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Originally Posted by gemy  First that is fact you do get face value plus full one year interest on CSB's if you keep them for one year. They are issued and fully backed by the Government of Canada. If you cash in early ie prior one year; you get your full face value plus some portion of the interest earned until the month you cash in.
Bonds have different maturity dates, earning differing rates of interest, accrued at different time periods. But once the maturity date of a bond has come, you better invest those funds in another commodity otherwise you won't earn any money on those funds.
Go to an International Securities broker if you wish to purchase CSB;s; I have it on good authority even Americans can purchase these. |
Very interesting...I had no idea. I have never discussed such things with any of my Canadian friends...perhaps I should have.
QUOTE=gemy;3803874]I never said that CSB's could be spent at any retail establishment. What I said in a Medical Emergency situation, at a Veterinary Hospital after banks have closed etc. etc; if you had CSB bearer bonds in hand, critical emergency care would NOT be denied to you. If you had the bonds in hand at any of our National banks during the day, they could be borrowed or in some cases cashed in.
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I apologize for the mis-understanding. Two things...
First, a "Medical Emergency" in the USA is most often handled by a 'for-profit' (= 'retail') organization...we have very few community hospitals left, and even the one we have here locally keeps becoming a source of interest for the for-profit medical/hospital cartels/companies.
Second, our bonds, as my kids rudely found out at banks, do not appear to be usable as any form of "currency" other than bank deposit...maybe at a mugh higher level than "consumer"...and so such an idea was completely impossible for my feeble brain to conceive!
Thank you very much for the explanation...I have learned a lot today. Take care!
