This is an excellent article. I would like to add my own graph and offer a related question (this will not be news to you James).

WTF Happened in Canada in 1974?

https://substack.com/@gavinmounsey/note/c-242225460

Between 1939 and 1974 the federal government borrowed extensively from its own central bank. That made its debt effectively interest-free, since the government owned the bank and got the benefit of any interest. But following 1974 came a dramatic change.

In 1974 the Bank for International Settlements (the bank of central bankers) formed the Basel Committee to ostensibly establish global monetary and financial stability. Canada, i.e., the Pierre Trudeau Liberals, joined in the deliberations. The Basel Committee’s solution to the “stagflation” problem of that time was to encourage governments to borrow from private banks, that charged interest, and end the practice of borrowing interest-free from their own publicly owned banks. Their argument was that publicly owned banks inflate the money supply and prices, whereas chartered banks supposedly only recycle pre-existing money. What they purposefully suppressed was that private banks create the money they lend just as public banks do. And as banking specialist Ellen Brown states: “The difference is simply that a publicly-owned bank returns the interest to the government and the community, while a privately-owned bank siphons the interest into its capital account, to be reinvested at further interest, progressively drawing money out of the productive economy.”

Successive Canadian governments since Trudeau number 1 have surrendered sovereign control over monetary policies and money supply to the beliefs of the international private bankers and investors. As a result, Canadians have been saddled with government debt at all levels – debt that has needlessly risen exponentially since 1974. (see attached pic in my note linked above for reference)

The debt curve that began its exponential rise in 1974 tilted toward the vertical in 1981, when interest rates were raised by the U.S. Federal Reserve to 20%. At 20% compounded annually, debt doubles in less than four years. Canadian rates went as high as 22% during that period. Canada has now paid over a trillion dollars in interest on its federal and provincial debt—at least more than twice the actual debt itself.

Since our bankster subservient politicians sold us out to the BIS, a large portion of the income tax has been used to enforce debt slavery here in Canada. Recent years have even seen an increase to over 40% (with a projection of 46% this year) of the personal income tax base being offered on the sacrificial alter by our oligarch subservient government to the parasites at the BIS (through their middle men in the Bank Of Canada).

Time to exit and build (and plant community food forests) my friends