The Crime of the Canadian Banking System 4/4

[Adexter23]

Its going to take nothing less than a Prime Minister we elect with a MAJOR landslide victory to have enough power to say..."Were taking our Sovereignty back". Till then, forget it. A major revolution by the people removing the evil elements from/out of our society, and the collapse of this current system.

[MrJcframer]

God Bless you Bill, we need more like you. You would give Alex Jones a run for his, "dare i say it" money? You should do a documentry on the WCSB show the billons they steal from those that truly deserve it. how they drag it on for years hopeing that that hard working joe will die or just fade away!!!!!!!!!!!

[verummossolvovos]

The current (2011) governor of THE BANK OF CANADA, was employed by GOLDMAN SACHS for thirteen (13) years, and appointed to managing director during that time.

Until the control of the issuance of currency and, credit, is restored to government and, recognized as its most conspicuous and sacred responsibility, all talks of the sovereignty of Parliament and, of democracy, is idle and futile - William Lyon Mackenzie King.

[OttoLund]

abeldanger(dot)net

[Bored197272]

...And the comparison od the US backing system, is simply not possible. Our systems are compeltely different. There is no comparison.

And the last interview as per the video, If you believe that, then you really need to sit back and think about what you believe on the internet and TV and the like.

In fact the series was an interesting take on our system, slightly off by sound knowledge of the financial systems, but the video 'interview' at the end with cound bytes, or script, ruins it.

[Bored197272]

...videos is very intersting, and i agree that there are failings. But there are MANY other factors that lead to the increase of our national (Governement, not private) debt. which this series dilutes a littel bit and is a bit misleading.

Look into all the differnt programs that were created in the late '60's and '70's that have balloned beyond all proportions of their original intentions that drive our 'operating costs' (Costs of running our country) much higher than ever expected.

[Bored197272]

People, please. this is completely unsound and false.

Our chartered banks do not 'Create' nor do they print 'New' money as this video tried very hard to protray.

'New money' is created by the re-loaning of money, and the money being deposited bank into our banking system, then reloaned out again, thereby 'creating' new money, with a reserve held.

Videos like this and others here on you tube are completely mis-informing the gerneal public.

The time line of a chart used in this series of ..

[VaudevilleRant]

@Bored197272 On the contrary my friend, YOU have just miss-informed us. What you are describing is called "Fractional Reserve Banking". All though this is true for US residents, When Brian Mulruney was Prime Minister of Canada, his party passed legislation that completely removed the requirement of "Fractional Reserve Banking" from our country. There is in fact, not a single bank in our country that is required by law to hold a reserve of any kind. In our country, money is created by "NEW" loans

[Bored197272]

@VaudevilleRant Well Sir, you are correct. Canada no onger has a "required" reserve. In fact there are many countries that do not require it these days, and if they do by governemnt monetary policy, it is a small amount (1%) dependaant uopn the country. Some as high as 20%.

So now that you have corrected me, what exactly is your point?

Let me ask, what are the bank internal monetary policies for reserve? Do they carry cash at all anymore? ...

[Bored197272]

@VaudevilleRant More over, for all the printed 'Cash', that is circulating in the system, where is all kept? There must be actual cash correct? Who has it all?

And the creation of cash in our country, Canada, is only created in new loans? Or are there other manners in which cash is created? If so, what affect does it have on the monetary policies of the Bank of Can? And moreover what affect does it have on the monetary value?

Moreovee, again, .. cont

[Bored197272]

@VaudevilleRant Why are you and others trying to sum up Canada's monetary policy and banking institutions, very strong and stable institutions, in a few lines or a ten minute video on Youtube?

More over, if you honestly believe that you can sum it all up, and actually inform anyone on the most intricate part of our social and economic fabric in this fashion, You sir are seriously miss-informed.

And Sir, I do know what Fractional Banking is.

