The Problem

Money is printed by the Bank of Canada and loaned to the government.

There is compounding interest on this debt.

Canadian Banks operate on a similar system to fractional reserve banking.

The Solution

Return the control of printing money back to the federal government.

Remove compounding interest from the banking system.

Require 100% capital (money) reserves for bank loans.

Below are resources to help explain why this is the most important issue in our struggling economy. For money, (debt) has become the core foundation of our society.

For more details you can watch this short documentary on the Canadian Banking system.

https://www.youtube.com/watch?v=JuP2hH0Kpro

 

A summary of Fractional Reserve banking.

https://www.youtube.com/watch?v=t5ayg3hbhoM

 

Canadian Banking Capital Requirements

http://www.osfi-bsif.gc.ca/eng/fi-if/rg-ro/gdn-ort/gl-ld/Pages/CAR_chpt1.aspx

 

The Bank of Canada is separate from the Political process. Here is what they themselves have to say on the matter.

Separate from the political process

The Bank of Canada is a special type of Crown corporation, owned by the federal government, but with considerable independence to carry out its responsibilities. For example:

The Governor and Senior Deputy Governor are appointed by the Bank's Board of Directors (with the approval of Cabinet), not by the federal government.
The Deputy Minister of Finance sits on the Board of Directors but has no vote.
The Bank submits its expenditures to its Board of Directors. Federal government departments submit theirs to the Treasury Board.
Bank employees are regulated by the Bank itself, not by federal public service agencies.
The Bank's books are audited by external auditors appointed by Cabinet on the recommendation of the Minister of Finance, not by the Auditor General of Canada.

Having an independent monetary institution allows for the separation of the power to spend money from the power to create money. Separating the central bank from the political process enables it to adopt the medium- and long-term perspectives essential to conducting effective monetary policy.

http://www.bankofcanada.ca/about/#who-runs-the-bank

 

Source for cover photo.

http://qualicuminstitute.ca/federal-debt/

 

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