Bank Of Canada Feeding Inflation and Debt?
(The CFP- CDN Federalist Party is a Virtual Centrist Political Party with a 100 Year Vision for Canada envisaged by Jim Reid.) Canadians from coat to coast to coast are "Mad as hell and will not take it anymore". The Bank of Canada increased lending rates to the Big-Banks' oligopoly, which immediately and unilaterally passed each rate increase onto the mortgages of over 2 million Canadians. The average mortgage on detached home properties is $300,000. These increases until December 7, 2022, added $7,500 extra interest to these Canadian homeowners' mortgages. To be approved, Mortgaged homeowners had to accept the Bank's right to increase their mortgage rate without dispute. If Canadians refused to pay the higher interest rates, the Bank could force their customers to sell their properties to pay the mortgage off. In my opinion, such threats are very similar to how criminals extort money from families. The BOC claims these rate increases, which extract another $2