After watching that video of the little girl talking about the banking system the other day, I decided to write my MP. Below is the letter, and if you have strong feelings about this issue, which I hope you do as it affects your way of life, copy and past this letter and send it to your MP. Or write a version in your own words. You can find out who your MP is here… parl.gc.ca/Parlinfo/Compilations/HouseofCommons/MemberByPostalCode.aspx?Menu=HOC THE LETTER: Hi Mrs. Murray, I can imagine you get a barrage of emails so dont worry Im not expecting answer on this tomorrow, I just hope I do eventually hear back with your position on it and if it represents the concerns of your constituency what your plan moving forward would be. I was thinking about our banking system and how private banks are allowed to create credit to profit off the interest by injecting non-hard cash into our economy under the practice of fractionalized lending, or fractional reserve banking. And then it came to my attention that the canadian government borrows ITS money form private banks instead of its own central bank the Bank of Canada and uses OUR taxes to pay off ITS debt. This is especially interesting to me because the Government of Canada can borrow money from its own central bank at no interest because of the Bank of Canadas requirement to keep the balance book at zero matching their assets to their liabilities. I always wondered where the Canadian debt came from and the fact that I am learning it comes from private banks is outrageous to me. Essentially, banks create credit for the government which the government pays the interest off of with our taxes, which is hard money created by the Bank of Canada, which now the private banks get to keep. After creating credit leveraging the deposits of the Canadian people, that same lender will be paid back from the very people whose money they are leveraging. The canadian people should not be responsible for paying back the debt of their government. Moreover, the current approach is doing nothing to reverse, halt or even slow the mounting debt. Money and debt are the two single most important things that influence our lives. They are responsible for the growth of our economy and if the concept is flawed, being mismanaged, or purposely defrauding the canadian people to raise capital for its own interests, I would say this is cause for concern and a probe into what 35+ million people rely on to meet their day to day needs should be formed. Thank you very much for taking the time to read this and I look forward to your response. Sincerely,
Posted on: Fri, 28 Nov 2014 02:03:52 +0000
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