Canada had five tons of gold remaining in the Canadian treasury last fall. That's not enough to make rules for Canadians and explains simply why rules for Canadians are no longer made by Canadians.
The Truth About Corrupt Banking System!
- Thread starter china
- Start date
Really? Harpy & Co. aren't Canadians? Gordon Nixon isn't a Canadian? Ed Clark? News to me.
An article of Alain Pilote, published in the November-December, 1994 issue of the Michael Journal.
Bankers produce absolutely nothing; they only create the figures that allow the nation to make use of its own producing capacity, its own wealth. Without the production of all the citizens in the country, the figures of the bankers are worthless.
The Government
Must Create Its Own Money
Answers to a Few Questions
.
Question: You say that the Government should create the money. Does it not already do it, with the Bank of Canada notes?
Answer: If the Federal Government does create its own money, why is it over $800 billion in debt? The truth is that bank notes and coins come into circulation only when they are lent by private banks, at interest. Moreover, this kind of money (cash) represents less than 10 per cent of the money supply in our country. The other kind of money, which represents over 90 per cent of the money supply, is bookkeeping or checkbook money, that is to say, figures written on checks or bank accounts.
Question: Why do you want the Government to create the money? Is not the present bank money good?
Answer: Chartered banks lend out money and put it into circulation at interest, in the form of a debt, which creates unpayable debts. For example, let us suppose that the bank lends you $100, at 6 per cent interest. The bank creates $100, but wants you to pay back $106. You can pay back $100, but not $106; the $6 for the interest does not exist, since only the bank has the right to create money, and it created $100, not $106.
In other words, when a chartered bank lends you money, it actually demands you to pay back money that does not exist. The only way to pay back $106 when there is only $100 in existence is to also borrow this $6 from the bank. Your problem is not solved yet; it has only gotten worse: you now owe the bank $106, plus an interest payment of 6 per cent, which makes a total of $112.36. As years pass, your debt gets bigger; there is no way to get out of it.
Some borrowers, taken individually, can manage to pay back their loans in full — the principal plus the interest —, but all the borrowers as a whole cannot. If some borrowers manage to pay back $106 when they received only $100, it is because they take the missing $6 in the money put into circulation through the money loaned to other borrowers. For some borrowers to be able to pay back their loans, others must go bankrupt. And it is only a matter of time until all the borrowers, without exception, find it impossible to pay the bankers back, whatever the rate of interest on their loans.
Some may say that if one does not want to get into debt, one has only not to borrow. Well, if no one borrowed money from the banks, there would simply be not a penny at all in circulation. And this money borrowed from the bank cannot remain in circulation indefinitely: it must be returned to the bank when the loan is due... and returned with interest, of course.
Un-payable debts
This means that just to maintain the same amount of money in circulation in our country, year after year, un-payable debts must pile up. For example, if one wants to maintain only $100 in circulation, year after year, by borrowing at 6% interest, the debt will be $106 after one year, then $112.36 after two years ($106 plus the 6% interest), and so on. After 70 years, the debt will have reached the sum of $5,907.59, and there will still be only $100 in circulation.
In the case of public debts, the bankers are satisfied as long as the interest on the debt is paid. Is it a favour they do to us? No, it only delays the financial impasse for a few years since, after a while, even the interest on the debt becomes un-payable. Thus, in the example of the $100 borrowed at 6%, the interest due on the debt will have reached $104.26 after 50 years, which is more than all the money in circulation. (See Chapter 34.)
No wonder then that the national debts of all the civilized countries in the world are reaching astronomical proportions. For example, Canada's national debt, which was $24 billion in 1975, is now over $500 billion, and the interest on this debt costs over $49 billion per year, or about one-third of all the taxes collected by the Federal Government; this percentage keeps increasing year after year. So, to satisfy the bankers, the Government must slash all its other expenditures. Will the Government wait until servicing the debt takes 100% of the taxes, to change the system, or will it prefer to let people starve? Moreover, the national debt is only the peak of the iceberg: there are also the debts of the provinces, the municipalities, the corporations, and the individuals!
Question: Does the Government have the power to create money? Would this money be as good as that of the banks?
