The apocalyptic fear-mongering and breathless conspiratorial hints of your comments is beneath you. You're playing to the Zerohedge crowd. I understand the seductive appeal of such theories reducing complicated things into simple binary solutions, it's the foundation of pretty much all social media and resulting polarization of politics and society. But I didn't really expect it from an airline pilot, a profession I perhaps incorrectly, tend to hold to a higher standard of critical thought.Eric Janson wrote: ↑Fri Apr 24, 2020 12:36 amWell this is good opportunity for you (and others) to learn something about our Economy.CaptainKirk wrote: ↑Tue Apr 21, 2020 9:22 pm I think the public won’t put up staying home for much longer. It goes against your civil rights to tell you how many people can gather within your own home.
The prolonged affect of isolation will cause more damage than being infected. We live on an economic planet.
The economy needs to keep moving forward to prevent more severe consequences.
Captain Kirk
Start by typing "Money as Debt" into a search engine and watch the video.
If you want more information "Fractional Reserve Banking" will also bring up some very interesting articles.
Then do some research into "Derivatives" - and find out that there is a Quadrillion Dollars (I had to look it up - a 1 with 15 zeroes) of unfunded liabilities out there (about 15 times Global GDP).
Then type in "Bank of Canada" and learn how it's not the Government but a private banking cartel that controls the money in Canada.
Do some research on the Rothschilds.
It's possible the Corona Virus is the trigger that will collapse the entire Financial System (just a bit earlier than what would have happened anyway imho).
If you want a fascinating series about money try "The Ascent of Money" by Niall Ferguson - the BBC doc, not the book. It'll give you some context on the ever-popular mythology surrounding the Rothschilds. It's no secret there are ultra-rich families and conglomerates that exert disproportionate influence around the globe. Canada itself is basically a country founded by robber barons whose descendants and successors continue to run it today. And...? Human nature is not a conspiracy.
The BoC is separate from the "Government" as a Crown corporation by intent, as an attempt to reduce political meddling in economic policy. Same as the US Federal Reserve. The central banks set economic policy, the politicians set fiscal policy. How effective that separation is, you can decide for yourself. It certainly helps to have strong leadership, I happen to think the last truly brilliant governor was David Dodge.
If you're going to predict a possible "collapse of the entire Financial System", you're going to have to define what you mean by that term. It's generic to the point of being meaningless. We were far closer to a collapse in 2008 with a near-total seizure of liquidity. THAT was a "Financial System" crisis. The coronavirus is a medical/health crisis, which is a crucial difference. Of course it is having massive economic consequences, idling much of the world's economy. It's certainly highlighted the weaknesses of globalization with regards to supply chains (particular the folly of relying heavily on a totalitarian regime for many vital supplies), but that same coordination of global central banks is ironically probably the best defence against said "collapse".
I'm not downplaying the economic seriousness of coronavirus. But an outlook that only predicts failure is not balanced.