Canadian High Interest Savings Bank Accounts

I realize it all hinges on the Bank of Canada rate…it falls, the banks follow suit.

But they have all my cash in their hands to lend out to others at a substantially higher rate, and pay me such a pittance in order for their business to profit? It was 4.25% when I opened it. Had I known it would fall this low, I'd have been better off stashing it under my mattress.

*grumble*

HAHA.

After reading an online article in the Toronto Star on this very subject, among the reader comments was this little gem:

"I heard this one a while ago: If you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00. With Enron, you would have had $16.50 left of the original $1000.00.. With WorldCom, you would have less than $5.00 left. If you had purchased $1000 of Delta Air Lines stock you would have $49.00 left. But, if you had purchased $1,000.00 worth of beer/wine one year ago, drank all the beer/wine, then turned in the cans/bottles for the aluminum recycling REFUND, you would now have $214.00. Based on the above, the best current investment advice is to drink heavily and recycle."