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.
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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 8
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
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