Comments on: Inflation Is More Complicated Than Thought, Recovery May Be Delayed: Bank of Canada

By: Scott

Scott — Mon, 11 Oct 2021 14:17:13 +0000

Minister’s directive
(2) If, notwithstanding the consultations provided for in subsection (1), there should emerge a difference of opinion between the Minister and the Bank concerning the monetary policy to be followed, the Minister may, after consultation with the Governor and with the approval of the Governor in Council, give to the Governor a written directive concerning monetary policy, in specific terms and applicable for a specified period, and the Bank shall comply with that directive.

Maybe he was just repeating what our illustrious Finance Minister believes…unicorns and fairy dust…

By: Pickle Rick

Pickle Rick — Sun, 10 Oct 2021 01:53:27 +0000

In reply to Just wondering. "Democracy" lol

By: Pickle Rick

Pickle Rick — Sun, 10 Oct 2021 01:50:21 +0000

In reply to Nathan. And surrender dollar supremacy? We're way past the point that free-markets can be restored without a massive economic shock.

By: D

Fri, 08 Oct 2021 23:19:06 +0000

In reply to Ahmed. He’s a CFR member, ie globalist elitist scum. People like him only care about themselves, he shouldn’t be in a government position.

By: Bob Commenter

Bob Commenter — Fri, 08 Oct 2021 20:38:24 +0000

In reply to Ahmed.

It was more like 30% increase in money supply in 2020

https://betterdwelling.com/canadas-money-supply-is-growing-at-the-fastest-rate-in-over-30-years/

By: Just wondering

Just wondering — Fri, 08 Oct 2021 20:34:05 +0000

If the BOC is offering word salad than it’s hard to figure out what drives the policy or even if its driven by anything — or just the whim of the day “We need a nother 3 billion dollars printed”

Since its a federal (?) institution wouldn’t it be nice if they were driven by clear public measurable policy that they can be verified on and held accountable on? Or am I dreaming too much?

All we see is word salad and fake statistics such as core CPI.

By: Steve

Steve — Fri, 08 Oct 2021 19:45:34 +0000

Honestly he did well considering him and his minions spent hours drafting up a report on normalizing a “more” global economy (read central digital currency) only to be hit with a gauntlet of questions pertaining to inflation.

The Bank of Canada does not release the velocity of money but based on GDP to M2 ratio, the economy has been treading around a rate of just over 1x since pandemic began (with little movement too boot). This is astronomical given the amount of M2 and knowing how highly reliant the GDP is on the RE industry. We know what comes next when we have high rates of inflation coupled with sustained low velocity and it is not good.

By: Steve

Steve — Fri, 08 Oct 2021 19:35:12 +0000

In reply to Ahmed.

Haha 10% per year.

The actual increase was hitting 30% yearly growth rate.

https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/

By: Rob

Rob — Fri, 08 Oct 2021 15:20:30 +0000

In reply to Ahmed. It goes back 30 years.

By: Ahmed

Ahmed — Fri, 08 Oct 2021 14:59:46 +0000

You can’t increase the money supply by 10% per year and then be surprised when lower output and higher prices occur. This was intentional, and basic economics.

He’s a professor, and has decades of experience at the Bank of Canada. He understands how this works, he’s just pretending to be an innocent fool.