Before you read my post, I thought that I would drop a You Tube clip in here to make a point, that there is a heavy cost to ignorance. Before we can hope to take control of our nations we must collectively begin to think. Gullibility is the stuff of sheep, and the 1% will simply continue to drag us around by our noses until we do learn to think .
As you see, many have been trained to be mindless sheep. People get to that sad state when they leave their thinking to someone else to do for them. The brain is like a muscle, it has to be exercised to be strong and useful. Stupidity is a pitiful state.
There is a Heavy Cost to Ignorance
Previous to 1974 the Canadian Government got it’s money from the Bank of Canada, which was responsible for and was set up by William Lyon Mackenzie King, to create money for the operation of social and economic programs in Canada and also the Provinces. After 1974 governments in Canada stopped the practice of getting this money from the Bank of Canada and began the practice of borrowing money from private banks. It was Prime Minister Trudeau that made this treacherous change. Some may not understanding the difference, thinking that what does it matter where you get your money from as long as you have the money to operate the programs Canadians need. But the obvious point here is that if you create money for yourself there is no debt, you cannot owe yourself money. But if you borrow money from banks you will be in debt to them for both the money they create and for the interest they charge you. The invisible elephant in the room is, that bankers are happy to propagate and foist on governments and the people the lie that there is no alternative to our present system were 95% of Canada’s newly created money comes into circulation as a debt owed to private banks. Anyone that has ever borrowed money from a bank knows the feeling of the ball and chain of debt to a bank.
Canadians, because they were ignorant about politics, and economics did not even know the switch even happened, and the worst part is that the politicians of the time deliberately made the change that would set Canada on a course of indebtedness. This is the very course of events that has landed Greece, Spain, Ireland, Iceland, etc, etc, etc, in their financial disasters.
A banker will quickly argue that Greece and company got in the mess they are in through reckless spending and mismanagement of their economies. But consider this one crucial piece of information that they conveniently leave out, if every new dollar that is borrowed into your economy comes as a debt where do have to get the money to pay your debts. The answer is that you have to borrow more money which only piles onto your mountain of growing debt.
Stephan Harper will brag that Canada weathered the recession storm better than any other G-8 nation, but what Harper was not saying was that Canada is a resource based nation. Countries and corporations from all over the world come to Canada to buy our oil, copper, nickel, potash and on and on. When resources are sold to foreign nations or corporations they pay for these resources it is the foriegn companies that have borrowed the money from banks. In other words the money that comes to Canada is debt-free money coming from buyers of our resources. It is this debt-free money that keeps the wheels of Canada’s economy rolling without getting into as deep a debt, as our America friends.
True, our debt, because of our resource based economy, has not been as dramatic as the Americans have experienced, but even a less dramatic slope to the bottom still will hit the bottom. The financial system the world is operating under does not work and is not sustainable. The crisis of Greece and friends is embodiment of this truth. The financial lemmings, that adhere to our present economic model, hurry and are bent to run over the same financial cliff. Why is the Canadian Government eager to follow the frenzied crowd of world money borrowers when Canada owns the Bank of Canada that can keep Canada out of debt? National bankruptcy is the cliff for anyone in the rushing crowd.
If Canada hadn’t begun the practice of borrowing from private banks Canada would not owe approx. $587 Billion. Quoting from my blog The Bank of Canada Must Finance Our Country ,“If the federal government were paying interest at the average levels that prevailed from the 1930s to the mid-1970s, it would now be running an operating surplus of about $13 billion!” In 2008 Canada paid $33Billion to just to service the debt the Federal Government accumulated and foisted on the Canadian people. That $33Billion came out of the pockets of every Canadian, whether you paid taxes, or bought something that you paid HST tax on. In other words that money was bled out of our economy, but it would not have if Canada had continued getting its debt-free money from the Bank of Canada. Now consider the amount you paid for income taxes last year, and consider that if our governments were not in debt then we would have very little taxes to pay. Remember that previous to 1974 the Canadian Governments (Federal and Provincial) payed for social programs as well as for infrastructure with Bank of Canada debt-free money.
What could you do with a majority of your taxes still in your pocket? Maybe you would have enough money to pay off your personal debts. Maybe you could live life without the every minute anxiety of the ball and chain of debt you have around your neck.
At the start of the 2008 recession, our political leaders made a suggestion as to what was the solution to get the economy up and going again? The answer was a cash infusion to kick-start the economy again (no, I don’t mean the $114 Billion the Canadian Government gave the bankers as a gift. That bailout only went into the bankers pockets as bonuses). What our leaders told citizens to do was to get out and shop to stimulate the economy. Imagine, if the Bank of Canada again financed Canada’s economy, such that Canada got rid of their debt, you would have most of the money you that you pay in taxes still in your pocket. With all that excess money in their pockets Canadians would go out and shop and the Canadian economy would have had almost $33 Billion to stimulate the economy, year after year after year. Isn’t it time that you got informed and active to end this ignorance.
Isn’t Canada changing it’s economic system the real answer to Canada’s prosperity, not giving money to the banks and to bankers to stimulate the economy.
To accomplish this change we must vote for either political parties that understand the basic principles of the necessary economic change, and also, on a political level, because these parties are so small to make the major leap into governance, we must elect also independents as members of Parliament, and to our Legislatures. Independents will serve the wishes of their constituents. As written in another one of my blogs, we must stop voting for the Conservatives and the Liberals in Canada. These parties propagate the policies of the 1% and will always fleece the Canadian sheep on behave of their benefactors, the 1%. Which are the small parties that I suggest in electing? The Canada Action Party (http://actionparty-ne.ca/home/) federally, and the Social Credit Party in Alberta for Albertans (http://www.socialcredit.com/index.php).
Please pass this on to others, we cannot go on in ignorance forever.
- The Chart that Shouts Out from the Silence of the Page (pushinback.wordpress.com)
- The Bank of Canada Must Finance Our Country… https://pushinback.wordpress.com/2012/09/23/571/
- How does Bank of Canada target rate affect you? (globalnews.ca)