‘They’re robbing us’: 12-year-old exposes Canada’s banking flaws, goes viral

reply to post by ladyteeny


Well thank you...next time I will narrow the search down... thanks again.

reply to post by Daedal


lol, it's like watching the childrens version of Zeitgeist.

She has my respect though... what kind of 12 year old takes the time to learn this stuff.

By the time she's 20 she'll be one of the smartest people concerning banking practices.

EDIT: and even if this has been posted before I'm glad you posted it again because I hadn't seen it... which is quite amazing actually, considering I've seen nearly every video posted on ATS, especially when there are numerous threads about the same video.

Originally posted by Augustine62
OK, so, her solution is to print money, a whole ton of it, one more time. Sounds like a junky solution. Just one more hit, man. Come on, let me fire up the presses. No man! I can't pay you with anything worth a lick, but I promise to print out an IOU, straight from the bank of Canada, in the name of the people of Canada.

Uhhhh, major fail there. How does continuing to do what is currently being done solve anything by just changing who is doing it?

Not only that, but in this age of globalization, Canada extends beyond this little girl's entire understanding. It's all but official that we are nothing more than pieces on a global puzzle. Canada is definitely sitting at this puzzle party, as is their debt, credit, and entire livelihood. Pity them that they have fostered a nanny-state and are being outbred by islamists and others.

Canada, entrapped in the stupid quasi-Socialist mindset, and thoroughly entrenched in cultural blandness, is not going to be sitting pretty just because circular reasoning is cute when correctly spoken from the mouth of a girl who demonstrates perfectly the exact age and mentality of those who trick us with their older appearance and fancy sounding positions, ivy league education, and total inability to form a personal thought that doesn't myopically pursue a dangerous agenda-- as well intentioned or evil as it may be.

What Canada needs is Jesus, child, sho nuff.

You do realize that it's like, literally impossible for the various global economies to sustain themselves, and they're all linked in some fatal way, right?

And the fact that this is corollary to the extreme injection of evil into the West, global politics, and the absolute reduction in morality worldwide?

And the fact that, despite the problems all of mankind faces, the West, for the most part, did have a strong sense of how not to be a total idiot with your money. There used to be a time when if you didn't have the money, and it wasn't an absolutely dire emergency, or a business start-up related cause, you didn't just prance your happy butt down to the store and buy the thing anyway at some outrageous rate. The kid ain't totally wrong, she's correct that all money is debt in the present system. But her answer to that was to make money appear from the press, as if it's worth something. It's paper. It's supposed to be an IOU to take the place of bulky coins and to circumvent the desire to hoard precious metals-- metals which, technically, according to the system, truly do belong to the people. That is a big problem with power and money seeking maniacs. So they work the system until it basically is a total joke as far as the common man is concerned. But you don't fix the issue of the people and their worth being leveraged by leveraging the people and their worth. You certainly don't stay peaceful and undisturbed by shirking your debt to foreign powers, especially heavy players. Has the kid ever seen a mob flick? Ya know the part where the head boss doesn't like being taken for a fool and does heinous things to the offending non-paying party? That generally happens on a national level when debts to foreign powers become an issue; offering one's entire country and people, with no explored possible issues with this system, nor talking with one's debtors and working out agreeable solutions prior, is ridiculous and asking for bad things. Some joke country like Iceland can get away with it, but a country like Canada? Canuck, please. Ain't gonna happen.

In 2011, Canada's debt exceeded that of the UK at almost 85% of GDP. The US was at 102% that year. For every dollar Canada is worth, they owe 85%. If Canada was to nationally liquidate, they'd be left with 15% of their entire worth. That's not enough to start a viable economy on. They'd have to borrow. Can you hear the devil laughing at the mess he's got the world in with his insane ideas and the rejection of Christ?

Junk post. Her solution was bang on, I'd prefer to lock the doors on the banks, throw them all jail and have the debt forgiven, but to each their own, her solution is better than any of the drivel you offered up.

