Thursday 30 March 2017

Wow, Our BCRIC Shares

    Last night I was trying to clean out our filing cabinet by throwing out all the obsolete papers that we no longer needed.  It’s amazing how many insignificant old documents we have been hanging on to.  I bet Joan has every salary receipt she ever received during her decades of teaching.  Anyway, in one of the file folders I found our BCRIC shares.
    Back in 1979 just before a Provincial Election, the governing Social Credit Government (the hardcore capitalist, resource extraction party and ancestor of our present BC Liberal Party) came up with an idea to buy votes.  They decided to privatize a lot of the things the citizens of BC owned as part of their government, then having made a corporation out of them, gave each citizen 5 shares of the corporation.  They told everyone, that BCRIC was going to be a real money maker for stockholders and put a lot of shares out for people who really wanted to get rich so they could buy some more.
    Things really didn’t work out as well as all the hype because BCRIC shares soon became worthless.  The only people that got rich off of them were the winos down on Skid Row that sold their 5 shares immediately.  
    It would be nice, if like in all those movies, you find some old shares of some stock in the bottom of a trunk and now they are worth millions, but that ain’t going to happen with BCRIC shares.  I wonder if the museum is interested in 10 shares.

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