I'm liquidating all my Canadian assets and getting the f out in the next 2 years hopefully. My question is to anyone doing this or at least having put thought into it is: what should I change my worthless CAD to until I establish myself elsewhere? I'm talking about sums >100k. Currency exchanges take huge cuts on every change from my experience and bullion can't be freely transported accross borders. I'm not comfortable holding large CAD sums for any amount of time because it's decomposing trash. Where I go will be mostly dependent on my work situation, but the eurozone seems probable. Any tips?
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Honestly, there isn't a single safe asset class right now. The entire world is printing money is record amounts.
...what? This is terrible advice. Asset classes are inflating alongside the money supply, more or less, and providing at least some protection against currency dilution. If you stay liquid then you lose, if you own an asset it at least somewhat tracks money supply.
Stock market performance over the past decade has very closely tracked fed printing. If you stayed in currency you would have seen huge erosion of buying power vs. being invested in at least some sort of assets.
I hear Bombardier stocks are too big to fail.
I agree with the risk of savings being seized. Can you imagine an NDP cabinet? They would surely seek to raid bank accounts and assets. Harper introduced a law before 2010 where any bullion trader has to record your info whenever you're buying or selling. I don't see any reason for this other than retroactively taxing or straight up confiscating from private owners. Imagine the easy unabashed rhetoric from gov and msm if they go for it.
lol, you don't think that the coin shortages and and cashless COVID test run had anything to do with some gay double nothingburger Flu, do you?
I'm selling my properties to gtfo so will have lots of cash on hand. I agree that bullion in these times is safe, but you can't just take it anywhere. Although legally I think you can take it out of Canada as long as you declare it, you have to pay taxes in the country which you're importing to.
lol you're doing exactly what you condemn: fleeing your country and running away like a bitch boomer.
lol if you're gonna go, just fuckin go: anyone with any sense did once we made it clear that we were on the Venezuela path.
That's why we have such a shit country: anyone with a brain or lick of sense or talent GTFOs!
lol a boomer portfolio gets the shakes and it's CASH THE FUCK OUT time! Unreal. Worse than the fake refugees imho, they should know better.
I don't condemn that. If you're living in a country going down the Venezuela path you're best to gtfo. Though for Canada I'm seeing a boiling frog scenario with ever steady increasing taxes and worsening quality and affordability of life rather than a sudden Venezuela scenario. I don't have the shakes, I'm just tired of short-selling myself to live in an environment I'm not happy with.
I'll just psychosomatically induce a white-flight sexual fetish to get me thru eating the sick livestock at Parc Safari or the fuckin fish outta the Toronto Aquarium stage!
Don't laugh, the Aquarium fish are way safer to eat than Lake Ontario swimming mutant mercury magnets.
I have to admit that white flight is a really pathetic phenomenon. Whatever specific factor you want to blame for it, it all boils down to fake, corrupt, globalist governments deliberately trashing the countries.
Takes a decent dude to say that, respect.
Only buy physical gold / silver, not the IOU's traded on the open market.
If a crash happens, there won't be enough physical gold available to cover the contracts.
Petrodollar's toast bud.
Thanks, great tip! You remind me that I had USD for my NYSE trading account and that the fees to transfer CAD to it were not outrageous. I would consider changing my money to USD after Trump wins 2020. If he loses, the USA and USD are royally fucked.
I know I'm not going to die in Canada. and that is unfortunate since my grandparents built a still successful company up here. It will probably be one of the last to go but yeah sadly I know my time here is limited
I'm a few years ahead of you on a similar path.
Still own a business and properties in Canada, but now live in Central America half the year (let me know if you want more detail on how I do that).....2020 has shown me that I want to be in Canada even less now, and hold way less $CAD.
I use Toronto based KnightsbridgeFX to convert CAD to USD when in larger amounts. I have a USD account at a Canadian bank I park money in until I need it.
I fear the same currency devaluation that you do. Not interested in investing any more money in Canada, other than MAYBE a decent investment RE deal that may cross my path.
If you are moving abroad.....MAKE SURE that the new country you choose to reside in does NOT tax your income earned outside the country.
I'm in my early 40's. My wife has never been happier since we started this endeavor in 2016, she doesn't want to come back to Canada at all.
Thank you very much for the tips. I will look into using KnightsbridgeFX.
"hopefully" hahahahahaahhahahahahahahahahahahghahahahahahahhahahahahahahhahahaha
gasp
jaaaahhhhhhhhhhhhhhhhhhhhahahgahahhahahahahhahahah!!!
GOLD, GUNS and BRICKS OF HEROIN!
You know, typical foundation/company-related activities!
I also endorse: Dogecoin(tm)!
Sorry dude not to make fun of you but I think the gold reserves being emptied was that kinda "last call" there bud, sorry.
I mean think of it like Bagdhad and the brick/cash warehouses, but we're Baghdad now.
I'll go for anything liquid or that I can transfer accross borders without being jailed or taxed up the ass. Maybe collector lego sets?
I know some dudes who rode the buttcoin wave like Biden breaking in a Toddler in a Tiara at the meth-fueld Comet Ping Ping afterparty with "THAT band", un fucking real: set for life, no shit.
shakes head
I'm not a gambling man but wish I was sometimes! But not often, really ha!
Glad I'm not a satanic pedophile people eating freak evil bastard too haha!
The world is just fuckin' sick, duders. :I
I almost bought 250$ worth of bitcoin back when they were worth ~1 cad each but gave up because the only way was through the honour system (I give you 5$ and hope you send the btc. Then next I give you 10$ and hope again and so on). There were no exchanges then. What I saw alot lately was everyone trying to ride the Cannabis wave and getting mostly fucked.
No more, or less than any other Canadian living here
I'm surprised that they haven't made derivative financial instruments backed on diversity or something stupidly funny like that, haha!
"Instead of backing our currency with labour or gold, we're using LOVE!"
Spez: Announcing the world's first global post national GBA+ compliant UN certified future of finance, today.
Introducing MemeCoin. The globe's first fractional reserve fiat currency backed by the purchasing power of memes. And it's CRYPTO!!!!
Buy a small farm and learn it or starve to death.
Got land and housing outside of the city and I'm selling it. Fuck canada. Fuck the climate, the food, the cost of living, the salaries, the taxes, the sub-standard services and the weakass dollar. I can grow potatoes anywhere in the world and it would be beat Canada on at least half the points I listed here.
please do not let the door hit you on the way out
Ok homo. I mean homie
I look forward to your next thread crying about shit you fragile faggot
you learn how to read yet faggot?