December 10, 2023

The Queens County Citizen

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Conservative Party Leadership | Poilivre attacked the Bank of Canada

Conservative Party Leadership |  Poilivre attacked the Bank of Canada

(Ottawa) Conservative leadership leader Pierre Polyvre launched an attack on the Bank of Canada on Thursday, refusing to say whether he had confidence in the company’s governor, Tiff McClellan, and so-called “experts”.

Posted yesterday at 1:15 p.m.

Michael Sabah
Canadian Press

“The fact is clear: Mr. McClellan, Mr.Me Free land [la ministre des Finances], Justin Trudeau told us there would be no inflation. Now there is inflation. It is clear they have failed, “he told reporters in front of the Central Bank building in Ottawa.

Mr. Poilievre presented proposals aimed at “transparency” and “making Canada a free country in the world”.

If elected Conservative leader and prime minister, he would authorize the Auditor General to audit the Bank of Canada’s financial affairs, demand an audit of the “400 billion” that it “printed” from early 2020, and ban the idea. Central Bank Digital Currency.

Bitcoin and other cryptocurrencies

Mr Poylevre, who has made headlines in recent weeks for describing cryptocurrencies as “anti-inflationary”, assured that “Canada’s official currency will always be the Canadian dollar.”

At the same time, he continued, people should have the “freedom” to use “other forms of money, including bitcoin”.

Earlier this week in a parliamentary committee, Bank of Canada senior deputy governor Caroline Rogers asked whether cryptocurrencies could stem inflation.

“If Canadians are watching […] A source of constant value, cryptocurrencies cannot pass that test, she says. Cryptocurrency volatility, if you look at the last year or two, is higher than gasoline, higher than the Canadian exchange rate, higher than most commodities. ⁇

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Governor McClellan praised the central bank’s balance sheet for its part, reminding parliamentarians that the economy was “low” at the start of the epidemic.

“We are raising interest rates today and we need to normalize monetary policy very quickly, not because our policies have failed, but because they are very effective,” he said. And now we are dealing with the other side of it.

“What I said is true. They are wrong.”

When asked about his economics knowledge, Mr. Poilievre said, “My training is very well documented: 20 times in the House of Commons, I estimate the inflation we have today.”

“I have warned the Governor of the Bank of Canada and two finance ministers that we have this inflation,” he said. Others said: “No, there will be inflation every time”. They say, those experts. After all, I was right. They are wrong. ⁇

According to him, it is time for Canadians to listen to “Mr. and Mrs. are not people who hurt everyone, they are the right people.”

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