To move forward we need to know where we are presently standing.
The Government of Canada created a public central bank owned by the people of Canada through the Government.
In 1967 the Bank of Canada was converted from a national public utility to a ‘for profit’ central bank.
In 1993 the Auditor General published a statement detailing the situation with our public debt – that being – 91% of our debt is interest.
In 1997 Stephen Harper resigned his parliamentary seat to lead The National Citizens Coalition – NCC. Stephen Harper used the NCC to mount an attacked on the government for our escalating public debt – demanding cuts to government services and privatization – all the while knowing from the Auditor General’s report that the enormous debt was not the result of government spending but rather compounding interest owed to private investors.
Harper’s political success was based on a lie.
The Government of Canada is choosing to borrow at interest rather than issuing currency directly.
We have learned of the tremendous power of international finance (a.k.a. Wall Street) through the organized run on our dollar in 1962. We therefore must determine a course of action to right the situation and move quickly.