Any other Canadians buying bitcoin because there is no alternatives?
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Any other Canadians buying bitcoin because there is no alternatives?

Any other Canadians buying bitcoin because there is no alternatives?

Canadian home prices have 3x since 2006. In markets with jobs for young people houses have more than 5x in that time. Anytime asset prices in Canada are going to fall the Bank of Canada is ready to step in and lower the short term interest rate and purchase long term bonds to suppress the long term yield. Despite low unemployment, low inflation and a booming economy they wouldn’t even raise rates past 1.75% in 2018/2019.

This has been great for people born before 1990 as they can use their assets to get loans to purchase more assets while the debt is inflated away by the Bank of Canada. But unfortunately for people born after they have not had the same opportunity to enter the asset market because wages haven’t kept up with asset inflation let alone CPI.

The Bank of Canada has cheated an entire generation. They expect us to now spend 45% of our income on housing to give boomers a golden parachute to retirement. Even as rates rise they will just implement yield curve control to keep rates low.

I am done with this system, I refuse to play their game anymore. I’m all in on Bitcoin, they can feel free to devalue their currency to keep bailing out asset holders but I won’t be on the wrong side of that anymore.

submitted by /u/icbcrepair
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