BILL MORNEAU'S BOGUS ARGUMENT ON INFLATION & DECEITFUL RESPONSE TO PARLIAMENT

The Canadian Finance Minister Bill Morneau deceitfully claims and argues that the government of Canada cannot borrow money from its own public Central Bank (i.e. the Bank of Canada) for productive government expenditures such as "human capital expenditures" (i.e. health, education, etc) and infrastructure development because it would result in "excessive inflation..." (Read Hon. Paul Hellyer's Open Letter to Bill Morneau in response to Bill Morneau's deceitful response on the subject to a Parliamentary petition.)

However, classic economic law clearly states that if economic growth matches the growth of the money supply, inflation should not occur ceteris paribus (when all else is equal). In other words, when the aggregate money supply is equal to the real goods and services produced in an economy, there is no resulting inflation, whether the money is created by a public bank or private banks.

Moreover, I have analyzed the official annual inflation data from Statistics Canada from 1938-2014:

(a) From 1938 to 1974: When the Canadian government borrowed all of its money from the Bank of Canada, the average annual inflation rate was 3,42%.

(b) From 1974 to 2014: After the Bank of Canada joined the private central banking cartel (Bank for International Settlement/BIS) and the Canadian government began borrowing fiat money created ex nihilo (out of nothing) from private banks and from the private financial sector at exorbitant compounded interest rates, the average annual inflation rate was 4,19% (+23% higher). 

Therefore, Bill Morneau's deceitful excessive inflationary claims and bogus argument is contradicted by the historical inflationary record based on official inflationary data and by the empirical evidence.

Also, read the following insightful article that debunks the incessantly repeated bogus, deceitful and fraudulent claims of the private banking industry and Bill Morneau regarding inflation using the Bank of Canada as an example.

Worse, as a direct result of borrowing fiat "money" created ex-nihilo from private banks and the private financial sector at exorbitant compounded interest rates, the Canadian so-called "public debt" has since exponentially increased from $24 billion in 1974 to over $600 billion in 2014.

Furthermore, according to official statistics published by the Canadian Ministry of Finance, Canadian taxpayers paid $28.2 billion in compounded interest on the so-called "public debt" in 2014 alone, representing 10% of total government expenditure for 2014 ($271.7 billion), exceeding health and other social expenditures, employment insurance, children's benefits, Public Safety and National Defense.

As the late Honourable Prime Minister of Canada William Lyon Mackenzie King said and warned on the dangers of surrendering and granting a monopoly of the Canadian money supply to private international central bankers:

“Until the control and the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of sovereignty of Parliament and democracy is idle and futile. Once a nation parts with the control of its currency and credit, it matters not who makes the nation's laws. Usury, once in control, will wreck any nation.”

Arya Vrilya