Canadian monetary policy needs to be changed

[D suzuki]

Another wingnut court challenge that will go nowhere.

neb you a mormon?

[noneofyourbiz3]

Perspective on gold standard.

http://www.24hgold.com/english/contribu ... as%20Price

[noneofyourbiz3]

Some old news on Canada asking for information back in Feb of this year on manipulation of LIBOR rates. Well..guess they were right.

http://www.reuters.com/article/2012/02/ ... GN20120228

Solution. Start using the Bank of Canada as it was legislated.

[HoboJo]

I could quit my job and go back to school but.. I don't care that much.

Anyone care to tell me (in simple terms please) why we can't print money for every once of gold/oil/uranium/nickel/tree we harvest here?

Why Canada is not the richest country on the planet? Why the Middle East is rich and we are not?

(Just asking)

[kompili]

To many thieves in the pot.

[HoboJo]

Ermm... thank you for that.

I am not Social Credit but some day's I wonder. There was that dam that Hoover built with matching currency.

(Underschooled and cool with it)

[Glacier]

Why Canada is not the richest country on the planet? Why the Middle East is rich and we are not?

(Just asking)

Huh? The middle east is rich? Their kings may be rich, but the common man lives in poverty. Also, they have more of a class structure over there, so the poor don't have the opportunities to move up like they do here.

[HoboJo]

True. The "kings" do get allot of the money.

Even with that disparity there is a trace of trickle down economics. A touch of social ... stuff ...

Canada has those gusy beat 10 to 1., Uranium, One of a few Nickle mines, Gold, Diamonds.... Oh Ya, Don't forget that AB has almost the same Oil reserves as the Middle East.

Not studying economics, just wondering why we can't print money and be socialist whithout &^$*&^ those of us who are so un-educated that we have to work?

[Glacier]

Ramping up the printing press is horrible economic policy, and leaves everyone poorer in the end.

[HoboJo]

I agree that the willy nilly printing of money must devalue it. Especially if we print more money than the value of the "new" goods we harvest. There would be no incentive to "save" money (retirement, buying a house etc).

If people don't save or treasure money it will become truly useless. Back to bartering labor for food and a regression to an agricultural lifestyle. Or worse.

I still have a nagging feeling that the current system seems to be neither fair nor particularly effective. And that Canadians should be amongst the wealthiest on the planet.

**Edited to add that I know Canada is certainly not a "have not" nation and that I certainly do not feel hard done by.

[sanfish]

The government borrows money from the private banksters at interest.

Huh? Since when?

If I'm not mistaken, banks borrow money from Bank of Canada, and in return they lend money to public and businesses.

You are mistaken. More importantly(read sneakily), the banks have license to expand the money supply with "promise to pay money" creating the hidden tax known as unecessary inflation. Between 1867 and 1992 Canada borrowed only $37 billion dollars for real expenditures(ie infrastructure projects etc). At the beginning of 1993 the debt was $427 Billion........the 380 billion was the result of interest on interest

[Jonrox]

I still have a nagging feeling that the current system seems to be neither fair nor particularly effective. And that Canadians should be amongst the wealthiest on the planet.

We're already among the wealthiest on the planet.

Your post shows the naivety most people have about the rest of the world. You have no idea how good we have it.

http://www.forbes.com/sites/bethgreenfield/2012/02/22/the-worlds-richest-countries/

Canada is the #14 richest country in the world.

[sanfish]

Money has always been debt. Money is a medium of exchange, it represents the owing of something of a similar value. When it was backed by gold is was still debt, just one that was linked to the price of gold. Money is a means to break down values into something easier to handle multiple transactions of things at varying prices.

Money will always be debt as it is a promise of value, not value in itself.

Wrong! While it is true that all "money" is debt, it is false to say it always has been. Most recently Libya had interest debt free currency spent into existence by the govt but of course people say he was a tyrant tc....yes a tyrant who gave interest free loans to the people, lump some payment to newlyweds to buy a home,guaranteed incomes for university grads etc

Other examples would be Canada's own Dominion notes in the first half of the 20th century until banks sidestepped the constitution with promise to pay money.

The Green back which helped the North win the the Civil War. The Continental which helped the colonies wint the War of Independance(and was only devalued by massive counterfeitting by the british crown)

Lerss known are a couple of the greatest known times of history.....cheap to produce interest free copper "money" led to the rise of the Roman Empire......gold coins with Ceasers face "borrowed" from "banks" led to the FALL of the Roman empire

"Tally sticks" introduced (interest free) by King Henry led to the Renaissance and some of Europes greatest literary and architectural works.

"Money" is only debt for 2 reasons 1) because those that would profit from it want it that way
2) because we allow it

[sanfish]

The government borrows money from the private banksters at interest.

Huh? Since when?

If I'm not mistaken, banks borrow money from Bank of Canada, and in return they lend money to public and businesses.

You are mistaken! If you weren't we wouldnt have a national debt! Even if the country borrowed money from the Bank of Canada(like its supposed to in clear instructions in the Constitution and Bank Act) likde it does from the private Banks(at interest) the net result would be zero(accounts payable would have the debt....accounts receivable would have the debt owed)

[sanfish]

nate, you have clearly been sucked in by the conspiracy theorist and wingnut crowd. As the lyrics go, Another one bites the dust.

Rather than attempt to poke fun at someone when you have no such attack on the message, please try supporting your position with actual arguments and back them up with facts