Think bankers working in collusion with elected officials is a crime only committed against American taxpayers? Think again. Canada has its own massive banking fraud. All your favourite PMs are involved from Trudeau, Mulroney, Chretien, Martin and Harper.
(Figures approximated, but it won’t matter.)
Governments have budget short-falls. In the old days (30 years ago) they would just print money– since the inception of currency that system worked fine. We still do it today. One, extremely rare, constantly cited example from history, depicts hyperinflation and a nation’s people using wheelbarrows to carry cash to the store- 15 years later that country was powerful enough to conquer Europe.
Big bad Inflation. Printing money causes devaluation, but the exact same thing happens when you borrow money! Bankers are allowed to loan more money than they reserve in assets. So when we borrow money the bank is creating money that didn’t already exist– adding to total money supply. Its a big joke. Instead of printing money at the Bank of Canada we printed it in private banks. Now we’re paying 1/3 of our income tax in interest for absolutely no reason.
Private banks have created over 550 billion worth of new cash. Are you using a wheelbarrow yet? Of course not, hyper-inflation is a ridiculous bogeyman.
Currency legitimizes authority. Coloured pieces of paper are worthless until they stamp ‘Bank of Canada’ on them. It gives the state dominant economic power, that’s its very purpose. Currency is the state. Domestic debt is a ridiculous concept. The sovereign state always has enough. If its dependent on someone else supplying money, its no longer the authority. It’s no longer sovereign. Borrowing domestically defeats the purpose of having a country; its a backwards concept that should never have been created.
When a person dies, any debt unrecoverable by their estate goes uncollected. Bankers, and our political leaders, created a system where they can keep us and our decedents in debt long after we’re dead, cheating the system. It immortalizes a debt onto the working class. Can you imagine having an impossibly massive debt dumped onto you when a relative died?!? Crazy right? Well that’s what the national debt is. I wasn’t even born when they started this, why am I paying someone else’s debt? And when is the foreseeable end to this? Are we just perpetually going to give up 1/3 of our incomes to people who contribute nothing to society? . . . .Debts are growing not shrinking, even China owes a trillion dollars. Are we really just going to go along with this forever, damning our kids and their kids and so on for no reason at all? This is a joke right? We can’t possibly be this stupid.
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