We, the undersigned, believe that, under no circumstances should the sovereign Government of Canada borrow from commercial banks;
THAT to do so results in unnecessary compound interest payments; and so REDIRECTS government money away from health care, education,and socio-environmental programs that Canadians want.
THAT moneys borrowed by our governments from the Bank of Canada would (i) be exempt from compound interest charges; (ii) could be used in service of social programs; and (iii) would not cause inflation: in fact, it is borrowing from commercial banks at compound interest rates that causes inflation and inhibits social program development.
THEREFORE WE REQUEST that the Federal Government, through the Federal Finance Minister, direct [Bank of Canada Act, s. 14(2)] the Governor of the Bank of Canada to create, through the Bank of Canada, progressively more of the money Canadian governments need, thereby (i) avoiding counterproductive and egregious debt payments which benefit only the financial 'community'; and (ii) making available more of the funding needed to ensure and be of benefit to the wellbeing of all Canadians.
The views expressed in this petition are solely those of the petition's sponsor and do not in any way reflect the views of iPetitions. iPetitions is solely a provider of technical services to the petition sponsor and cannot be held liable for any damages or injury or other harm arising from this petition. In the event no adequate sponsor is named, iPetitions will consider the individual account holder with which the petition was created as the lawful sponsor.