{"id":25395,"date":"2017-09-08T16:37:15","date_gmt":"2017-09-08T21:37:15","guid":{"rendered":"http:\/\/olduvai.ca\/?p=25395"},"modified":"2017-09-08T16:37:15","modified_gmt":"2017-09-08T21:37:15","slug":"bank-of-canada-shuts-out-free-market-economists-from-key-policy-conference-peter-diekmeyer","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=25395","title":{"rendered":"Bank of Canada Shuts Out Free Market Economists from Key Policy Conference – Peter Diekmeyer"},"content":{"rendered":"

Bank of Canada Shuts Out Free Market Economists from Key Policy Conference – Peter Diekmeyer<\/a><\/h3>\n

 <\/p>\n

Next week\u2019s Bank of Canada policy conference appears set to deliver standard talking points. Not a single free market economist has been invited and a BOC spokesperson confirmed that the alternative-financial press is also being shut out.<\/p>\n

The BOC event, titled Monetary Policy Framework Issues: Toward the 2021 Inflation Target Renewal <\/a>, takes place during a critical time for Canada\u2019s central bank.<\/p>\n

Bank of Canada economists emerged from the 2008 financial crisis red-faced, after having failed to predict the event in advance, despite the clear warning signs and having some of the country\u2019s most respected practitioners on staff.<\/p>\n

The BOC then had to bail out Canada\u2019s big five banks, whose solvency the monetary authority is charged with overseeing.<\/p>\n

Questions regarding Poloz\u2019s \u201ctrickle down\u201deconomics<\/strong><\/b><\/p>\n

Things do not appear to have improved much under the reign of Stephen Poloz, its current Governor.<\/p>\n

The Bank of Canada ranks last among the G-7 central banks in terms of its gold holdings, this during a time of record high Canadian household debts and one of the planet\u2019s biggest housing bubbles.<\/p>\n

There are also increasing questions regarding Mr. Poloz\u2019s \u201ctrickle down\u201d economics strategy, which consists of leveraging \u201cconsiderable economic stimulus\u201d to boost asset prices, in the hope that a resulting \u201cwealth effect\u201d will trickle down to the poor and the young.<\/p>\n

Government-financed academics, officials and a government financed NGO<\/strong><\/b><\/p>\n

A quick look at the presenters at the upcoming event reveals the usual \u201cbroad range of opinions\u201d that Canada\u2019s central bank consults.<\/p>\n

The 20 panelists, almost all of whom are financed or regulated by government, include:<\/p>\n