Free people need money in order to trade.
Holders of Canadian dollars have many risks;
- inflation due to the rapid expansion of the money supply erodes the purchasing power of the C$ daily
- possible bank runs / bank insolvency where only $100,000 is 'guaranteed' by the government, and where future bank bailouts may not make depositors whole.
- total financial collapse where bank bail ins are possible. 'Bail ins' means the government takes money OUT of your account. (It happened in Greece)
- Canadian government bonds have a triple threat; interest rate hikes drop bond prices, default risk because the federal government is broke, and the currency could have zero value once you cash out your bond.
- Hyperinflation is quite probable at some point. This is not 5% or 10% or 20% annual inflation. Hyperinflation is defined as inflation > 50% per month.
- Conversion into CBDC (Central Bank Digital Currencie) - the C$ could be converted into a CBDC at some point in the future. If this happens, it will no longer be 'money' at all.
A CBDC is not money because holders of such digital currencies do not have complete control of their own accounts. It is speculated that the central bank / government will have a back door into every citizens account. The selling point is that the central bank can inject digital dollars directly to you. The dark side however is that the central bank / government can switch off your account if you've misbehaved, deduct digital dollars for taxes ( #taxationistheft ), and control what you can spend money on.
A CBDC is an ideal monetary system for a slave, but not for a free human.
Free Humans living in the geographical territory currently known as Canada can choose several other forms of money. Free people can invest in these forms of money now.
I do not know which one of the following will become widely accepted as money in Canada. Maybe it will be some other currency / asset that i did not think of or that is not invented yet.
I have been accumulating as much of this as possible.
Critics of gold and silver should note that when the Canadian Frontier becomes free, there may be real banks with gold and silver on deposit and a digital currency backed by those metals that can be exchanged at the speed of light between free individuals.
Bitcoin was invented because we do not live in such a society and projects like e-gold could not be defended against authoritarians. Once we rid Canada of authoritarians, establish the rule of law, then we can once more have honest money.
Critics of Bitcoin, Bitcoin Cash, Monero and other cryptocurrencies should note that individuals who hold their own private keys for their crypto, can cross any border and take their money with them. No amount of men with guns can defeat math.
So these are the 5 currencies that I recommend investing in to hedge against the future and imminent destruction of the C$ and god willing, the federal government!
Note that I do not assume that we won't go through a period of deflation, where the C$ actually gains more purchasing power due to a severe credit contraction; bank failures. In this case one should have plenty of C$ to buy real world assets such as land, food, and whatever else you need.
https://www.bitcoin.com/
https://www.getmonero.org/
https://www.kitco.com/
Kitco is the best place to buy Gold and Silver bullion in Canada.