Daniel Tencer • Huffington Post Canada • May 15, 2012
Twelve-year-old Victoria Grant of Cambridge, Ontario, has become an overnight Internet sensation after a video of her giving a scathing criticism of Canada’s banking industry went viral.
Grant has been giving a rehearsed speech to audiences at conferences about how “the banks and the government have colluded to financially enslave the people of Canada.”
Her father has been posting the videos to YouTube. One such video, of an appearance by the youthful Grant at a Public Banking Institute conference in Philadelphia, got picked up by various blogs over the past few days.
…The core of the idea is that Canadian taxpayers are being ripped off by the banks and the government because elected officials are unnecessarily borrowing money from the private banks at commercial interest rates.
Until the 1970s, the government borrowed directly from the Bank of Canada, which is a Crown corporation and issues Canada’s currency. But in recent decades, it has been borrowing from private banks instead. Critics say that the government is unnecessarily paying extra in interest rates to cover private banks’ profit margins.
Read the article here.
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