Banking System in G8 countries; National Debt to private banks
-
Peace all,
I believe this is the same for all G8 countries. It is certainly true for the U.S. and Canada. I am certain if people knew about it, it would cause outrage. (at least I hope so)
The following link is for Canada
http//canadianactionparty.ca/cgi/page.cgi?zine=show&aid=188&_id=27It is actually a tutorial on the present monetary system, the above link is just one page of the tutorial.
In Canada, just like in the U.S., where the government borrows money from the Federal Reserve (which is no more "Federal" than "Federal Express", i.e. it is a privately owned bank), the Canadian government, instead of borrowing money from the Bank of Canada (which is truly federally-owned, i.e. Canadian tax-payer owned) CHOOSES TO INSTEAD BORROW MONEY FROM PRIVATE BANKS AT SUBSTANTIAL INTEREST RATES!!!!!!!!!!!!!!!!
Canadian (and presumably all G8 countries' citizens are losing billions of dollars a year that could go to healthcare, education, environment, etc..., yet the government chooses to pay our taxpayer money to private banks.
This doesn't have to be the case. In Canada, it is EASILY reversible since the system is already in place for the government of Canada to instead create money interest free through the Bank of Canada.
This is true, I believe for other G8 countries as well. I would be interested to hear from other G8 country FM members about how their governments deal with loans.
Please take a little bit of time to investigate how it works in your own home countries, and if possible, write up what you learn in this thread.
thanks,
peace