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  1. #10501
    Join Date
    Jan 2010
    Location
    your vacation
    Posts
    2,102
    Quote Originally Posted by Cono Este View Post
    I’ll go to my grave before I accept that people can keep living this fairy tail life of no money down mortgages. I absolutely hate the notion that as long as some sucker keeps buying, we all feel richer at the end of the month when our statements arrive. It’s so fake. In the interest of the charitable foundations, hospitals etc I hope I’m wrong, but I think the stock market is biggest con job in American history. People exchanging a lifetime of work for a stack of paper. Being sold shit they don’t even understand.


    l]
    exactly

    but nothing will change

  2. #10502
    Join Date
    Mar 2006
    Posts
    16,193
    Quote Originally Posted by Cono Este View Post
    People exchanging a lifetime of work for a stack of paper. Being sold shit they don’t even understand.
    Contracts are core to determining value. Our entire system is based on faith and credit . Although, life insurance and Annuities have always troubled me in that respect.

  3. #10503
    Join Date
    Sep 2011
    Posts
    624

    Is the stock market going to tank?

    Quote Originally Posted by swissiphic View Post
    Haven't been keeping track...any word on tax free RRSP withdrawels or anything like that? My personal titanic is sinking, probably gonna need the funds at some point.
    I heard they were considering some relief there Swiss- but I havenít seen any specifics - you may qualify for the $2000 - cerb credit.
    Here are some of the personal programs in BC:
    Attachment 323627

    Have you thought of building medical supplies? I could see you skill set being quite useful in these times. I foresee ventilators made of discarded milk crates and goggles.

  4. #10504
    Join Date
    Oct 2012
    Location
    Mount Cain
    Posts
    26
    Tank? Crazy, infinite growth is possible!


    Sent from my iPad using TGR Forums

  5. #10505
    Join Date
    Sep 2014
    Posts
    1,874
    Quote Originally Posted by LHutz Esq View Post
    I heard they were considering some relief there Swiss- but I haven’t seen any specifics - you may qualify for the $2000 - cerb credit.
    Here are some of the personal programs in BC:
    Attachment 323627

    Have you thought of building medical supplies? I could see you skill set being quite useful in these times. I foresee ventilators made of discarded milk crates and goggles.
    Thanks for that...the link didn't work but I assume you refer to the fed gov cerb program or the bc gov 1000 buck handout for cerb qualified folks?

    At this point, i'm in a gray area in terms of qualifying for the cerb. Hoping to get some clarification on things later today.

    As for fabricating stuff...yup, brainstorming has begun. ghettowerx grocery getter face mask: ski mask, masking tape, 3 layers of paper towel as a filter covering the mouth breathing hole. Why 3 layers? Dunno, just workin' with the 3 layer goretex m.o.

    As for a ventilator design....well...I have been staring at my vacuum cleaner for abnormally extended amounts of time trying to envisage how to modify it to suit the demands of ventilator duties.....that's as far as I've gotten with that.
    Attached Images Attached Images  
    Master of mediocrity.

  6. #10506
    Join Date
    Feb 2005
    Location
    North Vancouver/Whistler
    Posts
    11,775
    Swiss you def qualify for CERB. Guides do. You definitely do

  7. #10507
    Join Date
    Sep 2011
    Posts
    624

    Is the stock market going to tank?

    Canít get the uploader to work!

    Attachment 323654

    But yes you should qualify for Cerb. And rental assistance and a few others.

    If this doesnít work Iíll try to dm you.

  8. #10508
    Join Date
    Sep 2011
    Posts
    624

    Is the stock market going to tank?

    .

  9. #10509
    Join Date
    Sep 2014
    Posts
    1,874
    I might have missed it on this thread, but...Hey, what ever happened to the whole 'bail in' thing where our individual bank accounts get siphoned for funds to bolster the blood supply of bleeding banks? IIRC, wasn't that brought into legislation during/after the last financial crisis for times of if/then/when banks go bust? Just thinking if so....then; (if i have to) should I be withdrawing from my rrsp's straight into hard physical cash? On that note...what are the the signs we should be looking for in terms of leading indicators of the early beginnings of bank runs.
    Master of mediocrity.

  10. #10510
    Join Date
    Nov 2007
    Location
    Eburg
    Posts
    13,302
    Quote Originally Posted by swissiphic View Post
    I might have missed it on this thread, but...Hey, what ever happened to the whole 'bail in' thing where our individual bank accounts get siphoned for funds to bolster the blood supply of bleeding banks?
    AFAIK, bail-in was never more than a thought experiment discussion among academic nerds.

  11. #10511
    Join Date
    Sep 2014
    Posts
    1,874
    Well, I did find this for Canada...dunno what it all means in layman's terms but, kinda appears that the regular old bank accounts are safe?

    https://www.cdic.ca/what-happens-in-...bail-in-works/

    What is excluded?

    The following are not eligible for a bail-in conversion:


    • Deposits (including chequing accounts, savings accounts and term deposits such as GICs);
    • Secured liabilities (e.g., covered bonds);
    • Eligible financial contracts (e.g., derivatives); and
    • Most structured notes.4
    Master of mediocrity.

