6139008-History-of-Money

In Canada, although the Bank of Canada was bought by the government in 1938, we don’t really know what agreementtranspired between the former owners and the government. If it’s a similar arrangement to that of the Bank of England,then Canadians will be forking billions in interest payments to the former owners forever. Today only about 4 percent ofthe money in circulation in Canada is Bank of Canada legal tender. In other words, 96 percent of Canadian money iscreated by the private banks. In 1945 the Bank of Canada accounted for 27 percent of the country’s money. At that timethe bank rate of interest was only 1.5 percent and the Canadian economy boomed. Also, the Bank of Canada is not keenon giving loans in Canadian dollars which forces many Canadian businesses to borrow in the US. Thus, the Bank ofCanada is not fulfilling its role which is to create debt and interest free money; thus the Illuminati Bankers of the US canget to fill that role and collect lots of interest. In this sense, the Bank of Canada has become an agent of the IlluminatiBankers. Note that the reserve ratio requirement is almost zero now for Canadian banks. The banks had been bailed outby enabling them to quadruple their holdings of federal government bonds by being able to acquire them without puttingup any of their own money. The statutory reserves - were some 8% to 10% of the deposits the banks received in theirchequing accounts that had to be redeposited on an interest-free basis with the Bank of Canada and such reserves havebeen abolished in a bill sneaked through parliament in 1991 without debate or press release. From a "lender of the lastresort", the government had simply moved into the position of "the donor of the first resort". Throughout the 1980s it hadbailed out bankrupt banks. And since the government of Canada is the sole shareholder of the Bank of Canada, when itswitched its borrowing from its own bank to the distressed banks, they lent back to the government some of the money ithad bestowed on them as a gift. The taxpayers bailed out the banks but the details have been withheld from the public.Even more scandalous, after being bailed out so sumptuously, the banks were further deregulated and allowed to takeover stock market brokerages in Canada and abroad, and underwriting and merchant banking establishments, derivativeboutiques - such a jumble of businesses incompatible with banking that the mighty banks could not begin to keep track ofthe clashing relationships that resulted. Thus as part of the World-wide bail-out of banks in trouble, the Bank forInternational Settlements, had declared the debt of developed countries to be risk-free , hence requiring no further capitalfor banks to acquire. But at the same time governments throughout the World had put an end to the statutory reservesthat had served as an alternative to higher interest rates to lick perceived "inflation". But if you raise interest rates, thehuge bond hoard with lower coupons held by the banks fall below market value. And the banks thus lose much of theirremaining capital from their very rescue package. There has been a massive redistribution of the national income, andwith the increasing break-down of or our infrastructure and the ongoing voracity of our banks, it continues, day and night.The last bailout of our banks was no one-shot affair, but an ongoing entitlement. Remember, most of our taxes andexpenditures go to pay the interest (homage, tithe, whatever you want to call it) to the ruling banking dynasties, and inaddition, inflation also serves to reduce the value of money and is an additional hidden tax, i.e. we are their slaves!CANADA’S TOTAL DEBT BOTH PUBLIC AND PRIVATE FOR 1980:Federal 1979 98,461,000,000Provincial & Local Government 1978 46,875,000,000Corporation 1978 421,293,000,000Consumer’s Credit 1979 37,661,000,000SUBTOTAL 604,290,000,000Residential 1980 57,950,000,000Total for 1980 662,240,000,000CANADA’S TOTAL DEBT BOTH PUBLIC AND PRIVATE FOR 1992:Federal 1992 429,618,000,000Provincial & Local Government 1992 209,230,000,000Corporation 1989 1,536,133,000,000Consumer’s Credit 1991 99,634,000,000SUBTOTAL 2,274,615,000,000Residential 1991 200,673,000,000TOTAL for 1992 2,475,288,000,000In 1968, when Pierre Trudeau came to office, our total accumulated national debt stood at $16.7 billion. We had foughttwo world wars, been through the depression of the 30s and all we owed was $16.7 billion. After 16 years of PierreTrudeau and the short blip that was Joe Clark, the national debt had risen to $200 billion. What is especially significantabout these years is not only that Trudeau left us with this huge unpaid bill, but that he racked up the debt during a timewhen the government had access to more tax revenue than any other government to that point. Under the TrudeauLiberals, from 1977 to 1984 alone, they piled up more than $150 billion in government debt and increased spending from$43 billion a year to $109 billion. It doesn’t take a Chartered Financial Analyst to figure out that moving out of controlledspending of $43 billion a year to $109 billion in seven years does not constitute getting control of things. Add to this factthat they increased borrowing from just over $10 billion a year to $38 billion and one gets an accurate picture of just howdisastrous the Trudeau administration was at financial management. After nine years of Brian Mulroney as PrimeMinister, federal spending went from $109 billion a year to $160 billion a year, government borrowing averaged an annual$30 billion and the national debt had risen to $429 billion.By 1992-1993 the federal government was at the point where the interest on the accumulated borrowing was controllingthe federal budget and the lives of Canadians. It had become the largest single federal expenditure, eating up hugechunks of tax revenue. Annual interest was in the area of $42 billion, which was an equivalent of nearly $200 a month forevery person in the country who filed an income tax. It took all the money collected in corporate income tax from theGST, all the money collected in sales taxes, all the money collected in excise duties, plus a few billion more, just to payThe Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 105