If you listen to the CRTC-controlled media heads, you’d assume that these rate cuts are necessary; the truth is these rate cuts barely benefit the indebted PRIVATE citizen; the major beneficiary of these rate cuts is the Federal government.
This a reminder that we’re on a RULE by the FIAT monetary system: the currency we use says legal tender on it, and the market sets the price for commodities. Currently, the Canadian dollar trades well on foreign exchange markets(forex markets), but domestically, the Canadian dollar is losing a lot of value, especially in domestically controlled sectors, like the housing-rental markets, where inflation is still running rampant.
Now, unfortunately for most of Canada, Justin Trudeau can say this is a win, and they’re killing inflation, and it wouldn’t surprise me if Justin Trudeau sees this as an opportunity to buy more votes, throwing more money at NOTHING.
In case you’re not paying attention, Justin Trudeau has tried over and over again to stimulate the economy by throwing money at economic problems; now if you’re not understanding or comprehending why rule-by-fiat money is a horrible idea(which I support), it’s because most people imagine “PROGRESS” as more layers of regulation to the economy, without stopping “progress.”
So even though Justin Trudeau is throwing money at problems he’s not cutting or reversing any of his prior dumb economic ideas like the carbon tax that are causing inflation. If you’re an archo-capitalist or even a believer in Austrian economics, you can see the problem clearly, however most of the world are Keynesians, and so in their minds, they’re applying their own “logic” to the argument.
Why I support fiat money is because the thinking regarding money and GOVERNANCE has to change before we have a Gold Standard, because if we have the idiot voters and the idiots in charge now governing during a GOLD standard, you’re begging for trouble.
Try not to forget that money is still made up. Money is a good way for us to measure progress or if something is working in numbers, but if you believe in freedom of speech and freedom of expression, financial idiots like Trudeau and his followers have the right to exist, as does their fiat monetary system.
The only real way to strip morons of their FINANCIAL power is to do what Javier Milei did in Argentina, which is to ELIMINATE legal tender laws. I do this being inevitable in the future. Although, for many in the present tense, it’s hard to imagine Canada no longer being a top destination, I remind you that the capital, at one point, was running to Venezuela until Hugo Chavez was elected. One generation can destroy a nation.
Interesting times ahead
