Canadian Action Party Monetary Reform 3

This blog is the 3rd of a series of reprints from the policies of the Canadian Action Party. It is my opinion, as the author of this site, that Canada needs policies such as those stated in the CAP`s monetary policy.

Double Entry Bookkeeping Policy


1) It is impossible to find your way through the overgrown sub prime debt jungle that the world has become, unless you realize that there are two types of debt. The debt of our federal government that is spent into existence and hence bears no interest, and there is the debt lent into existence by banks which does bear interest.

and Whereas:

2) The government’s borrowings from the Bank of Canada, of which it has been the sole shareholder since 1938, is the only legal tender in our land -that must be accepted in payment of any debt.

and Whereas:

3) The interest charged the government by the Bank of Canada comes back to it almost entirely in the form of dividends.

and Whereas:

4) The credit of the government when extended to domestic purchases or investments is backed by its taxing powers over the nation, the skills, talents and education of its inhabitants, and the wealth of our environment. That is why all these capital assets -whether they are traded on the market or not -must be preserved and properly valued when privatized

and Whereas:

5) The word “debt” calls to mind a negative sign before a number of dollars, but government debt would be more realistically conceived and would be better understood if we trained ourselves to think of it with a large positive sign before it.

and Whereas:

6) The government must handle its own spending -and hence the country’s money creation responsibly.


Be it resolved that CAP/PAC reaffirm its policy that CAP calls on the Canadian government to follow a strict double-entry bookkeeping practice in order to keep track not only of the amortized debts of government investment but also of the depreciated value of its investments -both in physical investments and in human capital.

Reprinted from the Canada Action Party site:


About pushinback

Back in 1993, I attended an anti-Nafta rally in Ottawa along with over 110,000 others. But despite the overwhelming opposition to NAFTA, the steamroller rolled on. It was there that I came to understand the one vital thing that I have been preaching ever since. There are so many issues, and so many fighting each issue, we are all spinning our wheels, and wasting our time, talents and energy, because each election, we give the politicians our power and so the deck is stacked against us. I said it that day and I say it with more fervency today. We all have one issue that we share, and we should all stop fighting for our own issues and losing anyways, and we should fight to achieve that one thing that we all share. We Canadians all have to fight to finally get a say between elections. We need to fight to make politicians accountable to us, the people. If there is no accountability, and the people have no say between elections, we have no Democracy. My Blog is written to teach the reader the essential knowledge of freedom and Democracy. Please read, and learn. I am one person, but I leave you my witness that one person is not powerless, only first you must first learn and then act. Let the democratic revolution begin. Kindest regards, Rob McQueen
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One Response to Canadian Action Party Monetary Reform 3

  1. Pingback: The Chart that Shouts Out from the Silence of the Page | pushinback

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