Bank of Canada uses COVID-19 to promote 'Great Reset'
By Samuel Rz, founding editor at Westphalian Times. Make sure to subscribe to my substack below to get live breaking news and analyses in your mailbox. Follow Westphalian Times for honest journalism.
You might think Central Banks are not in the business of ideology and dogma… well, if you live in Canada, then you are wrong.
A few weeks ago, Justin Trudeau made headlines when he mentioned the ‘Green Reset’ during a livestream.
The "great reset" is essentially the idea that the COVID-19 pandemic is a good opportunity to "reset" the economy and create a new system around "climate change", "green energies" and "wealth redistribution".
“Building back better means getting support to the most vulnerable while maintaining our momentum on reaching the 2030 agenda for sustainable development and the SDGs (Sustainable Development Goals)” Justin Trudeau said during his livestream.
“This pandemic has provided an opportunity for a reset – this is our chance to accelerate our pre-pandemic efforts to re-imagine economic systems that actually address global challenges like extreme poverty, inequality and climate change”, Trudeau added.
Jamie Redman wrote about the Great Reset: “In fact, the World Economic Forum (WEF) has been promoting the concept for years, and back in November 2016, the WEF tweeted about eight predictions for the year 2030. The WEF 2030 prediction tweet describes a world where, “You’ll own nothing, and you’ll be happy” and the short clip says that everyone will rent everything they need”.
A presentation titled “The Great Reset” from the Bank of Canada dated August 20th, 2020 was recently unearthed.
The presentation by Paul Beaudry, deputy governor or the BOC expands on the great reset as way of “supporting the transition to a greener, smarter economy”.
The presentation expands on the different roles of governmental and financial actors in “facilitating a transition”. Roles are laid-out for governments, corporate sectors, households, financial sectors and central banks, all of which should contribute in the “transition”.
The presentation models the global oil production with and without the Paris accord targets. A near-Paris target simulation would see oil production fall by 2030.
The presentation is mainly insignificant but offers concerning insight into Canada’s direction.
Even the Bank of Canada has become politicized to the point where it serves Justin Trudeau’s radical project of a ‘great reset’. This is not something the Federal Reserve would promote. It is highly political and partisan.
While hundreds of thousands of Canadians are losing their jobs due to a second wave of lockdowns, the BoC does not seem to be concerned with the long-lasting effects of their mind-boggling quantitative easing and asset repurchase programs.
For decades to come, Canada might face rampant inflation and low-wage growth due to its staggering public-debt and its low economic growth. The Bank of Canada should be planning out a strong monetary recovery and Ottawa should be coming up with a policy plan to boost up growth.
But it seems that the only concern to our elite is a ‘great reset’ in which the ‘green energy’ sector will be given unprecedented opportunities to enrich themselves by providing flawed technologies that are not yet ready for mass-adoption.