Wednesday, May 16, 2012

The Corrupt Banking System by 12-year old Victoria Grant


I thought the above video is so great at explaining the corruption that it would be great to post it here with the full explanation found at (

The Corrupt Banking System
By: Victoria Grant
Resurrection Christian Academy
Grade 6

Have you ever wondered why Canada is in debt?  Have you ever wondered why the government forces Canadians to pay so many taxes? Have you ever wondered why the bankers from the largest private banks are becoming wealthier, and the rest of us are not? Have you ever wondered why the gross national debt is over $800 billion dollars? Or why we are spending $160 million dollars a day on the interest of the national debt? That is $60 billion dollars a year! Have you ever wondered who receives the $60 billion dollars? 
What I have discovered is the banks and the government have colluded to financially enslave the people of Canada.
I will share with you three important points of reference which will hopefully spark enough interest and concern for you to continue the research on your own and to engage your government to stop this criminal act against the people of Canada.
First, we will briefly examine the Bank of Canada.  Second, we will see how the banking system works today.  And lastly, I will offer a viable solution that we can petition our government to implement.

The Bank of Canada

A very little known figure in Canadian history is Gerald Grattan McGeer.  He was a lawyer, a Member of Parliament and Mayor of Vancouver.
His contribution to Canada is probably one of the greatest in our history.  He championed the creation of the National Bank of Canada whose sole purpose is to create and manage Canada’s money.  It was formed on July 3rd, 1934 and owned by all Canadians.
            Until the 1970’s, because of the Bank of Canada, Canada’s national debt was held at a constant manageable level until the government decided to implement what we now have as our modern banking system that is robbing the Canadian people.  So how are they robbing us?

How the Banking System Works Today

Allow me to explain how our private banks and government work today: first the Canadian government borrows money from the Private Banks.  They then lend the debt based money to Canada, with compounded interest. The government then continues to increase taxation of Canadians, year after year,  in order to pay back the interest on the exponentially growing national debt. What results is inflation, less real money for Canadians to spend into our economy, and the real money being used to pad the pockets of the banks.
As well,  the government gave the banks the ability to lend out money that doesn’t exist in the form of loans. When a bank actually gives you a mortgage, which literally means a ‘death pledge’ or a loan, the banks do not actually give you money.  They click a key on a computer and generate the fake money out of thin air.  They don’t actually have it in their bank vaults.  Presently, the banks only have 4 billion dollars on reserve but they have loaned out over 1.5 Trillion dollars.
To quote Graham Towers, “Each and every time a bank makes a loan a new bank credit is created-new deposits-brand new money. Broadly speaking, all new money comes out of a bank in the form of loans. As loans are debts, then under the present system all money is debt.”

What I find interesting is even Jesus in Matthew 21 drove out the money changers in the temple because they were manipulating the currency to steal money from the people.
 The private banks are just like the money changers in Matthew 21, They are defrauding and robbing the people of Canada of their money; thus, their freedom and they need to be stopped.

How the Banking System Should Work

How should the banking system work?
In an infamous interview Mr. McGeer asked Mr. Towers, “Will you tell me why a government with power to create money should give that power away to a private monopoly, and then borrow that which parliament can create itself, back at interest, to the point of national bankruptcy?”
            Mr. Towers replied, “If parliament wants to change the form of operating the banking system, then certainly that is within the power of parliament.”
In other words, if the Canadian government needs money for the country they can borrow the money directly from the Bank of Canada. The people would then pay fair taxes to repay the Bank of Canada; this tax money would in turn get injected back into our economic infrastructure and eventually the debt would be wiped out. Canadians would again prosper with real money as the foundation of our economic structure instead of debt money.
            Regarding, the debt money that is owed the private banks such as the Royal Bank, we would simply have the Bank of Canada print the money owing, hand it over to the private banks, and then clear the debt with the Bank of Canada.  And yes, we have the power and lawful right to do so.


            In conclusion, it has become painfully obvious, even for me, a 12 year old Canadian, that we are being defrauded and robbed by the banking system and a complicit government.  What will we do to stop this crime?  What will we do to ensure that the next generation will live free and clear of the debt based economy that enslaves them to the bankers? 
Margaret Mead said this quote and I hope that all of you remember this “Never doubt that a small group of people can change the world. Indeed, it is the only thing that ever has.”

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