  12. #10512
    Join Date
    Mar 2008
    Location
    the ham
    Posts
    7,505
    @swissiphic, there won't be a run on Canadian banks. The big five are all amongst the safest, most conservative places to put your money.

  13. #10513
    Join Date
    Nov 2007
    Location
    Eburg
    Posts
    13,302
    Quote Originally Posted by swissiphic View Post
    Well, I did find this for Canada...dunno what it all means in layman's terms but, kinda appears that the regular old bank accounts are safe?

    https://www.cdic.ca/what-happens-in-...bail-in-works/

    What is excluded?

    The following are not eligible for a bail-in conversion:


    • Deposits (including chequing accounts, savings accounts and term deposits such as GICs);
    • Secured liabilities (e.g., covered bonds);
    • Eligible financial contracts (e.g., derivatives); and
    • Most structured notes.4
    Oh, okay, so what's left is some subset of institutional investors who bought paper from the bank, i.e., willingly took on the risk with expectations of a return? If so, that makes sense.
    Last edited by GeezerSteve; 04-04-2020 at 01:03 PM.

  14. #10514
    Join Date
    Sep 2011
    Posts
    624

  15. #10515
    Join Date
    Jan 2010
    Location
    2 hours from anything
    Posts
    8,179
    Quote Originally Posted by 4matic View Post
    SNAP fraud is less than 1% and I suspect fraudulent cash swaps get spent anyway.
    That stuff can be combated pretty easy now too as all retailers have to file. I actually know someone who built an algorithm to identify likely retailers who were swapping cash for vouchers.

  16. #10516
    Join Date
    May 2002
    Posts
    30,926
    Quote Originally Posted by LHutz Esq View Post
    Can’t get the uploader to work!

    Attachment 323654

    But yes you should qualify for Cerb. And rental assistance and a few others.

    If this doesn’t work I’ll try to dm you.
    Just do a right click 'copy image address'' then bracket that in [ img] [ /img] tags without those spaces I had to put in there to get the tags to show.

    Great......Canadian banks get bail-ins, US banks get bailouts.

  17. #10517
    Join Date
    Apr 2006
    Location
    Movin' On
    Posts
    2,378
    Talked to a buddy that runs a hedge fund that specializes in the energy sector. He has had a net short position on the US/Canadian oil industry for 16 months. He is absolutely crushing it right now.

    He said now that he has cashed in on his oil company shorts he's shorting the entire Canadian economy via ETFs. He thinks Canada is screwed.

  18. #10518
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    40,965
    We're all screwed. It's all about who's less screwed. Looks like China, long term.

    Let's do some livin'
    After, we die

  19. #10519
    Join Date
    Nov 2005
    Location
    Down In A Hole, Up in the Sky
    Posts
    27,206
    Quote Originally Posted by splat View Post
    Just do a right click 'copy image address'' then bracket that in [ img] [ /img] tags without those spaces I had to put in there to get the tags to show.

    .
    Doesn’t that only work if it’s hosted somewhere else (not an attachment?)
    I usually save the image, upload to Shutterfly, and then hotlink with [ IMG] [ /IMG] tags...
    Last edited by rideit; 04-04-2020 at 10:25 PM.
    Forum Cross Pollinator

  20. #10520
    Join Date
    Sep 2011
    Posts
    624
    Ya - was trying to post a screenshot of a fb post as our mad Swiss inventor doesnít seem to be the fb type!

    As for the Canadian economy - yep itís screwed much like every other economy. Luckily BC at least seems to be weathering the storm with leveling off infection rates (knock on wood) - without overwhelming the system. Ontario and Quebec were a bit behind us so hopefully they will level out there soon as well.

  21. #10521
    Join Date
    Oct 2005
    Location
    Tahoe-ish
    Posts
    822
    https://www.reddit.com/r/wallstreetb...m_source=share

    IDK if this link will work but it's worth a click for a quick laugh.

    Sent from my LG-US998 using TGR Forums mobile app
    ride bikes, climb, ski, travel, cook, work to fund former, repeat.

  22. #10522
    Join Date
    Apr 2006
    Location
    Movin' On
    Posts
    2,378
    The casino is paying out bonuses today!

  23. #10523
    Join Date
    Sep 2006
    Posts
    3,367
    It's almost like the market is thinking that people getting $1,200 checks or direct deposits are going to put it into the market instead of buying food and paying rent.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  24. #10524
    Join Date
    Dec 2002
    Location
    cow hampshire
    Posts
    5,057
    Quote Originally Posted by Toadman View Post
    It's almost like the market is thinking that people getting $1,200 checks or direct deposits are going to put it into the market instead of buying food and paying rent.
    What the fuck is going on? So fewer new cases reported yesterday than the day before means we're winning!

    Just met a sub-contractor in the woods this weekend and two houses he was working on the buyers both backed out. They're now spec houses. That's the type of shit that is going to start happening. All the jobs lost are not coming back

    I'm optimistic that we'll come back out of this, but the question is how long will it take.

  25. #10525
    Join Date
    Mar 2006
    Posts
    16,193
    Even if the dividend on SP500 is cut in half it still beats the 10y note. Still a lot of hedge rebalance going on. Remember that the reaction low coincided with the quarterly expiration so there is a lot of leverage to reconcile in the aftermath.

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