12-yr-old Girl Solves Most of World's Problems !!!
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12-year-old Victoria Grant's message was that private central and commercial banks create money “out of thin air” and lend it to people and governments at interest. If governments issued their own money, they would save a lot of money for the taxpayers.
Her own country of Canada did this from 1939 to 1974. During that time, the government’s debt was low and sustainable, and it funded all sorts of remarkable things. When Canada switched to borrowing privately, it acquire a crippling national debt as it sold bonds at interest up to 22%.
Victoria quoted Graham Towers, head of the Bank of Canada :
''Each and every time a bank makes a loan, new bank credit is created — new deposits — brand new money. Broadly speaking, all new money comes out of a Bank in the form of loans. As loans are debts, then under the present system all money is debt.''
“If Parliament wants to change the form of operating the banking system, then certainly that is within the power of Parliament.”
“If the Canadian government needs money, they can borrow it directly from the Bank of Canada. The people would then pay fair taxes to repay the Bank of Canada. This tax money would in turn get injected back into the economic infrastructure and the debt would be wiped out. Canadians would again prosper with real money as the foundation of our economic structure and not debt money. Regarding the debt money owed to the private banks such as the Royal Bank, we would simply have the Bank of Canada print the money owing, hand it over to the private banks, and then clear the debt to the Bank of Canada.”
The Canadian government’s own Auditor General noted in his annual report that 91% of the debt consists of compounded interest charges. Subtract those and the government would have a debt of only C$37 billion, very low and sustainable, just as it was before 1974. -
55 year old sees the truth...
Greed -> More Greed -> Empty the Coffers -> Financial Collapse -> More Financial Collapse
In other words, some smart alecs created a situation where everybody is suffering now. All for their Greed.
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not greed.....................
almost all people on earth that work or run a business..................is a slave to the private central bankers..........................
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wise words from susanteo2011 ,then what about yourself? are u one of the slaves?
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President Obama should either hired Victoria Grant as finanical advisor or at least listen to her. So is our "gahmen". Wonder whether she has solution for reducing high housing cost as well.
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It's true that all central banks create brand new money. All central banks do.
If new money is not paid for with interest to private lenders, ie if the central bank simply prints it, how can it have value?
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The high credit expansion is the result of the current financial turmoil.
Welcome to the global depression.
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why must we, the innocent people who did not take part in the gamble of those greedy people pay for their debts?
i say, let them pay it off on their own....when they earn profits, it's all theirs
to save our money, i rather draw all of them out then to allow it to be used to pay off their debts....no matter there will be bank runs
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Originally posted by kengkia:
wise words from susanteo2011 ,then what about yourself? are u one of the slaves?
as long as you need to work or do business to get money to buy the things you need, you are.......
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Originally posted by M the name:
President Obama should either hired Victoria Grant as finanical advisor or at least listen to her. So is our "gahmen". Wonder whether she has solution for reducing high housing cost as well.
Obama and all presidents and prime ministers are just actors and puppets........
that's why they don't abolish the private central banks that have hijacked the entire country.......
all countries used to issue their own currencies until their politicians got bought over by bankers...........then the central banks became private........