The banking system is amazing. Every time I see an explaination of it, it just blows me away how much these guys are getting away with it. The video clip below is from “Oh Canada” which explains the Canadian banking system. The part that shcoked me was that the amount of money in the banks vaults is only $4 billion yet they managed to loan out over $1.5 trillion. 

Of $37 billion borrowed by Canada from private banks between 1867 to 1992, Canada ended up paying back €423 billion. Of that, $383 billion (91%) was compound interest. The lesson here is to issue your own currency and you won’t have to pay interest. Ellen Brown writes about this on her blog WebOfDebt.

In 1998, the Canadian debt was $840 billion. By 2010, after paying $750 billion in debt payments, the debt stood at $800 billion. Canada only managed to knock $4 billion of its bill, thats how dangerous compound interest is.

 

The Bank of Canada could in fact produce money interest free. It already has the authority to do so. So, just transfer the debts owed to the private banks to the Bank of Canada and get a loan (interest free) and pay off the debt.

Full movie 1hr 36 mins, but worth the watch.

Its the same banking system scam the world over.

Once a nation parts with the control of its currency and credit, it matters not who makes the nations laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognised as its most sacred responsibility, all talk of the sovereignty of parliament and of democracy is idle and futile.

― William Lyon Mackenzie King, 10th Prime Minister of Canada

 
The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government’s greatest creative opportunity. By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest, discounts and exchanges. The financing of all public enterprises, the maintenance of stable government and ordered progress, and the conduct of the Treasury will become matters of practical administration. The people can and will be furnished with a currency as safe as their own government. Money will cease to be the master and become the servant of humanity. Democracy will rise superior to the money power.
 
– Abraham Lincoln, 16th President of the United States of America
 
Whoever controls the volume of money in our country is absolute master of all
industry and commerce…when you realize that the entire system is very easily
controlled, one way or another, by a few powerful men at the top, you will not
have to be told how periods of inflation and depression originate. – James Garfield, 20th President of the United States of America
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