According to Bill Abram, in 1993, Canada’s national debt stood at $423 billion. In Canada, the way government gets money is tied in with the big drug picture, over the control of people. International bankers control us through the creation of money. According to a graph put out by the Auditor General, in 1993, the power of compounding interest can be put to nefarious purposes. Abram says that when government, instead of borrowing from itself, is stealing from the Canadian people. This is how: the government prints a bond, the private banks turn the bond into printed dollars, and then the government borrows the printed dollars back. From 1867 to 1992, the government borrowed over 30 billion dollars. Yet in 1993, our national debt stood out, as said before, was $423 billion, due to the power of compounding interest. 30 billion turned into over 400 billion!
In Article 91 of our Constitution, it states categorically that the government is the only entity permitted to create money. This clause is also present in the American Constitution. In 1934, in Canada, when we were dealing with the Depression, we created the Bank of Canada. This in turn created legal tender. The Bank of Canada Act spelled out clearly that the Bank of Canada should spend money into existence in order to achieve social projects. The United States, since the creation of the Federal Reserve Act of 1913, has been under the control of the Federal Reserve. Because of the way this has been set up, the people of these countries can never get out of debt.
If politicians in Canada and the United States followed the law, there should be no such thing as national debt. When you borrow money from a private company, however, you put your assets at risk. This should never happen under these circumstances. As a result of this skullduggery, Canadian National Railways is no longer really Canadian!
Here is a quotation the video (Abram) discusses, which I thought was very interesting: “Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money.” Daniel Webster said this. People do not understand how we are being made victims. Wright Patman, in the US Congress, says he cannot understand the benefit of the US government borrowing its own money. And he adds that the Federal Reserve is an illegal entity.
In a nutshell, the constitutions of both Canada and the United States state that the respective governments are the entities that are supposed to create money. Not private institutions. The government is not supposed to borrow money from private entities like the Federal Reserve. Sometimes a nation’s heroes are men and women whose names are consigned to oblivion but should be shouted with praise from the rooftops of everyone who cares about justice, freedom and liberty. Gerald McGeer is one of these. He fought the idea that banks should borrow money from private institutions, and instead felt that government should create it themselves (which is what the Constitution dictates).