Now when I read this headline I was struck by the absolute and sheer brainwashing the Financial Post hires it’s droids for (writers) to make sure Canadians stay as uninformed as can be. Now check this out.
Jamie Golombek, CPA, CA, CFP, CLU, TEP is the Managing Director, Tax & Estate Planning with CIBC Wealth Strategies Group in Toronto. Jamie.Golombek@cibc.com
“You see, for years, I’ve had an ethical quandary. When visiting a local bakery or convenience store to buy a single item using cash, the cashier tells me the price, often including the sales tax where applicable, and hands me my change without ringing the item into the cash register. If the cashier is merely an employee and not the shop’s owner, there’s a good chance he is simply pocketing all that untracked cash at the end of the day or, to put it bluntly, stealing.”
Quite the charge to be making on simple assumptions. First, Jamie assumes many things in his article. He assumes the cashier is a thief when in fact a quick scan of items, at months end, that are missing would surely tip the owner to notice the theft. 2) ” If the cashier is merely an employee and not the shop’s owner, there’s a good chance he is simply pocketing all that untracked cash at the end of the day or, to put it bluntly, stealing” Now how can one make that leap forward is incredible but he does it anyways. (One would assume the owner would rather like to avoid the paying of taxes and not the other way around.)
Anyways, a quick scan of the article let’s you know what the propaganda is all about. It’s about cash and the war on cash. To let you know how cash is correlated to crime, terrorism, “underground” etc..
Jamie even goes to tell how the Canadian Revenue Agency is a well noted institution worthy of our honor. Well, in fact the CRA is simply a tax grab for the elites and their globalist agenda.
As we have made mention repeatedly. The Bank of Canada is no longer the propriety of Canadians but part of the BIS. In fact when you look at this chart the picture tells a thousand words.
The above chart illustrates the history of Canada’s federal debt; obviously something went terribly wrong after 1974. Over a 108 year period (1867-1974) the accumulated debt shows as nearly a flat line growing to only $21.6 billion. But around 1974, the debt began to grow exponentially and, over a mere 39 years, it reached over $600 billion in 2013.
So, what happened around 1974? In that year
“To achieve that goal, the Committee discouraged borrowing from a nation’s own central bank interest-free and encouraged borrowing from private creditors”
The Basel Committee was established by the central-bank Governors of the Group of Ten countries of the member central banks of the Bank for International Settlements (BIS), which included Canada. A key objective of the Committee was and is to maintain “monetary and financial stability.” To achieve that goal, the Committee discouraged borrowing from a nation’s own central bank interest-free and encouraged borrowing from private creditors, all in the name of “maintaining the stability of the currency.”
The presumption was that borrowing from a central bank with the power to create money on its books would inflate the money supply and prices. Borrowing from private creditors, on the other hand, was considered not to be inflationary, since it involved the recycling of pre-existing money. What the bankers did not reveal, although they had long known it themselves, was that private banks create the money they lend just as public banks do. The difference is simply that a publicly-owned bank returns the interest to the government and the community, while a privately-owned bank siphons the interest into its capital account, to be re-invested at further interest, progressively drawing money out of the productive economy.
Now of course Jamie is as squeaky clean as one can be when it comes to his “ethical quandary”. But how morally acceptable is he really when it comes to knowing your economics. Here is what debt fueled prosperity enacted by our elites results in being. Here, here, here, here and here and here and so on….. as oppose to the power of people . “The intellect of the talented people [ is what] create value, the infrastructure, the primary institutions, and the capital goods that allow individuals to turn their time into valuable outputs have not changed.” It ain’t debt and lending nor is it cash or the lack thereof.
When you start to charge an interest rate on any form of money lending. You effectively create money out of thin air. The interest is that money that is non-existent in the economy. So one needs to then compete like an animal for the shrinking pie. When eventually the capital is swallowed up by the interest payments. Just like Ontario and Quebec are experiencing. Which leads to austerity measure which leads to the selling of crown jewels. Which then renders the sovereignty of a country to dictate its future. Since it is now in the hands of the money lenders.
Now while Jamie flouts his credentials. Which are what we call “braindead”. Try staying focused on how economics really work. It’s rather simple. Cash is king and credit is a fool’s errand.