What Is The Debt And The Deficit? --Untouchable, Is What It Is.

I see very little discussion on vive about the banking system.
Below is the short course, including two UNBELIEVABLE facts (check 'em out).

Unbelievable fact #1. Money is created out of nothing. Yep. End of Story. Not based on gold. Money is created merely out of A FAITH BASED ON THE CREDIT OF A NATION. (Simply put: when I give you a $20 bill you accept it (on faith) as legal tender).

There are two ways to create money (out of nothing). Through a nation-state's central bank; and by the private banking system.

In Canada, the government of Canada is the sole shareholder of the Bank of Canada. Therefore, moneys created by the Bank for the federal government IS ESSENTIALLY INTEREST-FREE- and may also be loaned to provincial governments at rates well below private bank rates.

This will not cause inflation! Note we are only talking about how the money is created, not how much of it is created...AT THE MOMENT, the Bank of Canada creates some 5% of our calculated money supply each year; and the private banking system the rest: 95%!

UNBELILEVABLE FACT #2. You and I-individuals- and businesses- have no choice: we must borrow our money from the private banking system.
BUT GOVERNMENTS HAVE A CHOICE!! They may choose between creating their own all but interest free $ at the federal level- OR- borrow AS debt, and AT (substantial!!!) interest, from the private banking system. GUESS WHICH CHOICE THEY MAKE?

And there's more! Not only do our own governments make this preposterous choice, but WE TAXPAYERS PAY THE INTEREST to the private banking system, because that is primarily to whom the debt and deficit (interest) is due. NOW IS THIS A SWEET DEAL FOR THE BANKS OR WHAT??!!!

Notice that there is an ABSOLUTE BLACKOUT on any discussion about the fact that "the deficit" ie, 'the public debt interest' is, year after year after year after year Canada's LARGEST federal expenditure (checkitout, you'll see); and is the 3rd or 4th largest provincial expenditure.

WHEN is someone, somewhere, anywhere, ever going to raise this issue? It is, without question, the main root cause of nation-state internal erosion. This preposterous situation is choking the very life out of our economic systems- worldwide- (It is not peculiar to Canada!) but it is very hard to get even activists to talk about it, because of the blackout of information about it. I made a video about it. I'm not writing this to shag my video! I'm writing it because I'm so P---- off! If you want more info about the video, click here.

Summary: demistifying the debt and deficit
1. Money is created out of nothing (when you are granted a loan in your bank for a new car for $30,000, that amount is printed into your bankbook: YOU owe it AS debt & AT interest. SECONDS EARLIER IT DIDN'T EXIST. Until people can understand this unbelievable fact, we will not get anywhere attmpting to resolve our economic ills- around health care or anything else! No wonder the banks make such preposterous profits! They have been all but entirely deregulated, have no accountability, and they can create money! Don't you wish YOU could create money?

2. Rather than choosing to create its OWN all but interest-free money, and this is important: ON BEHALF OF CANADIANS, AND IN CANADA'S INTERESTS (as WAS done, by the way, shortly after the Bank of Canada was created, back in the 30s) our federal government borrows as said before (worth repeating!!) AS debt, and AT (substantial) interest from the private banking system- and repays this HUGE annual expenditure with taxpayer's money! Talk about a scandal...

Until this information is discussed and debated publicly by activists and others, the private banking system will continue to make obscene profits, because it can create money; and the interest due will be paid by taxpayers (at the moment) IN PERPETUITY. We have become DEBT SLAVES. Our Brave New World has been reduced to this.

Of course there is "no money" for health care, etc. The money is being diverted into the private banking system! Our money has been all but completely privatized BY STEALTH, without any discussion or debate. Ever hear anything from PM Martin on this issue? No. And you never will. It's untouchable. Now here is an election issue, if ever there was one. Want an inquiry? How about a Royal Commission into Federal Banking Practices?