According to Big Sleasy
"Canada used to have a public Bank, called the Bank of Canada. We used to create the money/currency at little to zero interest. But Justin's Father illegally gave our Bank of Canada to a private entity called the BIS ( Bank of International Settlements ) in 1974. Since then we have been in debt. Our standard of living has decreased. And we pay more and more taxes.
So building infrastructure is a good thing. But how we currently pay for it is a bad thing. As instead of creating the money. We borrow the money at interest and this = DEBT.
And the kicker is... the BIS doesn't actually have any money. This is Economics 101 and everybody needs to understand it. "
Is this true?
I BIS a private entity that makes a profit by charging interest on government loans ?
The Federal treasury in the USA loans money to the USA government at interest but gives all the profit back to the same government
also
the Fed is a separate branch and sets interest rates without approval from Washington, who sets interest rates in Canada ? The Finance Minister ? Or is it a separate branch of government that the Prime Minister has no control over?
"Canada used to have a public Bank, called the Bank of Canada. We used to create the money/currency at little to zero interest. But Justin's Father illegally gave our Bank of Canada to a private entity called the BIS ( Bank of International Settlements ) in 1974. Since then we have been in debt. Our standard of living has decreased. And we pay more and more taxes.
So building infrastructure is a good thing. But how we currently pay for it is a bad thing. As instead of creating the money. We borrow the money at interest and this = DEBT.
And the kicker is... the BIS doesn't actually have any money. This is Economics 101 and everybody needs to understand it. "
Is this true?
I BIS a private entity that makes a profit by charging interest on government loans ?
The Federal treasury in the USA loans money to the USA government at interest but gives all the profit back to the same government
also
the Fed is a separate branch and sets interest rates without approval from Washington, who sets interest rates in Canada ? The Finance Minister ? Or is it a separate branch of government that the Prime Minister has no control over?
