How the money system could work for the people if we had a ‘Public’ Central Bank as they had in Canada up to 1974.
Canadian System up to 1974
- Government create a Bond and give it to ‘Public’ Bank of Canada.
- The ‘Public’ Bank of Canada prints/creates and deposits the money for the Bond in the Governments Bank Account.
- Government Spent into the economy.
- The Government pays the interest on the money to the ‘Public’ Bank of Canada.
- The ‘Public’ Bank of Canada gave the interest back to the Government in Dividends because the country owned The ‘Public’ Bank of Canada.
- The only cost to the government and country was an admin cost.
The Bank for International Settlements (BIS) took control of the ‘Public’ Bank of Canada in 1974.
Canada’s National debt in 1974 was $18bn, in the following 15 years it rose to nearly $500bn, owed to private banks.
Former Canadian Minister of Defence and accomplished politician Paul Hellyer. Paul breaks down very important historical events that allowed the banker mafia to take over the Canadian monetary system.
Link to Paul Hellyer Video: