Here comes a Canadian who rejects the baking system, with an excellent explication of how things work worldwide:
I don't think having the state do what private banks do is much better, but to realize what the private banks do is wrong is a start.
We need to deregulate banking, so the force and fraud today is no longer protected by the state. Then banks would be private and have to behave themselves. We need a separation of bank and state.
Feel free to forward this by email to three of your friends.
It is important to realize that fiat currencies such as the Canadian dollar are not backed by anything tangible like gold. Rather, they are created out of thin air whenever a loan is made. As admitted by the Bank of England in March of 2014, "Commercial banks create money, in the form of bank deposits, by making new loans. When a bank makes a loan, for example to someone taking out a mortgage to buy a house, it does not typically do so by giving them thousands of pounds of banknotes. Instead, it credits their bank account with a bank deposit of the size of the mortgage. At that moment, new money is created."
Give yourself a moment to let this sink in. Banks do not need to attract deposits first in order to make loans. When you are borrowing money from the bank, you are not borrowing money deposited by someone else. Instead, it is your own borrowing that is creating the money that is being lent and which you will be expected to pay back (with interest).
I don't think having the state do what private banks do is much better, but to realize what the private banks do is wrong is a start.
We need to deregulate banking, so the force and fraud today is no longer protected by the state. Then banks would be private and have to behave themselves. We need a separation of bank and state.
Feel free to forward this by email to three of your friends.
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