Banksters' Assault Continues
A slight reprieve today. Let’s focus on the Canadiana banksters, who continue to quietly and methodically dismantle much hope for a life of abundance for the average Canadian.
It’s actually quite cunning. As so much attention is directed south of the border, our banksters seem to have even more free reign with their maneuverings.
While most people likely yawned at the news before shuffling off to their next distraction, the announcement from the Bank of Canada on September 11th, while not surprising, should not be swept aside.
As expected by many pundits, the central bank kept the benchmark rate at 0.25%.
What’s more, according to BNN Bloomberg, with the new Governor, Tiff Macklem, at the helm, the Bank reinforced its stance that the rate will remain suppressed until such arbitrary time when the current virus gripping our economy is defeated and the economy shows strength with a sustained annual growth rate of 2%. (1)
In other words, when ever they darn feel like it!
Let’s not kid ourselves. As we saw in the previous post, these central banks can change their minds on a whim, all to suit their own narrative and internal objectives.
As they continue justifying their existence with all their “not” central planning initiatives, the majority of Canadians are either spending away their futures or scratching their heads wondering not only how they will fund their proverbial retirement, but also how they’ll sustain their finances today just to get through this mess.
Mark my words, this continues to be an all out assault on those trying to save and grow their nest egg without taking risks that leave them sweating in their beds in the middle of a bone chilling Canadian winter night.
Surprisingly, a piece on BNN Bloomberg seems to agree, titled: “Bank of Canada drives another nail in the coffin for savers.” (1)
I must admit I find it sad and frustrating to see the growing financial carnage these policies are leaving in their wake. It may not seem like a scene of carnage just yet but my strong suspicions are that we’re heading in such a direction.
The “not” central planning policies are not only making the average Canadian poorer but they’re also enriching the top x % (choose your number for x as it’s truly irrelevant now).
We continue to hear central banks around the world proclaim their war on inequality and their intention to “close the gap”. In reality, their actions are doing anything but closing that gap.
As money from governments and central banks gushes to the people, that same money eventually finds its way to the top of the money pecking order. The vast majority of people either spend it away to sustain their lifestyle thus sending the money to the top through various purchases. Or they think they’ve turned into investing pros and dump it all into the markets, where the Wall Streeters and Friends gobble it up. Either way, the top x%, the ones who don’t even need the initial money dump to begin with, wind up with the new excess cash.
So much for narrowing the gap!
But my ire takes on an all new level when the mainstream media does nothing but promote these actions. While there are times the reporter’s eyes or voice betray their thoughts about the insanity of the situation, they continue to give lip service and airtime to the proclamations of our ever-altruistic central planners.
Besides, these central banksters have all their fancy PhD’s so we must all bow down in reverence and awe to their book smarts. Heaven forefend they have experience running a real business, never mind an enormous economy.
Case in point, embedded in the aforementioned BNN Bloomberg article was a 2-minute video clip with a reporter sharing the news from the Central Bank, during which time the following exchange took place:
Anchor: “And is there any change in the Bank of Canada’s stance? Are they being seen as becoming more dovish here, if such a thing were possible, I suppose?”
Reporter: “Well, they had removed a sentence in some of their prior reports where they had said they were prepared to offer more monetary stimulus if necessary. And instead they included a line regarding their QE program and they said it could be calibrated, um, to provide monetary stimulus. So we don’t know whether that language means that, uh, the Bank of Canada will decide to expand its asset purchases or taper them off, um, but that language suggests the Bank of Canada has some flexibility on adjusting the QE program in the future.” (2)
Yes, I actually transcribed that myself. It’s five minutes of my life I will never get back. But for you, dear friends, it’s worth the effort.
My point in this effort is to highlight the time and effort wasted by the media to nitpick one sentence out of reports that I highly doubt will have any future impact on any average Canadian. Why? Because, as they’ve shown time and again, the central bankers have the ability to move targets and expectations at a whim. What’s the point wondering what they are possibly implying by removing a sentence from their report?
The mere act of removing a sentence from some report that the media is gushing over proves the enormous power of seduction these Banksters possess.
If anything, these efforts by the media are disingenuous and leading the viewing public astray. Rather than focusing needless energy and time on analyzing such matters that are beyond our control, we need to shift our attention to our own matters of building our own family’s and community’s strength, endurance and longevity.
The evidence continues to grow that no one else cares about us. So why do we continue to care about them?
But, what do I know? I’m just a ranting Recovering Bankster.
(1) BNN Bloomberg
(2) BNN Bloomberg video titled: “The Open Bank of Canada recommits to rate freeze, bond purchases”; September 9, 2020