I kind of struggle with monetarist economics. But this was a good article.

One statistic caught my attention:

the Bank of Canada now owns about 40% of all outstanding bonds, and the number is expected to raise to 50% in just a few months.

This suggests that Canada (or its Central Bank) could declare bankruptcy on those debts. Since the lender and borrower are the same, no one really loses. Then the whole process starts over again.

Anyways, that's how I'm seeing things.