Topic: The money thread

[SaskSpecV]

My cash pile in Tangerine is looking good right now at 1.3%

Same here.  That's my "car fund" (don't want excess volatility for cash I'm going to need in the short term) - and the 3% interest rate they are offering (only for new deposits, for Sept - Dec 2014) is a nice bonus.

After tax rate of return is only ~ 1.0%, but hey, better than a kick in the nuts.

[Weels]

After tax rate of return is only ~ 1.0%, but hey, better than a kick in the nuts.

Yes - barely -- i look after my 84 yr old Mom's investments, which is mostly in various term gic's etc.. the after tax return is pretty much diddly-squat.  Feel like she may as well stick her cash under the mattress.

[mmret]

The funny part is if you weren't watching FX and bond markets you missed 2/3rds of today's action. And it was some mind blowing let me tell you.

[Snowman]

Lost 0.22% today. Has oil reached bottom?

[ArticSteve]

Lost 0.22% today. Has oil reached bottom?

per BLL?   Maybe not.  Won't stay down for long.

Oil stocks are getting whooped by Margin Calls.

[Snowman]

Many operations and projects are not economical under $90. Shares have been taking a beating.

[ArticSteve]

Many operations and projects are not economical under $90. Shares have been taking a beating.

Oct 15 (Reuters) - Oil extraction in North Dakota's largest oil-producing county would become economically unfeasible at $28 per barrel, far below the current price, state regulators said on Wednesday.
 
The forecast, meant to assuage concerns on Wall Street as oil prices fall to two-year lows, is for McKenzie County, which produced nearly 12 million barrels of oil in August.
 
For Williams County, the second-largest oil producing area in the state, the North Dakota Department of Mineral Resources sees a breakeven point of $37 per barrel. For the state's four-largest oil-producing counties, $42 per barrel was the highest breakeven point.
 
Crude oil futures are trading at roughly $81 per barrel.
 
The forecast, in line with previous estimates from state officials, is the point at which production at existing wells could or would cease.
 
Analysts on Wall Street have generally seen $75 per barrel as the price at which oil producers would consider holding back on drilling new wells. (Reporting by Ernest Scheyder; Editing by Diane Craft)

[Snowman]

Many operations and projects are not economical under $90. Shares have been taking a beating.

Oct 15 (Reuters) - Oil extraction in North Dakota's largest oil-producing county would become economically unfeasible at $28 per barrel, far below the current price, state regulators said on Wednesday.
 
The forecast, meant to assuage concerns on Wall Street as oil prices fall to two-year lows, is for McKenzie County, which produced nearly 12 million barrels of oil in August.
 
For Williams County, the second-largest oil producing area in the state, the North Dakota Department of Mineral Resources sees a breakeven point of $37 per barrel. For the state's four-largest oil-producing counties, $42 per barrel was the highest breakeven point.
 
Crude oil futures are trading at roughly $81 per barrel.
 
The forecast, in line with previous estimates from state officials, is the point at which production at existing wells could or would cease.
 
Analysts on Wall Street have generally seen $75 per barrel as the price at which oil producers would consider holding back on drilling new wells. (Reporting by Ernest Scheyder; Editing by Diane Craft)

Sorry, I was referring to Alberta and the sands.

[mmret]

I assume that $90 number is based on WTI? WCS is at $68 right now.

But yeah the oil sands are going to get squeezed at these prices. Going ot hurt if it keeps up.

[Guy]

TSE at +198. The bottom was yesterday?

[blotter]

My cash pile in Tangerine is looking good right now at 1.3%

Meridian Credit Union's Online Savings account are paying 1.75%
no limits, minimums and moving funds from said savings to your chequing account (at Meridian) is all free.
no charges, instant transfers (no waiting!)

Just a bit of a plug 

[Snowman]

My cash pile in Tangerine is looking good right now at 1.3%

Meridian Credit Union's Online Savings account are paying 1.75%
no limits, minimums and moving funds from said savings to your chequing account (at Meridian) is all free.
no charges, instant transfers (no waiting!)

Just a bit of a plug 

1.75% is better than 1.3%.....will have a looky

[dougjp]

My cash pile in Tangerine is looking good right now at 1.3%

Meridian Credit Union's Online Savings account are paying 1.75%
no limits, minimums and moving funds from said savings to your chequing account (at Meridian) is all free.
no charges, instant transfers (no waiting!)

Just a bit of a plug 

1.75% is better than 1.3%.....will have a looky

Better rates exist, CDIC insured as well. Refer my previous post.

[blotter]

My cash pile in Tangerine is looking good right now at 1.3%

Meridian Credit Union's Online Savings account are paying 1.75%
no limits, minimums and moving funds from said savings to your chequing account (at Meridian) is all free.
no charges, instant transfers (no waiting!)

Just a bit of a plug 

1.75% is better than 1.3%.....will have a looky

Better rates exist, CDIC insured as well. Refer my previous post.

we're insured.  but it's DICO (that's Provincial insurance instead of Federal)
BTW - Credit Unions offer UNLIMITED insurance for registered products.  (RRSP, TFSA, RIF)
that's on top of $100K for unregistered accounts.

There might be better rates, but I think in Ontario this is one of the best and might be one of the best in terms of having instant access to your cash.   Places like Tangerine take time to make your transfers happen. 

[mmret]

Hm never heard of DICO.

Kind of makes you wonder though. How much money is really in there and in a crisis will the province have to issue debt to pay depositors?

Govt of Canada (FDIC CDIC) can just order up the BoC to print money (in theory...not sure if legal but in times of trouble these issues go out the window). Ontario cannot.

[dougjp]

My cash pile in Tangerine is looking good right now at 1.3%

Meridian Credit Union's Online Savings account are paying 1.75%
no limits, minimums and moving funds from said savings to your chequing account (at Meridian) is all free.
no charges, instant transfers (no waiting!)

Just a bit of a plug 

1.75% is better than 1.3%.....will have a looky

Better rates exist, CDIC insured as well. Refer my previous post.

we're insured.  but it's DICO (that's Provincial insurance instead of Federal)
BTW - Credit Unions offer UNLIMITED insurance for registered products.  (RRSP, TFSA, RIF)
that's on top of $100K for unregistered accounts.

There might be better rates, but I think in Ontario this is one of the best and might be one of the best in terms of having instant access to your cash.   Places like Tangerine take time to make your transfers happen.

Thanks blotter, I'm looking into it, and with your new much more competitive rates (I recall looking months ago and the rates weren't anything special?). I just e-mailed them for more specifics about the eft transfer system used. of the three I use, Canadian Direct Financial is the only one with a s.l.o.w ETF system, it takes 3 days before anything happens. So even with its 1.9% rate there are days of earning nothing, plus its almost impossible to cover a stock purchase with transferred cash as there is a 3 day settlement for stocks. The other two are fine. 

[Guy]

TSE at +198. The bottom was yesterday?

I guess it was.. +208 today..

[wing]

I thought the end of the world was here?

Glad I bought at the low of the year lol

[Weels]

This is all sadly amusing to watch.
Assume the jump is driven by oil, since "WTI extends rebound on speculation drop was excessive" according to Bloomberg

[blotter]

Hm never heard of DICO.

anyone who's never dealt with a credit union wouldn't really know.

http://www.dico.com/design/index.html


each Province would have it's own insurance program as Credit Unions are Provincially regulated.