Milton Friedman: The Illusion of Government Money

When Canadian Gerald McGeer pointed out that the Great Depression was man-made, parliament instituted a law that allowed Canada to print 22% of it's currency without interest. This went towards infrastructure, social programs, and emergency costs like floods, fires and storm damages. Why, when disaster happens, and assets are destroyed, should the government incur debt, the money goes to rebuild and does not create inflation. And how interesting that this new GEOengineered climate change is now just another way to force debt onto nations. But I digress. This 22% allowed the Canadian government to function for FOUR decades without ANY increase in national debt or inflation, from 1934 to 1974. Canada had the third largest Navy, had exceptional railways, and networks of railways, put in Family Allowance, and got healthcare for everyone. Since that time in 1974 when Canada stopped printing this 22%, the national debt ballooned from 18 billion to over 600 billion. Canadians pay somewhere around 160 million dollars every single day to the banks. WHY??? If every nation used this method, it would be a fantastic start. Some other changes are also needed, like wealth capping, and ending derivative markets, and regulation over monopoly, and "free trade". But the 22% formula would be an excellent beginning. We chant 99%, but perhaps we should start chanting 22%

No comments:

Post a Comment

Blog Archive

Friendly Blogs List