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The Courage To Speak The Truth Is A Virtue!
The Bank of Canada, Canada’s central bank, enjoyed a long history of independence, essentially doing its job without getting caught in the Federal government’s political agendas and policies. But that has ended under Prime minister Justin Trudeau and Tiff Macklem, the bank's current governor, a Trudeau appointee that has turned out to be a big nightmare for all Canadians.
Despite the prime minister’s apathy for numbers and economic policies, an issue he has spoken about on several occasions, the central bank seems to have given him free rein over the country’s coffers to plunder as much as he wants. That’s why we’ve had results like this:
In a recent interview, Maxime Bernier, the founder and leader of the People’s Party of Canada, talks about the mess that Trudeau and Macklem have made of Canada’s economy. Bernier, who has a background in banking and finance, explains that the central bank won’t be able to fight inflation even if it announces another rate increase in September. He adds that it would first have to plunge the economy into a re-seshin and possibly, stagflation, a combination of stagnant economic growth, high unemployment and high inflation.
As Maxime Bernier has explained, prices of goods don’t just rise. They are propelled by bad monetary policies, the likes of which Canada has continuously witnessed under the prime minister. Now, the central bank is caught between a rock and a hard place, to let inflation run rife or plunge the economy into a prolonged period of slow economic growth that would cripple thousands of businesses and send hundreds of thousands of employees into the streets.
Maxime has always been vocal about his opposition to Trudeau’s mandatory vaccinations and oppressive public health measures. In 2021, he attended several anti lockdown protests and was even arrested in Manitoba for attending a rally against co-vid restrictions. In his interview, the PPC leader states that these measures were all about controlling Canadians, and there are many more planned, including a central bank digital currency that would be easy to control and censor.
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Sources:
https://youtu.be/GajqJ8iBGJ4
https://financialpost.com/news/econom...
https://energynow.ca/2020/02/justin-t...
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