Restore The Bank of Canada
We the undersigned demand that the Canadian government restore the Bank of Canada to it's 1938-1974 usage. In that time frame the Bank of Canada was the sole creator of Canadian currency. We were able to fund massive infrastructure programs and maintain our average national debt in the area of $1 billion annually.
In 1974, regulations on the Bank of Canada were changed and we started to spiral into a never ending cycle of debt. Privately owned international banks became able to create Canadian currency under a system of fractional reserve banking.
In the 38 years since the changes in 1974, our national debt has now reached $588 billion and is showing no signs of slowing down. the Canadian tax payers are on the hook for daily payments of $170 million. On the interest alone! This works out to be $60 billion dollars a year on just interest payments.
In our current times of economic hardships and austerity cuts. Common sense only dictates that ending this current cycle will greatly improve our economic standings and quality of life.