obsidian Posted January 30, 2008 Report Share Posted January 30, 2008 (edited) Any country has the right to issue its own currency. However, many countries chose not to do so. Most of the money in circulation has been printed by private banks. Instead of the Canadain Mint or Treasury printing their own money the Bank of Canada does in its place. Despite the name the Bank of Canada is not owned or opperated by the government. The Bank of Canada is like any other bank: private and for profit. If our entire economic situation is dictated by a for profit bank can we really trust them to keep our interests in mind? Even worse is the fact that after 1971 the abdonement of the Bretton Woods Trade Agreement meant that money was no longer backed by bullion (gold/silver). In the past a country was limited in the ammount of money they could issue by the ammount they had, unless they chose inflation which isn't creating more money. Now money is oriented around floating exchange rates based on the world's reserve currency (USD for now..) instead of being based on actual tangible items and commodities (gold, silver, etc.). So in our current situation money is printed by the Centralized Banks and their owners then loaned to our governments. The government then has to pay interest on what is borrowed. Why do we do this? The money that is printed has no financial backing except for the paper it is printed on. Our money litteraly has no value and only gains value when we except it to. Our government can print their own money....why don't they? We the people end up paying the interest through our taxes when there is absolutely no reason to. :S :S “It is well enough that people of the nation do not understand our Banking and Monetary system, for if they did, I believe there would be a Revolution before tomorrow morning.” -Henry Ford “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.” | Woodrow Wilson 1919: regarding his signing the 1913 Federal Reserve Act (which brought in the centralized banking to America) This is the very reason why we left for the new world, to escape the power of the centralized banks. Edited January 30, 2008 by obsidian Quote Link to comment Share on other sites More sharing options...
M.Dancer Posted January 30, 2008 Report Share Posted January 30, 2008 The Bank of Canada is like any other bank: private and for profit. . Sorry. Bank of Canada is a crown corporation and has been for almost 70 years A special type of Crown corporationThe Bank was founded in 1934 as a privately owned corporation. In 1938, it became a Crown corporation belonging to the federal government. Since that time, the Minister of Finance has held the entire share capital issued by the Bank. Ultimately, the Bank is owned by the people of Canada. The Bank is not a government department and conducts its activities with considerable independence compared with most other federal institutions. For example: http://www.bankofcanada.ca/en/about/are.html Quote Link to comment Share on other sites More sharing options...
obsidian Posted January 30, 2008 Author Report Share Posted January 30, 2008 It started off as a corporation then was given special status. It is not regulated or controlled by the government. Their stated goal is the "separation of the power to spend money from the power to create money". Which pretty much is remove the governments influence 4. Is the Bank of Canada a government department? No, it is a special type of Crown corporation. The Bank has considerable autonomy to carry out its responsibilities. "This process, whereby a central bank earns revenue in exchange for its role as the issuer of a country's currency, is called seigniorage." and there you have it, for profit banking. (all quotes from the bank of canada's website) I have been trying to find out exactly what this special type of corporation is and havent been able to find any legal definition. But it is not government owned. I suggest you read every faq not just the 1st two which reaffirm your beliefs and try to multi source and not just reference the bank of canadas website. “I believe that banking institutions are more dangerous than standing armies... If the American people ever allow private banks to control the issue of currency... the banks and corporations that will grow up around them will deprive the people of their property until their children wake up homeless on the continent their fathers conquered." | Thomas Jefferson Quote Link to comment Share on other sites More sharing options...
marcinmoka Posted January 30, 2008 Report Share Posted January 30, 2008 for profit banking. Except when they incur a loss by bailing out the banks, and the wider economy in times of turmoil. But we'll ignore that. p.s. Ever heard of EDC, BDC, CCC? Quote Link to comment Share on other sites More sharing options...
Peter F Posted January 30, 2008 Report Share Posted January 30, 2008 It started off as a corporation then was given special status. It is not regulated or controlled by the government. Their stated goal is the "separation of the power to spend money from the power to create money". Which pretty much is remove the governments influence4. Is the Bank of Canada a government department? No, it is a special type of Crown corporation. The Bank has considerable autonomy to carry out its responsibilities. "This process, whereby a central bank earns revenue in exchange for its role as the issuer of a country's currency, is called seigniorage." and there you have it, for profit banking. (all quotes from the bank of canada's website) "the Minister of Finance has held the entire share capital issued by the Bank." Quote Link to comment Share on other sites More sharing options...
obsidian Posted January 30, 2008 Author Report Share Posted January 30, 2008 Ive been reading the Bank Act of Canada and in section 2 it states that the bank of Canada is to be Corporate. It is governed by a council of 12 which the minister of finance is a mandatory member of. The other members are to be selected at the Banks discretion. The capital is divided into shares that are held in the name of the minister of finance. Quote Link to comment Share on other sites More sharing options...
M.Dancer Posted January 30, 2008 Report Share Posted January 30, 2008 4. Is the Bank of Canada a government department?No, it is a special type of Crown corporation. The Bank has considerable autonomy to carry out its responsibilities. "This process, whereby a central bank earns revenue in exchange for its role as the issuer of a country's currency, is called seigniorage." and there you have it, for profit banking. (all quotes from the bank of canada's website) I assume then you acknowledge that you were in error saying the BofC was a private bank, but Seeking revenue for services is quite a bit different than profit banking. Goodwell Stores seeks revenue too.... Quote Link to comment Share on other sites More sharing options...
geoffrey Posted January 30, 2008 Report Share Posted January 30, 2008 The capital is divided into shares that are held in the name of the minister of finance. And so it's fully owned by the Goverment of Canada. Done and done. -- Not another one of these threads... stuff like this is good evidence of mandatory economics courses for all university grads. Fictional English and Philosophy is required for business majors but the looney's need not learn a thing about reality. And hence we get threads like this. Sad. Quote Link to comment Share on other sites More sharing options...
Pindar Posted February 4, 2008 Report Share Posted February 4, 2008 (edited) I only say one thing: The Money Masters, - How International Bankers Gained Control of America Video 3 h 35 min And no, they don't learn you this at school or university, because the whole of education is in the hands of the oligarchy (illuminati) They want to keep us dumb, by learning a lot of shit! Pin d"Ar Edited February 4, 2008 by Pindar Quote Link to comment Share on other sites More sharing options...
Pindar Posted February 4, 2008 Report Share Posted February 4, 2008 INTERNATIONAL BANKING:From the Mouth of an International Banker Quote by Sir Josiah Stamp Banking was conceived in iniquity and was born in sin. The bankers own the Earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money." - Sir Josiah Stamp, Director of the Bank of England (appointed 1928). Reputed to be the 2nd wealthiest man in England at that time. Pin d"Ar Quote Link to comment Share on other sites More sharing options...
bush_cheney2004 Posted February 4, 2008 Report Share Posted February 4, 2008 And no, they don't learn you this at school or university, because the whole of education isin the hands of the oligarchy (illuminati) They want to keep us dumb, by learning a lot of shit! Nonsense....learn "shit" if you please, but speak for yourself instead of insulting others' choices and experience. Your education is your business. Quote Link to comment Share on other sites More sharing options...
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