold reserves. What's gold sitting in a cave gonna do. Might as well pay down our deficits
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03-04-2016, 01:02 PM
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Banned
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Join Date: Sep 2015
Posts: 263
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Quote:
Originally Posted by I_forget
Who cares if we don't have gold reserves. What's gold sitting in a cave gonna do. Might as well pay down our deficits
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Pay down our deficits with what?
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03-04-2016, 01:08 PM
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Join Date: Jan 2015
Posts: 497
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Quote:
Originally Posted by Domestique
Pay down our deficits with what?
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hmmm that's a real head-scratcher. Perhaps re read the thread
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03-04-2016, 01:13 PM
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Join Date: May 2007
Location: Uh, guess? :)
Posts: 26,739
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Currency is no longer backed by gold. Might as well fret about the Federal Government no longer having a supply of whale oil.
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Quote:
Originally Posted by DevilsAdvocate
In this case Oki has cut to to the exact heart of the matter!
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03-04-2016, 01:21 PM
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Join Date: Jan 2014
Posts: 954
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Quote:
Originally Posted by Okotokian
Currency is no longer backed by gold. Might as well fret about the Federal Government no longer having a supply of whale oil.
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That's such a Trudeau move, selling all of our whale oil too. Lol
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03-04-2016, 01:22 PM
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Join Date: May 2007
Location: Uh, guess? :)
Posts: 26,739
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Quote:
Originally Posted by HighlandHeart
That's such a Trudeau move, selling all of our whale oil too. Lol
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LOL 
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Quote:
Originally Posted by DevilsAdvocate
In this case Oki has cut to to the exact heart of the matter!
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03-04-2016, 02:20 PM
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Join Date: Jul 2013
Posts: 1,048
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read up on that, the sell off was going steadily since 90s... The reasoning is - there are better investment opportunities. Long before currency was was backed up with gold, now - ...
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03-04-2016, 03:11 PM
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Join Date: May 2007
Location: Calgary
Posts: 2,008
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Quote:
Originally Posted by qwert
But the cost of extraction is probably more than the current market value,
and any new mine will need years of environmental and other assessments and permitting,
to say nothing about raising or borrowing the capital costs of development.
In our current deficit happy fiscal policy, the only way the GoC could rebuild our gold reserves would be to borrow the money to purchase it from the current owners which are predominantly Russia, China and Rothschild.
Good Luck, YMMV.
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I know it's hard for Albertans to conceive that if it's not exploited today, that it still has value tomorrow, and potentially greater future value.
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03-04-2016, 03:51 PM
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Banned
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Join Date: Jan 2010
Location: Kimberley B.C.
Posts: 5,234
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Quote:
Originally Posted by winged1
I know it's hard for Albertans to conceive that if it's not exploited today, that it still has value tomorrow, and potentially greater future value.
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Hee Hee Hee
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