Canadians Face MASSIVE Bankruptcies Following Interest Rate Hike! – What You NEED To Know

Josh Sigurdson talks with author and economic analyst John Sneisen about the staggering level of bankruptcies Canadians face in the next year as the Bank of Canada raises interest rates three times.
Out of desperation and in anticipation of a crash, the Bank of Canada is to raise interest rates three times in 2018. This is one more than 2017. However, this does not bode well for nearly half (48%) of Canadians who are about $200 away from bankruptcy. Pushing interest rates up any more will likely dramatically affect those people and could very likely be the breaking point.
Teaming the vast inflation, regulatory burdens and tax burdens the Canadian people face, this is dangerous.
All fiat currency eventually reverts to its intrinsic value of zero. It always has, it always will. This goes back to 1024 AD in China. This will persist as long as people continue to have faulty fate in fiat and government.
This is all happening as the Canadian government makes a “decision” on NAFTA and is due to meet in Davos, Switzerland at the World Economic Forum with countless globalists.
These interest rate hikes appear to be a desperate attempt to put off the inevitable fiat dollar crash. We’ve seen this many times throughout history. They don’t want to go into negative interest rate territory, but likely will all the same. While so many Canadians go through a euphoric phase where they believe the dollar is growing in value just because the US dollar is devaluing at a faster rate, and that employment is up just because the government hides the numbers with the labor force participation rate, many will be blindsided.
That’s why people must prepare! Self sustainability and financial responsibility are hallmarks of liberty and freedom itself. It’s better to over prepare than under prepare and there’s only so much time left. The fundamentals are off the table due to the level of manipulation in the monetary system (and markets), so you cannot put a date on the crash, but you know it’s going to happen, so isn’t it best if you have some form of nest egg to lean on rather than fall with the uneducated?

Spread the info and do whatever you can to decentralize and save yourself and your family!

Stay tuned for more from WAM!

Video edited by Josh Sigurdson

Josh Sigurdson
John Thore Stub Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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  • gary baker

    If people choose to live beyond their means and take out debt then they must take responsibility that things may go pear shaped…that risk is increased exponentially when the system is rigged and the government are a criminal cabal….maybe everyone in financial dire straights need to declare bankruptcy and start again ,painful in the short term but preferable to debt servitude ?

  • snippythehorse

    would a turnaround in the oil industry even to 100$ a bbl be much help to Candian economy at this point?
    How about other commodities such as foodstuffs, and metals etc…?
    What kind of turnaround will it take in actual value to bring Can. back to an economically sound position?
    i understand the debt will strrettttttch out to 2046, so how do we shorten this time span ?
    Any real answers applicable?

  • Lars Christiansen

    You are so right when it comes to taxes and regulation, it is there with one purpose only. Keep the people enslaved and to keep small businesses down. Only the corporations are able to manage the extreme regulations being put in place.


    So what do you think is going to happen?
    Really same old stuff just different day!
    The more things change. The more they remain the same.
    You can’t raise taxes nor can you cut services. Just going to keep muddling along.

  • russ burton

    carillion uk just went bankrupt causing mass snowplowing contracts to go in jeopardy. love you guys just locked in my mortgage rates in december before the hike Trudeau is a douche love your channel. people must have a spending problem? gold silver and bitcoin

  • Gerald Parker

    Trudeau may be difficult for us, but that Pernicious Puffin, Stevereeno Harpoon, was far worse. No Tory government to follow, PLEASE! Maybe Libertarian, maybe N.D.P., but NEVER, EVER “New” Tory!

  • Carol 70-year-old English populist

    It saddens me to see how far Canada has fallen to run with the globalist agenda!
    Trudeau should be imprisoned!

  • coolacadien

    YooHooo! I’m waiting for this crash for Sooo many years now. I wish the housing market goes down 75%. so that I can profit from this transfer of wealth. Bring it on!! flood the market of Repossess home, cars…

  • mcamcay

    RBC changed the limits of interac payments online – Desperate to keep the money in huh?…When i called and complained they said it is for the security of my funds…wahahahaha….lies,..lies lies,..

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