The Great Inflation Conspiracy

After years of economic turmoil and a pandemic, inflation has begun to outpace remuneration again. Even though wages have risen for most and working conditions have improved, it continues to be harder to make ends meet.  Inflation is a method perpetuated by banks and the ruling elites to offset the loss of the worth of currency and increase their wealth. The root cause is the capitalistic pursuit of profit and should we stop calling it inflation and call it what it really is, Price Gouging and Corporate Greed.

A good example is the 39.8% inflation in fuel in the last year. Sure, many conditions have affected the price of gas with the carbon tax, price of crude, and war, but even back in 2008 when crude sold for $184 a barrel, the price of gas was only hovering just above a dollar a litre. Now crude sells at $120 a barrel and Canadians are paying 2 dollars or more per litre. The math doesn’t add up.

Every year gas stations raise the price of fuel just before long weekends and summer when people travel more. Their excuse for raising the price is that with more fuel being used the gas reserves become lower with the higher demand making the fuel a more valuable commodity. Calgary-based Canadian Natural Resources Ltd. reported a net profit of $3.1 billion in the first quarter of 2022 and last year during the pandemic they even raked in a $1.38 billion profit when crude dropped down to around $50 a barrel. Are these excessive profits necessary, especially in a crisis?

Back in 1979, Canada changed from the imperial to the metric system. The price of gas was equivalent to 17¢/litre before the conversion and became 19¢/litre after the conversion. 43 years later we are paying 10 times as much because of inflation that was created by the ruling elites to increase their wealth. The corporate greed of excessive profit needs to be converted into a system of a sustainable economy where well-being and not wealth is the main objective.

The Bank of Canada was created in 1935 by the federal government to control the mismanagement of wealth by independent banks with their own currencies that caused the Great Depression. In times of crisis, the Bank of Canada expands its balance sheet, as it did in 2008 to $78.3 billion from $53.7 billion the previous year. This devalues our currency and creates inflation. If the banks are there to manage the economy, why do they make such ridiculous profits, especially during a crisis? Let people keep their well-earned wealth.

There are many reasons why inflation happens; crises, pandemics, economic downturns, scams, and excessive credit are a few manmade reasons. No matter what the reason, inflation is a variable added to the economic demise. The average citizen now does not earn enough money for living without stress because of inflation so we either have to work harder or invest some of our income to hopefully earn additional funds. With the internet explosion of gambling and newly made-up digital cryptocurrencies created by the capitalists to get your hard earn money while increasing their wealth.

Inflation is perpetuated by those few making the rules to control societies’ imposed obsession with the acquisition of wealth. To eliminate inflation, we need a more sustainable economic system without greed. The more people who speak out, the better the chance of positive change. Become part of the M.A.D. Movement and Make A Difference by getting involved in creating a sustainable economy that benefits all instead of only a few privileged individuals.