Bank of Canada
A very good friend of mine just sent me this link. He’s heartened to see that people are finally starting to recognize how the Bank of Canada should be used as opposed to “lining the pockets” of Commercial Banks https://www.thestar.com/opinion/contributors/2020/06/03/radical-economic-policies-are-working-and-show-a-future-path.html
I know this whole issue is complex (probably to hide the truth of it all) and that many will say it can’t be viewed so simplistically or in isolation but it’s still a lot of money to be paying every minute … don’t you think? So, if you can admit that you have been part of the “apathetic majority” and don’t really know what we’re paying in interest, here is our position as provided by: http://www.generationscrewed.ca/how-screwed-are-you “the federal government pays $91,000 of interest per minute, 24 hours a day; thirty-seven cents of every federal tax dollar collected from Canadians go not for services and programs, but for paying interest; of total federal expenditures of $161.5 billion, $47.8 billion or 30% was for interest. “I don’t know about you but this seems a “little excessive” to me!
Maybe it behooves each of us to be asking “why are we doing this to ourselves”? Its at this point when the Pogo cartoon of years ago comes to mind. Pogo pointed out, “I have seen the enemy and he is us!
Just sayin’ – Rod