00:00:00.000Pierre Polyev's derangement syndrome continues, and the legacy media starts to pivot its criticisms towards the broader Conservative Party of Canada.
00:00:07.140I'm Candice Malcolm, and this is The Candice Malcolm Show.
00:00:21.500Hi everyone, thank you so much for tuning into the podcast.
00:00:23.940So one of the major lines of criticism against Pierre Polyev, and no, I'm not talking about how his rallies are supposedly too white, or how he's some kind of a secret white supremacist, just with no evidence, and it's never been proven, but the media love to say that anyways.
00:00:37.480No, no, I'm talking about the way the media react to Polyev's criticism of the Bank of Canada.
00:00:43.080That Polyev has had a very consistent, very clear, concise criticism of the Bank of Canada for its failure, mostly to manage the inflation crisis, and the way that they have printed money throughout the COVID era.
00:00:57.280This has been a consistent topic for Pierre Polyev.
00:00:59.900If you remember, he was on my show two years ago, two years ago, in the beginning of the pandemic, he joined the speaker series that we were doing at the time.
00:01:08.000We did an in-depth interview entirely on this issue of inflation, of the problem with printing money, and how it creates a hidden tax on Canadians.
00:01:16.000You should go check out that interview.
00:01:17.720But you could just see that Pierre Polyev has been talking about this issue in a credible and concise way for a very long time.
00:01:24.080However, as soon as the leadership race got underway, the media started looking at this criticism of the Bank of Canada, making it seem like it was some kind of a criticism that was beyond the pale, that it was outside the realm of acceptability, that what he was saying was dangerous, it was radical, it was populism.
00:01:40.620And the media created this sort of narrative about Pierre, saying that what he was doing was wrong.
00:01:46.420So we've got so many examples of this.
00:01:48.080This is in the Financial Post back in May.
00:01:51.460They say Pierre Polyev says he would fire the Bank of Canada governor if elected prime minister.
00:01:56.560They quote Polyev saying, I will replace him with a new governor who would reinstate our low inflation mandate, protect the purchasing power of our dollar, and honor the working people who earned these dollars.
00:02:06.580That's what Pierre Polyev said during the leadership debate in Edmonton.
00:02:10.820Polyev added that those who caused soaring post-pandemic inflation rates must be held accountable.
00:02:16.580And so this is a line of criticism that Polyev has had throughout the campaign.
00:02:20.740Now, just to show you some of the reaction to Polyev and what he's been saying, really lots and lots of pearl clutching, lots and lots of people saying that his rhetoric is over the top.
00:02:31.140So here's John Ibbotson over at the Globe and Mail saying just that.
00:02:34.380Why Pierre Polyev should reconsider his rhetoric about firing the Bank of Canada governor.
00:02:39.320And Ibbotson writes in this piece, the only way the government can force a governor's resignation is by formally and publicly demanding the bank change course.
00:02:47.980He writes that if he ever does become prime minister, Mr. Polyev should think carefully about using that nuclear option.
00:02:54.640It has only been tried once and it did not end well for the government.
00:02:58.660So it's interesting because basically Ibbotson's making the point that the prime minister shouldn't have this say.
00:03:04.980They shouldn't be able to determine who the Bank of Canada governor is, which is kind of ironic given that the prime minister gets to appoint the governor of the Bank of Canada.
00:03:12.700That's one of the many positions that the prime minister gets to appoint.
00:03:15.880The prime minister gets to make up so much of the federal government and the duties of the federal government in their image, in what they want.
00:03:22.680And so a prime minister has that power.
00:03:25.760He was the one who appointed Tiff Macklin, who is the current governor of the Bank of Canada.
00:03:29.860Again, it's one of the things that the prime minister gets to do.
00:03:32.040So acting like it's so out of step for a politician to suggest that if they were prime minister, they would do things differently, sort of undermines the whole idea of democratic government and elected government.
