Monday, 27 July 2020

Outsourcing of BC jobs need to stop

Outsourcing of BC jobs need to stop

The mere mention of the word is enough to send shivers down the spines of millions of Canadians, fearful of losing their jobs to workers in China, India, or some other country where labor is cheap.

While economists, business leaders, and others debate whether outsourcing poses a serious threat to the BC. workforce, and what -- if anything -- can be done about it, governments now and previous have done nothing to protect jobs.

They say they will but they have not been forced to, our party gives a veto vote on legislation that hurts the economy, and takes the food of your child’s table.

Sovereigns it is your right to control the government, empty promises, need to go

In truth, the country is awash with outsourcers -- ready, willing and able to send BC jobs overseas. But the culprits aren't the people, it’s the lobby groups, special interest groups, this needs to be changed and addressed. Then stopped

The real outsourcers have devastated once-flourishing industries and the communities in which they were located. Their deeds have consigned hundreds of thousands of Canadian, and BC residents unemployed.

Meanwhile, the jobs these people once had have been given to foreign workers because our governments are not controlled by the people, they do as they please. The question is why?

Though much attention has focused on outsourcing in manufacturing and information technology (IT), by far the biggest damage has been wrought in the timber and mineral-extraction industries.

These industries provide some of the most essential products of modern life. Paper, furniture, and much-coveted hardwood floors are just the most visible fruits of the timber industry. Similarly, the precious metals taken from mines find their way into cars, bridges, computers, cell phones, cooking utensils, and dozens of other creations of human ingenuity.

In the last decade alone, mills, pulp and paper plants, and other forest products facilities have closed throughout BC, because you don't count.

Meanwhile, thousands of jobs the timber industry once provided to communities throughout the BC have been outsourced to other countries.

Outsourcing jobs, who wins not us, and not even the slave labour of the citizens that have no rights.

These are real job losses, courtesy of the Illegal Unlawful Regime masquerading  as a de-facto governments that do not represent the Sovereigns  but special interest groups.


Time for change, Time to control the illegal Unlawful Globalist Regime.

Unify The People will en-power the people

Only you can allow this to continue if you keep voting for controlled Opposition Political nightmare , that look after their criminal friends only.


Dallas Hills


This is a PERFECT explanation of the so-called "stimulus bill."

This is a PERFECT explanation of the so-called "stimulus bill."

This is a PERFECT explanation of the so-called "stimulus bill."

Stimulus Bill Explanation

Shortly after class, an economics student approaches his economics professor and says, "I don't understand this stimulus bill.

Can you explain it to me?"

The professor replied, "I don't have any time to explain it at my office, but if you come over to my house on Saturday and help me with my weekend project, I'll be glad to explain it to you."

The student agreed.

At the agreed-upon time, the student showed up at the professor's house. The professor stated that the weekend project involved his backyard pool.

They both went out back to the pool, and the professor handed the student a bucket. Demonstrating with his own bucket, the professor said, "First, go over to the deep end, and fill your bucket with as much water as you can."

The student did as he was instructed.

The professor then continued, "Follow me over to the shallow end, and then dump all the water from your bucket into it."

The student was naturally confused, but did as he was told.

The professor then explained they were going to do this many more times, and began walking back to the deep end of the pool.

The confused student asked, "Excuse me, but why are we doing this?

The professor matter-of-factly stated that he was trying to make the shallow end much deeper.

The student didn’t think the economics professor was serious, but figured that he would find out the real story soon enough.

However, after the 6th trip between the shallow end and the deep end, the student began to become worried that his economics professor had gone mad.

The student finally replied, "All we're doing is wasting valuable time and effort on unproductive pursuits. Even worse, when this process is all over, everything will be at the same level it was before, so all you'll really have accomplished is the destruction of what could have been truly productive action!"


The professor put down his bucket and replied with a smile, "Congratulations. You now understand the stimulus bill."

