Quote:
Scam of the Century - the Canadian National "Debt" [Excerpt]
. . .The doctrine of odious debts: "...If a despotic power incurs a debt not for the needs or in the interest of the State, but to strengthen its despotic regime, to repress the population that fights against it, etc., this debt is odious for the population of all the State.... This debt is not an obligation for the nation; it is a regime's debt, a personal debt of the power that has incurred it, consequently it falls with the fall of this power."
- from MY perspective, this applies pretty well to the Canadian so-called "national debt" - it was NOT a necessary debt, when the Bank of Canada had been historically used to provide most of the necessary money when the government faced a shortfall - and, with the possible exception of the one hundred or so billion, the great bulk of the money that has been collected to "service" the debt has, rather obviously, NOT been used for the service of the Canadian people. The debt was incurred, and whether or not one can prove it was done intentionally, it has been used as a weapon against the people of Canada, used as an excuse to roll back generations of advancement in terms of providing safe and secure lives for Canadians, on the excuse of turning literally hundreds of billions of dollars over to those "investors" holding the debt ....
You may like this guy, a Canadian of about 62 whose name is Dave Patterson. In fact I think you and he have a lot in common and you ought to find him very simpatico. He is as angry about the debt as you are. And reading his partial bio, he has been pursuing the issue for a long time, at least from the Eighties. He's sort of a hippie era ex would be rock star whose "professional" training is in ecology, and who's published writing is a series of children's books. He also worked for CUSO in Thailand, working with NGO's. His website's mission statement and white papers make him sound crazily utopian. But to be that at 62 is quite admirable. This is not to say that I agree with his, and your, concern with debt or his fascination with getting off a debt-based monetary system, though in idealistic terms, the liberation from this system that the Glasgow-based group Patterson
Quote:
Money Reformers advocate that the virtual Monopoly of Money Creation must be removed from the corporate banking system and we work to establish a publicly-created supply of debt-free money, created on behalf of the people, by a public body.
This money should be spent, not lent, into society on the basis of proven need. This will gradually reduce the overall burden of debt in society, break reliance upon the private banking system for the supply of money, open potential for change, and empower people democratically.
The Money Reformers’ proposal is not a left-wing, or right-wing idea. It’s just good sense!
"Prosperity," this group hopefully calls itself.
Quote:
. . .over the past year, Chancellor Angela Merkel of Germany has been destructively pushing her partners to enact laws that would prolong the recession by setting rigid deficit ceilings, denying countries the fiscal flexibility sometimes needed to revive growth.