And The Budget Will Balance Itself

Certificates of Confiscation;

As of Q4 2020, Canada’s total credit to the non-financial sector sits at a staggering 359% of GDP according to the Bank of International Settlements. This is one of the highest totals in the G-20, right alongside Japan. The Japanese economy has been suffering under a mountain of debt for decades, with current credit to non-financial sector debt sitting at 418% of GDP. In other words they’re caught in a debt trap and haven’t been able to raise interest rates for over two decades. The Bank of Japan has been forced to keep interest rates pinned to the floor, requiring them to soak up government debt in order to keep bond yields and thus borrowing costs stable. The BoJ now owns over 48% of the entire bond market.

Back to Canada, where the debt loads are marginally less bad. Interest rates are frozen at zero and the Bank of Canada now owns 40% of the total government of Canada bond market. Are we turning Japanese? Sure looks like it.

Don’t forget, Canada & Japan are not alone. Most of the developed market is saddled with heavy debt loads. So now what? Financial historian Russell Napier suggests there are really only four policy options.

Related: Inflation hits 18-year-high with election just days away

25 Replies to “And The Budget Will Balance Itself”

    1. Exactly right. Central bank digital currency, social credit scores, digital passports, “guaranteed basic income” = no personal property, no freedom, no pursuit of happiness, no independence. Frankly, no need for the ruling predator class to keep many of us around anymore. Depopulation will be the object. No idea how long it will take to accomplish, but the ultimate goal has been identified.

      PS: Don’t think that Canada is doing all this on its own. Since the Financial Panic/Crisis of 2008/9, ALL the central banks of the world, yes, even the BOC, have been engaged in stealth operations, exchanging massive currency swaps with each other behind the scenes and off the books. A glimpse of the truth was obtained by the partial Fed audit that was performed at the behest of Ron Paul years ago, when he was the chairman of a financial sub-committee. The Fed had always categorically denied these activities with other central banks before the partial audit revealed the truth.

      No one country will go down on its own. The entire system is thoroughly interconnected with debt-based fiat.

      1. Depopulation has been taken care of. The vax will cause prion disease from misfolded proteins generated by the mRNA – do we really believe that trillions upon trillions of molecules injected are all 100% perfectly formed spike protein templates after storage, transport, handling, dilution, exposure to EM fields, etc, etc? Nope. Plenty will generate defective proteins, some folded as prions, that will take 2-3 years to progress to full blown spongiform encephalopathy, causing a wave of 10’s of millions of dementia patients washing over our healthcare systems. Recent legislative changes in many countries that allow assisted dying/MAID/euthanasia EVEN for patients lacking mental capacity will be the basis for culling these vax victims “humanely”. And in a planned narrative it won’t be blamed on the vax, it will be blamed on the food supply, justifying a mass slaughter of protein leaving the control of meat products in the hands of a few elites. And of course, saving the climate by getting rid of all the cows which is another goal of our eco-zealot masters.

        1. to progress to full blown spongiform encephalopathy, causing a wave of 10’s of millions of dementia patients

          I just had a flashback to H. G. Wells’s “The Shape Of Things To Come”…well, the movie version anyway.

          There was a scene after the years of global war when people developed a mysterious “wandering sickness”, which would possess the sufferer with an irresistible impulse to walk aimlessly and incessantly like living dead.

          Wells was a Fabian socialist, wasn’t he? I guess they had the blueprint mapped out some time ago.

  1. Interesting. As an old man retired on my own dime I have watched the purchasing power of my retirement money be whittled away by government inflation for 17 years now and it is not at slow pace. Looks like my having a 10% annual buffer built in will not be enough. Fuck I hate stupid people.

    1. Here, I’ll give you a nail…

      For want of a nail the shoe was lost.
      For want of a shoe the horse was lost.
      For want of a horse the rider was lost.
      For want of a rider the message was lost.
      For want of a message the battle was lost.
      For want of a battle the kingdom was lost.
      And all for the want of a horseshoe nail.

      This pretty much describes our supply chain.
      From our global manufacturing partners.
      Those secret trade deals that your not allowed to see.
      Our politicians promises can’t be fulfilled!

  2. Here’s a neat what if.

    If a country goes bankrupt would that not mean their bonds become worthless?

    It’s like the guy that every one knows is broke but they keep quiet and don’t kick him out of the club until his credit card is denied.

  3. Did the idiot not say we’d have to forgive him but he wasn’t concerned about the deficit at this time?

    1. I think we have a serious part supply problem that our going globalization in supply chain has created.
      This internet NEEDS many crucial parts like a vehicle. Now if those parts can’t be obtained, what will happen…
      Not too hard to see where everything crashes and burns that is on the internet.

  4. Bring in 30 million, 60, 90 million Chinese, Indians, Afgans…..Vola!….dept per “subject” cut in half, thirds,…quarter.

  5. This is all gibberish to the average voter. Hell, even Justin doesn’t have a clue what this all means.

  6. I wonder if option 1 (high real economic growth) would occur if we were somehow able to have all of Europe and North America abandon the climate scam.

    1. Anything that slows the suctioning of earnings out of peoples’ pockets AND gives renewed vigor to industries that produce real wealth would be a benefit. So, yes.

    1. “Back Broker” would be more accurate. The government isn’t the least bit interested in building anything outside of Quebec, unless it’s in a third world country which might help Prinz Dummkopf in his sucking up to the U. N.

  7. As my Old Polish Friend Stanley who survived the Warsaw Ghetto. Would say when things looked very bad. “We Were Fucked Right On The Bed In The Name Of Jesus”

    The only Blessing I can see is the approaching break up of the Canadian Penal Colony.
    The Debt Load of all our governments in the Penal Colony, The Municipal, Provincial, Federal and all the Crown Corporations Debt have reached levels that can never be supported by our small tax base.
    They already sold off all our National Gold Reserves, our Total Government Debt is over 6T now, more than all of the EU nations excepting Germany. More than Italy, France Spain, Portugal all of them Greece etc. Our GDP in 2020 was 1.6T which is BS I think because it was mostly printed money. So debts of over 6T income or GDP at 1.6T those numbers tell me, Canada will never recover.
    Next will come the shutting off of all of Canada’s Social Safety Nets. Who gets cut first? Ha Ha Ha.
    How much more can Ottawa squeeze out of the TAX PAYERS ASS.
    Like Stanley said. “Fucked Right On The Bed”

    1. ‘Who gets cut first’

      All his life the sheep lived in fear of the wolf and depended on the shepherd to look after him. But in the end it was the shepherd that ate him.

  8. As the big pig said to the little pig “When eating at the trough, look over your shoulder every once in awhile. First to run, last to get eaten.”.

    1. Watcher, If we ever decide/agree to calculate the true cost of surviving this deliberate global attack, we might still have a chance.
      Sorry, I’m not at all hopeful.

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