In 2004-2005 the government paid 17.3% of all taxes collected toward ONLY THE INTEREST on the public debt. When I say the "government paid" I really mean the people of Canada since the government has no money of its own. So every dollar that you pay in taxes 17 cents of that goes directly to the private banks! This is actually a small percentage due to the low interest rates. In 1990-1991 this value peaked at 39 cents for every dollar!
What do you think we could spend this money on if it wasn't going to the private banking system? Health care? Education? Tax cuts?
The following is a quick, simple to understand tutorial on the basics of how money is created in Canada. It explains how simple it is for us to remove ourselves from the debt cycle by printing our own money to be paid back at virtually no interest instead of borrowing the money from the private banking system at much higher interest rates (currently at 3.25%). We are printing about 5% of the money through the Bank of Canada and the other 95% comes from private banks.
The Committee on Monetary and Economic Reform
Since the numbers in the tutorial are a few years old here is a small update to the figures. You may have heard that our government has run a budget surplus for the past 8 years (1997-2005) and to their credit have reduced our Net Debt from $607.9 to 554.7 billion (Table 9). These numbers can be deceiving.
This debt reduction of $53.2 billion since 1997 had some help. In 1999 the government passed the Budget Implementation Act which allowed them to steal over $30 billion directly from public service pension surpluses. So, of this $53.2 billion reduction in the public debt, over $30 billion was "borrowed" from pensions that still need to be paid out! I am no accountant but this is just another form of debt. What will happen if the pension funds are running low on money?
One more small example from this past budget of 2004-2005. Canada's debt dropped slightly by $1.6 billion ($556.3 - 554.7). But in September of 2004 our government sold off the remaining 50 million shares of Petro-Canada for $2.6 billion (Footnote under Table 3). Not exactly the sustainable budget surplus it is hyped up to be.
Note: The government decided to sell the shares of Petro-Canada which it owned since 1975, shortly after the stock had dropped by more than 12%. Good time to sell?
Why are you a Slave?
Imagine for a second that you are in charge of the private banks that print our money (and all G-8 country's money) out of nothing and get billions of dollars back in the form of interest.
What would you do with essentially an endless supply of money - more then you could possibly spend in a lifetime?
It becomes a question of not what you can buy but who you can control - power becomes the driving force.
Below is a 45 min video describing how this "capitalist banker conspiracy" functions. It may sound a little crazy but think about how well 9-11 fits into the "pressure from above, pressure from below" framework. This video was made well before 9-11.
G. Edward Griffin's - Capitalist Conspiracy
There is also a much newer movie by Daniel Hopsicker about the banking elite and the corrupt history of the Federal Reserve located on this website entitled The Masters of The Universe.
Should we use the Gold Standard?
The video above suggests that we should use the gold standard instead of leaving our government with the ability to manipulate our monetary system.
When you consider how corrupted our government is (or could become in the future) this is the obvious solution.
But what happens if someone becomes powerful enough to manipulate the price of gold?
I am not going to pretend to have all the answers to removing the control the bankers have over us.
But the longer we wait the more power and more control they are going to accumulate.
The first step is to spread the word about this evil that has enslaved us.
We have to remember that there are very few of them and millions of us.
Their control is only superficial when people become educated.
Related Article: Money for the People, and by the People
Related Article: Bankers Enthroned - Why the NDP won't save you and details about the current bank mergers and their expansion into other financial areas.
Article Posted at www.KnowledgeDrivenRevolution.com [Proofreader's note: this article was edited for spelling and typos on December 19, 2005]
Note: 17.3% 39 cents Bank of Canada http://www.canadianacti... The Committee on Moneta... Table 9 steal over $30 billion remaining Footnote under Table 3) dropped by more than 12% Capitalist Conspiracy website The Masters of The Univ... manipulate the price of... Money for the People, a... Bankers Enthroned www.KnowledgeDrivenRevo...
Stumble It!
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Dave Ruston
Brent, could you provide a link for the Mackenzie King quotation?
He was also quote as saying something like "Usury once in control will wreck the nation". The world is messed up in a million ways, eh?
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"A Liberal is someone who refuses to take his own side in a fight".
-Robert Frost
that was actually interesting to read.
I have heard romours that China might join, but it would be hard for people to stomach an Asian country on the G-8, I mean, I know Japan is there but China? China is the biggest threat to the western world.
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"A Liberal is someone who refuses to take his own side in a fight".
-Robert Frost
<br />
“Once a nation parts with the control of its currency and credit, it matters not who makes that nation's laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile.”<br />
<br />
<a href="http://www.michaeljournal.org/plenty24.htm">http://www.michaeljournal.org/plenty24.htm</a><p>---<br>Brent<br />
www.knowledgedrivenrevolution.com
a communist totalitarian nation of 1 billion people has developed a highly competitive and vibrant economy. that should make everyone stop and think.
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"A Liberal is someone who refuses to take his own side in a fight".
-Robert Frost
Now only the Canadian Action Party has reform of the debt driven money supply as part of its platform. Once again the liberal/conservative party sees the threat and once again they passed laws to quash small parties, this time disguised as election reform.
Small parties have typically been bankrolled mostly by a few patrons until they gain popular recognition. To tighten their monopoly on power, the liberal/conservative party passed a law prohibiting donations of more than $5000 by any individual and $1000 by any union or corporation. Replacing these donations is government funding of $1.75 per vote given to a party - but with the catch that the party must get at least 2% of the votes cast in an election.
This protects the established parties from competition in a couple ways. Small parties cannot collect government funding until AFTER an election, new parties therefore have severly curtailed access to paid publicity. Before, a few people could donate a lot of money to get the party rolling; that is no longer possible.
Unless the new party has candidates in just about every riding and excellent word of mouth (free) advertising, the likelyhood that they can obtain 2% of the national votes is pretty well non-existant.
This election reform could have been a great boon to democracy, but the 2% of the vote stipulation transforms it into the same type of crime against democracy that Trudeau pulled.
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Dave Ruston
The Banking system's hold on Canada is far greater than the Federal debt. Although seemingly huge, it dwarfs in comparison to the debt of the private sector.
At the end of 2004, non-financial corporations had an accumulated debt over 2 TRILLION dollars on operating profits of 144 billion dollars (stats canada table 187-0001). Those businesses paid a real avarage income tax rate of 26.6% of operating profits in 2004, which the media and bank-economists scream is too high despite being the second lowest rate since WWII. In fact, non-financial corporations paid 45.1 billion in INTEREST on debt in 2004 - 31.3% of operating profits.
Personal debt is horrendous too, 1.2 trillion as of 2004.
So if you want to know how much we pay to our banking masters each year, you cannot only look a the piddly federal debt, you must look at all debt.
502 billion - Federal
??? Provincial/Municiple
2000 billion Non-Financial corporations
1200 billion Personal Debt
So that is at least 3.7 TRILLION dollars in debt. Apply an arbitrary but not unrealistic average interst rate of 8% and we're probably paying something in excess 300 billion per year in interest charges.
So our total debt is at least 300% of GDP with interest expenses at least 30% of GDP. Our Federal Debt may be bad, but it is nowhere near as bad as our total debt.