The Canadian central bank, the Bank of Canada is part of the central banking cartel, which is connected to the World Bank, IMF and other globalist institutions.
The Canadian central bank is unelected, and yet it has significant influence over the Canadian economy through its control of the money supply, interest rates, and purchase of securities.
In 1971, the public lending right shifted from the national Bank of Canada, which was in service of the Canadian people via funding of infrastructure, to the central banks. Since 1971, there has been an over 3,000 percent increase in the money supply and a corresponding 500 percent plus increase in inflation.
The increase money supply is a direct tax on the Canadian people by devaluing the Canadian dollar, and thereby increasing the cost of goods and services. Seniors who depend on interest from their savings are particularly affected by the money supply.
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment. Monetary economics provides insight into how to craft optimal monetary policy. Monetary policy is referred to as either being expansion or contraction, where an expansion policy increases the total supply of money in the economy more rapidly than usual, and contraction policy expands the money supply more slowly than usual, or even shrinks it. Expansionary policy is traditionally used to combat unemployment in a recession by lowering interest rates in the hopes that more accessible credit will entice businesses to expand. Contraction policy is intended to slow inflation in order to avoid the resulting distortions and deterioration of asset values.
The NCA will take a similar stance regarding monetary policy as that currently in place by the Canadian federal government and will utilize similar measures as indicated below with the exception of the role of the Bank of Canada:
● establish an independent role for the Bank of Canada, whereby it functions with complete independence from political influence; an independent citizen committee comprised of financial professional from all regions of Canada will determine the Board of Directors for the Bank of Canada. Instead of the Bank being tied to political ideological agendas, the Bank will serve the best interests of the Canadian people
● authorize the Bank of Canada to pay off all federal debt that is owned to commercial banks and banking institutions both domestic and international. The debt incurred by the Bank of Canada will be charged to the Canadian people at zero percent interest
● restore the 1934 Bank of Canada Act with amendments to Act so that the Bank of Canada is independent of the federal government, national in scope (1938 amendment of the Act), and in complete service of the Canadian people, transparent to the Canadian people, and the Bank of Canada has exclusive public lending right
● encourage the amended Bank of Canada to buy silver and gold reserves to replace fiat currencies as backing of the Canadian currency
● rescind all legislation that is in contradiction of the amended 1934 Bank of Canada Act
● cease all federal loans with commercial banks
● establishment mechanisms to protect Canadian people who make deposits in banks from any bank recapitalization, and the Canadian people would not be subject to the bail-in regime
● legislate mandatory federal balanced budgets as one way to deal with growing massive debt
● establish an aggressive pay back plan of the federal debt that is owed to the Bank of Canada, in order to pay off the debt and reduce inflationary pressures
● review mortgage regulations for fair across-the-board competition in order to ensure the lowest consumer mortgage cost; do not use Bank of Canada rate as the benchmark; rather use a more moderate rate between the Bank of Canada posted rate and the current contract mortgage rate; allow for refinances to be included in portfolio insurance; consult all the stakeholders on mortgage regulations
● inflation and price level targeting: The overnight debt rate held by the Bank of Canada is the primary driver behind these monetary policies, and the NCA will consult with the Bank of Canada regarding the level of the overnight debt rate to ensure that the Consumer Price Index (CPI) and other inflationary indices are held at the appropriate long-term rate of between 1% and 3% per annum
● monetary aggregates: The Bank of Canada and the Canadian Parliament have direct control over the growth in the money supply in Canada. To ensure that unemployment, inflation, and other macroeconomic factors are held in equilibrium over the long-run, the NCA will consult with the Bank of Canada and other federal political parties to ensure that the overall well-being of the Canadian people comes first. The amount of money supplied in the economy will be approved monthly by a consortium of elected officials currently on the Board of the Bank of Canada to ensure that the interests of the people are being presented and upheld, and instead of the current partisan appointed Board by the Prime Minister. This report will also be presented to the Canadian public via an effective medium to ensure that the decisions made by the Bank of Canada are transparent to the public they are serving
● foreign exchange: The NCA will consult with the Bank of Canada on a continuous basis to ensure that any matters of foreign exchange policy do not detriment the citizens of Canada by enhancing the lives or economies of foreign countries before enhancing the lives of Canadian citizens or the economy of Canada
The National Citizens Alliance is concerned about the overall well-being of the Canadian people; therefore, the NCA will approach these complex issues of taxation, fiscal, and monetary policies on a semi-annual basis to ensure that the well-being of the people are being met from a financial standpoint.
Furthermore, all items under each of the policies noted above will be publicly presented on a semi-annual basis to the public to ensure transparency between the Government of Canada and the people residing within Canada. This will ensure that the Canadian public is aware of the policies being undertaken with the Canadian public’s money.
Accumulated different types of penalties, interest and service charges must have an upset value, which must not exceed 100 percent the original assessed taxes for both individuals and corporations.
The NCA encourages the majority of Canadians to be involved and active with Canadian taxation, monetary, and fiscal policies, which is considered one of most important policy for the country and its people. Increasing government efficiency and effectiveness while reducing politicians’ and all levels of government waste will positively impact fiscal policies and consequently will reduce the national debt.
The NCA welcomes feedback on its policies. Please send policy feedback to email@example.com