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

April 9, 2013 by
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?

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