YES, I'M A BAD CANADIAN

YES, I'M A BAD CANADIAN


I Am the Liberal-Progressives Worst Nightmare.
I am a Canadian.

I believe the money I make belongs to me and my family,
not some Liberal governmental functionary be it
NDP, Liberal or Conservative!

I'm in touch with my feelings and I like it that way!

I think owning a gun doesn't make you a killer,
it makes you a smart Canadian.

I think being a minority does not make you noble or victimized,
and does not entitle you to anything.

I believe that if you are selling me a Big Mac, do it in English.

I believe everyone has a right to pray to his or her God
when and where they want to.

My heroes are John Wayne, Babe Ruth, Roy Rogers,
and whoever canceled Jerry Springer.

I know wrestling is fake and I don't waste my time
watching or arguing about it.

I've never owned a slave, or was a slave,
I haven't burned any witches or been persecuted by the Turks
and neither have you! So, shut up already.

I believe if you don't like the way things are here,
go back to where you came from and change your own country!
This is CANADA.

I believe 'illegal' is illegal no matter what the lawyers think.

I believe the Canadian flag should be the only one allowed in CANADA!

If this makes me a BAD Canadian,
then yes, I'm a BAD Canadian.

If you are a BAD Canadian too,
please forward this to everyone you know.

We want our country back!

'WHO k i l l e d CANADA?

'WHO k i l l e d CANADA?

http://video.google.ca/videoplay?docid=8632069635967998175


"The Truth About Canada".

Hello, like many people I was also shocked when I watched the video “Who killed Canada”.

Many years I have researched and have been writing and educating as many people as I can.

Most Canadians’ think we are ranked on top of the list for many of the Human Development Countries. After reviewing this information, I realize we are in serious trouble.

Canada needs to change its policies drastically to save our nation.

It is not infrequent to hear someone complain, "They won't let you make an honest living any more."

This is a quote from Thomas Jefferson from the United States.

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

Thomas Jefferson, 1802
[Letter to the Secretary of the Treasury Albert Gallatin]

Many Canadian’s are aware that the problems they now face were caused by TRADE DEALS with no protection to the majority of Canadians.

Trade deals such as NAFTA, TILMA, SPP, and politicians who are controlled by Elite corporations.

The so called governments have allowed Corporations to steal hundreds of billions at the expense of Canadian families.

On average Canadians lifetime of work and savings are dwindling to poverty.

If it was done with a gun there would be a war, but it’s done with the Banking system that control are every day.

Freedom is worth defending but some freedom or lack of government control takes other people’s freedom away.

There isn’t freedom in this one sided market. If there was there wouldn’t be a collapse as we are seeing across Canada.

We wouldn’t be paying this price for our fuel if we owned our resources; if we did not have so many traitors in our country.

Prices are controlled not by the market but by a handful of greedy people who profit from their control. There is no free market where the consumer can shop and compare prices in a competitive market.

Oil is priced not by the consumer supply and demand but by a handful of people in who profit from its rising price. The system we have is not free market, it is tyranny.
The government has allowed Foreign Elite Corporations free reign to Canada at the expense of the Canadian people, effectively turning the entire country into a slave labor camp.

Housing and oil isn’t the only areas where the balance of power has been allowed to shift far in favor of Elite corporation companies. BC Hydro, water, and nearly everything we have is owned by them, and all the profits leave our country.

Powerful groups control medical services which can transfer the wealth of an entire family into its hands simple by having one medical need in your lifetime.
How many families have been left with nothing? How free is that?

The system is flawed and no Canadian is immune of being robbed of their saving and financial future as long as the system continues to give certain people more freedom at the expense of others.

The people with the authority to intervene didn’t even when they knew what the outcome would be, totally dismantle Canada into poverty.

That is treason and crime against the people. The repercussions of the collapse of the housing market have effectively stolen billions of dollars from the economy, which are now in the hands of the greedy.

If the government bails these institutions out, then it will be using your money to further rob you of everything you have worked for.

