Ignorance has been described as bliss. But when it comes to the creation of money it is slavery. Not one person in ten thousand really knows how money enters our economy. Why is so little known of something that exercises so much control over our lives? When you finally understand the truth behind money creation you’ll also understand why you have learned so little about it. If you knew the truth you would be outraged.
About this Henry Ford once said: "It is well that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
Two possibilities exist here. Either, Mr. Ford was wrong and the people do understand the banking and monetary system, or he was right and the fact that there has been no revolution proves that the people still don’t understand. I’ll go with the latter.
I write this because of our new ferry fiasco in British Columbia. We spend many millions of dollars for needed ferries then park them because they’re too expensive to run. And we pay David Hahn a million dollars a year to do this for us.
[Just as an aside here let me tell you that Mr. David Hahn’s pay comes to him in the form of a compensation package. We’ve all heard that before. CEOs are compensated for what they do. The reason they ask to be compensated is that compensation is not taxable. So David Hahn gets to waste our money and we don’t even get one dollar in tax back from him. Funny, doesn’t the word compensate mean that something had to be lost first. People are compensated because they suffered a loss, aren’t they. Our ignorance is certainly not bliss.]
Let me point out another area of our ignorance. How many of you are aware that our Provincial Governments could print and issue our own money rather than borrow it at interest from a private bank?
You don’t have to believe me but I’d suggest you start learning the facts rather than continuing to believe those who have lied to you for decades. How about a banker? Would you believe a banker if he told you the same thing I’m trying to tell you? Let’s see.
"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in iniquity and born in sin. Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with the flick of a pen, they will create enough money to buy it back again. Take this great power away from the bankers and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a better and happier world to live in. But if you want to continue the slaves of bankers and pay the cost of your own slavery, let them continue to create money and to control credit."
Sir Josiah Stamp: Director and President of the Bank of England during the 1920's and reputed to be the second richest man in England.
Start your education with the following article taken from:
http://members.shaw.ca/theultimatescam/provincialcredit.htm.
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A second option available to the provinces, failing action by the federal Government, is to set up its own mechanism to provide additional credit to British Columbians based upon the wealth of the province. The BNA Act of 1867, our Constitution, Section 92.3, the province is allowed to "borrow on the sole credit of the Province", that is to say, upon the real wealth of the province. A few short years ago, The World Bank published a report in which they estimated the worth of Canada northern territories British Columbia
What is needed in B.C. as well as the other provinces, because they face the same problem, is a Provincial Public Credit System. A mechanism whereby, the province can provide credit within the province of B.C. for its own legislatively approved expenditures, including health, education, highways, bridges, resource development and other concerns. This credit would be interest free and repaid through taxes or user fees to keep the system in balance. The key here is "interest free". Interest charges amount to a growing, significant expenditure for government, business and individuals. These interest expenditures are absolutely unnecessary!
A prime example as to how this can be utilized would be mortgages for principal residences in B.C. The province, through a system of "public" banks or credit unions, can issue "credit"(loans) to British Columbians for the purchase of a principal residence within B.C., interest free! The only necessary charge would be a nominal administration fee to monitor and process payments. (We don't need to borrow from the private banks and pay them interest!!) This single action alone would allow every British Columbian to own their own home within a few short years. No more paying for a home 3,4 or 5 times over because of burdensome interest charges levied by private banks. This single act alone would also free up hundred's of millions of dollars for consumers to spend on other goods and services, creating thousands of new jobs and giving the economy an enormous boost. Another example would be resource development. The province, through a Provincial Credit System can advance credit to companies to develop our natural resources. For example, if we needed to increase our natural gas production, the province can provide the credit needed for the private sector to construct the facility. By charging a nominal rate for the use of the Provincial Credit plus a royalty percentage based on production, the province would earn revenues to repay the credit advance and support some of the other needs of the province. In Alaska
In 1939, the Provincial Government of Alberta under William Aberhart passed a law, which was to provide exactly this. The Alberta Credit House Act was passed with the intention of providing additional credit to Albertans. This is where the network of "Treasury Branches" originated. It was the intention of the Alberta Government to provide interest free credit to Albertans and get away from the debt money system operated by the private banks. Unfortunately, World War ll brought about a suspension of this Provincial Credit System and in 1943, William Aberhart died in a car accident. The Act is still on the books but it has never been implemented.
This system would operate similar to the pictorial example of the Public Credit Money Sink. The only difference would be that the province would create credit and issue it within the province to meet our provinces needs and extinguish the advances (loans) as payments came in. The Provincial Credit Office would extend credit for authorized provincial public and private expenditures. Payments would come back in the form of a regular payment schedule (in the case of credit advances to the private sector for development of provincial natural resources) or through taxes and fees for public services to keep the system in balance.
To summarize, governments at all levels, private industry and the public at large are all under financial pressure. We see, on a daily basis, government cutbacks, budget shortfalls, reduction in services, pressure to either raise taxes or find other means to raise revenue and an increasing public debt which cannot ever be paid back under the present debt money system. Businesses either moving out of province or going under, leaving thousands of our citizens unemployed, unions striking for higher wages and benefits, injured workers fighting for support payments which are harder to come by or are reduced. More and more, wives are forced to work to provide a second income in order for families to survive, husbands are taking on second jobs, part time work or working overtime and weekends just to make ends meet. And on top of all this, personal debt has climbed to an all time high and shows no sign of stopping.
The problems are daunting but not impossible to overcome. But the promises and the remedies offered by past and present governments and politicians will not solve the problems. Provincially, we have the power to make the necessary changes. All that is required is the will to do what must be done. We need to establish our own mechanism for providing credit within the Province. A growing and expanding economy requires a growing and expanding supply of money to meet the needs of society. Under our present system, the banks supply the "money" to meet demand but extract more back in the form of principal and interest payments. This causes the constant shortfall of the money supply in the economy and results in problems such as those referred to above. Under a Provincial Credit System, the supply of "credit" will always be adequate enough to meet the needs of the people and provide for a prosperous future for all of us.
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It’s your choice folks. You can use your own money at no cost or continue to use a private banker’s money that guarantees debt. I would think the choice would be easy.
Check out our present system here:
And what could be our federal system here: http://members.shaw.ca/theultimatescam/pcms.htm.
Comments to the author are welcomed. david.ealing@gmail.com.
