Despite the official pronouncements, the main concern of central banks is not inflation or unemployment, but rather the solvency of the banks within their purview. When a bank runs into balance sheet trouble, the go-to solution is to quietly extend more credit on easier terms. The public will be the last to know which bank received the bailout just so depositors don’t get spooked.
What The Hell Is Going On At The Bank Of Canada: $30B Just Went Where?
The Bank of Canada has just provided the "Financial System" $30B but where did it go?
6 times recently the BoC has sent $5B somewhere
They won't tell us, they are allowed to keep it secret
2/
— Ron Butler (@ronmortgageguy) January 10, 2024
The author asks what the hell is going on?
Apparently, he missed the little thing that changed in 2015.
You can’t wash a “Turd”. All that does is pollute downstream. Sad situation.
bverwey
So is the BoC giving out money for parties to buy BoC bonds that the bank holds?
or just bailing out banks that planned poorly?
or just printing more justin bucks
Mortgage defaults must be getting pretty high now.
https://www.howestreet.com/2024/01/the-fate-of-the-housing-market/
And still our politicians impose more crap to fix the old crap.
just spitballin’ here; deposit on f-35s?
turd is duplicitous to all.
I stopped leaving money in Canadian banks after Turdo and Squeaky Smirk froze bank accounts. My pension goes into my credit union and immediately goes out into other things elsewhere. Canadian financial institutions cannot be trusted.
Those who believe that credit unions fall out side of government control are not paying attention.
The whole thread readable without an Xtwitter account in Nitter:
https://nitter.net/ronmortgageguy/status/1745079800811647017#m
And #2 is the first tweet.
They sure are getting good at kicking cans down the road.
And I only hope soon there is a cliff for the cans , and the crony capitalists to fall off of.
Then finally we’d have an organic crisis brought on by blind greed , mismanagement , and a willingly blind electorate.
It won’t be nice but the madness has to end somehow.
It will. That’s what the ‘Great Reset’ is all about.
It’s amusing to hear fiscal conservatives (of which I’ve always been one) still crowing about managing the debt, service payments, the burden left to our children and grandchildren, etc. Unfortunately, with regards to being able to somehow manage it, that ship sailed long ago. How will government ledgers ever be balanced? What about unfunded liabilities of government pensions? Why would western governments not care about fiscal restraint? As a country, we’ve been bankrupt for a while now.
What’s happening is the a deliberate, coordinated, controlled demolition of the world economy in order to ‘reset’ every balance sheet. What things look like once that happens has been speculated about – ubi for all, digital currency, monitored and restricted movement and consumption, etc.
We’re being herded, driven, into this. We’re being attacked on all fronts – culture, family unit, climate paranoia – not just economically. It’s all part of a whole to facilitate the coming dystopia that powerful, megalomaniac, psychopaths have envisioned.
$30 billion? Must be more than just the Laurentian Bank in trouble. Its total assets are only $50 billion.
Offshore accounts don’t just fill themselves automatically. And given the way the stupids (aka us) are “causing” inflation by wanting to buy food and other “necessities” our “betters” need more of a hedge for when they’re no longer “in power”.
Hmm. A few too many “”””””””””””””, but I think everyone gets the “point”.
To answer the question who:
Who is it that has been spending 30 billion more than what they budgeted for and has a line of credit with the BoC.
End result is that everyone else is now seeing the Canadian dollar as a capital loss and its value is going down and inflation is going up.
Usually takes about three months for the report to come out due to the ones getting the loan are also the ones doing the report.