This crisis could have been avoided. But that would have taken someone to stand tall and strong against the corruption. Apparently there was no one. People knew what was going on and did nothing.

That is a crime against you and me. The corruption has weakened Canada and could destroy it if it doesn’t get leaders that will end this corruption who are destroying our freedom and stealing our wealth.


I could continue to expand on this list, but the video will explain it.



My point is we are loosing Canada, and slowly fading away.



http://video.google.ca/videoplay?docid=8632069635967998175

Grounds for provincial refusal of federal disallowance Any attempt by Ottawa to disallow legislation passed by a them would be rejected on several grounds

Grounds for provincial refusal of federal disallowance Any attempt by Ottawa to disallow legislation passed by a them would be rejected on several grounds.

A) Canada’s central government has never received authori...ty from the people to govern. It is not a
lawfully constituted government.

B) No confederation document approved by the people of BC exists. No
provincial powers have been transferred to a central government with the
approval of the BC people. No lawful confederation exists.

C) An unlawful central government has no power to create a lawful Supreme
Court of Canada.

D) Statutes passed by the unlawful central government and rulings of the Supreme Court of Canada can not have the
force of law.

E) The Canadian Constitution Act, 1982 is a statute passed by politicians. It is not a constitution approved by the people.

Canada has no constitution approved by the people. Constitutions create
governments. Governments do not create constitutions.

F) Disregarding the unconstitutionality of the central government and its
Supreme Court, the current Canadian Charter of Rights, Sec 33, allows a
province to opt out of certain legislation of the central government.

G) Sec 33 is known as the “Notwithstanding Clause”, and sets the precedent that under certain conditions “the wall of constitutionality can be pierced” [quote from the central government website].

2) Discussion of Sec 33, the Notwithstanding Clause

The principles of domestic and international law support the expansion by BC of Sec 33 to include more than its present application to language in Canada.

Some lawful reasons for expanding the use of Sec 33 follow.

A) As mentioned in 1 (H) above, the central government website about 5 years ago contained the admission that "the wall of constitutional
entrenchment may properly be pierced by a provincial Legislature
possessing demonstrable popular support”. Politicians may try to
restrict the use of Sec 33 to the issue of language, but the people of
BC have the political power to expand its application to all central
government laws [popular support].

B) In 1981 Trudeau's Federal Justice Minister, Jean Chretien, defended

Sec 33 would serve as a safety valve. It would ensure "that legislatures rather than judges would have the final say on important matters of public policy."

He said it would allow elected governments "to correct absurd situations without going through the difficulty of obtaining constitutional amendments."

He also said that provinces should be able "to opt out of the Canadian constitution in order to “protect important societal values and goals”
He also said that "the overriding of the Canadian constitution by a province is acceptable if there is widespread popular support for such a move."

C)  The reasons for this expansion of the Sec 33 override precedent are
simple and not arguable. The people of BC have never voted approval of
the Constitution Act 1982. British Columbians have never consented to be
ruled by this statute that politicians are using as a constitution.

They have never entered a contract to accept the form of government set up by this statute.

They have never even granted the people's authority for politicians to pass statutes with the force of law.

D) Contracts are at the heart of all our affairs. Canadians have been
persuaded that they have contracted with the Canadian central government to obey laws passed by the government.

But no contract exists. Key elements of a contract are an offer and an acceptance.

The Constitution Act 1982 is an offer by the Canadian central government to provide "peace order and good government", etc. But there is no document proving the acceptance of this offer by the Canadian people. Therefore no lawful contract exists. The Canadian people are not liable to
perform.

3) Summary

Similar to the United States of America, Canada’s constitution has never been approved by the people [at least in the USA the nation’s constitution was approved by the representatives of the States].

The result is a constitutional vacuum and one of Canada’s provinces must take the lead to put all governments in the country on a proper constitutional footing.

Starting in 1974 the same Liberal government which nationalized our Bank of Canada (in 1938), slowly stopped using it...

