Dear Editor and Ted Arnott,
In your recent newsletter “Keeping Touch Fall 2004”, you refer to this province’s Debt stating that the net provincial debt is also expected to climb by another 20 billion to 289 billion. The debt problem in Ontario and Canada did not come into existence by accident. They are the result of fundamental structural problems with the financial system.
I recommend all Canadians read the Hon. Paul T. Hellyer latest book “The Money Mafia A World IN Crisis” and read section “What to do” and “A New Social Contract between the government and the people of Canada”.
Hellyer writes. “In Canada between the year of 1939 and 1974 we used Government created money. The bank of Canada created very large sums of money for zero cost money for government to spend into circulation. Canadians own the patent to create money and the banks, the banks have been given a license from the government to print money”. He States we need “infusion of government created debt free money ‘GMC’ to dilute the debt.
The Hon Paul T Hellyer will be coming to Guelph December 6th at 1.00pm to 300pm at the Bookshelf to speak about Monetary reform.
Patrick Donoghue