"Will you tell me why the 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"... "Why should a government borrow that money at interest?" Mr Towers, "Now, if parliament wants to change the form of operating the banking system, then certainly that is within the power of parliament." -Standing Committee on Banking and Commerce May 9 1939 p.394
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Showing posts with label Banking system. Show all posts
Showing posts with label Banking system. Show all posts
Monday, November 29, 2010
Vic Beck: The Monopoly Game
After viewing this videoclip please read the following 2 posts.
1- The High Cost Of Working For Money
2- The High Cost Of Working For Money II : Addendum
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Thursday, September 30, 2010
The Crime Of The Canadian Banking System (2007)
BILL ABRAM part-1/3
Over the past 4 years, the Canadian people have paid $137.4 billion in interest on money borrowed from private banks whereas the Bank of Canada could legally print the public's money into existence rather than borrowing it at interest. "They've paid out this huge sum because our government has failed to abide by the law." Abram, a retired high school teacher and activist on Vancouver Island, B.C., explicates the trick of fractional reserve banking.
CANADA'S GREAT EXPERIMENT: 1935-1974 part-2/3
For nearly 40 years, Canada - the people of Canada - had control of their own currency! Imagine! They founded their own bank and issued their own currency with no debt obligations to banks. Taxes were low