Why won't Canadian leaders talk about the economy and the Canadian monetary system in a truthful way? They frequently give us the same promises of an upturn, but rarely do their optimistic outcomes seem to achieve any successful fulfillment. When it comes to discussing the economy, the financial leaders would try to convince us that inflation is a good thing, and that fiat currencies can continue forever. They would rather argue about budget cuts and interest rates, than focus on a real underlying problem that exists in the Canadian monetary system today. The one truth that we will never hear Harper spend any of his time talking about is fiat currency, and about the dangers that this system poses to the purchasing power and standard of living for every single Canadian citizen.
Prime Minister Harper wants to run his campaign based on the notion that he would be a good choice as continued steward of the nation's economy, but there are many who would disagree. The federal government may even be headed for a $1 billion dollar deficit this year, according to the Parliamentary Budget Office. Unsurprisingly, this claim has been rejected by the Tories, they are adamant that they will be able to avoid a deficit later on this year; despite having issued roughly $3 billion dollars in child-care benefits this week across the country. Aside from the haggling over deficits, the fact still remains that Canada is operating with a currency that is founded upon crippling debt. It is a system which hurts every citizen in the country. This reality is supported by the lawsuit that has been taking place over the past few years in Canadian court systems, with Constitutional lawyer Rocco Galati, the Bank of Canada is still engaged in that lawsuit currently.
The Bank of Canada also recently came out and lowered interest rates. This is surprising considering the recent confession from the Bank For International Settlements (BIS), where they admitted that low interest rates were to blame for excessive debt. They say that because of low interest rates, policy makers don't have enough run in order to “fight the next crisis.” Thanks to low interest rates, they will be ill-equipped to deal with any financial crisis because they are unable to take their interest rates any lower. However, Canada does have a little more room than the United States does when it comes to lowering rates, seeing as the U.S. has had their rates at zero for the past several years now. Also, we know that anytime there is even the mention of rates going higher, the market reacts negatively.
Not only does Harper appear to be ignoring a very serious problem, which is the self-destructive monetary policy of fiat currency. But Trudeau and Mulclair also never spend seem to spend any time talking about the reality of this problem either. For now, the Libertarian Party of Canada is the only Canadian party which has produced a plan that will address this problem, and have promoted the solution of currency competition in the Canadian market. The Bank of Canada has admitted that the fiat monetary system Canada currently operates with, is responsible for the continual erosion of purchasing power when it comes to the Canadian Loonie. This means that as time progresses, Canadians will be able to buy less with their money, because it will continue to lose value. Since 1933, the Canadian Loonie has already lost roughly 96 percent of its value in terms of gold. This is a fundamental issue related to the economy, and Harper (along with other representatives) should spend more time drawing attention to it, if they were truly concerned about a strong economy for the nation.
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