I want to make it quite clear to the reader that I have no ill feelings towards the people who work in a bank either as managers or clerks. They are usually the most respected people in the community. Therefore, when I use the word bankers, I mean the owners, so when I criticize the banks or bankers, I am criticizing the system and not the employees. Furthermore, the people who have given away the right to issue our money supply, namely THE FEDERAL GOVERNMENT, are far more to blame than the bankers, because they have legalized everything these people are doing. 

The love of money is the root of all evil
1 Timothy 6 : 10 

There are three reasons why people love money:
1.        Money will buy nearly every desire; 
2.        Money makes money, without work, namely interest; 
3.        Money is POWER and prestige, power over the lives of your fellow men. 

In 1968, when Pierre Trudeau came to office, our total accumulated national debt stood at $16.7 billion. 

We had fought two world wars, been through the depression of the 30s and all we owed was $16.7 billion. 

After 16 years of Pierre Trudeau and the short blip that was Joe Clark, the national debt had risen to $200 billion. 

What is especially significant about these years is not only that Trudeau left us with this huge unpaid bill, but that he racked up the debt during a time when the government had access to more tax revenue than any other government to that point. Under the Trudeau Liberals, from 1977 to 1984 alone, they piled up more than $150 billion in government debt and increased spending from $43 billion a year to $109 billion. 

It doesn’t take a Chartered Financial Analyst to figure out that moving out of controlled spending of $43 billion a year to $109 billion in seven years does not constitute getting control of things. Add to this fact that they increased borrowing from just over $10 billion a year to $38 billion and one gets an accurate picture of just how disastrous the Trudeau administration was at financial management. 

After nine years of  Brian Mulroney as Prime Minister, federal spending went from $109 billion a year to $160 billion a year, government borrowing averaged an annual $30 billion and the national debt had risen to $429 billion.

By 1992-1993 the federal government was at the point where the interest on the accumulated borrowing was controlling the federal budget and the lives of Canadians. It had become the largest single federal expenditure, eating up huge chunks of tax revenue. Annual interest was in the area of $42 billion, which was an equivalent of nearly $200 a month for every person in the country who filed an income tax. 

It took all the money collected in corporate income tax from the GST, all the money collected in sales taxes, all the money collected in excise duties, plus a few billion more, just to pay the interest. 

What do these figures mean to you? You may have your house, farm, or business paid for and have no consumer loan. But, your share of the federal, provincial and local government debt, plus the huge corporation debt (on which you pay the interest when you buy their product) came to 95,194$ on the 2,475,288,000,000$ principal.

 

At an annual rate of 10% this is $9,519 per person or $38,076 for a family of four in interest payments alone.

Our governments give SPECIAL PRIVILEGES to the ELITE!