[275] Canada's currency war

Bank of Canada governor Stephen Poloz said early Wednesday that the drop in oil prices is unambiguously negative for Canadian economy. As a result, the Bank of Canada unexpectedly cut interest rates by a quarter-percentage point to 0.75%, sending the Canadian dollar to a six-year low against the US dollar. In effect, the Bank of Canada is following the lead of the Swiss National Bank both in making an unannounced and unexpected policy decision and in noting that it expects US growth and US interest rates to remain higher than elsewhere in the developed world. Edward Harrison weighs in. Then, Edward is joined by Jim Rickards – chief global strategist at West Shore Funds and author of "The Death of Money.” Jim gives us his take on the Canadian central bank’s moves and how it plays into his currency wars thesis. Jim also tells us what to expect from the ECB regarding quantitative easing. After the break, Erin Ade is joined by Naomi Oreskes, professor of the history of science at Harvard and author of "Merchants of Doubt.” Naomi tells us how some climate change skeptics learned their tactics in the Tabaco Wars. She also gives us her take on how climate change should be incorporated into public policy. And in The Big Deal, Edward and RT correspondent Ameera David discuss Google Glass and why it is running into difficulties. Take a look! Check us out on Facebook: http://www.facebook.com/BoomBustRT https://www.facebook.com/harrison.writedowns https://www.facebook.com/erinade2020 Follow us @ http://twitter.com/ErinAde http://twitter.com/edwardnh

Comments

1. Everything is working as planned for Poloz. Oil is below 40 dollars a barrel U.S. Canada went into a recession and emerged thanks to all the dough given to everyone to buy votes to re-elect the conservatives. Now that the money has been spent GDP has turned sharply negative again. Canada is headed back into recession followed by depression. The seniors are all broke thanks to zero interest rate policy and everything costs a lot more as the Canadian dollar sinks further. Yes everything looks great going forward.
2. This guy looks like Gus from Breaking Bad.
3. the US are the ones that are forcing Arabia to lower the oil prices and it is indeed hurting Canada more then anyone including Russia if you ask me Canada needs to make a complete lockdown on its borders with the US therefor forcing them to restore the Oil prices yes this would hurt both of us but the US cannot survive without the Canadian exports
4. lol @ this reporter's dead fish eyes. is he blind? if not he'd make an excellent poker player lol.  watching this because i just got short $CAD.  HELP!!!!!!!!!
5. But gas is up @ the pumps now in Alberta and yet oil is low ! What is going on ?
6. All to punish Russia and look what they have done to their own economies, the fools.
7. RT is funding a charleytan in Thom Hartmann to produce global warming crap.
8. The big issue with the bank of canada is its just like the FED! We all need to get rid of the rothschild banksters and take control of our own destiny
9. I want the governments of the world to introduce a new global tax, it will be a tax to support me....because you need to pay for my upkeep since you have me on the earth, I am that special, ....This position of mine is equal to what ?............  =  AL GORE AND  CARBON TAX,   Wake up people and smell the fucking coffee
10. 12:45 is that how much gold, oil and bitcoin went up against the dollar and what are they measured in? pounds and barrels? or is that their price against the dollar and the arrow just means its more than before.
11. The "hot climate coming" people need to simply study the climate change observation in history plus learn more about electricity in space to understand what is happening. Did you know the sun's "heat" goes up and down through history ? If you don't, check it out.
12. black guy > white bitch
13. They are each just equalizing money values to begin equality for the new dollar currency adapted to the Western Hemisphere. The Euro may have to compete with the Yuan,  for the entire Eastern Hemisphere. Eventually, there will be only one name for these money values worldwide. The New World Order will pick a name & value that is adopted world wide. All these scare tactics, negativity, & fear spread by this younger generation will cost them deep poverty and suffering. Most of the seven billion people on earth are cheerfully optimistic for our future, like me. These fear peddlers are few. they cannot exist inside  the" Light of Day". Their negativity dooms them!
14. The lady speaking at 21:20 and later is scientific idiot. The Earth’s climate is not all that sensitive to CO2, but the oceans acid levels are. The only real way to keep the lights on without adding CO2 into the atmosphere is NULCEAR power, both Uranium and Thorium based, but the rabid environmental crowd is adamantly against all nuclear solutions.
15. The climate change promoter is flat out lying.
    
    Thousands of reputable climate scientist agree there is no global warming and NO justification for alarm.
    
    Those who hate 'capitalism' ie the WEST, and want to tax tax tax of course disagree.
    
    Why do they DENY reality??
16. There are at least two Professors of scientist from Harvard that say man made global warming is not true, or even based on real observable scientific evidence. Those scientists are experts in the climate fields not history professors. On the other hand you have this lying Jewish HISTORY prof. calling them denyers and attacking them with completely unrelated crap and like they are nazi's denying the holohoax. Fuck RT and their Socialists, eugenics agenda of murdering tens of millions, possibly hundreds of millions of people based on lies like WMD's in Iraq.
17. Its best time and worse time to invest in oil fieLDS atm, price of oil is on a freefall so is the land price for drilling oils, I suspect it takes at least 5 year until the price bump up to original stat, and takes another year for oil companies to get back at its feet.things like HIring workers to raise local economy.
18. The climate has always changed but "real science - independent - non associated scientists that I've heard from" have shown that there is no change in the average temperature of the world.  Winter still happens as it always has, spring summer and fall too.  So don't give me the BS and tax me for carbon use (what a scam!).  Yes climate change is real - it happens every spring ;)
19. What is the model(s) that allow us to move forward? Permaculture, Cob construction and Resource Based Economies!
20. why is Gus Fring on RT?