How the Canadian government used to borrow from its own central bank

 

@ 0% Interest!

 

Posotive Money article. taken from article by Ellen Brown

Written by Ralph (Guest Author) on June 3, 2013. Posted in Bank of England & QE, Financial Crisis, Global Situation, Poverty, Debt and Inequality

This is a brilliant article by Ellen Brown about how the Canadian government used to borrow from its own central bank at a zero rate of interest till 1974, when it was persuaded by the Basel Committee to borrow instead from private banks.

Ellen Brown Article

Canadas National Debt-imagecanada

The Graph shows what happened Canadas National Debt when their Government  started borrowing from Private Banks.

“Cutting out interest has been shown to reduce the average cost of public projects by about 40%.”

Game over: we win. Ellen Brown

Posotive Money article.

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Alex Templeton speaking at ECOBATE - UK - 2013

Councils should "bring local banks into being" so they can become "powerful partners" and promote economic, social and environmental benefits to their communities.

Published on Mar 21, 2013 Speaking at the 2nd European Conference on Banking and the Economy (ECOBATE) in Winchester, Alex Templeton, Director of the Farm Energy Project, explains how a disfunctional financial system has made it harder to lend to small businesses which in turn impacts communities.

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