Elite Bankrupting Countries Using Fiat Currency
By Sandford Tuey
Canada uses FIAT currency as do most of the world’s nations.
Our Canadian federal government in 1867 was the only legal entity allowed to create and print our nation’s money. Back then, the only cost associated with producing our national currency was the costs associated with the operational and maintenance costs of the printing press, the ink, special paper and salaries of those that ran the machines and those that distributed it throughout our private banking system. There was no additional cost, interest or debt attached to the creation of our money (bills & coins). If the cost to bring a dollar into being was 0.10 cents, that meant that each dollar created provided 0.90 cents worth of real value. This original form of money was called ‘legal tender’ and all government revenue was generated from only a ‘sales tax’ and fees for liceses, immigrants, citizenship and tariffs.
Canada introduced it’s first ‘Income Tax’ to pay for the debt caused by the first world war. This new income tax was to be a short term tax created to pay off the debt our country incurred to build the world’s third largest navy and arm our military forces. This temporary ‘Income Tax’ was such a cash cow for Canada’s politicians, that after our WW1 debt was paid off, they did not cancel it as promised. Because this new tax generates too much profit for Canada’s general treasury, Revenue Canada continues to force citizens to pay this form of taxation to this present day, yet it is still listed as a “temporary tax. Don’t expect it to be terminated anytime soon.
When the Great Depression hit Canada in 1929, we were forced to go further in debt to put the millions of unemployed Canadians to work. The government of this time decided to finance and build the Saint Lawrence Seaway, the nationwide Trans Canada highway, the Canadian National Railway system and many other mega infrastructure projects. In later years, Canadians benefitted enormously from the introduction of our Medical Health system and Canada Pension Plan to this day.
The rulers of the world’s monetary systems within every country, decided to construct the Great Depression on purpose. This deadly event transfered the wealth, property and assets of the people and the private sector to the benefit of the Rothschild international banking cartel (who created and controlled all the Central Banks). They reduced the amount of global credit and money to bankrupt and eliminate the independent small private banks that they did not control. They didn’t care who would become collateral damage, like the poor and middle class who lost everything they had in the banks and their property that they could not sustain paying for, was seized due to no work to earn money to pay their debts. This evil tactic caused major hardship on the entire world’s population, yet those in control of the banking systems gobbled up the independent middle sized banks and solidified their control of the entire monetary system globally.
In 1934, Canada’s politicians decided to issue bonds (national debt) to private banks for them to produce the country’s currency, but now with a higher production cost and additional interest to be paid for this service that our Central Bank could do for a lot less. Canada’s central bank, the Bank of Canada is owned by a private consortium and the Rothschild international banking cartel corporations and not the citizens of Canada, as everyone believes. This was treason by our government representatives at the time, but Canada’s citizens did not speak up or understand the atrocity this would become. Canada owed less than $300 million back then, a manageable sum at the time.
In 1974, our politicians racked up the federal debt which climbed to over $18 Billion. The Liberals decided to take Canada off the gold standard and by 2016, Canada sold all of it’s gold reserves. We have no gold backing our currency anymore. Instead we have offered government assets, builds, national parks and islands and other nationwide resources like lumber, oil, mining as collateral for the tremendous debts being racked up over the past six decades. Canada’s present federal debt is over $700 Billion and rising by over $10 Million per day.
Today Canada uses what is called ‘FIAT’ currency. The majority of the world’s countries have now transferred to using only worthless FIAT currency and no longer have their currency attached to the gold standard. Every American dollar bill used to have printed on each one, ‘Redeemable In Gold,’ but today cannot be turned in for gold. US dollars now have ‘Federal Reserve Note on them.
The Federal Reserve is not federal, nor a reserve of anything. Every nation’s FIAT currency seems to have been created to one day be collapsed for a major wealth transfer from the people, to these foreign private groups that own the Central Banks in every nation. The reason they do not wish to bankrupt any financial institutions this time, is because they own them all, they will legally take the people’s money directly out of their accounts. This will be done by using the ‘Bail In Act,’ which Canada adopted in 2013. That day is coming sooner than people realize and as long as Canada must pay skyrocketing interest rates for debt, deficits and to print our money by the private banks, that are in turn controlled by the central bank global system, our nation will never get out from under this massive debt oppressing us. This has been the plan since the creation of the central banks by the elite super-rich globalist oligarchs.
We need to take back control of our monetary system!