Bank of Canada slips into its new niche.

So here we go again, not that it has really stopped since 2006, but since 2011 the Canadian administration BS and bafflegab has gone hip high to an elephant.


On Wednesday 21st January 2015 the Bank of Canada confirmed again that it is now nothing more than an inflation watchdog. The Governor of the Bank of Canada has even proudly claimed that that is the Bank’s #1 priority  when he said on November 4th 2014, Standing Committee on Finance in response to a long garbled question by James Rajotte, and I quote from Hansard


“Tying that to the second half of your question is very important. The Bank of Canada has only one goal, and that’s to keep inflation on its target within a timeframe of around six to eight quarters. That’s our horizon of flexibility.”…..Hansard with my highlights.



Any economist, or for that matter teenager, knows that if you reduce your income and increase your expenditures you are heading for financial disaster. Regretfully there does not appear to be an economist (or anyone even with the acumen of a teenager) in the ranks of the present administration as they have from day one reduced Canada’s income by drastically cutting corporate tax rates, minutely cutting personal tax rates, reducing GST absolutely unnecessarily, increasing personal taxes by a thousand mini cuts such as  tariff increases etc., and their lavish expenses have skyrocketed. We need 30 more very expensive MPs , $16 dollar glasses of orange juice or million dollar ferrying of a security limo for presidential PM use in India to give just a few examples, in the same way we need holes in our heads. 

Well hold on Arney there was a melt down in 2008 wasn’t there?


Yes there was and it was categorically denied by the Harper government. During the 2008 election $75 billion was donated to our Canadian banks through the CMHA even while Harper and Flaherty were trying to say we were immune from the problems coming fast and hard at the rest of the world and claiming that our banks were rock solid!  This eventually topped out at a whopping $114 billion in 2009.


Two months later whilst still saying there wasn’t a problem Harper had to prorogue to avoid being defeated in the House and removed from power. He still could not see a problem!


So yesterday there he was answering questions about the economy and admitting that the price of oil was in fact costly to the Canadian bank account (Which bank are they using for their accounts by the way or are they all getting a piece of the pie)


So the price of oil has gone down substantially. Why? Not because it is now cheaper to extract it from the ground, transport the oil to refineries and turn it into a burnable fuel. No it’s because there is more oil available then there is a need for. A glut. Wonderful.


So will the price come up again? Most likely because the oil companies are too big to fail, and too blind to see the writing on the wall, and administrations such as that in Canada today will probably throw money at them that should be going to vets, seniors, the homeless, to help charities not cripple them, the infrastructure and the provinces.   Very likely that this is what will happen with Harper’s government because they are not interested in the health, fortune, wellbeing or standard of living of any Canadian who is not a card carrying CPC member and even they are often lumped in with the rest of us and told to fend for themselves.


Our manufacturing output is down because corporations like, CAT, Navistar (transport truck manufacturer), Kellogg’s, PACCAR( Kenworth and Peterbilt makers), Steelco, Alcoa, etc., have left the Canadian scene along with their lost jobs, union pensions and taxes.   I also understand that Bombardier are seriously contemplating moving lock stock and barrel to Mexico soon.   Now that one will really hurt.


So, is all lost?   Depends on how well the new ”UN”fair elections act works for the administratio with the extra tools they have given themselves to steal their 4th election in a row later this year.


If everyone in the country becomes registered to vote and obtains the necessary ID, then acts upon that right to vote no matter how much there is disruption at the voting places caused by the CPC scrutinizers who will try and create massive lineups and delays and make non CPC voters give up in disgust, we can get a real peoples’ government back. This distruption will be done with the aid of something called bingo cards which will tell them when their own supporters have voted and allow them to start causing a ruckus to prevent anyone else from voting.


If we believe that we all have the right to vote in spite of Harper’s government efforts to take that away from us, and exercise that right we can and will get rid of the worst Prime Minister, and his government, that Canada has ever had, and start the job of rebuilding what was once a nation to be believed in.


Of course I would want everyone to vote for the Canadian Action Party where we have Candidates as we are probably the only party which specifically wants to represent our constituents to the HOC not the HOC to our constituents. Where our MP votes will be free and caucus meetings an exchange of ideas not relaying dictums from above. Where the Bank of Canada will again be used to finance Canada’s needs at little or no cost and manufacturing jobs will return home instead of leaving for Mexico or somewhere else where labour is cheap and the products reflect that.


A country where once again Canadians can be proud to be part of it, and proud to help rebuild a country to help the world not cause wars, civilian deaths and destruction as in the case of Libya for instance. A nation whose standard of living was so far ahead of ours under Ghadafi until we destroyed everything he had built for his people from the safety of the air in the name of maintaining a no fly zone, turning them back into the stone age; where no government now exists and contestantly mercenary bands are fighting for control; where raping and civilian killings continue at pace, and their state owned bank has been replaced by  central bank sponsored by the IMF.

Some democracy we created there!

 So welcome Bank of Canada to your new role as inflation watchdog. Rest well for when we call on you to return to and fulfill your real role in Canada.

Join the movement to recover Canada in 2015.

Vote for CAP or anyone who will represent you to Ottawa, not Ottawa to you.


Jeremy Arney