It’s all About Our Money!


This is a re post from the Alberta Social Credit Party Platform, showing the there are other alternatives to our debt system system, that would heal our financial system if implemented. Written by Len Skowronski in its entirety.

Alberta

Make the Alberta Treasury Branch the economic engine of Alberta

Money does not have any value on its own.  It is a means of helping people trade goods and services.  It only has value when it is traded for goods or services.  In modern economies, enough money must be available to facilitate the transactions needed to provide the people in a community the goods and services they need for a good standard of living.

The amount of money needed to achieve this goal must be determined and supplied by a central source that has the good of the whole community as its mandate.  This money should be provided to the members of the community with a small surcharge for this service.  No additional funds (profit) should be expected for this service, for it does not provide any of the goods and essential services that the community needs.

The Bank of Canada was established to be this central source in Canada.  Unfortunately, the creation and distribution of money has slipped to the private banks.  Individuals and the federal, provincial and municipal governments are paying billions of dollars in interest to these banks for a service that deserves only a small surcharge.  These banks are making huge profits, even during our recession, which are distributed to their shareholders, many of whom are not even Canadian.

The Bank of Canada should recover its control of the money supply.  It should allow the private banks to function as distribution utilities with regulated service charges and profit margins.

Unfortunately, vested interests in the eastern-controlled banks make achieving this goal highly unlikely.  But we Albertans can lead the way!  We can return the Alberta Treasury Branch (ATB) to the mandate given by the Social Credit government of 1935 – 1971: Provide the capital needed by Albertans to establish a thriving economy.  It can function as the “Bank of Alberta”, giving us economic independence!

We should make the ATB the economic engine of Alberta’s economy.  By statute, the Bank of Canada (B of C) is required to give no-interest loans to the provinces.  We will demand this service even though none of the provinces are receiving this advantage over the private banks.  If we are not able to convince the federal government and the B of C to take this step then the ATB will take loans from the B of C at the prime rate, as do the private banks.  This will still give Albertans a huge competitive advantage for they will only be paying prime and a small operations surcharge as opposed to the private banks’ prime plus many percentage points.  These “prime plus rates” always provide for large shareholder dividends and huge executive salaries and bonuses.

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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
This entry was posted in Economic / Financial / Bank of Canada and tagged , , , . Bookmark the permalink.

3 Responses to It’s all About Our Money!

  1. Jeannette Nobbs says:

    Where is the ATB in Ontario?

    • pushinback says:

      The acronym ATB actually means Alberta Treasury Branch. The ATB was set up by the Social Credit Government and was intended to lend out money at a rate of 1 to 2%. That wasn’t the 1 to 2% over prime that the private bank lend money at; that is a straight 1 to 2% and also simple interest. I knew Ted Hinman, the Provincial Treasurer for Alberta and in the late 1970’s he told me how the Social Credit set up the Heritage Trust Fund and the ATB system of banks to lend out money for business and pay for Government Services. I thought it to be rude, so I did not ask him if the Social Credit didn’t launch the money system because they were afraid of the reaction of the private banking system, or if it was purely because the Social Credit had been in power for 28 years and they had simply had become arrogant.
      In any case if anyone would like more information just ask.

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