Answer: The Government has indeed the power to create, issue the money of our country, since it is itself, the Federal Government, that has given this power to the chartered banks. For the Government to refuse to itself a privilege it has granted to the banks, is the height of imbecility! Moreover, it is actually the first duty of any sovereign government to issue its own currency, but all the countries today have unjustly given up this power to private corporations, the chartered banks. The first nation that thus surrendered to private corporations its power to create money was Great Britain, back in 1694. In both Canada and the U.S.A., this right was surrendered in 1913.
It is not the bankers who give money its value; it is the production of the country. Bankers produce absolutely nothing; they only create the figures that allow the nation to make use of its own producing capacity, its own wealth. Without the production of all the citizens in the country, the figures of the bankers are worthless. So, the Government can just as well create these figures itself, without going through the banks, and without getting into debt. Then why should the Government pay interest to a private banking system for the use of its money, when it could issue it itself, without going through the banks, without interest nor debt?
This very question was actually asked to Graham Towers, Governor of the Bank of Canada from 1935 to 1954, before the House of Commons Standing Committee on Banking and Commerce, in the spring of 1939 (page 394 of the Minutes of Proceedings and Evidence Respecting the Bank of Canada, Committee on Banking and Commerce, 1939):
“Will you tell me why a government with power to create money should give that power away to a private monopoly and then borrow that which parliament can create itself back at interest to the point of national bankruptcy?”
Answer of Towers:
“Now, if parliament wants to change the form of operating the banking system, then certainly that is within the power of parliament.”
As a matter of fact, the power of the Federal Government to create the money of our country is clearly stated in the Constitution (Section 91 of the British North America Act, paragraphs 14, 15, 16, 18, 19, and 20).
Write to your MP and demand a banking reform !
No danger of inflation
Question: Is there not any danger that the Government might misuse this power and issue too much money, which would result in runaway inflation? Is it not preferable for the Government to leave this power to the bankers, in order to keep it away from the whims of the politicians?
Answer: The money issued by the Government would be no more inflationary than the money created by the banks: it would be the same figures, based on the same production of the country. The only difference is that the Government would not have to get into debt, or to pay interest, in order to obtain these figures.
On the contrary, the first cause of inflation is precisely the money created as a debt by the banks: inflation means increasing prices. The obligation for the corporations and governments that are borrowing to bring back to the banks more money than the banks created, forces the corporations to increase the prices of their products, and the governments to increase their taxes.
What is the means used by the present Governor of the Bank of Canada to fight inflation? Precisely what actually increases it, that is to say, to increase the interest rates! As many Premiers put it, “It is like trying to extinguish a fire by pouring gasoline over it.”
It is obvious that if the Canadian Government decided to create or print money anyhow, without any limits, according to the whims of the men in office, without any relation with the existing production, there would definitely be runaway inflation.
.
No more financial problems
If the Government issued its own money for the needs of society, it would be automatically able to pay for all that can be produced in the country, and would no longer be obliged to borrow from foreign or domestic financial institutions. The only taxes people would pay would be for the services they consume. One would no longer have to pay three or four times the actual price of public developments because of the interest charges.
So, when the Government would discuss a new project, it would not ask: “Do we have the money?”, but: “Do we have the materials and the workers to realize it?”. If it is so, new money would be automatically issued to finance this new production. Then the Canadians could really live in accordance with their real means, the physical means, the possibilities of production. In other words, all that is physically possible would be made financially possible. There would be no more financial problems. The only limit would be that of the producing capacity of the nation. The Government would be able to finance all the developments and social programs demanded by the population that are physically feasible.
Bankers produce absolutely nothing; they only create the figures that allow the nation to make use of its own producing capacity, its own wealth. Without the production of all the citizens in the country, the figures of the bankers are worthless.
The Government
Must Create Its Own Money
Answers to a Few Questions
.
Question: You say that the Government should create the money. Does it not already do it, with the Bank of Canada notes?
Answer: If the Federal Government does create its own money, why is it over $800 billion in debt? The truth is that bank notes and coins come into circulation only when they are lent by private banks, at interest. Moreover, this kind of money (cash) represents less than 10 per cent of the money supply in our country. The other kind of money, which represents over 90 per cent of the money supply, is bookkeeping or checkbook money, that is to say, figures written on checks or bank accounts.
Question: Why do you want the Government to create the money? Is not the present bank money good?
