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Email this5:31 pm
August 14, 2023
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Interesting article from G&M .
Titled : Alberta credit union flaunts mistrust of banking system as regulators crack down on gold holdings
What do you think,
TINA
Trader first, Saver second
7:22 pm
January 12, 2019
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.
Meh 
I'll just leave this here ➡ https://www.ctvnews.ca/sci-tech/explaining-how-human-brains-are-predisposed-to-believe-conspiracy-theories-and-political-lies-1.6488054
'Careful What You Wish For'
- Dean
" Live Long, Healthy ... And Prosper! "
8:49 pm
April 14, 2021
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TINAisOver said
What do you think,
TINA
I think that it is pointless to present a link to an article that is hidden behind a paywall.
Either quote the relevant points or don't bother, IMO.
9:04 pm
November 21, 2022
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HermanH said
I think that it is pointless to present a link to an article that is hidden behind a paywall.Either quote the relevant points or don't bother, IMO.
Here is a fix for you HermanH: https://archive.ph/Mmms6
Pirithous
"Sometimes I do what I want to do. The rest of the time, I do what I have to."
9:10 pm
November 21, 2022
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As for the article itself: "Mr. Oland, the credit union’s president and chief executive officer," sounds more like a conspiracy-peddling, ponzi-scheming, snake oil salesman than a serious financial industry player.
Tagging along with Take Back Alberta and "similar right-leaning groups across the province, in a bid to expand BVCU" while seeing the federal government as the boogeyman for any and all ills in this country doesn't paint you in a serious light in my worldview ("It [BVCU] deeply distrusts the federal government, on everything from privacy to public health,"; "BVCU has a catastrophic fear of inflation, juiced by what Mr. Oland and others consider gross mismanagement of the country under Prime Minister Justin Trudeau. It buys gold and silver as a hedge.").
I'll give him props for being a great salesman, but I wouldn't be parking any of my money with his outfit.
Alas, suum cuique.
Pirithous
"Sometimes I do what I want to do. The rest of the time, I do what I have to."
10:29 pm
April 14, 2021
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Many thanks for providing access to the article.
I don't care what his politics are; I would buy some GICs from him, if BVCU had attractive rates. Alas, they are not competitive.
4:28 am
August 14, 2023
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HermanH said
I think that it is pointless to present a link to an article that is hidden behind a paywall.Either quote the relevant points or don't bother, IMO.
Agreed, my apologies.
This was unattended. As a G&M subscriber , I have the right to share 3 articles per month including sharing on social media sites. although I have shared articles before, this was my first use of their copy link tool for mass share.
I will attempt to resolve this issue for future link access.
Trader first, Saver second
5:05 am
August 14, 2023
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Pirithous said
Here is a fix for you HermanH: https://archive.ph/Mmms6
Thanks Pirithous for the alternative link work around, well done.
I question the use of gold, silver a sound financial practice as a backstop for a credit union. Mr. Oland seems to be determined to continue this strategy. What he wants is to have deposit insurance backed by Alberta Gov. and Gold as additional insurance. It's one or the other, not both. Mr. Oland needs to make a decision what kind of FI he runs or Alberta Gov make that decision for him sooner than later.
Trader first, Saver second
5:08 am
March 30, 2017
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If I want to speculate in gold and silver, I will do it myself. A CU CEO is simply not qualified to do that nor what he sb doing. He will never get my money either way.
6:56 am
February 7, 2019
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savemoresaveoften said
If I want to speculate in gold and silver, I will do it myself. A CU CEO is simply not qualified to do that nor what he sb doing. He will never get my money either way.
"sb" ?
| CGO |
8:09 am
April 6, 2013
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TINAisOver said
I question the use of gold, silver a sound financial practice as a backstop for a credit union. Mr. Oland seems to be determined to continue this strategy.
…
It is actually a stupid thing to do. One does not backstop liabilities with mismatched assets. One is speculating by using mismatched assets.
If the credit union deposit liabilities are in Canadian dollars, then one matches with assets in Canadian dollars, not with assets in Swiss francs, euros, gold, or silver.