Starting in 1974 the same Liberal government which nationalized our Bank of Canada (in 1938), slowly stopped using it...

THE REAL SOURCE OF POWER IS THE POWER TO CREATE MONEY!!!!

The issuance of currency is a government's most sacred responsibility. Why would the Government of Canada allow private banks, who have no accountability to The People, the power to issue currency to the Government itself, at interest?

This is the greatest fraud within organized society; and potentially one of the most damaging. If we do not change this system of money generation, we will be doomed to an ever increasing debt. This massive debt to private banks owed by The People can only result in the loss of our power as the public tax payers to control anything, including public policy.

"When a government is dependent upon
bankers for money, they and not the
leaders of the government control the
situation, since the hand that gives
is above the hand that takes. Money
has no motherland; financiers are
without patriotism and without decency;
their sole object is gain."
-- Napoleon Bonaparte

THE PRIVIZATION OF OUR MONEY SUPPLY - THE ONE THAT LED TO ALL THE OTHERS! THE CAUSE OF THE SCOURGE KNOWN AS GLOBALIZATION. PLEASE FORWARD WIDELY...EVERYONE NEEDS TO KNOW THIS INFORMATION. ITS A MATTER OF LIFE AND DEATH - WORLDWIDE!


Bank of Canada theme song by Sydney White

Sing to the tune of O Canada

Bank of Canada
The one that saved this land
With the Bank of Canada
We had social programmes

Without usury
We will lead the way
The true north strong and free
There'll be no poor
And what is more
We'll save our sovereignty!

Bank of Canada
We'll stand on guard for thee
Bank of Canada
We'll set your charter free
Bank of Canada
Our country's liberty!

§ --------- A Sad Truth ---------

Starting in 1974 the same Liberal government which nationalized our Bank of Canada (in 1938), slowly stopped using it... Now Canada's national bank is responsible for only 2% of the money in circulation Today. Since 1974 Canada has borrowed from the same banks as you and me, and a debt of just $18 billion in 1974 (accumulated, since confederation) has ballooned a debt of over $500 billion; 95% of which is compound interest.

Let us state that again, 95% of our $500 billion debt is compound interest which we would not have had to pay if the Canadian Government had borrowed the money from our national bank. This massive debt was inflicted on us by politicians too stupid, lazy or corrupt (pick whichever one you think is true) to use The Bank of Canada's ability to loan Canada money interest free.

On this debt we the tax payers are on the hook for an average of $34 billion per year (that's $93,150,685 PER DAY, 365 DAYS A YEAR) through various levels of taxation. This is money that is paid to private banks and investors and is the reason that infrastructure, social programs, education, healthcare, arts and culture funding and more have suffered through the years while our taxes kept going up.


This amount does not include provincial and municipal payments on debt interest which brings the figure closer to $60 billion per year. That's $164,383,562 PER DAY, EVERY DAY OF THE YEAR coming out of our economy going directly to private international bankers, rather than simply paying off the borrowed money, back to the Canadian population.

"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


§ --------- What Changed? ---------

The self-serving members of our own governments took Canada down a bad road by embracing the principles of globalization... It's not surprising that Canada became a member of the then G7 in the same year. There are no coincidences in politics...

It was nothing less than treason perpetrated upon the Canadian People without their knowledge. It was this first treason that has led to all the others that have followed. The FTA, NAFTA and now the SPP which is leading us into a North American Union which will be the death of our Nationalized Central Bank. The common currency called the Amero we hear about will most certainly be controlled by the privately owned United States Federal Reserve Corporation.


§ --------- Must-watch Videos ---------

Part 1 The Crime of the Canadian Banking System
http://ca.youtube.com/watch?v=O8Zl1Wax8MI&feature=related

Part 2 The Great Canadian Experiment
http://ca.youtube.com/watch?v=9yYEFuN2v08&feature=related

Part 3 Gerald G. McGeer: A True Canadian Hero
http://ca.youtube.com/watch?v=zB7GbM1OgzA&feature=related

Banking and the Canadian Government
http://ca.youtube.com/watch?v=WPSoQfumzQ0

Money as Debt
http://video.google.com/videoplay?docid=-9050474362583451279
An Introduction to the subject "What is Money?" It doesn't talk about the Bank of Canada directly, but explains in simple terms the concept of money creation and banking in the modern world.

