Woooow kudo’s to Martin Masse of the Financial Post for writing this article. I’m actually a little surprised that it was published in such a main stream publication. It’s a great piece on Canada’s central bank and their history of protecting the value of the dollar… or attempt that is. If you think that the US Federal Reserve is the only central bank running havoc on their domestic paper currency think again my friend.
A good start to understanding the real nature of central banking is the libertarian bumper sticker saying “Don’t steal! The government hates competition.” The whole purpose of the bureaucratic machine called central bank is indeed to steal from us… When you get to the Bank of Canada’s Web site, it says “We are Canada’s central bank. We work to preserve the value of money by keeping inflation low and stable.” Do a little search on the same Web site, however, and you discover that since the Bank started its operations in 1935, the dollar has lost about 94% of its value. A basket of goods and services that cost $100 in 1935 would cost $1600 today. That’s some preservation!
– Martin Masse, Financial Post
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