Originally posted by jude11

Originally posted by Daedal
reply to post by Augustine62

 

That was a fast response, two minutes to be exact. So tell me, did you read that article, watch the whole video, then write your response to the thread in two minutes?

Almost like waiting for this vid to appear and having a pre-written rebuttal?

hmmmm.

Peace

I'd seen this video before and I had already written a reply, the same one I basically posted. Nothing nefarious, just happenstance.

people who can read really should take a look at the history of the Wiemar republic history, more money=more inflation=more money=more inflation, I once had a look at a 20,000,000 reichsmark bank note, black printed on white paper, and only on one side, one thick wad bought a loaf, if you were quick enough.

Originally posted by IronNuts
reply to post by Augustine62

 

So the fail really is your understanding of what the girl has said. The difference between the BoC or Bank of Canada and charted banks is the interest that is attached. When the government borrows from the chartered banks it does attached with interest. If you are given 30 dollars with 5% interest, where is the $1.50 com from to pay the interest? So the premise is that instead of always having that interest to pay that we borrow interest free from the bank of Canada. The only problem is for the first couple years our buying power internationally would drop from our inflated currency. Even though this was not so much the fact with the states when they had their bailouts the last couple years.
Your points you try to make do come across as quite arrogant. I would also like you to rethink your demeanor towards Canadians. I wonder how well our southern neighbors would do if we revoke our electricity and fresh water contract. I always laugh when people say our economy would default. As long as demand was high enough for lumber that would just about float us by itself. We have; oil, gold, diamonds, natural gas, lumber, fresh water, other precious metals, agriculture and farmland. With only a 1/10 the population of the states you can imagine we haven't raped and pillaged our resources quite the same.
[snip] ...

I perfectly understand what she is saying, what's not being understood by her supporters, the problem, is actually spoken of plainly in your post I have quoted.

You hit the nail on the head with your international financial ability would be dead in the water for at LEAST a few years, if not permanently crippled. And how do you propose to answer that? By making a nature run on resources?

I have said nothing against the people of Canada, so the rest of your post is just emotionalism and nothing really worth considering, but I'll answer it:

First and foremost, Canada, in 2011, had a national debt of 85% of its GDP. As I said, if you paid all your debt, you'd be looking at 15% of your total current worth. 15% of current worth, though you would be debt free, is not enough to jump an economy on. Factor in the complete devaluation of your currency due to such a move, and you're both internationally screwed as well as domestically. I covered all this in my original post.

Why on earth do you jump to the strawman of the USA, in how we would do if you revoked trade contracts/agreements? This has nothing to do with anything we are discussing. If I had to guess and tie in this loose end, I'd say it would just hurt Canada more than the US. However, the US is worse off than Canada, at over 100% of debt to GDP ratio, and really it's about 750%+ with all the private debt, which is often borrowed internationally.

The simple fact of the matter is the economies of nations like the US, Canada, etc. are subject to international markets and the global economy.

Merely making money to be drawn on the account of the Canadian people at little to no interest is just borrowing from yourself, who is already in debt. How do you not see the stupidity of this?

What if a nation like Canada just said "screw it" and did this little girl's plan? Well, you'd just be the first domino in the West to fall, and you will anyway. So will the US.

Merely operating in circular reasoning land does not an economy make. Canada and the US both have doled themselves into massive debt, and merely making up money that has no actual value solves nothing.

Originally posted by pikestaff
people who can read really should take a look at the history of the Wiemar republic history, more money=more inflation=more money=more inflation, I once had a look at a 20,000,000 reichsmark bank note, black printed on white paper, and only on one side, one thick wad bought a loaf, if you were quick enough.

This is pretty much what the girl is proposing. Throwing gasoline on the fire... but it will be cut with 10% water.