What would happen if the price of gold or silver in Canadian dollars were to decline?
Smarter people running a financial institution, like those at BMO InvestorLine, would offer gold deposits or certificates. Such deposit liabilities would be ounces of gold matched with physical gold in a vault.
8:54 am
November 3, 2022
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I'm surprised that BVCU is not also buying cryptocurrency as a hedge against the "inevitable" collapse of fiat currency. Surely there is room for Dogecoin in their collapsitarian monetary strategy?
9:38 am
November 6, 2018
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cgouimet said
"sb" ?
= should be
10:07 am
January 12, 2019
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Pirithous said
As for the article itself: "Mr. Oland, the credit union’s president and chief executive officer," sounds more like a conspiracy-peddling, ponzi-scheming, snake oil salesman than a serious financial industry player.
. . .
He even Looks the part . . . https://www.theglobeandmail.com/resizer/v2/22RIIUF7NNGJ3P4YDRSKQWOLIQ.JPG?auth=5513f519bdd26060c441f67dd236f8540307b920a5fecd6135504e9f36e254a1&width=600&quality=80
And sadly, there's a small element in our society that will Feed right into his Dribble. Hence the linked CTV News article in Post #2.
- Dean
" Live Long, Healthy ... And Prosper! "
10:11 am
October 27, 2013
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HermanH said
I don't care what his politics are; I would buy some GICs from him, if BVCU had attractive rates. Alas, they are not competitive.
You may find that Alberta's CUDGC may ultimately cancel their membership since BVCU appears to be in violation of Alberta's credit union legislation. The deposit guarantee would then be gone. The rest of AB's credit unions and their members should not be backstopping nut jobs.
11:50 am
February 7, 2019
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BillieBob said
= should be
🙂
| CGO |
12:17 pm
April 14, 2021
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TINAisOver said
What he wants is to have deposit insurance backed by Alberta Gov. and Gold as additional insurance. It's one or the other, not both.
I think you may have missed his point. He has the CUDG guarantee to return the dollar value. However, he thinks that the dollars will be severely devalued due to Federal policies and BVCU will make up that devaluation by selling gold deposits/reserves to make up the difference. I believe that is his point, not that I agree with him.
12:18 pm
February 7, 2019
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AltaRed said
You may find that Alberta's CUDGC may ultimately cancel their membership since BVCU appears to be in violation of Alberta's credit union legislation. The deposit guarantee would then be gone. The rest of AB's credit unions and their members should not be backstopping nut jobs.
He should run for the UCP. Once elected he could be a shoe-in for Finance Minister and establish the Alberta Pension Plan based on gold and tar ...
| CGO |
12:21 pm
April 14, 2021
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Pirithous said
I'll give him props for being a great salesman, but I wouldn't be parking any of my money with his outfit.
The demand/market already exists, whether or not BVCU fills that need/want. The market will search for others who satisfy the need.
1:23 pm
August 14, 2023
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HermanH said
TINAisOver said
What he wants is to have deposit insurance backed by Alberta Gov. and Gold as additional insurance. It's one or the other, not both.I think you may have missed his point. He has the CUDG guarantee to return the dollar value. However, he thinks that the dollars will be severely devalued due to Federal policies and BVCU will make up that devaluation by selling gold deposits/reserves to make up the difference. I believe that is his point, not that I agree with him.
No, I haven't missed this point, Mr. Oland states that very point in the article. But financial failure comes in more than one scenario . There is a greater chance of a run specifically on his CU rather than the Canadian banking system as a whole. If his gold assets don't cover bank deposits then Mr. Oland will expect that Alberta is obligated to bail out his members, after all they are a CU. Thus having it both ways.
HermanH said
Pirithous said
I'll give him props for being a great salesman, but I wouldn't be parking any of my money with his outfit.The demand/market already exists, whether or not BVCU fills that need/want. The market will search for others who satisfy the need.
Yes, demand/market already exists , but they are not Called Credit Unions.
Trader first, Saver second
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