[VaudevilleRant]

@Bored197272 You are a great example of what John Kenneth Galbraith once said: "The process by which banks create money is so simple that the mind is repelled." My point was that all money is loaned into existence. Period. Even in our own country. That includes the money that is with in the Fractional Reserve Banking system. Sure, banks have cash on hand. But that supply of cash (along with all the cash in circulation) grows exponentially. -continued-

[VaudevilleRant]

@Bored197272 Since all money is loaned into existence (with interest), then there will always be more debt then there is money. Now we may not have a Federal Reserve like the US do, but our money is still created the same way as there's is. We are just behind the US in the amount of debt we have. But you can bet your life that we'll get to where they are if the global economy doesn't collapse first. The video is showing that our government has the ability to get it's money from the Bank of Can.

[VaudevilleRant]

@Bored197272 Rather than getting our money from the Bank of Canada at little to no interest, the Bank of Canada issues an interest bearing Bond to a commercial bank and injects THAT money into the system as NEW Canadian Currency. Rather than our government issuing a LOW interest bearing bond to the Bank of Canada and spending that money on infrastructure or social policies. The result is that rather than having a debt that IS possible to pay off, we have debt that can NEVER be paid off. -Cont.-

[VaudevilleRant]

@Bored197272 No one is trying to "Sum Up" or pick on Canada's monetary policy, we're trying to expose it. Too many Canadians believe that we are financially untouchable, that we'll never end up like the States. But that is far from the truth. We are going to go under the same as them unless something changes. Canadians have the "Titanic" mentality: "This ship will never sink!", meanwhile, half of it's underwater and only a hand full of people are evacuating. I digress.... -continued-

[VaudevilleRant]

@Bored197272 I'm currently working on a video about this. I don't know how long it will take me, but can assure you that the content in my video will be backed up by verifiable, legitimate sources of information. Not some retired school teacher with charts that are 10 years old. That's why I don't know how long it will take me to complete. The "un-skewed" information is hard to come by because they don't want you to know. So you really have to dig for it. If I find I'm wrong, I will gladly admit

[Bored197272]

@VaudevilleRant I understnad your point of 'Debt' and not being able to pay it off. Butm on the other hand if all monies are created and spent by a Federal or Government power on infrastructure, then where does the 'New' Money get injected into the financial system?

ie. Commerce. other than through direct spending. The money that is brought forth throught the chartered banks is direct into commerce and pricate hands.

The other way, is very much a communist ideal. Contd...

[Bored197272]

@VaudevilleRant The Communist ideal of the central government controling everything - including the ownership of all assets such as corporations that we here in Canada have as pricate industry. There is a fine line and a definive one that can not be crossed. Without completely changin our view of commerce and ownership.

That said, for other readers, please do not confuse this conversation with Socialism.

Contd

[Bored197272]

@VaudevilleRant As for your new video. Please keep me informed. I would be very interested in watching it.

What are your views on State vs private ownership of assets? Or the direct funding of them throught he 'Central' or Bank of Canada?

[VaudevilleRant]

@Bored197272 Part 12) As for your question on State vs Private ownership of assets, I'm not sure how to answer that. Mostly because there are many different kinds of assets & I don't want to assume what you're refering to. and one last thing: Damn YouTube and their 487 character limit!! Pain in our ASS!!

[VaudevilleRant]

@Bored197272 Part 11)So a brand new round will pay for itself by allowing people to commute to their jobs quicker and more efficiantly, and a new route for the transportation of goods & services which makes money in the grand scheme of things. So there's really nothing communist about spending on ifrastructue. it's a solid community investment that will see a return (unlike Harper's 30 some odd military jets).

[VaudevilleRant]

@Bored197272 Part 10) So that company will deposit some of that money into a bank, and the rest will be deposited into a bank by it's employees once they're paid be their employers. And the best part about infrastucture projects is that over time it pays for itself (unless it's maintanence).

[VaudevilleRant]

@Bored197272

Part 9) Then they take say 60% to 70% of that lump sum and pay down debt (which if they only owed the Bank of CAN, would be minimal compared to where it's at today). Then, the remaing would go into infrastucture (roads, transit, schools, parks, etc.) Well there's your answer: they have to pay a Company to take on those projects. Like a Contractor that employs people to build those things.