I have a better solution borrow from these bankers and refuse to pay them back hit them where it hurts destroy the corrupt banking system and come up with a new economic system fair for all not just the rich

Originally posted by Iamonlyhuman

Originally posted by Augustine62
OK, so, her solution is to print money, a whole ton of it, one more time. Sounds like a junky solution.

No, her solution is not to print money, it's to start borrowing from the Bank of Canada at "little to no interest" instead of the privately owned banks. Did you watch the same video as I did??

Actually she said specifically that part of her plan is to print the money. Watch the video starting at 5:35. She advocates for simply printing money to 'clear' all of the debt owed to the banks by Canadian citizens - which is utter insanity in itself. It's certainly a great way of devaluing a currency. Money is a representation of wealth - not wealth in itself. Those mortgages were supposed to be payed back with wealth earned by their borrowers (presumably from a job that creates wealth in the economy, by providing goods or services). If you just fire up the presses and essentially hand over a check for XXX amount of dollars to the borrower, then no wealth was actually created, and all those extra dollars in the economy now represent proportionally less wealth (inflation).

Sorry for sounding callous or pretentious, but taking a 12 year old girl's advice on how to fix Canada's - and much of the world's - (admittedly broken) fractional lending/financial system is a bit like asking an 8th grade science student how best to build a rocket capable of transporting a team of astronauts to Mars, just because he's 'read some books' and built a model rocket.

I will give her credit for pointing out the ridiculousness of lending at with such a low amount reserves, but ten again she ignores the moral hazard created by lenders-of-last resort.

reply to post by Augustine62


You're not contracted by the Harper government are you? It just seems you almost speak the same ill words as he, "We can not be effective at major economic matters any longer, unless we work with our other economic partners around the world, and work with them closely and intimately, that is essential. I know some people don't like it, it's a loss of national sovereignty, but it's the simple truth." Now in my own mind set I see treason there, he willing admits giving away part of our sovereignty for some extra cash.

"Canada, entrapped in the stupid quasi-Socialist mindset, and thoroughly entrenched in cultural blandness, is not going to be sitting pretty just because circular reasoning is cute when correctly spoken from the mouth of a girl who demonstrates perfectly the exact age and mentality of those who trick us with their older appearance and fancy sounding positions, ivy league education, and total inability to form a personal thought that doesn't myopically pursue a dangerous agenda-- as well intentioned or evil as it may be." You don't think that comes off as arrogant are you daft?

The part you say is self explained about our internationally buying power, who says we have to buy from outside our country? If you don't think we have enough land and materials to provide the basics necessities of life for our citizens, think again. Yes we might not have some precious metals like the ones about to be pillaged out of Kenya, but those are for new electronic devices. As far as I am concerned the electronic technology can be put on hiatus and we can delve into the necessities, health, education and purpose.
There is roughly 50 billion CAD printed currency in circulation. If we were to go and pay of all our dept we would need to bump our supply up 1500%. This means that when we sold a barrel of oil for 90 USD we could cancel out 1400 off of the 800 billion, 57,142,8571 barrels of oil later and we are back on par. Most of Canadian petroleum production, approximately 283,000 cubic meters per day (1,780,000 bbl/d), was exported, almost all of it to the United States. Canada is the largest single source of oil imports into the United States." So 57 million divided by 1.75 million/day means in roughly a month that would be paid off. Only problem is that we sold our land for the US and China to rape and pillage. Problem is it isn't the general Canadian populace that sold our land. Rightfully we the people still hold ownership of it.

reply to post by CaptainIraq


I think you are basically being prejudice of her age. I know a lot of teenagers who I would much rather entrust my life with than adults and even in certain circumstances, doctors. Just because someone is young does not mean their intellect is nil. I would bet that the one sixteen year old at Brown University that is scrutinizing over Einsteins theory of relativity and may be re writing it would agree with me on this one. Just because someone is older and has witnessed more does not mean they comprehend it.

reply to post by IronNuts


Rightfully we the people still hold ownership of it.
good start,,
u know the U.S had a piece of paper sounded like that,,
well,
u know,
BNA Act,,
Confederation,,
whats the name of the Govt. Type in U.S,,a

on tip of my toungue. eh,,
if i had a timmies,,hmm i know there is gold there somewhere.
Always a Silver lining

think of the economy as a pool and money as water. when the 1% keep emptying the pool and leaving the rest without water, the only solution is to re-fill it.

the problem is not lack of water, is that a small percentage of the population keep taking it out and not re-filling it when it gets low or empty.

this cause everyone to suffer because it is a drain on the population to be constantly re-filling a pool, when they could and should be doing something more productive.