00:03:42.300Yes, becoming prime minister avails you to certain powers, including getting to appoint people like the head of the Bank of Canada.
00:03:50.260Likewise, we had an op-ed over in the Toronto Star written by Heather Scofield, who said that Pierre Polyev,
00:03:55.760has outrageous ideas about the Bank of Canada.
00:03:58.700His party and his country deserve better.
00:04:01.620So likewise, she writes, the promise or threat to axe Macklin was the logical extension of many months of Polyev lashing out against the central bank,
00:04:10.620accusing the institution and its leader of collusion with the liberal government and deliberate exacerbation of inflation for political purposes.
00:04:17.720Never mind that there's no logic in the call for Macklin's head in and of itself.
00:04:23.100It's such an outrageous and irresponsible idea with so many implications for Canada's economic stability and reputation, let alone prosperity,
00:04:30.780that the candidate and the thinking public just can't leave it alone.
00:04:34.800Let's set aside Polyev's nonsensical statements for a moment to consider what we're left with if the Conservative Party wants to hang on to its reputation as good economic managers.
00:04:44.060So according to this op-ed in the Toronto Star, the Conservatives are not allowed to criticize Justin Trudeau's appointee to the Bank of Canada.
00:04:52.420It is irresponsible and outrageous and it hurts Canada's stability and reputation as well as our prosperity.
00:04:59.420What about the fact that the government has been printing money out of control?
00:05:02.840What about the fact that inflation is rampant and interest rates are going up?
00:05:06.540These pundits ignore all of the facts about our economy and their just knee-jerk reaction is to defend Justin Trudeau, defend his appointees and say that everything is rosy and everything is good.
00:05:26.580Apparently, this is what political leaders in basket case dictatorships like Turkey do, according to this analyst.
00:05:33.540And so again, the media has told us over and over again that it is just so outrageous that Pierre Polyev would even consider criticizing the Bank of Canada for the policies that they have put in place.
00:05:45.760And this criticism has even seeped into Polyev's own party.
00:05:49.060So recall that Ed Fast, who used to be the finance critic for the party, he came out and also criticized Pierre Polyev.
00:05:56.200Now, Ed Fast was co-chairing Jean Charest's leadership campaign, so not exactly a neutral observer here.
00:06:02.740And he came out and publicly condemned Pierre Polyev.
00:06:06.340He said the breaking point seems to have come on Wednesday when Fast told reporters he believes Polyev's vow to fire Bank of Canada Governor Tiff Macklin over the country's inflation rate, the highest it's been in 30 years, hurts the party's credibility on economic issues.
00:06:20.660And so after Ed Fast came out criticizing his own party and the sort of front runner of this race, Pierre Polyev, he came out and said that Polyev and his supporters tried to muzzle him on monetary policy.
00:06:31.820And therefore, he offered his resignation to interim leader Candace Bergen of the Conservative Party.
00:06:37.800So again, this whole drama and the process of infighting between these candidates all came because apparently it was just so outrageous for Polyev to be criticizing the Bank of, the Governor of the Bank of Canada, despite the fact that, yes, we are experiencing unprecedented interest rates and inflation in this country.
00:06:58.420I want to just pause a little bit and refer to a friend of mine, Bed Woodfidans, a piece he had over in the Hub at the end of May.
00:07:05.520It was really interesting. He talks about how Canada's aspiring populists aren't really actually all that radical.
00:07:11.880He makes a really good point. And he says that the media, people like Ed Fast, a sort of more establishment part of the Conservative Party, are throwing this accusation at Pierre Polyev that he is a radical, that he's extremist, that he is a populist.
00:07:26.220Typically, when we think of populists, we think of people who are appealing to sort of nativist, anti-immigration sentiments that are very pro-domestic policies.
00:07:35.220They might even be pro-big government thinking of people like Marine Le Pen in France or Donald Trump in the United States.
