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How private bankers destroy a nation’s economy
How privately
controlled banks
destroy a nation's
economy
http://www.croftonwhistleblower.com/how-privately-controlled-banks-destroy-a-nations-economy.html
See the video for graphs and explanations:
In 1934, or thereabouts, The 'non-private', Bank of Canada was created as a Government-owned bank. It was created to build our war machine, our railways, our St. Lawrence seaway, the Trans Canada highway, our schools, our hospitals, and later on, our universal healthcare plan, our pensions, and our social security system….debt free. The Government wisely spent this Bank of Canada-issued money, without having to pay any 'interest' charges. From 1940 to 1974, Canada's Government had a minimal national debt of under 18 billion dollars.
Since 1974, private bankers (Chartered Banks) have taken over the issuance of loans to the Government….and due to 'compounding interest' charges, today Canadian taxpayers pay out 61 billion 'extra' dollars per year as interest to these 'privately-controlled' Chartered banks.
The national debt in Canada has grown in the last 35 years to 1 trillion dollars. Our wealth is disappearing to private lenders. For example: from 1981 to 1995, the Government collected 619 billion dollars in income tax. But because our debt was owed to 'private' banks, instead of the Government-owned Bank of Canada, the Government paid out 428 billion dollars in 'interest charges' to the 'private' banking institutions in that 14 year period!
This explains where our income tax dollars are going. In America, it was stated by President Ronald Reagan that 100 % of income tax collected went to pay the 'compounding interest charges' to the privately-controlled Federal Reserve. http://circleof13.blogspot.ca/2008/04/1984-grace-commission-report-under.html
And once people understand this, then we see that if the Bank of Canada were pushed to control the issuance of Government loans once again, there would soon be no need for over-taxation. The 'compounding interest' charges would be eliminated from our Government's future borrowing. The trillion dollar debt would soon be paid off. Government borrowing would now be 'interest free'.
Funding for higher education, 'preventive' healthcare, infrastructure development, and mega-projects to encourage green energy technologies, would all be funded without 'compounding interest charges'. The Canadian Government, and the populace, would re-circulate that wealth, as they did from 1940 to 1974, without increasing the national debt.
Other points to consider:
1) Canada's 75 Billion Dollar Bank Bailout
The $64 Billion Federal Budget Deficit is intended to Finance Canada's Chartered Banks. 'Chartered Banks' are privately-controlled, for profit, lending institutions.
http://www.globalresearch.ca/index.php?context=va&aid=12007
In a bitter irony, the banks lend money to the federal government to finance the bailout, and with the money raised through the sale of government bonds and T-Bills, the government finances, via the CHMC, the bank bailout. In other words, those 75 billion dollar federal government loans via CHMC, go right back into the Chartered Banks. Not only that, those Chartered 'private' banks will collect 'compounding interest' charges on the 75 Billion dollar loans to the federal government.
2) Fractional Reserve Banking consists of loaning out 'fictional' reserves
http://www.blissful-wisdom.com/fractional-reserve-banking-fraud.html
In a nutshell, 'Fractional Reserve' banking fraud is where banking financiers only have 'fractional' as opposed to 'complete' reserves to cover their loans. Private banks loan out more money than they have. Banks often loan nine to eleven times more money than they hold in reserve. So in reality, one could say it is a 'Fictional Reserve' banking scam. Their loans are nothing more than 'computer entries'.
http://www.articledashboard.com/Article/The-Fractional-Reserve-Banking-Fraud/652854
Let us not forget that these privately-controlled banking institutions charge 'compounding interest' on all their loans (which are nothing more than computer entries). Even the 'nationalized and non-privately controlled' Bank of Canada successfully funded the federal government of Canada mega-projects from1939-1974, without the need to charge 'compounding interest'….and without putting the nation into 'debt-servitude'.
Congressmen Ron Paul and Dennis Kucinich come clean
- Rid America of the privately controlled Federal Reserve
Video presentation:
http://www.examiner.com/nonpartisan-in-national/america-s-controlled-economic-implosion-video-8
It is a privately-owned institution, for profit by member bankers. It is not likely there are any gold 'reserves' in the Federal Reserve.
http://www.youtube.com/watch?v=PKmqAX0Fqw0