WHAT HAPPENED TO THE USA?

The Money Masters
http://video.google.com/videoplay?docid=-515319560256183936

"This is a staggering thought. We
are completely dependent on the
commercial Banks. Someone has to
borrow every dollar we have in
circulation, cash or credit. If
the Banks create ample synthetic
money we are prosperous; if not,
we starve. We are absolutely
without a permanent money system.
When one gets a complete grasp of
the picture, the tragic absurdity
of our hopeless position is
almost incredible, but there it is.

It is the most important subject
intelligent persons can investigate
and reflect upon. It is so
important that our present
civilization may collapse unless
it becomes widely understood and
the defects remedied very soon."
-- Robert Hemphill


§ ----- Where your federal tax dollar goes -----

This is the best argument yet for the proper use of our publicly owned Bank of Canada. Right out of the government's own mouth...

2006-2007
http://www.fin.gc.ca/taxdollar07/mm/taxdollars0607_e.html

2005-2006
http://www.fin.gc.ca/taxdollar06/mm/taxdollars0506_e.html

2004-2005
http://www.fin.gc.ca/TaxDollar/mm/taxdollars0405_e.html

Did you know that the last of The People's shares in Petro Canada, the company that Canadian Taxpayers paid for, have been sold now been sold off? The money was used to "pay down the debt".


"Once a nation parts with the control
of its currency and credit, it
matters not who makes the nations
laws. Usury, once in control,
will wreck any nation. Until the
control of the issue of currency and
credit is restored to government and
recognized as its most sacred
responsibility, all talk of the
sovereignty of parliament and of
democracy is idle and futile."
-- Prime Minister William Lyon Mackenzie King, who nationalized the Bank of Canada in 1938

"Give me control of a nation's money
and I care not who makes her laws."
-- Mayer Amschel Rothschild (A major international banker)

"The most powerful force in
the universe is compound interest"
-- Albert Einstein

"If a nation can issue a dollar
bond, it can issue a dollar bill.
The element that makes the bond
good makes the bill good also.
It is absurd to say that our
country can issue $30 million
in bonds but not $30 million in
currency. Both are promises to
pay, but one promise fattens the
usurers, and the other helps
the people."
-- Thomas Edison (On his government borrowing from private banks).


§ --------- The Hope ---------

Before going forward it is important to understand the difference between the U.S. Federal Reserve and our Bank of Canada.

The Federal Reserve, is a private corporation disguised to look like government. It prints the money and lends it to the government at interest. Our Bank of Canada is a nationalized (publicly owned) bank. It has the capacity to lend money to our governments to be used for infrastructure and social programs at near zero interest. The interest amounts to the administration costs for running the Bank. Any interest paid by government to the Bank of Canada would be returned to the coffers of the Government (that's you and me).

Our governments did borrow from the Bank of Canada from 1938 to the mid-70's and that's how we brought ourselves out of the depression, paid for WWII, built roads, bridges, seaways, airports, funded Canada Pension and universal healthcare. But everything changed when Canada became a member of the G7, embraced globalization and we adopted the "free-floating market" monetary theories of Milton Friedman. Its been downhill ever since. You can track the progression of the dismantling of Canada since the mid-70's. Monetary sovereignty Its the key to everything we hold dear in Canada.

Currently the Bank of Canada prints about 2% of the money in circulation in Canada (the cash in our wallets). But the Bank could print 50% of that money. Our governments borrow the rest from private banks and we pay combined interest (federal, provincial & municipal) upwards of $60 billion per year. If our Bank of Canada were used properly, we could save that money, pay off our debts, lower our taxes (including progressive elimination of personal income tax) and have the best of everything in Canada! All without sacrificing our sovereignty!