Originally posted by IronNuts
reply to post by CaptainIraq

 

I think you are basically being prejudice of her age.

The only prejudice I have against her age is that it makes people less likely to disagree with her - children are often used as tools for these kind of movements, as people are typically more sympathetic to what they have to say.

Just because someone is young does not mean their intellect is nil. I would bet that the one sixteen year old at Brown University that is scrutinizing over Einsteins theory of relativity and may be re writing it would agree with me on this one. Just because someone is older and has witnessed more does not mean they comprehend it.

And I understand perfectly that being young does not automatically invalidate something that she says, and even Milton Friedman recognized very well that experience doesn't automatically make you correct. However, there is a big difference between your example of a child prodigy challenging a scientific theory, and a little girl reiterating the same old tired argument (put forth by many adults) that 'more government will solve the problem'.

Originally posted by Bixxi3
This post isn't about me agreeing/disagreeing about whatthegirl said
It just about me getting sick of videos of kids talking about issues they cant FULLY understand yet.
I wonder if anyone maybe coached her in anyway?
Thats all

This was part of my point, just stated a little more cohesively. Thanks.

This post isn't about me agreeing/disagreeing about whatthegirl said
It just about me getting sick of videos of kids talking about issues they cant FULLY understand yet.
I wonder if anyone maybe coached her in anyway?
Thats all

Here's my solution to stay out of debt... If you can't afford it, don't spend it. Ka peesh? lol

she does say what she wants to be when she grows up.

imagine when she grows up,,,
not like some.
ohh ya,, definetly coached, too support the hidden angenda,,
ya.

Originally posted by BobAthome
she does say what she wants to be when she grows up.

imagine when she grows up,,,
not like some.
ohh ya,, definetly coached, too support the hidden angenda,,
ya.

edit on 3-6-2012 by BobAthome because: (no reason given)

You are drunk
2nd

reply to post by IronNuts

There is roughly 50 billion CAD printed currency in circulation. If we were to go and pay of all our dept we would need to bump our supply up 1500%. This means that when we sold a barrel of oil for 90 USD we could cancel out 1400 off of the 800 billion, 57,142,8571 barrels of oil later and we are back on par. Most of Canadian petroleum production, approximately 283,000 cubic meters per day (1,780,000 bbl/d), was exported, almost all of it to the United States. Canada is the largest single source of oil imports into the United States." So 57 million divided by 1.75 million/day means in roughly a month that would be paid off.

Thankyou for this, you where able to say what I have been wanting to say but do no have the technical understanding or way with words that you display here.

I also have to agree, although it is unfortunate that I have to, the Alberta government has being giving land away to foreign investors at little cost to "keep us competitive" since at least the Klein government. Some of the biggest buy ups of the oil-sands occurred under Stelmach's leadership. And now Allison Redford just finished up her $19,000 vacation (on taxpayer money) to visit with the global elite at Bilderberg. One can only imagine what kind of lobbying and deals where cut there...

Originally posted by pikestaff
people who can read really should take a look at the history of the Wiemar republic history, more money=more inflation=more money=more inflation, I once had a look at a 20,000,000 reichsmark bank note, black printed on white paper, and only on one side, one thick wad bought a loaf, if you were quick enough.

Not sure why I typed 'reichsmark' it should be 'marks' possibly 'deutch' mark as the Swish had gold marks at the time.