Justin Trudeau hints at boosting Canada’s military spending

I'll believe it when I see it.

 

[Oldgateboatdriver]

Nobody printed money to pay for Trudeau’s spending during Covid. His government borrowed the money from financial markets, thus increasing the national debt greatly.

BTW, the banks, even the Bank of Canada, do not print money. The Canadian Mint does. Then, it sells the money to the various banks who buy according to their needs for replacement of worn out cash or for loaning on to borrowers. The amount banks will invest in the purchase of money for the latter is premised on the directing rate of the Bank of Canada (the prime rate).

 

[lenaitch]

So, hemming and hawing on equipment procurement until events overtake them until it becomes urgent. If the government and its procurement system gets out of its own way, something might actually get, you know, procured.

Simply put we can’t get a spot in the production que fast enough so we will likely be forced to go to a bespoke limited user base system in order to be able to get anything timely.

Or we whine our way into the queue. We've done it before.

 

[Spencer100]

Never ascribe to conspiracy what can be explained by spontaneous order emerging from the individually applied biases of people abusing position and/or authority.

Yup and Hanlon's law but I gets harder everyday to

Nobody printed money to pay for Trudeau’s spending during Covid. His government borrowed the money from financial markets, thus increasing the national debt greatly.

BTW, the banks, even the Bank of Canada, do not print money. The Canadian Mint does. Then, it sells the money to the various banks who buy according to their needs for replacement of worn out cash or for loaning on to borrowers. The amount banks will invest in the purchase of money for the latter is premised on the directing rate of the Bank of Canada (the prime rate).

Yes that but the BofC does "create" money.

The Bank of Canada contracts the Canadian Bank Note company to print notes


Royal Canadian Mint just makes coins.

Physical money is a very small part and shinking part of the Bank system.

And yes BofC did "print" money out of thin air. One way was Quanitative Easing (QE)

The growth of tbe BofC balance sheet has been huge.

Now the pain begins as central banks try to stop inflation and pull in the balance sheets at the very same time government spending is going though the roof.

 

[Dana381]

Nobody printed money to pay for Trudeau’s spending during Covid. His government borrowed the money from financial markets, thus increasing the national debt greatly.

BTW, the banks, even the Bank of Canada, do not print money. The Canadian Mint does. Then, it sells the money to the various banks who buy according to their needs for replacement of worn out cash or for loaning on to borrowers. The amount banks will invest in the purchase of money for the latter is premised on the directing rate of the Bank of Canada (the prime rate).

To quote the Bank of Canada
"QE is not the same as printing cash. Under QE, we buy bonds in the open market from financial institutions. And the funds that we use to pay for these purchases end up being deposited in accounts that financial institutions have at the Bank in the form of settlement balances.

Settlement balances (or reserves) are a unique type of money that the central bank creates. They are a normal part of central banking operations. Financial institutions use them to settle payments among themselves. We pay interest on these balances, like deposits at a regular bank."

Taken from Bank of Canada website here.

Understanding quantitative easing

QE is a tool that encourages spending and investment—helping us to achieve our inflation target by stabilizing the economy.

www.bankofcanada.ca

So the Bank of Canada creates money out of thin air and then pays interest on that money. The only difference in that and printing money is that no paper bills are actually made. The outcome is exactly the same, money floods the market devaluing the money already in circulation. Your Money! Our Money! Hence rapid inflation.

The BoC is desperate to convince Canadians that it is not responsible for the inflation because that will cause mass distrust in Canadian dollars making inflation exponentially worse. Reality is Trudeau made money out of thin air and 1 in 5 Canadian dollars did not exist before Covid.

 

[ueo]

To quote the Bank of Canada
"QE is not the same as printing cash. Under QE, we buy bonds in the open market from financial institutions. And the funds that we use to pay for these purchases end up being deposited in accounts that financial institutions have at the Bank in the form of settlement balances.

Settlement balances (or reserves) are a unique type of money that the central bank creates. They are a normal part of central banking operations. Financial institutions use them to settle payments among themselves. We pay interest on these balances, like deposits at a regular bank."

Taken from Bank of Canada website here.

Understanding quantitative easing

QE is a tool that encourages spending and investment—helping us to achieve our inflation target by stabilizing the economy.

www.bankofcanada.ca

So the Bank of Canada creates money out of thin air and then pays interest on that money. The only difference in that and printing money is that no paper bills are actually made. The outcome is exactly the same, money floods the market devaluing the money already in circulation. Your Money! Our Money! Hence rapid inflation.

The BoC is desperate to convince Canadians that it is not responsible for the inflation because that will cause mass distrust in Canadian dollars making inflation exponentially worse. Reality is Trudeau made money out of thin air and 1 in 5 Canadian dollars did not exist before Covid.

Head hurts!

 

[Kirkhill]

Head hurts!

