Chart shows massive surge in money printing, far outpacing comparable nations.
Amid the CCP Virus Crisis, many countries have seen increased central bank activity.
With business activity pulling back, government spending has surged, and countries around the world are going further and further into debt.
However, it appears that money printing in Canada is almost off the charts.
A chart based on Bloomberg data compiled by Crescat Capital LLC shows the Bank of Canada’s balance sheet assots to nominal GDP year-over-year growth is at a stunning 456%.
Meanwhile, in the US, Australia, Japan, Switzerland, and the European Central Bank, that growth is at 100% or less.
Clearly, something big is going on here in Canada.
This is deeply concerning, especially when we consider that the Canadian government spent about 50% more on average on pandemic response programs, yet Canada has the highest unemployment rate in the G7.
The Liberals are shoving money out the door at a rapid pace, and this – combined with serious declines in investment that were taking place even before the crisis – has led to the Bank of Canada printing immense amounts of money.
Another chart shared by @realNathanCheng notes the gigantic increase in the Bank of Canada’s assets and liabilities this year:
One of these things doesn’t look like the others. The Bank of Canada is the 2020 world heavyweight champion of money printing. https://t.co/KzaDCb5Toy
— pierrepoilievre (@PierrePoilievre) October 7, 2020
EVERYONE STOP FREAKING OUT. IT’S FINE. pic.twitter.com/ttfDaD0vQb
— Nathan | LongevityMarketcap.com (@realNathanCheng) October 7, 2020
This is something that many have been concerned about for some time:
The Bank of Canada will try to keep Canada’s economy stable, which becomes more and more difficult as the Liberals increase spending, restrict growth, and push investment out of the country. Canada also has the problem of being a nation that increasingly doesn’t build anything real, with more and more of our economy amount to shifting money around on computers. Also, our absurdly inflated housing market – inflated in large part by foreign elites buying up our country – is a huge source of vulnerability.
As a result, the Bank of Canada seems to believe it has few options other than printing more and more money, which of course brings it’s own problem, with the risk of inflation, a loss of trust in Canada’s currency, and serious economic decline.
Canada’s economy is a house of cards, and that is increasingly being exposed.