Re. William Zavers letter Not surprised by writer (Castanet, Nov.22)
Letter writer William Zavers criticizes the Conservatives in a veiled attack on (party leader) Pierre Poilievre's advice to invest in cryptocurrencies.
This happened around sixmonths ago as Bitcoin, Ethereum, decentralized coins and NFT's were bullish and delivering good returns for investors. There were many exchanges and other platforms offering good yields and staking of coins seemed like a solid sustainable investment vehicle.
Of course Poilievre was right to suggest they offered Canadians sound investment opportunities, albeit at some higher risk. At the time of his guidance, I was happily making around 10% monthly yield from my crypto investments, while also knowing they were high risk/high reward methods of making money.
Of course Poilievre didn't know a fairly coordinated attack on cryptocurrencies by elements in favour of competing central bank digital currencies would undermine their value. Nor could he foresee the NFX disaster that unfolded.
He, like any other commentator, might have been fair in saying some of the lesser exchanges and other platforms were at an expected risk of failure, but his ongoing narrative didn't include being any sort of self-proclaimed expert in that investment niche.
To put this in a wider context, had Canadians invested a very moderate amount in BTC a few years ago, they would have been able to cash out as millionaires in 2021-2022. But it should be duly noted by his critics that, in an interview on YouTube (with Tahinis Restaurants), he did indicate the risks and that BTC value could go up or down.
We now have federal Finance Minister Chrystia Freeland attacking and criticizing Poilievre for his cryptocurrency opinion at that time. Well, Madame Finance Minister, we can all be clever with hindsight. Perhaps you yourself could review your budgetary decisions and finally stop spending money that the country doesn't have, other than taking yet more from taxpayers coffers to fund your spendthrift ways.
Freeland should have already recognized many months ago her lack of monetary control has caused inflation and many months have passed since the government coffers should have been locked tightly shut away from the hands of thoughtless and irresponsible federal spendthrifts.
Poilievre need not apologize for having a lack of hindsight. The cryptocurrency crash that happened recently was contributed to by most of the G20 nations' abysmal financial and monetary policies. Canada, the U.S., U.K., Germany and most E.U. nations have run completely out of control and seem to have no handle on how to turn things around.
In the U.S., the Federal Reserve has a no-win policy option on attempting to control inflation. Similarly, here the Bank of Canada has proved useless at reigning in government spending to control inflation.
We see a general trend occurring where Liberal ideologies encourage observers to sit on the sidelines doing nothing to intervene while the country careers out of control, yet willing to eagerly intervene on attack mode any time they can see an opportunity to criticize.
They use this as a PR tool, yet they fail to see the damage to their own PR that their awful neglectful fiscal policies have caused.
The public is now waking up to the problems of GDP, national and public sector debt, poor productivity and a social culture of anticipated and expected handouts and the donation of monies for virtue signalling, vote-buying purposes.
Zavers fits the same profile of stereotypical Liberal attacks, instead of looking holistically at the wider problem and the abysmal state of the nation. Admission of the problem then allows us to focus on solutions.
Wisdom begins in taking decisions now that can affect the future, such as stopping carefree spending, ceasing the donation of taxpayers funds to other parties, and securing our financial future through preservation of our own energy supply over ideology and "global" agendas that do not serve Canadians.
That is why Poilievre continues to push the anti-inflation and spending agenda. In addition, he would ban a Canadian digital Toonie, thus protecting Canadians from being further financially undermined, their savings devalued and protecting them from exposure to abuse from malevolent and predatory central bankers.
Ricky Daytona, West Kelowna