Is it time to re-think the entire banking paradigm?

April 9, 2013 by · Leave a Comment
Filed under: Bank's Profits, taxes 

Other than the obvious (getting shot in the head by a contracted assassin hired by the banking cartel), what’s wrong with the following idea:

  • Have the Canadian government create a usable-by-the-people bank (the existing Bank of Canada currently just prints money and “sells” it to commercial banks, and even our own government borrows from the commercial banks with astronomical interest rates instead of borrowing directly from our own Bank of Canada, interest-free … it’s insane, really!)
  • Allow any Canadian citizen or resident with a loan held through the bank to get a significant (if not entire) reduction from paying taxes

The government is the only legal entity in Canada that’s TECHNICALLY allowed to print money. Though if you know anything about fractional reserve, you’ll know that banks make money out of thin air through debts. It’s a system that has enabled the 1% to grow while the other 99% fall deeper and deeper into debt.

If Canada got into the banking business:

  • We’d pay less in taxes
  • We’d continue to pay interest on loans
  • The “banking” profits from this newly structured Canada’s People’s Bank via interest payments would be channled back to the people via education, health care, social services and infrastructure
  • The banking profits (instead of taxes) could amount to $1.6 billion, per QUARTER
  • Commercial banks would shrivel up and die
  • Wealth would be once again distributed more evenly among the people, you know, the ones who are putting up all the labour that generates the creation of money.

One thing is for certain though, the government that sets something like this in motion would be one that truly represents the people, and is not caught up in a) entitlement (google Harper, Christy Clark, Adrian Dix, or … name your MP or Senator) or b) the cult-of-personality (google Justin Trudeau). To truly represent the average Canadian, MPs would need to be, um, average Canadians. The notion of having millions at your fingertips is not typically representative of the norm.

Governments need to represent people, not corporations. The idea that the benefits will “trickle down” to the people (which is the current justification of governments) is clearly not working.

BMO, as we all know, made a PROFIT of 2.07 billion in the first quarter of 2013. And instead of trickling down the profits by way of raises to their front-liners, they contract out their jobs to foreigners. Would a Canadian bank owned and run BY THE CANADIAN PEOPLE do this? Well, okay, maybe … with the current crew at the helm. But not with ethical Canadian-centric, people-centric Canadians running the show.

I think it’s a pretty good idea, but then I’m also a tad arrogant about my own smartiocity. So, I need my dear readers to ground me…. Why, pray tell, would this not work?

In declaring bankruptcy, you are robbing banks — of fake money

January 19, 2013 by · Leave a Comment
Filed under: Bank's Profits, Bankruptcy, debt relief, taxes, Videos 

Good god if a twelve year old gets it, surely the rest of us can!

When you take a loan from a bank, the banks literally invent that money. When you pay interest on that loan, banks are getting what I call sweat money (money that you have worked for) in return for their invented money.

When you can’t repay your loans, there are the loan collectors who are very good at making you feel like shit about not being able to pay back imaginary money — which, typically by the time they are knocking at your doors, is mostly interest that you are repaying. You’ve probably already paid an amount equal to the principal.

The government, probably because they know it’s a scam, has created an out, commonly known as Bankruptcy. Many people associate bankruptcy with embarrassment and shame, even though it’s quite accepted as a corporate strategy.

We’ve got to get over that. Bankruptcy is a legitimate way of making debt go away. Yes, there are costs, both monetary and lifestyle. But nothing that compares to hanging on to the debt till your dying days. With Bankruptcy, there is a definitive end to the pain. With debt repayment in full, especially when you don’t have the means to repay for whatever reason, you can live under duress for a long long time.

There are also in between ways to resolve your debt. Banks won’t tell you about these options. If you get a good consultant (such as myself) or a good Credit Counselling rep or a good Trustee, you can get all the facts.

Do yourself a favour. Get informed. It can, literally, save your life.

Personal debt and government cutbacks

November 16, 2012 by · Leave a Comment
Filed under: Bank's Profits, Bankruptcy, Debt Management, debt relief, taxes 

First, let me emphasize that I am not an accountant or a financial analyst of any sort. I’m merely an individual who has gone through bankruptcy herself, and recognizes the value of the range of strategies that are individually available when it comes to debt.

Then, let me say that it makes a lot of sense to me that in times of financially difficult times (ie recessions and depressions), that government increases its spending, thereby stimulating growth in the economy. When governments spend (infrastructure development, social supports including mental health support), people have jobs. When people have jobs, they spend money. When they spend money, the economy is stimulated, more taxes are paid (and collected) and so on.

In times of financial distress, the job of government is to spend, not cut. See this short clip of Daniel Altman, a Chief Economist with Big Think, or the video by John Green that I recently blogged about.

I’ll grant that it’s not that easy. There are experts on both sides of the debate.

But this is what I see:

Governments are cutting jobs. The Canadian government recently “boasted” cuts of 11,000 through early retirement and collapsing vacant jobs. That means we are LESS millions of dollars in the economy. Mortgages haven’t collapsed, nor have university tuitions, nor has the “basket of goods” used to estimate poverty. Gas prices continue to rise. Conequently, there is increased debt.

It can be said that these debts are mini-stimuli for the economy, but personally I don’t believe that that is a burden that should fall to the individual.

I think we need NEW leadership. When governments DON’T spend during economic downturns, the financial simuli comes from increased individual debt that SOLELY benefits the banks.

Until that time comes, Canadians need to get informed of what their REAL options are when it comes to resolving their debt.

Contact me. I can give you an unbiased birds-eye view of your options.

How convoluted the presentation of money really is

October 31, 2012 by · Leave a Comment
Filed under: taxes 

Here’s an excellent bird’s eye view of the spin around government finances. Yes, it’s about the American system, and yes, ours is significantly different. But the stripping of anxieties may well be the same. Also, this fellow recommends what I’ve heard elsewhere, which is that in times of financial hardship, governments should be SPENDING in order to stimulate the economy instead of further cutting back.

Anyway. Here’s a well-spent six minutes. Enjoy!

BMO profit rises 27%

Wow. Hidden in the back links of the CBC Business section is this wee little headline that screams, “BMO profit rises 27%.” Read more

The “Natural Person Theory” smacks of snake oil

CBC just posted the following video along with the news story, B.C. tax evader sentenced to 4½ years:

An anti-tax crusader from Chilliwack, B.C., who counselled hundreds of people to evade millions of dollars in income tax has been sentenced to 4½ years in prison.

Russell Porisky ran the Paradigm Education group, giving seminars based on his “natural person theory” to an estimated 800 people since 2003.
Read more

When a 12-year old understands banks, debt and taxes, perhaps there’s hope for the rest of us

From the Youtube page:

This is my daughter. She gave this speech at a businees meeting in front of 600 people. Her eyes have been opened to a scam that is being perpetrated upon Canadians and the rest of the world. I am the owner of this video. Feel free to use it freely without altering the content in a manner that would draw conclusions unintended by the speech. Read more