More on understanding how debt works in Canada

December 20, 2011 by
Filed under: Bank's Profits, Debt Management, debt relief, Videos 

Vancouver Island’s own Bill Abram talks about how the private Canadian banking system is enslaving the public through debt and interest on that debt to our government who has the right to create it’s own money through the Bank of Canada. Understanding how money works is the first step to alleviating guilt when it comes to finding debt-relief solutions.

First video

Over the past 4 years, the Canadian people have paid $137.4 billion in interest on money borrowed from private banks whereas the Bank of Canada could legally print the public’s money into existence rather than borrowing it at interest. “They’ve paid out this huge sum because our government has failed to abide by the law.” Abram, a retired high school teacher and activist on Vancouver Island, B.C., explicates the trick of fractional reserve banking (part 1 of a series; snowshoefilms yoryevrah

Second Video

THE CRIME OF THE CANADIAN BANKING SYSTEM For nearly 40 years, Canada – the people of Canada – had control of their own currency! Imagine! They founded their own bank and issued their own currency with no debt obligations to banks. Taxes were low and debt was too. They got themselves out of the depression that had been induced by the international banking cartel in 1929. By 1934, through the driving force of one man — Gerald Grattan McGeer, Mayor of Vancouver, B.C. — Canada founded the Bank of Canada and they were on their way to debt-free recovery. Problem was, the Canadians, busy building their own country, didn’t think about, weren’t taught about, didn’t fully know about what they had — and they lost it to the banking cartel in 1974. A Bilderberg-banker plan to take it away from them and mire them back in deep debt, forcing them to sell off and privatize everything they’d accomplished in those healthy four decades. Canada’s Great Experiment was over. But all isn’t lost. The structure is still there and so is the Bank of Canada. Bill Abram tells the story, also, of Nobel-prize winner Mohammad Yunus’s bank, which demonstrates “poverty is not caused by poor people; poverty is caused by the system.” Hocus pocus malthusianism as practiced by the Bilderbergers and their minions is exposed by Yunus and Abram.

Third video

Bill Abram remembers Gerald Grattan McGeer, a crusading labor lawyer representing the Vancouver Trades & Labour Council (Canada) who got a chance to interrogate and lecture the vaunted Lord MacMillan Banking Commission, sent over from England in depression years to fix things up. McGeer, who had done his homework, got bankers Graham Towers to admit, “If Parliament wants to change the form of operating the banking system, then certainly that is within the power of Parliament. So they did. Usury-free money for nearly 20 years: a nearly debt-free era of investment in the Commons, and the people of Canada.

Post to Twitter

Comments

Tell me what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!