Answer: Chartered banks lend out money and put it into circulation at interest, in the form of a debt, which creates unpayable debts. For example, let us suppose that the bank lends you $100, at 6 per cent interest. The bank creates $100, but wants you to pay back $106. You can pay back $100, but not $106; the $6 for the interest does not exist, since only the bank has the right to create money, and it created $100, not $106.
In other words, when a chartered bank lends you money, it actually demands you to pay back money that does not exist. The only way to pay back $106 when there is only $100 in existence is to also borrow this $6 from the bank. Your problem is not solved yet; it has only gotten worse: you now owe the bank $106, plus an interest payment of 6 per cent, which makes a total of $112.36. As years pass, your debt gets bigger; there is no way to get out of it.
Some borrowers, taken individually, can manage to pay back their loans in full — the principal plus the interest —, but all the borrowers as a whole cannot. If some borrowers manage to pay back $106 when they received only $100, it is because they take the missing $6 in the money put into circulation through the money loaned to other borrowers. For some borrowers to be able to pay back their loans, others must go bankrupt. And it is only a matter of time until all the borrowers, without exception, find it impossible to pay the bankers back, whatever the rate of interest on their loans.
Some may say that if one does not want to get into debt, one has only not to borrow. Well, if no one borrowed money from the banks, there would simply be not a penny at all in circulation. And this money borrowed from the bank cannot remain in circulation indefinitely: it must be returned to the bank when the loan is due... and returned with interest, of course.
Un-payable debts
This means that just to maintain the same amount of money in circulation in our country, year after year, un-payable debts must pile up. For example, if one wants to maintain only $100 in circulation, year after year, by borrowing at 6% interest, the debt will be $106 after one year, then $112.36 after two years ($106 plus the 6% interest), and so on. After 70 years, the debt will have reached the sum of $5,907.59, and there will still be only $100 in circulation.
In the case of public debts, the bankers are satisfied as long as the interest on the debt is paid. Is it a favour they do to us? No, it only delays the financial impasse for a few years since, after a while, even the interest on the debt becomes un-payable. Thus, in the example of the $100 borrowed at 6%, the interest due on the debt will have reached $104.26 after 50 years, which is more than all the money in circulation. (See Chapter 34.)
No wonder then that the national debts of all the civilized countries in the world are reaching astronomical proportions. For example, Canada's national debt, which was $24 billion in 1975, is now over $500 billion, and the interest on this debt costs over $49 billion per year, or about one-third of all the taxes collected by the Federal Government; this percentage keeps increasing year after year. So, to satisfy the bankers, the Government must slash all its other expenditures. Will the Government wait until servicing the debt takes 100% of the taxes, to change the system, or will it prefer to let people starve? Moreover, the national debt is only the peak of the iceberg: there are also the debts of the provinces, the municipalities, the corporations, and the individuals!
Question: Does the Government have the power to create money? Would this money be as good as that of the banks?
Answer: The Government has indeed the power to create, issue the money of our country, since it is itself, the Federal Government, that has given this power to the chartered banks. For the Government to refuse to itself a privilege it has granted to the banks, is the height of imbecility! Moreover, it is actually the first duty of any sovereign government to issue its own currency, but all the countries today have unjustly given up this power to private corporations, the chartered banks. The first nation that thus surrendered to private corporations its power to create money was Great Britain, back in 1694. In both Canada and the U.S.A., this right was surrendered in 1913.
It is not the bankers who give money its value; it is the production of the country. Bankers produce absolutely nothing; they only create the figures that allow the nation to make use of its own producing capacity, its own wealth. Without the production of all the citizens in the country, the figures of the bankers are worthless. So, the Government can just as well create these figures itself, without going through the banks, and without getting into debt. Then why should the Government pay interest to a private banking system for the use of its money, when it could issue it itself, without going through the banks, without interest nor debt?
This very question was actually asked to Graham Towers, Governor of the Bank of Canada from 1935 to 1954, before the House of Commons Standing Committee on Banking and Commerce, in the spring of 1939 (page 394 of the Minutes of Proceedings and Evidence Respecting the Bank of Canada, Committee on Banking and Commerce, 1939):
“Will you tell me why a government with power to create money should give that power away to a private monopoly and then borrow that which parliament can create itself back at interest to the point of national bankruptcy?”
