During WW II, our elected members of parliament asked the governor of the Bank of Canada (like the US Federal Reserve only fully owned by the government) about the debt. In 1942 he said that the federal liability, or debt if you will, was a private sector asset. Then the finance minister mused in parliament about how to make it an asset for the people. A lot of Canadians do not get this yet but I have noted that every time we borrow to build a high school, highway, airport, hospital, university, etc. we create an asset for the future.
3
Enjoy being online again!
Welcome to the community of good people who base their values on evidence and appreciate civil discourse - the social network you will enjoy.Create your free account
3 comments
Feel free to reply to any comment by clicking the "Reply" button.not really. highways & airports have been already been privatized. let's hope that hospitals won't be but bc of the incredible debt building up & the fact that our national debt is subject to credit ratings it wouldn't surprise me.
callmedubious
Level 8
Apr 18, 2020
0
@ToolGuy ," A lot of Canadians do not get this yet but I have noted that every time we borrow to build a high school, highway, airport, hospital, university, etc. we create an asset for the future."
most of those assets end up being owned by the parasitic private sector.
2 big cases in point: the 401 & the toronto airport.
@ToolGuy , OK, you win.
Those who do realize that the only countries on Earth who are not part of central banking cartel are (or were until recently) Iraq, Iran, Cuba, Venezuela, North Korea and Libya. See a pattern?
As Rothschild was reported to say 'Give me control over a country's money supply and I care not who sits on the throne.'
Yes, we pay our Big 5 Banks to bring fiat currency into being and we are not required to by law but our government does it anyway.
Surfpirate
Level 9
Apr 17, 2020
0
Taxes are the price we pay to live in a civilized society
bookofmorons
Level 9
Apr 17, 2020
1
@ToolGuy and where would the money for armed forces, embassies, national environmental programs etc come from?
but the government also borrows lots of money from the private sector as well as the big banks and pays hefty interest on it ,Why not just borrow from bank of canada at zero interest and come up with a plan to eventually pay it down
Recent Visitors 17
Wangobango3
Mill Village,
callmedubious
Canada
EllenDale
Foothills Of,
ToolGuy
Peterborough,
indelible
OH, USA
Photos 441 More
Posted by BabyYodaCanadian dream.
Posted by bookofmoronsFeel free to share
Posted by bookofmoronsThat explains it
Posted by godfree2Carney vs PP resumes
Posted by 1patriotUPDATED: CALL TO ACTION - On March 2, 2024, Paul Fischer, a witness to Human Trafficking charges was unlawfully and criminally assaulted in his home and tasered 4 times by RCMP CST.
Posted by bookofmoronsAnyone else see a potential Trump/Putin type connection here?
Posted by bookofmoronsAnyone else see a potential Trump/Putin type connection here?
Posted by bookofmoronsJust remember - we are all sworn to secrecy but maybe we should send some to Mexico
Posted by 1patriotWhen he says our Senate is diverse and representative of Canada, he omitted this reality.
Posted by 1patriothow liberals get rich!
Posted by 1patriotso he killing the old stock europeans off in canada. I just never thought that was what he ment in this statement. My family has been here for 125 years. my wife family has been 395 years
Posted by 1patriot great job CBC you covered all the bases. Bonuses for 1200 more of you coming soon
Posted by 1patriot[thegatewaypundit.com] another brain dead fucker, he just like screwing Margret Turdeau Rolling Stones’ Mick Jagger Mercilessly Booed By Crowd After Praising Justin Trudeau (VIDEO)
Posted by 1patriotCanadians can say the same about the great turd
Posted by 1patriot[streetpolitics.
Posted by 1patriot[streetpolitics.