Thank you, Chair.
And thank you, witnesses, for the very good presentations by each and every one of you. I'm not going to get to each and every one of you, so I will try to narrow it to three people.
We always have a good presentation by you, Mr. Lazar. You've been many times to this committee and you are always thoughtful and provocative.
I take your overall point that government stimulus is in some respects propping up the Canadian economy at this particular point, although the Parliamentary Budget Officer is trying to figure out exactly what it's doing. That can only run on for so long and then it has to be private stimulus, if you will; the market has to take over.
I buy that basic point. Once that point occurs, which I would say has to be already occurring, we have to get to the game now. In other words, as Wayne Gretzky famously said, it's not where the puck is, it's where the puck is going to be, which I think is the point of your presentation.
Your first point is that the Bank of Canada take action to mitigate the volatility and rise of the Canadian dollar. The Bank of Canada has precious little money to play with. How do you propose doing that?