6139008-History-of-Money

3. One of the most mistaken ideas, with which Canadians especially are cursed, is the idea that a country should maintainits interest rates higher than those of its main trading partners "to attract foreign investment." To begin with, highinterest rates inhibit real investment spending on new buildings, machinery and equipment by diverting funds to financegovernment deficits. Furthermore, the foreign funds attracted to Canada by high interest rates cannot be spent onCanadian employees and products. They are only useful for importing foreign goods and making payments on foreigndebts. Moreover, these funds bid up the value of the Canadian dollar in foreign exchange markets, giving foreign goods adomestic price advantage over similar goods produced in Canada, while making it harder for Canada to export. Thus theinflow of foreign funds actually contributes to a "current account deficit" and depresses the Canadian economy. Those whoargue that Canada must borrow on "capital account" because she has a "current account deficit" have cause and effecttotally reversed. Canada has a current account deficit because she is borrowing on capital account. What she needs to dois to stop borrowing, lower interest rates until she stops attracting foreign funds, and let the Canadian dollar find its ownlevel in the foreign currency markets.When the Bank of Canada encourages the Canadian government, provinces, and municipalities to borrow in New York andTokyo it is a betrayal of Canada. Where should they borrow when new money is needed for government spending? Theyshould borrow at the government owned Bank of Canada, paying near zero interest rates-just sufficient to cover theBank's running expenses.John H. Hotson was professor emeritus of economics University of Waterloo and executive director of theCommittee on Monetary and Economic Reform (COMER), a Canadian based network of economists workingfor economic and monetary reform. The above section is based on a series he published in the October 1994,November 1994, and January 1995 issues of Economic Reform, the COMER newsletter, Comer Publications, 3284 YongeSt., Suite 500, Toronto, Ontario, M4N 3M7, fax (416) 486-4674. He gave the PCD Forum permission to use this materialonly five days before his untimely death on January 21, 1996 following heart surgery.History reveals that the masses can be conquered by the use of one of three main methods:• The most common is conquest by war. In time, though, this method usually fails, because the captives hate thecaptors and rise up and drive them out if they can. Much force is needed to maintain control, making it expensivefor the conquering nation.• A second method is by propaganda or ideology, where the captives are convinced they must give their captorspart of their earnings as "obedience to God." Such a captivity is vulnerable to philosophical exposure or overthrowby armed force, since propaganda or ideology by its nature lacks military force to regain control, once its captivesbecome "disillusioned."• The third method can be called economic conquest. It takes place when nations are placed under "tribute" withoutthe use of visible force or coercion, so that the victims do not realize they have been conquered. "Tribute" iscollected from them in the form of "legal" debts and taxes, and they believe they are paying it for their own good,for the good of others, or to protect all from some enemy. Their captors become their "benefactors" and"protectors". Although this is the slowest to impose, it is often quite long lasting, as the captives do not see anymilitary force arrayed against them, their religion is left more or less intact, they have freedom to speak andtravel, and they participate in "elections" for their rulers. Without realizing it, they are conquered, and theinstruments of their own society are used to transfer their wealth to their captors and make the conquestcomplete.In 1900 the average American worker paid few taxes and had little debt. Last year payments on debts and taxes tookmore than half of what he earned. We have been financially conquered and are still being conquered! Simply put, a fewpeople who own the central banks have usurped and monopolized the power to create money from thepeople’s government and are ever-growing in wealth and power because of this and will wind up owning allof the World’s resources in the future.George Washington 1787: "Every lover of his country will therefore be solicitous to find out some speedy remedy forthis alarming evil. There is no possible substitute for the loss of commerce. Our first grand object, therefore, it itsrestoration. I presume not to dictate or direct. It is a subject that will require the deepest deliberations and researches ofthe wisest and more experienced men in America to fully comprehend. It probably belongs to no one man existing topossess all the qualifications required to trace the course of American commerce through all intricate paths and to thoseand only those that shall lead the United States to future glory and prosperity I am sanguine in the belief of the possibilitythat we may one day become a great commercial and flourishing nation. But if in the pursuit of the means we shouldunfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stabto our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on thehuman body. They prey on the vitals and ultimately destroy them." "Paper money has had the effect in your state that itwill ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." (letterto J. Bowen, Rhode Island, Jan. 9, 1787)President George Washington, Farewell Address, 1796: "Let me now warn you in the most solemn manner. Observegood faith and justice toward all nations. Cultivate peace and harmony with all. The Nation which indulges toward anotheran habitual hatred or an habitual fondness is in some degree a slave. It is a slave to its animosity or to its affection, eitherof which is sufficient to lead it astray from its duty and its interest."The Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 145