Countless articles, countless blogs, and countless opinions of what the B of C next move will be. Let me add one more to the list. Who cares?
I have personally, written, responded, argued, and supported countless articles, opinions, and thoughts about monetary policy and the Bank of Canada’s role in the economy. To no avail in the publics eye. So, to circle back to my original supposition, who cares? Apparently, no one.
The Bank of Canada is “a special type of Crown corporation, owned by the federal government, but with considerable independence to carry out its responsibilities. The Governor and Senior Deputy Governor are appointed by the Bank’s Board of Directors (with the approval of Cabinet), not by the federal government”.
In others words, we the people own the Bank of Canada. The Federal Government is responsible for the B of C. Whether or not it allows the Bank to have ‘considerable independence’ or not, is up to us, ‘we the people’. We voted this government in, we continued to be silent when we should be outraged, and we continue to allow them to Govern. Canadians deserve better. Time to speak loud and clear to ALL government, that you have made a mess, an ugly mess, we expect you to clean it up.
Next time you vote ask yourself these simple questions. Do you deserve relatively stable prices? Do you deserve access to cheap capital and financing? Should the Bank operate with “considerable independence”. And finally, what happened to government accountability?
These Jar-Heads that run the Bank of Canada do not hold elected positions, they are accountable to no-one, and they affect and hold hostage millions of Canadians lives and livelihood. Who cares? You should.
