Canada’s total national debt including all three levels of government is over 1.2 Trillion . Most of it is built up compound interest owed to private financial institutions .
The compound interest owed every year is approximately $60 Billion
That equates to a family of 4 paying approx $640 per month
The principal is seldom paid down so the 60 billion interest contiues to grow due to compounding
“Any government of any nation not in control of its currency is not in control.”
Pre 1934 the banking system in Canada and the U S A was under control of private bankers .
Private Bankers eventually admitted they had created a financial bubble and were responsible for the great depression of 1929.
Government realized we needed to take control back from the private bankers and the Bank of Canada was created in 1934 . The Government of Canada purchased all shares in the Bank of Canada, and began operations in 1938.
The Bank of Canada successfully controlled our monetary system and the debt that never exceeded 18 billion
It was used very successfully in partnership with private investors to fund infrastructure such as St Lawrence seaway , railway expansion , and social programs such as health care and education, for the benefit of all Canadians.
Then in 1974 Prime Minister Pierre E Trudeau who once was a Bilderberg member was persuaded to join the G 7 and handed over control of our monetary system to the private bankers once again .
Today another financial bubble is upon us and we are facing a financial crisis brought about by the out of control private financial institutions.
CAP feels it imperative that we Reinstate the Bank of Canada so that it is in full control of the monetary system maintaining our sovereignty and protecting Canadians from abuse, endemic to a private system that is all about profit and never was in the best interest of all Canadians .
The Bank of Canada must be in control to ensure the survival of Canada as an independent and sovereign nation .
Functions of Bank of Canada under CAP
1) The Prime source of low cost funding to all levels of government
2) Balancing of the monetary system with GDP growth
3) Keeping debt levels manageable
4) Keep inflation in check