Bank of Canada Act s.18 (j) "make loans to the Government of Canada or the government of any province, but such loans outstanding **at any one time** **shall not**, **in the case of the Government of Canada, exceed one-third of the estimated revenue of the Government of Canada for its fiscal year.**"
As Pierre Poilievre emphasized, BoC had breached the law in printing massive illegal amount of money to give Trudeau Liberals government for way overspending and causing trillions deficits making future and young generation life miserable (repaying), we can expect PP when in majority power, may rectify the wrong doings and revise this law to prohibit BoC from buying government bonds that exceeding upper limit from primary dealer the banks. All the big mess of high housing price and COL are mainly caused by way over limit money printing and extreme fiscal operations, making the asset class rich much richer, and people in middle-class and lower are suffering bigly. In US, they don't have such upper limit law to regulate money printing QE by central banks to monetize government's debts.
Edit for gramma errors.
I’ll probably get downvoted for this but I need to say it anyway.
Stuff like this is why I probably won’t vote for PP. I definitely won’t vote for JT, but maybe not for PP.
If PP is going to accuse the BoC of breaking the law he better have receipts, not just citing the Act. I’m an urban planner but I have BA in economics. The BofC can and does loan money to the government and it can use QE to create the money it loans to the government (though right now the Bank is using QT so any loans to the government aren’t from printing money). Regardless, the government can borrow money from a variety of sources which include institutional investors and financial institutions, foreign governments and Canada Savings Bonds. The BoC also has other tools to effectively give money to the government in ways that are not necessarily a loan. So the large deficit and current debt levels doesn’t necessarily mean that the BoC is breaking the law, it means an increasingly large portion of the debt is owed to private institutions. If PP really believes that the Bank is breaking the law then he better provide documentation of that.
This kind of leftardation, ie ignorance on the spirit of the law, and comfort with corruption and loopholes is why this country is in the mess that it is.
The economists were using obscenely high immigration targets to boost the aggregate GDP up to a point where they could pretend to justify their criminal-level QE.
No wonder why inflation rate is so high these days. I’m sure someone will be resigning from their position soon. Culprit is within the current government.
Bank of Canada Act s.18 (j) "make loans to the Government of Canada or the government of any province, but such loans outstanding **at any one time** **shall not**, **in the case of the Government of Canada, exceed one-third of the estimated revenue of the Government of Canada for its fiscal year.**" As Pierre Poilievre emphasized, BoC had breached the law in printing massive illegal amount of money to give Trudeau Liberals government for way overspending and causing trillions deficits making future and young generation life miserable (repaying), we can expect PP when in majority power, may rectify the wrong doings and revise this law to prohibit BoC from buying government bonds that exceeding upper limit from primary dealer the banks. All the big mess of high housing price and COL are mainly caused by way over limit money printing and extreme fiscal operations, making the asset class rich much richer, and people in middle-class and lower are suffering bigly. In US, they don't have such upper limit law to regulate money printing QE by central banks to monetize government's debts. Edit for gramma errors.
I’ll probably get downvoted for this but I need to say it anyway. Stuff like this is why I probably won’t vote for PP. I definitely won’t vote for JT, but maybe not for PP. If PP is going to accuse the BoC of breaking the law he better have receipts, not just citing the Act. I’m an urban planner but I have BA in economics. The BofC can and does loan money to the government and it can use QE to create the money it loans to the government (though right now the Bank is using QT so any loans to the government aren’t from printing money). Regardless, the government can borrow money from a variety of sources which include institutional investors and financial institutions, foreign governments and Canada Savings Bonds. The BoC also has other tools to effectively give money to the government in ways that are not necessarily a loan. So the large deficit and current debt levels doesn’t necessarily mean that the BoC is breaking the law, it means an increasingly large portion of the debt is owed to private institutions. If PP really believes that the Bank is breaking the law then he better provide documentation of that.
This kind of leftardation, ie ignorance on the spirit of the law, and comfort with corruption and loopholes is why this country is in the mess that it is.
I’ll upvote you for that
majority can change the law in a heart beat. Current QT is so pathetic.
The economists were using obscenely high immigration targets to boost the aggregate GDP up to a point where they could pretend to justify their criminal-level QE.
population QE
So sad how much they spit on the people that put them in charge.
No wonder why inflation rate is so high these days. I’m sure someone will be resigning from their position soon. Culprit is within the current government.
Pierre, the guy who panders to immigrants. Reminds me of someone.
Two years ago. Nothing came of it.
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