Questions from Eastern Canada

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nex_s's picture
Status: Member (Offline)
Joined: Jul 30 2010
Posts: 17
Questions from Eastern Canada


 Hi Everyone,

  I'll post this in the hope of getting some information on the Canadian situation and the future of our economy.  I have no doubt when the U.S. enonomy goes into a tailspin no country will be spared.  We live in a global enonomy of which the U.S. is the biggest player, by far.  It's like a team losing their star player, captain, coach, and sponser, sure we can still put forward some effort but not much concerted effort.  I started on this road reading about peak oil and then found out about Mike Ruppert, Richard Heinberg, Dr. Albert A. Bartlett, Matthew Simmons, Collin Campbell, David Hughes(Can.) ,Chris Martenson, and the list continues.  I've put hours upon hours in watching videos, reading blogs, and while doing this I've always kept an open mind and as I learned in my university days, consider the source.

  Watching Chris' Crash Course and other videos that explain how the Fed robs people of their savings and punishes savers and how world banks and big business manipulate the markets not only leaves you feeling used but frustrated and angry as when one watches videos of the assasination fo JFK or the dismantleing of the Avro Arrow.  You always knew there was some level of corruption not so calulcated and widespread.

 I live in Eastern Canada in the province of Prince Edward Island.  A good deal of our economy is based on tourism, fishing and farming.  As a side note during the last Great Depression we did go without many things but most people could still afford the basics of food and shelter.  In fact many Islanders who went to the bigger cities for work ended up returnig since life there was more brutal.

  My questions are these:

  Since we still rely on farming and fishing do you belive we will weather the economic storm better than others?

    I've heard from many people that the first thing to do is get out of debt and second buy gold.  The only debit my family and I have is our mortgage but would you suggest I focus only on paying that down or pay it down a bit and buy some gold as well?

  If one was to buy gold and the price goes up and the dollar loses it's value would it be logical to think that a mortgage could conceiveably be paid off with a few ounces of gold?  Provided I have a fixed rate mortgage the bank can't increase the rate of interest to compensate for the loss of dollar value can they?

I currently have a company pension that I can't get at until retirement age.  Would you suspect it'll be fairly worthless when the economy crashes since our pension manager invests our money into stocks and bonds which I assume will lose value?

Thanks for your responses,




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