00:07:42.960And to take and to try to put Pierre Polyev into that camp is just such an awkward fit to take a criticism like this, saying that someone who criticizes the Bank of Canada, saying that they don't have the independence that they should and that they're partially responsible for this financial mess that has been engineered, yes, by Justin Trudeau,
00:08:00.560but that people like Tiff Macklin and the Bank of Canada have gone along with and enabled, that fundamentally, that is not a populist or radical attack.
00:08:09.960It's actually, at its core, a liberal attack. It's saying that this institution needs to be better protected, that it needs better safeguards, that we need more responsible policies,
00:08:18.240and that the relationship between Justin Trudeau and the Bank of Canada is too close, and that there needs to be more protection and more of a safeguard between those.
00:08:27.200That's fundamentally what Polyev is arguing.
00:08:29.800And Ben Woodfine points this out. He says, this is a quote from this piece in The Hub.
00:08:34.320He says, he may be attacking the independence of the bank, but at least on his account of what he's doing, he's not attacking the notion of an independent bank.
00:08:42.200Rather, he thinks he's trying to restore it. In practice, what Polyev seems to be offering is liberalism, albeit a different flavor of it.
00:08:48.960He doesn't seem intent on challenging Canada's liberal consensus in any meaningful way.
00:08:53.800That's exactly right. Polyev is saying that he wants more independence.
00:08:57.720He's not undermining the institution. He wants it strengthened, which, again, is the exact opposite of what his critics are saying.
00:09:04.780Well, lo and behold, on June 2nd, guess what?
00:09:07.940The Bank of Canada came out and said that it welcomes critics like Pierre Polyev, essentially admitting that Polyev has been right all along.
00:09:16.060So this is the headline over at the CBC of all places.
00:09:18.400The CBC writes this, following Polyev's attack, Bank of Canada officials says it's accountable for failure to check inflation.
00:09:26.200So that is the Bank of Canada's own words that it has failed when it comes to inflation, which is exactly the criticism that Pierre Polyev had.
00:09:35.740The deputy governor of the Bank of Canada acknowledged Thursday the institution has been unable to keep inflation at its target rate and should be held accountable.
00:09:43.720Deputy governor of the Bank of Canada, Paul Beaudry, made the remarks in response to conservative leadership candidate Pierre Polyev's claim last month
00:09:51.300that the Bank of Canada governor, Tiff Macklin, was surrendering his independence to Prime Minister Justin Trudeau
00:09:56.660through a money-printing quantitative easing program in response to the pandemic-driven economic crisis.
00:10:03.900So during the party's official English-language debate in Edmonton, Polyev also said he would fire Macklin if he becomes Prime Minister.
00:10:10.540Beaudry, who's the top bureaucrat over at the Bank of Canada, was asked by reporters Thursday to respond to those remarks.
00:10:16.980He said this, the aspect that we should be held accountable is exactly right, exactly right.
00:10:23.120So a little bit of vindication for Pierre Polyev over all this, and he acknowledged so much.
00:10:28.160So two days later on June 4th, Pierre put this out on Twitter.
00:10:31.760He said, I want to congratulate the Bank of Canada for accepting blame for its mistakes.
00:10:37.840They did what Trudeau told them, print money for deficits, causing runaway inflation and a dangerous housing bubble.
00:10:42.860But now they're doing what's unthinkable in Ottawa, taking responsibility, progress, Pierre writes on Twitter.
00:10:50.380So again, vindication, because despite all of the attacks from the media and even from within his own party,
00:10:56.760the Bank is now coming out saying, you know what, we made some mistakes and we caused some of those problems,
00:11:05.260On June 9th, the CBC had a follow-up piece saying this, following Polyev's attack, Bank of Canada governors says he welcomes criticism.
00:11:13.120So it's no longer just a top bureaucrat over at the Bank of Canada.
00:11:15.960It's Tiff Macklin, the person, the man himself, who was appointed by Justin Trudeau as the governor of the Bank of Canada.
