REPORTING AND OPINION BY MATHEW CARR
APRIL 22, 2025 — This politician is Pierre Poilievre, who is running this week to be conservative PM of Canada against Liberal Mark Carney, former governor of both Bank of Canada and Bank of England.
See this.
Rough transcript, Otter AI
“We’re going to AXE the worst tax of all, the inflation tax. The inflation tax, we know what that is. It’s when the government wants to take and spend more of your money, but they don’t want to be accountable for raising the cash the honest way.
They don’t hold a vote in the House of Commons to increase tax rates. What they do is run massive deficit, deficits paid for by central bank money printing, flooding the economy with easy cash might seem like a lot of fun in the short run, it’s kind of like taking a big old vacation to Vegas on your credit card.
It’s fun while it lasts, but of course, the bill comes soon enough. But when they print all that money, here’s what happens. They don’t increase the stuff that money buys. Let’s say you have 10 apples and you have $10 it’s going to be a buck an apple in that economy, you double the number of dollars to 20, but you still only get 10 apples. You’re not twice as rich. It’s just that each apple now costs twice as much, so.
The Liberals increased the money supply from $1.8 trillion to $2.5 trillion that’s an increase of 40% during a time period when the real economy grew by 4%, so the money was growing 10 times faster than the stuff that money buys.
This caused the worst inflation in 40 years. Now, the people who got the money out of the starting gate, the banking system, the big government bureaucracy, they all benefited because they got to spend it before it lost its value, but then the costs all trickle down to you, and so your paycheck and pension were worth less.
That’s why the cost kept rising. He did that. Trudeau did this all with Mark Carney’s enthusiastic advice.
Carney said if we didn’t print money, we’d have deflation. His worry was that prices might actually go down, God forbid things become more affordable, but that’s how the inflationist liberals think so. We’re here’s how we’re going to get rid of the inflation tax. We have to stop the out of control spending in Ottawa that causes it in the first place.”
CarrZee win
Random Person is clearly not random at all … but some pro-Carney supporter who knows enough about x to stop me rebutting his or her cowardly claims.
For the record … I know Mark Carney has been credited with saving Canada by defending against the worst of the climate global financial crisis …good on him for doing that and for being aware of the dangers of quantitative easing.
But here is my point. He has known about the dangers to ordinary people of quantitative easing (printing money) in that it stokes inflation that erodes their spending power and wealth.
Yet he has spent 17 years or so now …FAILING TO CALL OUT THE BAD BEHAVIOR.
HE KNEW ABOUT THE BAD BEHAVIOR AND LET THE ELITE GET AWAY WITH IT. HE’S NOW BEING REWARDED FOR THAT ASSISTANCE IN THE COVER UP BY GETTING THE PM ROLE IN CANADA – REWARDED BY THE ELITE FOR LETTING THE ELITE ROB THE TAXPAYERS OF CANADA, UK AND THE USA OF THEIR WEALTH.
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