 

[Kirkhill]

Canada's Money Supply Reaches 30 Year High - Silverdale

An imaginative Vancouver company is revolutionizing the way houses are being torn down by collecting every last piece of reclaimable building material.

silverdale.ca

​

Canada M1+ (Gross) Money Supply Change​

The 12-month change in Canada's M1+ (gross) money supply

​

Canada M1+ (Gross) Money Supply​

The dollar value of Canada's M1+ (gross) money supply.

 

[daftandbarmy]

Canada's Money Supply Reaches 30 Year High - Silverdale

An imaginative Vancouver company is revolutionizing the way houses are being torn down by collecting every last piece of reclaimable building material.

silverdale.ca

​

Canada M1+ (Gross) Money Supply Change​

The 12-month change in Canada's M1+ (gross) money supply

​

Canada M1+ (Gross) Money Supply​

The dollar value of Canada's M1+ (gross) money supply.

Like Post-WW1 Germany?

 

[Kirkhill]

Like Post-WW1 Germany?

 

[Good2Golf]

Yup, both M1 AND M2 rose substantially, as a result of the pressure the Government de facto put on the BoC as a result of significant deficits, and the BoC’s QE. I may be wrong, but I’m addition to the BoC buying other bonds, I thought some additional bond series were released beyond historical rates of issue.

 

[Retired AF Guy]

Interesting because the reports I've seen (eg Politico) make no mention of meetings with Boeing, Lockmart or Raytheon. Hope springs eternal.

I stand corrected! Checked todays Politicos Ottawa newsletter and the mention them meeting people from Boeing, Lockmart, Raytheon AND General Dynamics.

 

[IKnowNothing]

I stand corrected! Checked todays Politicos Ottawa newsletter and the mention them meeting people from Boeing, Lockmart, Raytheon AND General Dynamics.

"A senior official from Anand’s office granted anonymity in order to speak candidly about the trip told us not expect any new defense announcements today. Next week, though, may be different with the one-year anniversary of the war in Ukraine around the corner."

 

[TacticalTea]

Next week, though, may be different with the one-year anniversary of the war in Ukraine around the corner.

F*cking knew it.

For a month or so I've dreaded the anniversary of the war because I knew soulless politicians, analysts and youtubers would capitalize on it for their own benefit, and here we are...

I knew it was coming and yet it still shocks me. If there is an announcement to be made, why wait?! Just do your job! To hell with your poetic timing.

 

[dimsum]

If there is an announcement to be made, why wait?! Just do your job! To hell with your poetic timing.

 

[MilEME09]

F*cking knew it.

For a month or so I've dreaded the anniversary of the war because I knew soulless politicians, analysts and youtubers would capitalize on it for their own benefit, and here we are...

I knew it was coming and yet it still shocks me. If there is an announcement to be made, why wait?! Just do your job! To hell with your poetic timing.

You must be new here, or drank to much

 

[Kirkhill]

Where there is life there is hope.

Tom Mulcair wondering why Trudeau didn't authorize the F35s 8 years ago, fought them 15 years ago and is going to be 30 years behind Canada's allies.

Mr. Mulcair wants to know what Mr. Trudeau is doing to preserve Canada's proud WW1 and WW2 heritage and the legacy of his family forebears.

Apparently we should have a whole bunch more military stuff in the warehouse.

CTV News Video | Breaking Canada & World News, Local Stories

CTV News brings you the top videos and must-watch moments from Canada and around the world. Dive into Breaking News, Politics, Weather, Health, Business and more.

www.ctvnews.ca

Oh. By the way. Got to see about improving relations with China.

 

[MilEME09]

Where there is life there is hope.

Tom Mulcair wondering why Trudeau didn't authorize the F35s 8 years ago, fought them 15 years ago and is going to be 30 years behind Canada's allies.

Mr. Mulcair wants to know what Mr. Trudeau is doing to preserve Canada's proud WW1 and WW2 heritage and the legacy of his family forebears.

Apparently we should have a whole bunch more military stuff in the warehouse.

CTV News Video | Breaking Canada & World News, Local Stories

CTV News brings you the top videos and must-watch moments from Canada and around the world. Dive into Breaking News, Politics, Weather, Health, Business and more.

www.ctvnews.ca

Oh. By the way. Got to see about improving relations with China.

Preserving our military legacy, asking why F35 wasn't bought in 2015? A NDP member? Did I wake up in the twilight zone?

 

[dimsum]

Preserving our military legacy, asking why F35 wasn't bought in 2015? A NDP member? Did I wake up in the twilight zone?

Somebody forgot their party platform promises back then.

 

[GK .Dundas]

Tom Mulcair was perhaps one of the best leaders the NDP had .I'm still trying figure out why they got rid of him . And replacing hin with a near non entity .

 

[Kirkhill]

Somebody forgot their party platform promises back then.

In fairness to Mr. Mulcair

Canada opposition NDP says would keep F-35 in race for new jets

Canada's opposition New Democrats on Monday defended Lockheed Martin Corp's right to try to sell Ottawa new fighter jets after a rival said he would not buy the company's F-35 plane if he won the Oct. 19 election.

www.reuters.com