Federal Budget 2010 Explained -- Welcome to Loonieland

[Alpinex105]

introduce the gold standard lol

[dw235]

what's with the hockey jersey?

[Rickdeckard2020]

Canadians need to watch "Oh Canada Movie"

watch?v=IiBSdBDeucU

we are being raped by banks, it was partially fixed in the 30s, but since the people did not learn about the money racket it was easy for bankers to pay off politicians in the 70s to borrow at interest money created by banks, the amount of interest we are being defrauded out of is insane

[Greenlanegardens]

The conservative got the G.S.T. going after the biggest problem in Canada to-day the free trade and now the H.S.T. and you talk about the liberal .We are going in a very big depretion and we can't do anything about it our dollar already lost 40% even with the Euro great job Harper .

[garycalgary]

What bugs me is this: I know there is a limit to which they won't lend any more money but why not go into debt if it provides jobs and gives people the services they need.

You cut and people suffer.

[cobra5132000]

Time to vote CHP.

[chilmosis]

Can't people see this is by design, we need to be indebtted to be ruled, otherwise we'd create our money from the BOC, why do you think the banks make these monsterous profits

[Ravusaedes]

Yes, the way the International Banking system works is -- in a word -- insane. We pay Intrest on money that has never existed. The same piece of land that has balooned in price since WW II is still worth about the same about -- in gold. Electing in the same that will do the same as the old is not the answer. But given the field of contestants for the job; I don't have alot of faith -- and I vote! The whole banking system is a scam on all of the plebs but most will never wake up to see it.

[athlon866]

I've already signed. Should I sign again?

[pongo10able]

txpyr1948

I am very disappointed and resigned to the fact that we will never have a government that works FOR the people (as they claim to do). The conservatives are still the best choice - what does that tell you?? Trudeauism at it's worst!

[derfowvayer]

That's right! Over 90% of Canada's debt is INTEREST ON INTEREST from fake money the private banks printed from nothing. Why isn't THIS the real topic of discussion!!!!

[Rickdeckard2020]

@derfowvayer

"That's right! Over 90% of Canada's debt is INTEREST ON INTEREST from fake money the private banks printed from nothing. Why isn't THIS the real topic of discussion!!!!"

I agree with this but imo Fiat is not the problem and gold is a red herring, the important issue is WHO crontrols money and education of all people to avoid a repeat of the fractional reserve racket and private banking usury, and we also need iron clad anti-corruption mechanisms and whistleblower protection.

[derfowvayer]

In the meantime, we would be best to fund the government via the interest free Bank of Canada. At least we wouldn't be paying interest on air!! Watch Bill Abram's "The Crime of the Canadian Banking System". Did you know that of the 37 billion dollars, the Canadian government borrowed from 1867-1992, it mushroomed to over $400 billion by 1992, most of which came after 1974, when we started using the private banks to fund infrastructure and gov't programs.

[derfowvayer]

The sad truth is, all FIAT currencies end the same way, in disaster! Look at your history books: Brazil Cruzeiro, old Mexico Peso, Argentina Peso, Zimbabwe dollar, Weimar Germany Reichsmark, old US Continental, French Assignat, old Hungary Forint, old Poland Zlote. Find me an exception to this rule!!!

[derfowvayer]

And it's not only wars that burn up money. In Canada, people don't even really vote anymore. The older generation does, but the younger generation larger does not. I think for the 18-25 year-old group, it's something like 25%. At the same time, we have most apathetic and government reliant public in history. Funding all the government programs would be impossible under a metal standard since gold or silver, or even copper, cannot be printed.

[NORTHERNKONFLIKT]

great vid. this should get spots on national tv.

[boeseblog]

Great way of explaining the lunacy of out of control government spending!

David Boese

[ITHEREONETHATHASNT]

Today the provincial liberals in ontario said they plan to give all the sales tax agents a total of 25 million to switch jobs to Revenue Canada. INSANE! In any private company these people would be fired because their job no longer exists. I sometimes wonder if we are still employing type writer maintenance people!

[00dfm00]

Turn this into an advantage. Short the loonie!

[ITHEREONETHATHASNT]

@00dfm00 LOL

[kryogenikz]

How do you short the loonie? Is there an inverse etf for that?

[00dfm00]

Shorting in general is a high-risk play due to the unlimited upside potential of the asset. Currencies are very volitile. Shorting a currency can be like trying to catch a falling knife.

I know there are several inverse ETFs for the USD.

Rather than shorting the dollar, you could own gold, since Canada has/is following similar disasterous policies the US is and to a similar degree/capita. CAD will decline relative to stronger economies.

[mootinator]

Technically you can short *any* currency by taking out a loan funded in that currency.

[kryogenikz]

Smart concept. Never thought of it that way. I think I will just continue to buy gold and silver instead of accruing debt.

[eimb1999]

In a democratic society, people get the gov't that represents their collective intelligence.

The gov't is running the country into the ground because the vast majority of people are just too stupid to demand otherwise. But how many of YOU out there are willing to give up your thousands of federal grants, welfare checks, "social programs" and subsidies to reduce the size and scope of government to allow the economy to thrive and make the country work?

Hmm. I thought not.

[derfowvayer]

This is why, I think eventually we are headed for a metal backed currency. The trouble with a FIAT one, no matter how organized, or smart the money managers think they are, the result is the same: Governments eventually can't help themselves. Did you know that the entire First and Second World wars were fought by printing money? Thought they were on the gold standard then? No way could any country afford to empty their treasure chests to fund such an expensive proposition (war!).

[untubeboobable]

Let's face it - politicians don't know how to run the country (except into the ground). As long as we keep electing politicians, we're doomed. We need to go to Plan B. Does anyone have a Plan B? Enough talk. Time for action! Does anyone know what to do next? Complaining about it, mostly amoung ourselves at Timmie's, doesn't seem to help much. We need a Plan B!

[chris3443]

@untubeboobable Check out "stefbot" on youtube for a plan B :)

[NORTHERNKONFLIKT]

@untubeboobable

the only other options are:

a. anarchy

b. abosolute monarchy

c. communism

d. autocracy

so ya... were going to be a democracy for ever....

[topcat113]

Harper is disappointing but try to imagine the chaos if the Libs had been elected.

[malikia101]

@topcat113 thats why we shouldn`t vote for any of them and demand smarter government not more of the same

[Greenlanegardens]

@topcat113 The conservative got the G.S.T. going after the biggest problem in Canada to-day the free trade and now the H.S.T. and you talk about the liberal .We are going in a very big depretion and we can't do anything about it our dollar already lost 40% even with the Euro great job Harper .

[wtong89]

@topcat113

conservatives are responsible for almost all of the US national debt. Cause republicans been talking about tax cuts and spending cuts but guess what, there were no spending cuts and there were tax cuts. With a depleted reveneue of taxes and increase govt spending, especially under the Bush Administration, national debt went up. Clintin raised taxes and Obama wants to raise taxes. Republicans are saying no again they want spending cuts. History has shown that this ideology dont work.

[chris3443]

The run on the treasury has begun, just like in the U.S. several years ago. Just another couple years until collapse. Watch as the government lackies grab as much as they can before the walls close in around us all.

[quuaa1]

Dennis Young next election!! Fixed election dates + elected senate too!!!!!

[korzym]

If you combine all of the provinces' debt, the federal debt, Canada's debt level is higher as a percentage than the U.S.', and their starting to freak out about their debt.

Tax payers know best how to spend their own money. If there isn't enough jobs in one part of the country you don't bailout failing industries. As a gov you do nothing, it's up to the unemployed to move somewhere where there is an abundant supply of jobs, i.e. Alberta