LETTER

The cupboard cannot be bare!

 

After the 2008 financial crisis, central banks created trillions of dollars to bail out big banks and corporations. Under Canada's Economic Action Plan, our government stepped up with a $200 billion package for troubled lenders - the Extraordinary Financing Framework.  

In normal times, bankers don't like it when governments create money. The more the government uses its own central bank to fund infrastructure, the less the financial institutions can create their own monies and lend them for the same purpose at market rates of interest.

When Finance Minister Bill Morneau tells his ministers "the cupboard is bare", he is misleading the Canadian people and serving the interests of finance capital who profit most when extracting the maximum from the Canadian public.

Larry Kazdan, Vancouver, B.C.