§ --------- Where Do We Go From Here ---------

Take Canadian citizens money out of the hands of private foreign banks and put it back in the trust of The Bank of Canada.

The Government of Canada, take back its constitutionally authorized control of credit (for the purposes of national programs) from the private financiers and managing it within the government as a public utility, as it SHOULD BE!!

"Sovereign creation of credit
is not based on debt. It is and
should be based on direct
spending of money into circulation
by the government itself.
Obviously the government should
do this in a way that promotes
the best interests of the members
of society while respecting the
varying degrees of contribution by
those of different levels of skill
and achievement. It is quite
possible to enact such a program
with due regard to all established
conventions of private property
and the private ownership and
control of existing wealth"
-- Richard C. Cook

Sovereign Money Creation – A Better Way Forward?

Sovereign Money Creation – A Better Way Forward?

Money.

You use it on a daily basis. Today in many ways it sets the difference between a life of struggle and a life of joy and abundance. And yet, very few people think about the function of money, let alone how it comes into existence.

Unlike natural resources which today are still limited in supply, money is a human invention with potential unlimited availability.

As a consequence, we are free to determine how much money exists, who receives it, who makes it and what it means to us.

Money and our entire monetary system is a convention.

How is money created today?
Asking this question is actually asking the wrong question. Money in its generic form doesn’t really exist, only currencies do.

The number of currencies is unknown as a group of people as small as two persons could come up with their own currency and consider it a valid method of payment amongst each other. With the rise of internet technology, virtual currencies like Bitcoin are coming and going.

An exhaustive list of currencies considered to be a legal tender – basically government supported currencies – does exist though. At the time of writing there were 180 government supported currencies.

The importance of a currency is hence the number of people willing to accept it and which authority they attribute to the currency.

Back to the original question: asking how money is created today is hence asking how a specific currency is created.

For the sake of this article, we will not look into the private or alternative currency systems as a wide array of systems exists, ranging from ‘mining’ for bitcoins, basically solving complex math problems, to time based currencies who just use time as a unit of currency: one hour of work is one credit.

Our focus are the currencies that are used as a legal tender as today they are the central currencies that facilitate trade between people.

money printing

How are currencies that hold legal tender created today?
You might think of coins minted and bank notes printed when you think of money that is created by the government. After all, that is what people use on an everyday basis to purchase goods and services.

You might even think money electronically available in your bank accounts is the number of those coins and notes that the bank holds for you.

The reality is different. For instance, in the UK , only 3% of our entire money supply – the total amount of money in circulation – is coins and bank notes. The other 97% is created by the banking system in the form of debt. These percentages are common because of the nature of the system that is used.

When a bank makes a loan – for example to a person looking for a mortgage to buy a house – it does not give that person the amount of money in cash. Instead, the bank adds the number into a computer and the amount shows up in that person’s bank account. In effect, new money was created.

If the person uses the deposit (for instance to buy a house) and transfers this money to the bank account of the seller, the bank of the seller can lend out a percentage of that amount. Meaning that from the initial loan banks can create new loans. This is called fractional reserve banking.

The percentage is determined by the required reserve ratio, basically a percentage of money banks need to keep ‘in-house’. That percentage determines how much extra money can be created.

A simple table shows to illustrate how loans are leverage to create new money. Let us apply a reserve ratio of 20%.

Sovereign Money Creation table

It would take 82 of these transactions to reach the maximum of money that can be created, being 500.000. An easy formula can be applied to calculate the money creation power. Take the amount of the initial loan (100.000) and multiply it with the number you get when dividing one with the required reserve ratio (1/20% = 5)

In case you are curious what the required reserve percentage is… it varies wildly: Western countries such as Australia and Canada do not have any reserve, the EU has a reserve requirement of 1%, the US an average of 3.1%.

