{"id":388,"date":"2014-01-22T13:00:14","date_gmt":"2014-01-22T13:00:14","guid":{"rendered":"http:\/\/republicirelandbank.com\/?p=388"},"modified":"2014-01-22T13:27:56","modified_gmt":"2014-01-22T13:27:56","slug":"how-the-canadian-government-used-to-borrow-from-its-own-central-bank","status":"publish","type":"post","link":"https:\/\/republicirelandbank.com\/?p=388","title":{"rendered":"How the Canadian government used to borrow from its own central bank"},"content":{"rendered":"

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@ 0% Interest!<\/strong><\/h1>\n

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Posotive Money article.<\/a>\u00a0taken from article by Ellen Brown<\/p>\n

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

This is a brilliant article by Ellen Brown<\/a> 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.<\/strong><\/p>\n

Ellen Brown Article<\/a><\/p>\n

\"Canadas<\/a><\/p>\n

The Graph shows what happened Canadas National Debt when\u00a0their Government \u00a0started borrowing from Private Banks.<\/p>\n

“Cutting out interest has been shown<\/a> to reduce the average cost of public projects by about 40%.”<\/strong><\/p>\n

Game over: we win.<\/strong> Ellen Brown<\/p>\n

Posotive Money article.<\/a><\/p>\n

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