posted on May, 4 2013 @ 12:36 PM
I found this cbc mini doc to be very well put together, the articles that have followed are just as great if not better.
It seems the talk on Central Banking has picked up as of late.
I am part of a group beginning a campaign in Canada to restore the Bank of Canada's full powers in creating money for Public credit (not quantitative
easing). Paul Hellyer is involved as well as a few other respected officials & professors.
We are calling for the Government to create $150 billion to be divided amongst provinces & municipalities that are in need of maintaining social
programs, public infrastructure etc. As it stands government borrows from private banks at interest (makes no sense) when they can't meet their
needs, which forces more austerity upon communities due to the high interest rates and compound debt. The only solution is to begin creating money
with zero interest to be used by communities not handed out to bail out banks, corporations and buy risky debt.
We are also calling for mandatory Cash not capital reserve increases for private banks to slowly begin taking away the banks ability to produce money.
This will balance out the possible inflation caused by the BoC creating money for public credit.
Anywho if anyone is interested join the Facebook page for the event happening in Ottawa June 1st:
June 1st marks the first official day of the Bank of Canada's new governor, Stephen Poloz:
It also marks the Month of the 75th anniversary of the Nationalization of The Bank of Canada.