Pierre Poilievre’s Speech On Modern Monetary Theory Is Something All Canadians Should Watch

One of the few politicians in Parliament addressing the deeper issues in the country, rather than just the surface-level of things.

As Canada falls further into the depths of fantasy economics, much of the debate has been about who can best ‘manage’ the ballooning federal government.

Many politicians – including many ‘conservative’ politicians – have fallen into the Liberal frame of accepting that increased spending is the solution to every problem.

Erin O’Toole has been moving between contradictory messages, saying on the one hand that Trudeau is spending too much, while also saying Trudeau didn’t give enough to the provinces for healthcare and ‘let down families,’ presumably by not spending enough on them.

What has been missing is a logical & philosophical case made by the Conservatives against the very idea of big spending itself.

Well, that case has been made by Conservative MP Pierre Poilievre.

In a roughly 9-minute long speech, Poilievre discusses how so-called ‘Modern Monetary Theory’ isn’t so ‘modern’ at all, going through a history of those who thought they could somehow generate wealth by printing money/debasing their currency, with the inevitable result of making people poorer and leading to financial disaster everytime.

With the Liberal government now clearly pushing for the equivalent of Modern Monetary Theory – even if they claim otherwise – we are seeing this dangerous old idea repacked and presented as something innovative.

And, in a world where so many people are unfortunately unaware of the dynamics of money printing, the influence of the Bank of Canada, and how inflation is a hidden tax, the Liberals certainly feel they can get away with it politically.

That’s why Poilievre’s remarks are important, because people will see a politician in the House of Commons who is bringing awareness to the dangerous path the Liberals are embarking upon.

Here’s Pierre Poilievre’s speech on Modern Monetary Theory

The history lesson here from Poilievre is important, and it aligns with what I and others have been saying:

Putting a new title on the idea of printing money doesn’t make it a new idea.

Rather, it makes it more easily disguised, and seeks to fool people into forgetting that deficits, debt, and currency debasement are considered negative things for a reason.

Poilievre’s point on how money printing benefits the rich is also of note, since it is a great refutation of the Liberals’ posturing as ‘helping those in need.’

It’s no coincidence that the big banks, the Bank of Canada, corporations, and government officials are all glad to pretend that inflation is low (we can all see that the opposite is true), because they benefit from the money taps being open while the rest of us pay the price.

And on the issue of inflation, it’s great to see a politician call out the Bank of Canada.

The Bank of Canada has become increasingly politicized, seemingly working in league with politicians to suppress the acknowledgment of the true inflation rate, and enabling expanded debt and deficits by creating massive amounts of money out of thin air to finance that excessive government spending, rather than discouraging that spending.

Inflation is rampant

While the government laughably claims inflation is low, nobody believes them.

We can see inflation all around us.

When I posted on Twitter an article asking if people actually believed what the government says about inflation, everybody said no.

Plain and simple, the government and the Bank of Canada are deceiving us, a point Poilievre made by noting how the Bank of Canada uses the lowest inflation measure they can to keep pretending it’s all under control.

When we see such a coordinated attempt to lie to the public, especially when we can so easily see through the lie, you can be certain that the reality is rampant inflation, and a government desperate to hide the fact that people are becoming poorer and poorer in real terms as our money is stripped of value.

Speaking for himself, or the party?

As one of the few (perhaps the only in Parliament) politicians speaking about Modern Monetary Theory and the Bank of Canada, the question is whether Poilievre is speaking for himself, or for the Conservative Party.

My view is that he is speaking both for himself and for the soul of the Conservative Party, meaning the feeling many CPC members have that Canada’s spending is out of control, the government is too big, and the idea of money itself is losing meaning amid rampant money printing and rising inflation.

But when it comes to the CPC in terms of the party leadership and infrastructure, it seems they are still unsure whether to actually make a philosophical argument against the Liberal spending surge, or whether they will try to have it both ways and get away with simultaneously saying the government is spending too much and too little and hope people don’t notice the contradictions.

Why was Poilievre moved?

Watching the contrast between Poilievre’s speech – delivered mostly from memory with limited use of notes and an effective mix of logical and theatrics (necessary to generate attention and social media shares), and the response to the budget by Finance Critic Ed Fast once again brought up the question of why Poilievre was moved out of the finance critic role.

“Every Canadian should watch this. A strong takedown of the dangerous ‘modern monetary theory’ being pushed by the federal government. Also, how can you watch this and think it was smart to move this guy out of the finance critic role?”

https://twitter.com/SpencerFernando/status/1385307368943087616

Poilievre posses the kind of public speaking ability that can shift large percentages of voters, and completely reframe issues.

That gives the Conservatives the ability to play offense and actually strike at the heart of Liberal claims, rather than the sad and desperate pattern we are seeing of the party trying to shift towards the Liberals and always playing defense.

Instead, they replaced Poilievre with someone who – while seemingly nice and competent – doesn’t even come close to having the same persuasive skill.

Canada needs politicians like Poilievre

The fact is, Canada has few leaders willing to actually admit what is happening.

Our country is embarking on a dangerous – and radical – experiment of pretending that economic reality and the lessons of history can be ignored.

But for us to get off this path and return to common-sense, we first need our fellow countrymen and women to see that there is a problem in the first place, and Poilievre’s speech on Modern Monetary Theory is a step in that direction.

That’s why we should encourage as many people as possible to watch his remarks, so please share this article widely to help spread the word.

Spencer Fernando

Photo – YouTube

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