[VaudevilleRant]

@Bored197272 Part 8) You asked: "if money is created/spent by the GOV on infrastucture, then where/how does new money get injected in to the financial system?" The answer ti that is actually hidden with in your question. Lets say, for example, that the federal Gov calls on the Bank of CAN for it's loan equalling 33% of it's projected revenue. And add that money to all the Taxes & GST's and other such funds that are collected yearly from the public (busness & people).

[VaudevilleRant]

@Bored197272 Part 7) Additionally, our government does have the option of borrowing money from the Bank of Canada. (up to 33% of projeced revenue for the Federal Gov, & 25% for the provincial Gov, and at little to no interest) But it chooses not to. Instead, it borrows money from the same banks we do at a higher interest rate than the Bank of Canada would charge. And yes, the money they borrow is also new money.

[VaudevilleRant]

@Bored197272 Part 6) Yes, banks do keep cash on hand for potential withdrawels, but bear in mind, that money isn't on "the books" as a "reserve" since our banks reserves are legally "0" (thanks to Brian Mulruney). And what's worse is the fact that the money that's been borrowed will eventually be deposited into another bank, and when that happens, it will be put on the books as new money since it is after all, a fresh new deposit to the bank recieving it.

[VaudevilleRant]

@Bored197272 Part 5) Canada does not actually use it's bonds to add to the money supply as they have a HORRIBLE rate of return. Now, in both of those scenarios, the money that is loaned out is essentially newly created money. Since our banks are not required to keep a reserve, that money being loaned does not have to be logged in "the books" as having come out of a "reserve", because there isn't one.

[VaudevilleRant]

@Bored197272 Part 4) In other words, replace the Federal Reserve with every public/commercial bank in the US, and you end up with the same arrangment that we have here in Canada. To summarize, there are 2 instances Canadian currency is created, both using the same method. Scenario 1) You or I, or any busness/company takes out a loan from any financial institution. Scenario 2) The Canadian Government (both provincially & federally) takes out a loan to cover various expences.

[VaudevilleRant]

@Bored197272 Part 3) I was accurate though, in saying that Canada's money is created by the public/commercial banks that opperate in this country every time they issue a loan (except things like mortgages I think). So what Bored197272 initially said does apply and can easily be sumed up by making this statement: Canada's version of the United States' Federal Reserve is merely the Fractional Reserve Banking system itself.

[VaudevilleRant]

@Bored197272 Part 2) As per the Bank of Canada's website, they do not take on the responsabilty of creating new money, rather they "attempt" to regulate it. However, they are highly involved when it comes to printing it in its physical form. But they are not responsible for the actual growth of Canada's money supply in both physical notes & electronic form.

[VaudevilleRant]

@Bored197272 Part 1 of 12) First off, I need to correct myself. After doing some research for my upcoming video on this topic, I've discovered that I was partially wrong about something. (I appologize to everyone here for that) I stated in an earlier comment: "the Bank of Canada issues an interest bearing Bond to a comercial bank & injects that money into the system as new Canadian currency." However ever this is a missunderstanding (and a common one here on the internet).

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[tyristorium]

Will you tell me why a government with power to create money, should give that power away to a private monopoly, and then borrow that which parliament can create itself, back at interest, to the point of national bankrupcy?"

[harrisjm62]

@tyristorium the reason why is because the interest rate on the money helps determine the value of money itself. interest rates and inflation/deflation are intertwined. in actuality then it would take much more than the number you actually see to bankrupt a country. much of that huge debt you see actually means nothing. it has no effect, the banks know this and there would be no bankruptcy of the government because banks take this into account. make a bit more sense now?

[harrisjm62]

Respond to this video... we dont work on the gold standard anymore because, well, we're running out of gold and also many countries would be fucked since they dont have any gold. its just easier to use interest rates for loans that basically never have to be paid. they are there only for determining exchange rates. that's all.

[AR15DAN]

We need a revolution. Hopefully it would be peaceful, but it can be violent if necessary. 

