Thursday, February 16, 2006

Some Questions For Your Banker

If you're in the banking industry, a teller, a manager, a territory supervisor, please answer the following questions. Take an oath, and then answer them under the possibility of a charge of perjury if you tell a lie. Sign your name, as well as your bank branch - in other words, take responsibility for your answer.

1. Who creates money in Canada, and at what benefit?
2. While the country's municipal, provincial, and federal leaders complain constantly of having no money to do anything with, how is it that the private banks keep reporting profits?
3. What were the profits of your bank in 2005, and where did they come from, i.e. what are the profitable activities of banking?
4. Does it make sense to have private banks such as yours create the money, and if so, why?
5. What would happen if the Bank of Canada began to create all of the money in our Canadian monetary system, and your bank were forced to stop?
6. As there are no securities taken for credit card accounts, i.e. credit is given based purely on a person's perceived ability to repay what is used, along with their promise to do so, how do you justify the right to be the one to create that credit and charge interest for doing so? Why shouldn't people just promise the seller of the service or product that they will pay over time, and give the interest to the seller rather than the bank?
7. Who gave you the right to create money/credit and do they maintain the ability to take that right away?

By Donn Tarris (originally posted in The Tyee
15\2\06 as a response to the article “ Just Don't Call It Funny Money”)

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