BILL ABRAM part-1/3
Over the past 4 years, the Canadian people have paid $137.4 billion in interest on money borrowed from private banks whereas the Bank of Canada could legally print the public's money into existence rather than borrowing it at interest. "They've paid out this huge sum because our government has failed to abide by the law." Abram, a retired high school teacher and activist on Vancouver Island, B.C., explicates the trick of fractional reserve banking.
CANADA'S GREAT EXPERIMENT: 1935-1974 part-2/3
For nearly 40 years, Canada - the people of Canada - had control of their own currency! Imagine! They founded their own bank and issued their own currency with no debt obligations to banks. Taxes were low and debt was too. They got themselves out of the depression that had been induced by the international banking cartel in 1929. By 1934, through the driving force of one man -- Gerald Grattan McGeer, Mayor of Vancouver, B.C. -- Canada founded the Bank of Canada and they were on their way to debt-free recovery.
Problem was, the Canadians, busy building their own country, didn't think about, weren't taught about, didn't fully know about what they had -- and they lost it to the banking cartel in 1974. A Bilderberg-banker plan to take it away from them and mire them back in deep debt, forcing them to sell off and privatize everything they'd accomplished in those healthy four decades. Canada's Great Experiment was over. But all isn't lost. The structure is still there and so is the Bank of Canada. Bill Abram tells the story, also, of Nobel-prize winner Mohammad Yunus's bank, which demonstrates "poverty is not caused by poor people; poverty is caused by the system." Hocus pocus malthusianism as practiced by the Bilderbergers and their minions is exposed by Yunus and Abram.
Part 2/3
GERALD GRATTAN McGEER part-3/3
Bill Abram remembers Gerald Grattan McGeer, a crusading labor lawyer representing the Vancouver Trades & Labour Council (Canada) who got a chance to interrogate and lecture the vaunted Lord MacMillan Banking Commission, sent over from England in depression years to fix things up. McGeer, who had done his homework, got bankers Graham Towers to admit, "If Parliament wants to change the form of operating the banking system, then certainly that is within the power of Parliament. So they did. Usury-free money for nearly 20 years: a nearly debt-free era of investment in the Commons, and the people of Canada.
Part 3/3