Wednesday, September 16, 2015 9:14:48 AM
I assume you mean Jerry Brown?
He is still gov of California but that state is not doing too well. They have all kinds of debt and a water crisis.
http://news.yahoo.com/california-s-water-crisis-drought-katie-couric-explains-182006167.html
Many areas of the state have water being trucked in because the local wells or Reservoirs have dropped to the point that they can't get water from them.
He has a reputation that he is 'tax and spend', with spending more that was raised on taxes. There have also been times when the state of CA had to issue a short term IOU because the budget was not in place for a matter of weeks. i.e. On top of all the money they already had borrowed, they needed to borrow even more to make payments on the annual budget, so for a while there were state bonds plus IOUs out there. It shows how disfunctional they are, since they couldn't issue more state bonds, they issued IOUs.
One state is so bad off with its state budget that lottery winnings had to be paid out with IOUs.
These problems are one of the reasons I am looking at Royal Bank of Canada. During the Great Grepression (1930s), no bank in Canada failed plus the money would be valued in a foreign currency, so if the USD imploded, shares in RBCDF should hold their purchasing value.
I figure at worst you get a reasonable dividend and a little growth, on average, each year plus some protection if the USD implodes with hyperinflation.
An advantage of the ADR is that while the value of them is in Canada and CAD, they are held in the US as ADRs in USD, so I would not expect them to be effected by any capital controls on foreign currency, if they were to be put in place during a period of hyperinflation.
I view holding RBCDF as more like an insurance policy against USD being hyperinflated, where only a small part of your investments should be in it. The idea or expectation in a scenario that USD hyperinflates, you have enough RBCDF to re establish yourself if you have to move or restart your business (maybe a few thousand worth at least but only a few percent of your portfolio). In that situation, you could assume that your debts would be nothing and all of your assets (except RBCDF) worth nothing due to the hyperinflation, but the RBCDF shares would allow you to re establish yourself.
Louis J. Desy Jr.
Recent RY News
- Selon un sondage de RBC, de nombreux Canadiens ont démarré ou envisagé de démarrer une entreprise en 2024 • PR Newswire (Canada) • 09/18/2024 11:02:00 AM
- A significant number of Canadians have started or are considering starting their own business in 2024: RBC Poll • PR Newswire (Canada) • 09/18/2024 11:01:00 AM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/16/2024 07:21:29 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/16/2024 06:57:40 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/16/2024 06:43:31 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/16/2024 06:38:26 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/16/2024 04:06:40 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/16/2024 04:03:49 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/16/2024 03:08:23 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/16/2024 02:45:58 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/13/2024 08:31:19 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/13/2024 08:27:05 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/13/2024 07:27:51 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/13/2024 07:24:46 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/13/2024 07:20:16 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/13/2024 07:13:37 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/13/2024 07:05:51 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/13/2024 06:05:45 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/13/2024 06:03:42 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 09/13/2024 04:18:25 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 09/13/2024 03:50:51 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 09/12/2024 09:21:34 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 09/12/2024 09:12:44 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 09/12/2024 09:07:07 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 09/12/2024 08:05:29 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM