Letter to the editor – Banking Act

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Dear Editor,

Thank you to the editors of the North Grenville Times for bringing people together through this medium. Keep up the excellent work.

This letter is specifically meant for Mr. Colin Creasy of Kemptville. If you could forward it directly to the above person, it would be much appreciated.

Mr. Creasey made several important observations in his letter. The first was that we as a people seem to have become immune from “their lies”. It’s not too hard to understand. Under Prime Minister Brian Mulroney there was a big outcry when the G.S.T. was imposed. Now, no one complains. Here in Canada there is a tendency to complain at first and then stick one’s head in the sand and wait for the powers that be to come and chop it off. In the next observation was a proposal to simply borrow from ourselves? Actually going back to the much ignored British North America Act the government of Canada was given the power to create, issue and control the currency of the land. This meant it could borrow against it’s own good name at the lowest rate. Section 91 of The Act deals with this specific subject. So what happened?

The Banking Act of 1913 gave this power over to the banking establishment. Since the government had abrogated its responsibility to the people of the country they needed to replace their rapidly diminishing revenue. In 1917 there came into law The Income War Measures Act, an Act meant to pay for the costs of W.W.1. It was supposed to be temporary. As we all know by now it has become Permanent and is Income Tax. As you can see the government did not have to put its people under the debt burden. This makes a mockery of the Conservative Party’s much vaunted insistence that the government should seek to pay off the national debt and the deficits. Such a thing is impossible under a Debt generating system.

I have written a book on this subject which details how this problem came about and the solution. I believe it is high time for people who really care about the future of their country to get together to change the cataclysmic course of history we are presently on.

So, thank you once again to the editors of this esteemed magazine and all the best for 2019.

Sincerely,
Vito Carini.

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