Because this is the age of disinformation, it’s good when institutions start recognising that and offering plain-language explainers to help dispel the falsehoods that are swirling—especially when those falsehoods are being spread by sitting MPs and leadership candidates for political parties. In this case, it’s the Bank of Canada, and the notion of whether they printed money during the pandemic. They didn’t, and they had explainers on their site before, but this is much more accessible, which is really necessary right now—particularly given that the government can’t communicate their way out of a wet paper bag, which makes the job of defending institutions even harder (especially as the media is pretty much useless in this endeavour as well, too content to simply both-sides everything).
The pandemic has been a crisis like no other.
As a result, we took various measures, like buying bonds, to support and ensure a strong and stable #economy.
2/6
— Bank of Canada (@bankofcanada) August 25, 2022
Buying bonds also pulled down⬇ interest rates across the #economy.
This lowered the cost of borrowing to help Canadians get through the pandemic.
4/6
— Bank of Canada (@bankofcanada) August 25, 2022
Settlement balances don’t permanently add to the money supply.
Unlike cash, we can remove those reserves from the system. And you can see that we’ve been doing just that.
Read more about how Quantitative Easing works: https://t.co/2BuAiq8ywX#QE
6/6 pic.twitter.com/kjRcC1toYc
— Bank of Canada (@bankofcanada) August 25, 2022
Of course, the replies to this thread are an absolute tire fire, so we’re nowhere near out of the woods yet, but it’s a good first step that needs to happen. (And listen to Captain Pike when you get tempted to read the comments).
Ukraine Dispatch, Day 183:
The Zaporizhzhia nuclear plant was knocked off of the Ukrainian power grid after a fire damaged a transmission line, raising fears that we could be headed toward another Chernobyl-like disaster. (Incoming power is needed for the reactors’ cooling systems, but there are some back-up power supplies). It was later re-connected, but this remains a problem, and radiation from such a meltdown could spread across Europe under the right conditions. Meanwhile, Putin is ordering a major troop replenishment after suffering heavy losses in the fighting in Ukraine.
Good reads:
- Justin Trudeau and NATO Secretary General Jens Stoltenberg toured the radar stations up in Cambridge Bay, Nunavut, as part of the discussions of Arctic security.
- When asked about Jared Kushner badmouthing her in his book, Chrystia Freeland responded about being united and not caving to bullies, whether Trump or Putin.
- Steven Guilbeault his hitting back against a Saskatchewan minister spreading conspiracy theories around Environment Canada water testing.
- The immigration backlog is also affecting student visas, which could affect those meant to be arriving for this school year.
- The RCAF is relocating our air cargo detachment from the Middle East to the UK in order to better serve Ukraine.
- RCMP Commissioner Brenda Lucki says she doesn’t always agree with RCMP discipline and wants to reform the culture…but kept on a sexual offender.
- CBSA says it is investigating what appears to be one of their officers appearing online in uniform to spread conspiracy theories and “advice” on skirting measures.
- The Bank of Canada is looking for a new deputy governor, but this time they are making it a part-time position.
- Here is an explainer about the current conspiracy theories around fertilizer, and the bogus notion that the government is trying to force everyone to eat bugs.
- The Senate transport and communications committee will start digging into the Broadcasting Act changes before Parliament comes back.
- Scott Aitchison called out Leslyn Lewis’ post about the Nuremberg Code, and she called him a racist, so the leadership is going well.
- Here’s a look at why the UCP leadership candidates are all talking sovereignty or autonomy, never mind that they’re inventing grievances that don’t exist.
- Jason Markusoff has a breakdown of the UCP membership sales per candidate.
- Heather Scoffield grouses that the details of the deals signed with the German auto manufacturers for EV components aren’t being made public.
Odds and ends:
Politics is often about crafting a statement that is technically correct but which allows for misleading impressions to be drawn when those impressions can be politically beneficial. In that light:#cdnpoli #cpcldr
1/12 https://t.co/N1FxPDBtiL— Timothy Huyer (@tim4hire) August 25, 2022
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