00:11:22.360So according to the CBC piece, it says that Tiff Macklin shrugged off conservative leadership contender Pierre Polyev's
00:11:27.820pointed criticisms of him and the Central Bank Thursday, saying he welcomes input from elected officials and he knows inflation is too high.
00:11:35.560So again, Macklin says that he is going to leave politics to the politicians, defending his own performance,
00:11:41.000but again, admitting to the fact that inflation is too high, which again is a central criticism of Pierre Polyev.
00:11:50.780After all, oh, and by the way, on June 9th, we also learn the Bank of Canada says that Canadians could see a mortgage payment jump by 45% in the next few years by 2025, 2026, as the rates continue to rise.
00:12:05.420So some Canadians who took out mortgages in 2020 or 2021 could see their monthly payments jump by as much as 45% in the next few years,
00:12:13.980given the rising rates, according to the Bank of Canada's scenario released on Thursday.
00:12:20.020Elevated levels of inflation, which is currently at a 31-year high, could also mean that households allocate more of their income to food and gas
00:12:26.940if wage increases do not keep pace in this context.
00:12:30.560Highly indebted houses are especially vulnerable to a loss of income.
00:12:34.800Polyev again responded, could you afford to pay 45% more for your monthly mortgage payment?
00:12:39.860Justin Trudeau's inflation deficits and money printing have real-world consequences.
00:12:45.020Stop this now before Canadians find themselves no longer able to afford their home.
00:12:49.500He also tweeted this, when the Bank of Canada surrenders its independence to print money for Trudeau,
00:14:32.480There's something a little vulgar about Conservative leadership candidates bragging about the number of new members they've signed on.
00:14:38.340It's like the toxic masculinity of men claiming sexual conquests.
00:14:43.780Okay, so apparently Conservatives are just toxic men and they're not even allowed to tell you how many members they signed up,
00:14:49.960even though it is incredibly impressive and the media are understating it.
00:14:54.180Remember, we told you about how back in 2013, Justin Trudeau signed up 150,000 members and the media were salivating and jumping up and down congratulating him.
00:15:02.600Now we have the party signing up some 600,000 members, 300 and some thousand came from Pierre Polyev's website himself.
00:15:11.640And if they even mention it, if they even talk about it, well, according to the legacy media, it's toxic masculinity and it's sort of like claiming sexual conquests.
00:15:20.440Okay, John Iveson goes on to just say the basic rule of thumb in journalism is to never believe anything, especially from politicians.
00:15:29.240That is a standard that journalists hold Conservatives to, of course, as we know, and we've shown over and over again on the Candace Malcolm show.
00:15:35.700That is not the standard that they hold for Justin Trudeau.
00:15:38.200They basically run with whatever the liberals say as their headline without validating or verifying it.
00:15:43.360We've seen many, many times they've had to walk that back.
00:15:46.720But regardless, there's a theme in the legacy media saying that casting doubt on the credibility of the party, casting doubt on these numbers.
00:15:55.800CTV had a headline saying Conservatives say leadership vote won't be delayed after many new members signed up, all in scare quotes.
00:16:03.300So we're seeing this as the new narrative from the media, again, questioning whether or not these numbers are real,
00:16:09.900questioning whether or not the party can handle it, saying that there could be some doubt on the credibility of this election,
00:16:16.280just given that they frankly just don't believe the Conservatives when they say that they're doing this well.
00:16:22.040Last week I had Hamish Marshall on the show to talk about this huge growth, the excitement,
00:16:26.980and what it means for Justin Trudeau and Jagmeet Singh, who, again, should be pretty worried, pretty concerned by the fact that Conservatives are able to appeal to so many Canadians
00:16:36.280to capture the imagination, to encourage them to pay 15 bucks to join a political party,
00:16:40.660which is not something that normal, everyday Canadians do.
00:16:43.820Most Canadians are never members of a political party.
00:16:46.160So the fact that they have this excitement, the fact that so many Canadians have joined this party,