[Aarongavey]

Originally Posted by Firebot

There's nothing scary about what Poilievre is saying. He's right that crypto offers opportunities to shield yourself from the market, much like buying gold is considered a hedge. Of course the extreme volatility of crypto makes it a very poor investment for anyone risk adverse and I don't agree with his premise and as seen, crypto is most definitely not something you put all your eggs in one basket. I don't find his comments scary however.

It is safe to say that crypto is just a bad investment. No need to qualify it.

And the BoC's head should be fired. To make continuous claims of transitory inflation last year, refusing to heed warning signs while simultaneously opening the floodgates to free cash by stubbornly keeping rates to historic lows, he's now playing catch up by forcing in a hard recession on Canadians to avoid certain economic catastrophe, the genie is out of the bottle.

inflation in 2021 was 3.4%. Excluding energy it was 2.4% which was slightly higher than the 2.3% it was at in 2019.

https://financialpost.com/news/econo...rate-at-0-25-2

This? 7 months ago. According to the BoC we should be close to 2% inflation by now. They had plenty of time to move on this but chose to do nothing instead and deny any issue.

. We are in the first half of the year still. So not sure we should be at or close to 2% right now.

The Bank of Canada head literally told people to go out and buy houses and take on historic debt to do it. The BoC directly misled many people into likely losing their houses and lose everything they have in the upcoming years. That's not scary?

is there an article where Macklem actually is quoted saying what you said he said?

Crypto investment most certainly can be part of an investment strategy in the long run, which is currently hampered by bans and limitations by Canadian banks.

safest play now and for the future is to short crypto, in that scenario it certainly can be an investment play.

Is it a good idea to promote it to financially illiterate Canadians? No, but we just had the BoC telling the same financially illiterate Canadians to splurge on housing with debt.

is there a quote in an article where the BoC said this?

So I don't see his comments as scary. There are much scarier real actions happening right now, including C-11, then a politician promoting crypto.

A politician promoting crypto is just funny while it crashes.