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Decentralized Democracy

House Hansard - 266

44th Parl. 1st Sess.
December 12, 2023 10:00AM
Context: House Hansard - 266 - Dec/12/23
Hon. Pierre Poilievre
  • Dec/12/23 5:26:53 p.m.
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Mr. Speaker, there is no limit to my speaking time, just like there is no limit to Canada's potential, if only we had some common sense. The reality is that when we create $600 billion of cash and we flood it into the financial system, that money is then lent out to those who have connections to that system, and those people bid up the cost for everybody else. That is why, in the early months of the pandemic when everything was crashing, the billionaires were suddenly getting richer. Why were they getting richer? The economy was crashing. Well, of course, all of their asset values were being inflated by insane money printing supported by every party in the House except for ours. Ours was the only one that worried that this crazy money printing would do exactly what it has done every single time it has been tried. When I produced the evidence of this in the documentary, all of the “bought and paid for” media said, “Oh, this is an outrageous explanation”, but they have not once provided a shred of evidence that it is not true. Look at the graphs the Bank of Canada itself produced. It demonstrates there was a massive flooding of cash into the real estate market through the vector of the same financial institutions that had profited off of quantitative easing. I find it interesting that the NDP, which claims to be so concerned about the gap between rich and poor, saw absolutely no problem with the government creating all of this cash and pumping it into a select group of financial institutions, which happen to have the privilege of being members of Payments Canada. They had been eligible to receive the cash before anyone else and before it lost its value, and saw all of their net worth explode all of the stock values artificially pumped up. Then the resulting consumer price inflation chewed up the paycheques of the working poor. It was a direct transfer of wealth from the have-nots to the have-yachts, and the NDP supported it 100%. NDP members talk about these little, itty-bitty wealth taxes that they claim to want to bring in that amount to $100 million here and $1 billion there when we are talking about $600 billion that was flooded into the financial system to the benefit of the wealthiest—
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