Banking on serious reform | WHAT REALLY HAPPENED

Banking on serious reform

Why do Canadians allow private banks to profit off our public debt when the Bank of Canada is legislated to provide low- or no-interest loans for human capital and infrastructure spending? The Bank of Canada has not issued such loans since 1974, after it funded Canada out of the Great Depression, the Second World War, the infrastructure boom, universal health care, universities and colleges, CBC and more. Monday, three judges upheld the previous ruling of justiciability. The next step is to determine the statutes of the Bank of Canada Act and if they have been subverted by conspiracy.

The monopoly of private banks' exclusive privilege of lending money to governments will, for the second time in our history, soon be put on trial. The first time it was debated in the House of Commons, it led to the creation of the Bank of Canada. It's time to restore the Bank of Canada and jail the banksters.

We are in a perpetual-debt crisis because we've allowed foreign private interests to control the creation of money and, by extension, federal economic and social policy for their private interests. Banks are guaranteed billions in profits every year as families slide deeper into debt. Forget income splitting; imagine the tax relief once we escape debt bondage and compound-interest payments.

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