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It is important to distinguish between the right to "issue money," which is the right of the Bank of Canada, and the ability to "create credit," which, through legislation and regulation enacted by Parliament, is largely done by commercial banks through the issuance of loans. While all of Canada's money is created by the government through deficit spending, if "money" is thought of as the combination of issued money and bank-created credit, then presently, the Bank of Canada "issues" less than 5% of Canada's money, with the remainder (95%) being "created" by commercial banks through the process of fractional-reserve banking.
originally posted by: AnteBellum
a reply to: MALBOSIA
Start saving money, don't stress though keep it easy. Learn how to build, grow and farm animals. Preferably not from Facebook.
When you get the chance move to the bottom tip of South America, Chile or Argentina, makes no difference. Start a farm and raise pigs, chickens, goats and cows. Fish in ocean.
Live peacefully. I'll be your neighbor!
originally posted by: BornAgainAlien
a reply to: MALBOSIA
Central banks are not government banks, they are private banks controlled by the commercial banks (actually set up by them in the case of the FED) . They don`t need justification for what they do (officially they should, but they don`t do it). Central banks are what`s controlling countries.
You`re right about debt is everywhere because of lending + interest and by so creating debt everywhere.
If they raise the interest now the big American banks go belly up and so does the system.
Debt is used to enslave people, that`s why the system is designed the way it is. That`s why they want people to have mortgages. People who are afraid are easier to control (losing job and by so not able to pay your mortgage).
And yes they need inflation with that twisted system to keep things going. The central banks are making deliberately inflation for their own good and not for the people.
It all a bit too complicated to just tell it short, nothing more difficult as the financial system.
Here`s a good way to start for you :
Money As Debt
The only way to keep up with interest without going belly-up is to raise inflation?
originally posted by: theMediator
Here's a link that I found quite informative about banks in the UK.
I'm pretty sure it's pretty much the same deal in Canada.