[crashtheimf]

The only way out is to get the word out, send to as many people as you can. Talk about it to anyone you know. Throw it out into political conversations. Get on public television...spam the spammers , and last but not least email our finance minister to take moral responsibility and lead us out of the trap laid by those that have been corrupted,,,

[G2Gunner]

wow, this was an eye opener to me. i never really understood the whole money system in Canada. i couldn't understand where all the debt was coming from. I thought the bank of Canada had a more active role. If this is law why is it being broken and the nation is borring money from private banks that charge intrest. this is absolutely ridiculous, it is treasonous, and government needs to start being accountable to this and change back to policies already in place to protect us.

[harrisjm62]

@G2Gunner there's alot of false stuff here. for instance, the reason for taking out money on a loan with interest is so that the value of money itself can be determined. there is no fear for bankruptcy because the banks know that, its just a price regulator and so it would take much much more to have them declare a country bankrupt. the interest rate is linked with both inflation/deflation, which is basically the value (supply/demand) for money.

[harrisjm62]

Respond to this video... we dont work on the gold standard anymore because, well, we're running out of gold and also many countries would be fucked since they dont have any gold. its just easier to use interest rates for loans that basically never have to be paid. they are there only for determining exchange rates. that's all. higher debt= shittier canadian dollar. in fact, sometimes a high debt is a good thing. seems crazy, but true. most of that debt never has to be paid.

[thatstheguy07]

TRUTH

[canadiankewldude]

as canadians we should follow the law, yes?

then lets force our mp's to follow the law and obey the bank of canada act before we become bankrupt.

[thatstheguy07]

@canadiankewldude Fuck the bank of Canada act. As Canadians, we should scrap that treasonous shit.

[Lejeus]

Watch the video called "Money As Debt" at the "Canadian Action Party .CA" website, it's on the right. I think these guys are trying to do something about this.

[shaun98si]

Does anyone know where one could find Gerry McGeer's book "conquest of poverty or money humanity and christianity"?

[pederman15]

fairly new to you tube. have learned alot. couldnt believe that federal reserve was privately owned. went on to jfk assasination. rothschild/bilderberg group. the palastinian ordeal. etc etc. the ways that the american people were hoaxed into wars. 911 being no different. do not belive there are terrorists other than american created/financed groups. we are coming to a one world government fairly soon that will be controlled by a handfull of people. urge all into checking on this.

[thatstheguy07]

@pederman15 Welcome to YT. Glad to see your eyes are wide open. You are correct on what you say.

[Bongofury361]

@pederman15

Forget about allusions to the "illuminati" or "free masons", it is the zionists who are pulling the strings, and are responsible for much of the world's strife--central banking, the slave trade, the world wars, etc., can all be attributed to the zionist jews who control the US gov't, most of the media (of NA), and pretty much everything that we see, hear, and are taught!

[pederman15]

@Bongofury361 yeah, thats pretty much what i figure. i just bunch them together. bilderberg or not, its controlled by jews

[3treU]

damn I learn a lot about history and really learn about the truth, if we do have system why politics don't do what the law of canada turn on to work and stop scammers as banks to stop making our own money, and making sense in our resture as it was in 1935 with better system as services for the people to the people..

[syprix]

So how do we as a people beet the bankers?

[cuv4xd]

Ya, it isn't our government, that's why.

Change will happen. Many will go to the gallows.

[bagger101]

Start a partition,,dont borrow from any banks..dont pay taxes and bitch bitch bitch

[steeleninth]

The only way is, I'm sorry to say....Force...the lawyers and politicians of today are as crooked as the" Mob" the only difference is that" We" give them the power by votes to obtain this greed............and they have the police and Armed Forces on thier side....

[B69ne]

@steeleninth if only the police and armed forces did their job and protected the people from a corrupt government rather than the opposite. They need to have proper morals and principals instead of just taking orders.

[flahr1]

People are so screwed up today, how do we reverse this?

A time is coming though and soon...

[adammarxist]

@flahr1 We need to take control of the banks and use them as a public democratic institution

[ryansimpsoncanada]

@flahr1 Wake the others and pray that their apathy is supplanted by outrage....

[nclusiau]

Very very interresting. I can see that so far, people don't seem to care. Thank you sir for telling the truth and thks to the person who shot that video.