Hi Dan! Thank you very much for the article and content as I have had much connection with the subject matter over the years.
What follows, however, reflects an approach that simplifies much of the material. This is a brief excerpt from the introduction to a section on, among other things, how the nominal money system and the nominal tax system interact. It's a different perspective but let me know if anyone wants to see more and I will post some more.
___
[Reader comment on TPM comment concerning concealed inflationary effects of concealed credit-card fees, and of interest generally]:
One wonders if it would be meaningful to think more in terms of credit potentiality than money supply when reckoning the impact of expected interest payments. As I understand it, revenue from interest income increases enterprise value, which increases the capacity to carry debt. Certainly somewhere in the transaction is usurpation of power, for debt is used to underwrite all manner of mad and predatory claims in market economies.
[TPM Answer (with typo / corrections, minor additions / clarifications, and footnotes)]:
What you are describing is a feedback-loop, and you are correct on all counts.
Real-estate values / prices are the primary sponge that soaks up systemic credit / money-supply inflation on behalf of the property-owning class. Enterprise / business assets are currently a close second - and / but, critically, the real-estate assets are themselves ever more increasingly owned by the corporate / enterprise assets. Ultimately (and right soon) all real-estate / real-estate-titles will be (openly) owned as corporate assets.
The sine qua non or one essential element of the private nominal banking system is the systemic interminability of essentially half of all financial liabilities, as and when they are created and issued. Once a (net) legal-debt is created in the form of a deposit-liability (to the credit-financed seller of a property), it tends to persist forever (and be absorbed into the general increase in real-estate and other real-asset values and prices).
In a fiat-money system no debt is ever paid but only settled or discharged, meaning that it is either off-set (e.g., nominal payment from another account at the same institution or another / common clearinghouse-member), or legally assigned to some other outside legal entity (e.g. to or through a foreign bank) (and / but balanced by an on-average equal amount coming in from those outside but otherwise connected foreign-nodes of the same global system).
This means that the only way (net) deposit-liability-debt-money is destroyed is through bankruptcy of or within the private institutional structure, or by nominal / pretended taxation (in off-set (mutual annihilation) of artificial tax-liabilities created by the taxation Acts). Once it is realized that nominal taxation is incapable of raising money for government, and is the pure targeted destruction / razing of the financial capacity of the class of legal-persons to whom it is directed, the whole rotten system comes into a wonderfully sharp focus.
Public Burning-Pits
Assume that the Minister of National Revenue were to call a press conference to announce a new administrative program for nominal taxation in Canada.
Under the new program all nominal taxpayers are required to withdraw the amount of their tax liabilities in cash, and then report to new facilities called “Public Burning Pits”. Upon arrival at a Public Burning Pit, the cash is recorded and verified by Canada Revenue Agency (CRA) as to its genuineness and amount. The nominal taxpayer is then required to throw their cash into the Public Burning Pit and watch it burn.
According to the Minister the new program is a function of having amended the Income Tax Act to simplify its essential and material provisions. Henceforth, if someone commits the offence of working to earn $100,000, for example, then they are punished for the offence by reporting to the Public Burning Pits where they are required to burn $30,000 from their earnings.
If the government of Canada were to institute such a program, then what fundamental change would it have to make to the existing accounting system?
None whatsoever.
Taxation as we know it does not raise money for government - its sole purpose and function is the targeted destruction or razing of purchasing-power of the class of legal-persons to whom it is directed.
[If you back it into a corner, government does and is forced to admit this, but claims that it is irrelevant because the result is the same either way. Government insists that people would not care if they knew that they are being compelled to destroy their purchasing power, so as to accommodate stock-price-gains on Bay Street for the property-owning-class. That is how they control "consumer" price inflation - by destroying "consumer" working capital.]
On the theme of "Big Picture," my next piece will be about how it was Papa Trudeau who actually go the ball rolling for countries to join in on the fabricated global Climate Scam / Satanic depopulation & looting ideology cult. Stay tuned.
I did not realize Canada sold out to the central bankers fraud so late in our history. 1974. Wow. I also read somewhere that the CRA is part of the. BIS. tax collection is so effective because so much of a countries dollars are swept away by the central bankers. All while the country increasingly falls apart and inflation ensures an ever increasing pot of money for central bankers. What a scam. One I think countries have attempted to fight off for centuries.
We're likely entering the Pollievre era, where we could experience a severe contraction of the money supply. When so much money is going is going out the back door, from our economy into the hands of the foreign banks, a struggling economy has to increase the circulating supply of currency just to avoid a stark Depression.
I doubt that Pollievre will start using the BoC as it was intended. And then after four years of economic starvation the NDP can step in with guaranteed income.
Thank you Dan for presenting this. In the year 2000 Stats Can published a little factoid about the federal debt. The factoid was that since 1867 until 2000, Canada had 'borrowed' $1 for every $16 it had paid back. The period from 1936 - 1974 being a time of nation building and Canada's modernization through the near 0% loans to municipalities.
But by 1971 there was a shift in mindset of the ruling oligarchs who wanted to de-industrialize and union bust the manufacturing base of the West. Canada was far too successful for such a small population, and set a bad example for emerging nations, so it had to regress financially, it had to globalize it's money supply.
Thank you Gwyneth. Please don't give me too much credit; for, I was merely re-compiling & presenting existing information based off the excellent work of others.
It is the effort you put into everything you write, compile, research, organize, think, pursue... and if you build upon the shoulders of giants, is that not worth credit? It is certainly worth my thanks.
Hi Dan! Thank you very much for the article and content as I have had much connection with the subject matter over the years.
What follows, however, reflects an approach that simplifies much of the material. This is a brief excerpt from the introduction to a section on, among other things, how the nominal money system and the nominal tax system interact. It's a different perspective but let me know if anyone wants to see more and I will post some more.
