Take Back Our Money, Canada!
Canada’s debt is staggering … and it’s getting worse. But we can change the status quo. We can take back the power to create our own money, stolen from us in 1974.
Here's the background:
Canada has a public bank, the Bank of Canada. In the Canadian constitution, it’s allowed to lend money at no interest to municipal, provincial, and federal governments for education, health, housing, and other social services. And it could loan money at low interest for other projects. Any interest, of course, would be paid back to the government. In other words, to taxpayers. To us.
From confederation to 1974, Canadians were able to pay for two wars, the St. Lawrence Seaway, the Trans-Canada highway, the Canadian National Railway, and much more. We created and printed our own money.
In 1974, Prime Minister Pierre Elliott Trudeau made the decision to stop using the Bank of Canada for our money, and instead borrow it from a private bank outside of Canada (the Bank for International Settlements in Switzerland) and pay interest to that private bank! Obviously that’s not in the interest of the Canadian people.
By 2012, we'd paid interest to private banks of over $1 trillion!
It's been estimated that if we'd stayed with the Bank of Canada as our public bank, we'd now have a surplus of $13 billion. That would lower taxes and bring us a higher standard of living through continued funding of all our social programs.
Now we can’t even afford to maintain infrastructure—like bridges and roads. Our health system is on life support. Social programs are getting cut. All because of these huge interest payments … to a private bank!
The COMER Group is currently before the Federal Court of Canada to force the government (by law) to do the proper thing. We need a groundswell of public opinion to help make sure they're successful. Find more information on this at comer.org.
Prime Minister Justin Trudeau simply has to instruct Parliament to follow our constitution, or call a referendum.
If you’re a Canadian, please sign my online petition to get the government of Canada to stop spending our money needlessly by paying interest to a private bank, when we could create our own money at no interest, as our constitution provides. We'll send this petition directly to Justin Trudeau and demand change.
Let’s get back control of our money and start using the Bank of Canada to create it as our constitution mandates.
Stop Using Private Banks for our Money!
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