With the fast growing economies, Russia trails with a 4%, Brazil leads with a reserve requirement of 20%, closely followed by China which set the reserve at 18.5%

Sovereign money creation, an alternative?
On a technical level much can be said about the value and the disadvantages of this system. Depending which perspective you take, you may consider this system to create instability or growth.

The more fundamental question to ask though is who is entitled to create money, not only coins and notes but also, and especially, the digital form of money.

In the fractional banking system as described above, the control of ‘digital money’ is primarily placed with two parties: the central bank committee who decides on the money creation policies and the commercial banks who are able to create money via the practice of lending, limited by the reserve ratio.

There are two points of attention to consider: first, the monetary policies coming out of the central bank are put in place by people who have not been publicly mandated.

Second, commercial banks are privately owned entities who aim to maximise profits, meaning private interests prevail over public interests.

It would be too easy to label this choice as an outrage. It is a system that has brought us forward, albeit with many flaws and inequalities.

That being said, the question that arises, can we improve it?

Assuming we agree the monetary policies need to support the quality of life of everybody, from beggar to investor, the idea of sovereign money creation is appealing. Sovereign money creation puts the responsibility of all money creation, not only the minting of coins and printing of paper, into the hands of the elected government.

The main advantage is clear: policy and money creation are in the same hands. Apart from an increased democratic legitimacy, there is also increased accountability for the actions of politicians who cannot hide behind ‘the markets’.

This shift would also reinstate power from those markets to the actual policy makers. Too often, politicians are impacted by financial markets and private interests in their policy decisions. Bringing the money creation into the hands of a government would put politicians back in control.

The pitfall and its solutions
Of course, there also lies the potential pitfall. Democracy is not always leading to the most optimal results, Hitler was elected democratically.

What if an elected government would abuse their power to create money? This would both have domestic and international impact.

Solutions to prevent this do exist:

Governments need to indicate on which policies they will spend the money in beforehand.
The Central Bank or any financial body with the required economic expertise, can formally review this, to assess the impact it will have on our economy.
A monthly or quarterly review can be done to assess to what extent the results of the money creation lie in line with the policy goals set.
What happens with the bankers?
Minting euro coins

In a sovereign money creation system, commercial banks would lose their possibility to create money through loans.

Does this mean commercial banking is dead and bankers cannot earn any money?

Of course not.

Financial markets and financial products would still be there for banks to profit from.

Governments could fiscally or financially reward commercial bankers for acting in a way that supports the policy goals set, aligning the public good with private interests.

In short, there are plenty of ways to ensure commercial banks can thrive under a sovereign money creation system. Obviously this approach focuses solely on the economic dimension.

It does not take into account any psychological impact this has on people working in the banking system…

Where are we today?
Public support for the idea of sovereign money creation is growing, even from people intimate with the existing system.

For instance, chief economics commenter of the Financial Times, Martin Wolf, pleas to stop commercial banks from creating money.

More importantly, the government of Iceland has effectively put up a legal bill to end the current system where private banks create money via loans and transfer all money creation authority back to the Icelandic central bank.

Opposition to the idea exists as well. The main objection that less credit would hinder innovation and growth.

Breaking it down to its essence
In conclusion, let’s take a step back from the technicality of the system.

The central question one needs to ask is not a question of money creation. Rather it is which society do we want and to whom do we give control to create it.

And even more important, do we need debt to innovate?

Do you want it to be a private system or a publicly controlled system?

Do you prefer an elected government or a non elected body of experts to be in control? Or maybe both?

Money today is the fuel of our societal progress. At this time in history, it is too important not to care…

Want more?
In the mood for more food for thought? We redesigned our money system in a way that it supports our quality of life. We call it the Sustainable Money System. Do you want to find out more about it? Go explore the model!

AFFIDAVIT OF TRUTH TO YOUR BANK

  AFFIDAVIT OF TRUTH TO YOUR BANK   3 Parts to the Affidavit of Truth 1.        Listing who the grievances are and listing of your tru...