THE CRIME OF THE CANADIAN BANKING SYSTEM: Bill Abram (part 1

Over the past 4 years, the Canadian people have paid $137.4 billion in interest on money borrowed from private banks whereas the Bank of Canada could legally print the public's money into existence rather than borrowing it at interest. "They've paid out this huge sum because our government has failed to abide by the law." Abram, a retired high school teacher and activist on Vancouver Island, B.C., explicates the trick of fractional reserve banking (part 1 of a series; snowshoefilms yoryevrah

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• Bill
• Abram
• fractional
• reserve
• banking
• bank
• canada
• Vancouver
• money
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• snowshoefilms
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[MarshallAMarshall]

Man your awesome! You are an obviously well learned man who has worked his whole life lie so many of us. TY for pointing out the facts our Government is complicit with these banks and it's all criminal enterprise. Hence the defacto governments (illegitimate). We are going to have to act on our own to bring them to justice for these crimes because our courts refuse to acknowledge their crimes even in the face of the Laws being broken in plain view so the courts are defacto and must be taken back

[MrLion616]

OCCUPY CANADA!

[Bored197272]

@xxtwr1 You have no idea what you are talking about. when did loans not recieve or deserve a premium? when did money evolve? For what reason was paper money created?

I think you should read a little on the history of a free market and what it actually involves.

Money was never loaned for a premium? Really?

[xxtwr1]

@Bored197272 you make no sense. You pay interest on your 9 dollars. By the time you pay it back, the bank has made three or four times the principle. And for what, lending you the peoples money? They didn't work for it. Abrams is right. The way it used to work is that money was printed to be spent on capital projects, social programs, and in borrowing to business's. That money then made it's way through the people, through wages, and into the banks via savings accounts to pay off loans.

[UpcastSpongebob]

yes,yesyes

[tysonfuckinmeyer]

@MrLion616 come try sweetheart. :)

[napalmcoffee]

Capitalism with a strong constitution base on human rights wotks fine , add bankers to the equation they detroy the system and guid it to their own designs

[Bored197272]

Money supply is created by the Bank of Canada, in Canada.

Loaned money, or check money as you put it is not created money. It has not increased the money supply. Not one cent.

The creation is a balance sheet item only. The other half of the entry is simply the debt.

i.e. the money created, by loaning out (with a reserve), is not 'New' money. It is a debt owed to the bank that was loaned from.

[Bored197272]

@peaceviddie Inflate? Not really. The reserve amount is set for Canadian banks.. Ill let you look that up. The other is loaned out, to .. people like you and me, so we can buy our houses. The way it is inflated, is simply that if the bank has $10, reserves $1, loans me $9 to buy a house, my money is then returned to a bank. Thereby, $9 is now back into the banking system. That money is then loaned out again, with reserve of 10%, $0.90 and $8.1 is loaned to someone else. And so on.

[Dehzee]

@Dehzee oops, should read 37 billion, not 7 billion.

[Dehzee]

@denverdog44 Hey, haven't seen you round the hood lately, have you headed for the hills yet? lol! Have you seen Makana's 'We are the many' yet? Awesomeness!