What is the percentage of people that understand what a central banks is, or how money is created? The vast majority of Canadians have no idea how the system works, yet money is perhaps one of the most important aspects of our lives.
At the onset of the pandemic the Bank of Canada was purchasing about 40% of new government debt issuance. And now the pressure is heating up as opposing politicians demand to know what the exit strategy is. The truth is, there isn't. The central banks are working almost directly with fiscal policy, essentially enabling these programs.
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