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 current system drains our public budgets to pay unnecessary interest to private banks. Email your member of parliament today to demand they use the Bank of Canada for public funding instead. Keep the pressure on so they cannot ignore the facts.
November 20, 2013
We just crossed a meaningful threshold that proves this issue has real momentum. Post this link on Facebook to keep the pressure on the Finance Minister. Email your local representative today and demand that they support public money creation.
31 Comments
E
Edd Twohig
10 years ago
Featured
No Member of Parliament seems to understand the economic disaster caused by the loss of control of our money supply.
J
James MacInnis
10 years ago
Featured
Having yeilded soverign control over their right to create its own money supply, Canada's polititions in collusion with private banks have stolen Canadians right to create their own money supply in exchange for borrowing and the compounded cost of interest payments which have turned our once free nation into a nation of debt slaves.
J
john hall
10 years ago
Featured
I cannot understand why a Government needs commercial banks to issue its currency. What value do they add?
E
Eric Denali
11 years ago
Featured
No money is created to pay the interest charges so principal can never be paid off. Vehicle manufacturers give 0% Loans. BOC can do the same. So lets make this work.
B
B R Fuller
11 years ago
Featured
How ludicrous for a government to saddle it's citizens with huge amounts of interest bearing debt to be paid to private bankers for their profit when the same government could borrow practically interest free from it's own bank. To do otherwise is a sign of criminality on a grand scale that will eventually have to be reckoned with.
G
Gordon Coggins
11 years ago
Featured
In the current war for control of the world between national governments and private corporations, the corporations are winning, hands down. National governments need to be smarter. One good step would be to opt out of secret international monetary and "trade" agreements. and regain control of their own national cash and credit supply.
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.
Updates
November 20, 2013
The current system drains our public budgets to pay unnecessary interest to private banks. Email your member of parliament today to demand they use the Bank of Canada for public funding instead. Keep the pressure on so they cannot ignore the facts.
November 20, 2013
We just crossed a meaningful threshold that proves this issue has real momentum. Post this link on Facebook to keep the pressure on the Finance Minister. Email your local representative today and demand that they support public money creation.
31 Comments
E
Edd Twohig
10 years ago
Featured
No Member of Parliament seems to understand the economic disaster caused by the loss of control of our money supply.
J
James MacInnis
10 years ago
Featured
Having yeilded soverign control over their right to create its own money supply, Canada's polititions in collusion with private banks have stolen Canadians right to create their own money supply in exchange for borrowing and the compounded cost of interest payments which have turned our once free nation into a nation of debt slaves.
J
john hall
10 years ago
Featured
I cannot understand why a Government needs commercial banks to issue its currency. What value do they add?
E
Eric Denali
11 years ago
Featured
No money is created to pay the interest charges so principal can never be paid off. Vehicle manufacturers give 0% Loans. BOC can do the same. So lets make this work.
B
B R Fuller
11 years ago
Featured
How ludicrous for a government to saddle it's citizens with huge amounts of interest bearing debt to be paid to private bankers for their profit when the same government could borrow practically interest free from it's own bank. To do otherwise is a sign of criminality on a grand scale that will eventually have to be reckoned with.
G
Gordon Coggins
11 years ago
Featured
In the current war for control of the world between national governments and private corporations, the corporations are winning, hands down. National governments need to be smarter. One good step would be to opt out of secret international monetary and "trade" agreements. and regain control of their own national cash and credit supply.
No Member of Parliament seems to understand the economic disaster caused by the loss of control of our money supply.