___
[Reader comment on TPM comment concerning concealed inflationary effects of concealed credit-card fees, and of interest generally]:
One wonders if it would be meaningful to think more in terms of credit potentiality than money supply when reckoning the impact of expected interest payments. As I understand it, revenue from interest income increases enterprise value, which increases the capacity to carry debt. Certainly somewhere in the transaction is usurpation of power, for debt is used to underwrite all manner of mad and predatory claims in market economies.
[TPM Answer (with typo / corrections, minor additions / clarifications, and footnotes)]:
What you are describing is a feedback-loop, and you are correct on all counts.
Real-estate values / prices are the primary sponge that soaks up systemic credit / money-supply inflation on behalf of the property-owning class. Enterprise / business assets are currently a close second - and / but, critically, the real-estate assets are themselves ever more increasingly owned by the corporate / enterprise assets. Ultimately (and right soon) all real-estate / real-estate-titles will be (openly) owned as corporate assets.
The sine qua non or one essential element of the private nominal banking system is the systemic interminability of essentially half of all financial liabilities, as and when they are created and issued. Once a (net) legal-debt is created in the form of a deposit-liability (to the credit-financed seller of a property), it tends to persist forever (and be absorbed into the general increase in real-estate and other real-asset values and prices).
In a fiat-money system no debt is ever paid but only settled or discharged, meaning that it is either off-set (e.g., nominal payment from another account at the same institution or another / common clearinghouse-member), or legally assigned to some other outside legal entity (e.g. to or through a foreign bank) (and / but balanced by an on-average equal amount coming in from those outside but otherwise connected foreign-nodes of the same global system).
This means that the only way (net) deposit-liability-debt-money is destroyed is through bankruptcy of or within the private institutional structure, or by nominal / pretended taxation (in off-set (mutual annihilation) of artificial tax-liabilities created by the taxation Acts). Once it is realized that nominal taxation is incapable of raising money for government, and is the pure targeted destruction / razing of the financial capacity of the class of legal-persons to whom it is directed, the whole rotten system comes into a wonderfully sharp focus.
Public Burning-Pits
Assume that the Minister of National Revenue were to call a press conference to announce a new administrative program for nominal taxation in Canada.
Under the new program all nominal taxpayers are required to withdraw the amount of their tax liabilities in cash, and then report to new facilities called “Public Burning Pits”. Upon arrival at a Public Burning Pit, the cash is recorded and verified by Canada Revenue Agency (CRA) as to its genuineness and amount. The nominal taxpayer is then required to throw their cash into the Public Burning Pit and watch it burn.
According to the Minister the new program is a function of having amended the Income Tax Act to simplify its essential and material provisions. Henceforth, if someone commits the offence of working to earn $100,000, for example, then they are punished for the offence by reporting to the Public Burning Pits where they are required to burn $30,000 from their earnings.
If the government of Canada were to institute such a program, then what fundamental change would it have to make to the existing accounting system?
None whatsoever.
Taxation as we know it does not raise money for government - its sole purpose and function is the targeted destruction or razing of purchasing-power of the class of legal-persons to whom it is directed.
[If you back it into a corner, government does and is forced to admit this, but claims that it is irrelevant because the result is the same either way. Government insists that people would not care if they knew that they are being compelled to destroy their purchasing power, so as to accommodate stock-price-gains on Bay Street for the property-owning-class. That is how they control "consumer" price inflation - by destroying "consumer" working capital.]
Good-Going bringing this to light Dan!
We must not forget how the pieces of the Big ( Canadian Banking ) Picture came together. 👍🏻👍🏻
Bring the Light Brother! 🍁
On the theme of "Big Picture," my next piece will be about how it was Papa Trudeau who actually go the ball rolling for countries to join in on the fabricated global Climate Scam / Satanic depopulation & looting ideology cult. Stay tuned.
I did not realize Canada sold out to the central bankers fraud so late in our history. 1974. Wow. I also read somewhere that the CRA is part of the. BIS. tax collection is so effective because so much of a countries dollars are swept away by the central bankers. All while the country increasingly falls apart and inflation ensures an ever increasing pot of money for central bankers. What a scam. One I think countries have attempted to fight off for centuries.
Kittykat, short of some kind of revolution by the masses I don't know what it will take to even just inform them about these crimes. God help us.
We're likely entering the Pollievre era, where we could experience a severe contraction of the money supply. When so much money is going is going out the back door, from our economy into the hands of the foreign banks, a struggling economy has to increase the circulating supply of currency just to avoid a stark Depression.
I doubt that Pollievre will start using the BoC as it was intended. And then after four years of economic starvation the NDP can step in with guaranteed income.
Thank you Dan for presenting this. In the year 2000 Stats Can published a little factoid about the federal debt. The factoid was that since 1867 until 2000, Canada had 'borrowed' $1 for every $16 it had paid back. The period from 1936 - 1974 being a time of nation building and Canada's modernization through the near 0% loans to municipalities.
But by 1971 there was a shift in mindset of the ruling oligarchs who wanted to de-industrialize and union bust the manufacturing base of the West. Canada was far too successful for such a small population, and set a bad example for emerging nations, so it had to regress financially, it had to globalize it's money supply.
Thank you for the spot on comment and stat. This is so true.
Stellar journalism backed up by exceptional research. God save us all.
Thank you Gwyneth. Please don't give me too much credit; for, I was merely re-compiling & presenting existing information based off the excellent work of others.
It is the effort you put into everything you write, compile, research, organize, think, pursue... and if you build upon the shoulders of giants, is that not worth credit? It is certainly worth my thanks.
Excellent!