Answer of Towers:
“Now, if parliament wants to change the form of operating the banking system, then certainly that is within the power of parliament.”
As a matter of fact, the power of the Federal Government to create the money of our country is clearly stated in the Constitution (Section 91 of the British North America Act, paragraphs 14, 15, 16, 18, 19, and 20).
Write to your MP and demand a banking reform !
No danger of inflation
Question: Is there not any danger that the Government might misuse this power and issue too much money, which would result in runaway inflation? Is it not preferable for the Government to leave this power to the bankers, in order to keep it away from the whims of the politicians?
Answer: The money issued by the Government would be no more inflationary than the money created by the banks: it would be the same figures, based on the same production of the country. The only difference is that the Government would not have to get into debt, or to pay interest, in order to obtain these figures.
On the contrary, the first cause of inflation is precisely the money created as a debt by the banks: inflation means increasing prices. The obligation for the corporations and governments that are borrowing to bring back to the banks more money than the banks created, forces the corporations to increase the prices of their products, and the governments to increase their taxes.
What is the means used by the present Governor of the Bank of Canada to fight inflation? Precisely what actually increases it, that is to say, to increase the interest rates! As many Premiers put it, “It is like trying to extinguish a fire by pouring gasoline over it.”
It is obvious that if the Canadian Government decided to create or print money anyhow, without any limits, according to the whims of the men in office, without any relation with the existing production, there would definitely be runaway inflation.
.
No more financial problems
If the Government issued its own money for the needs of society, it would be automatically able to pay for all that can be produced in the country, and would no longer be obliged to borrow from foreign or domestic financial institutions. The only taxes people would pay would be for the services they consume. One would no longer have to pay three or four times the actual price of public developments because of the interest charges.
So, when the Government would discuss a new project, it would not ask: “Do we have the money?”, but: “Do we have the materials and the workers to realize it?”. If it is so, new money would be automatically issued to finance this new production. Then the Canadians could really live in accordance with their real means, the physical means, the possibilities of production. In other words, all that is physically possible would be made financially possible. There would be no more financial problems. The only limit would be that of the producing capacity of the nation. The Government would be able to finance all the developments and social programs demanded by the population that are physically feasible.
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I see china, once again, has not credited his cut and paste. Here's the link to the Catholic web site.
Social credit monetary and banking reform by major C H Douglas
Social credit monetary and banking reform by major C H Douglas
Obviously you aren't interested in the content of the post(s), you're more concerned about the "BALLS" you have, right ?
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That's right, I do have balls. Unlike you, who go after young girls in foreign countries just to make yourself feel like a man.
The main reason I posted the link, was to show, once again, how much of a hypocrite you are. In the past you have bashed Catholisim, yet here you are linking to a Catholic group.
why, becaue I point out your hypocrisy? You bash Christianity, and Catholicism in particular, you bash Canada and praise china, yet you sponge of of us when it is convenient to you. You are a useless piece of skin and I will continue to point out your idiocies and hypocrisy's as you post them.
This is a thread about a banking system in Canada .If you aren't capable to add something constructive to the topic , please refrain from using this thread .
If you want to communicate with me regarding me being a hypocrite ,I,m game , but let's do it in a new thread and bring some substance not just some stupid accusation .
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Really, a brainwashed 12 year old, and a link to a marginalized Catholic sect. There's something solid for ya. Lot's of substance there.
I mean, just the 12 year old alone should convince everyone of the error of their ways and make changes immediately. How wrong could a 12 year old be?
Well GG. Whatever your issue.with China may be the concepts presented are actually factual. Gurnsey used this model starting many years ago and has almost no taxation and zero national debt. You have to admit that is pretty significant.
modern day biblical renditions indicate "excess increase"
However, the original word in Hebrew is tarbiyth which mean increase or profit, not "excess". Nowhere is the term "excess" indicated.
therefore, ANY profit or increase justifies death to bankers
Opie said:
You can thank Mulroney for selling our debt to private banks. That guy is a twat.
Back in the stone age, I believe we learned in school that the Bank of Canada is the "banker's bank" and lowly peons don't get to deal there unless we're a bank!-
Tarbiyth may also mean unjust gain in the Hebrew. So my interpretation is also valid.