Friday, July 12, 2024

A Senior’s View of the Upcoming Election

Letter to the Editor

The Editor,

Just a senior’s view about the upcoming election.

Every issue being raised/debated comes down to finances.

What we have in this country is not a spending problem, but a revenue problem.

I am old enough to remember how we used to do business in Canada, before we had FTA, NAFTA, and whatever else poses as free trade…

The Dominion of Canada financed WWII through the Bank of Canada and Victory/War Bonds bought by Canadian patriots. There was virtually no foreign debt when the war ended.

Building our now aging infrastructure by giving returning soldiers jobs was again financed by the Bank of Canada and Canada Savings Bonds. Little, if any debt owed to foreigners.

It was not until Mulroney ‘negotiated’ FTA , and Chretien implemented it, after vociferously opposing it in the election, but then did a 180 and implemented it after winning a majority.

Subsequent Con/Lib governments neutered the Bank of Canada as the Canadian provider of infrastructure financing and we are now faced with paying usurious interest payments to foreign money lenders, creating ever growing foreign debt that should be held by the Bank of Canada, a debt owed to ourselves.

However, there is no one talking about WHY we are in such dire financial straits.

Just ask the politicians WHY we, the average Canadian , can no longer invest in our own country by buying Canada Savings Bonds guaranteed by the Bank of Canada and the tremendous wealth of natural resources we used to own…


Karl Braeker, Meaford

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