THE LOVE OF MONEY IS THE ROOT OF ALL EVIL

I Timothy 6 : 10

There are three main reasons why people love money:

  1. Money will buy nearly every desire.
  2. Money makes money, without work, namely through charging interest.
  3. Money is POWER and prestige - power over the lives of your fellow men.
CANADA'S TOTAL DEBT - BOTH PUBLIC & PRIVATE
Federal 1979 $98,461,000,000 1994 $519,845,000,000 *1
Provincial and Local Gov't. 1978 $46,875,000,000 1993 $375,852,000,000 *2
Corporation 1978 $421,293,000,000 1992 $1,554,248,000,000 *3
SUBTOTAL                 $566,629,000,000 $2,449,945,000,000
Consumers Credit 1979 $ 37,661,000,000 1993 $100,350,000,000 *4
Residential Mortgages 1980 $57,950,000,000 1992 $288,644,000,000 *5
TOTAL                 $662,240,000,000
$2,838,939,000,000

What do these figures mean to you?

You may have your house, farm, or business paid for and have no consumer loan. But, your share of the $519,845,000,000 federal, and $375,852,000,000 provincial and local government debt, plus the $1,554,248,000,000 corporation debt (on which you pay the interest when you buy their production), comes to a total debt of $2,449,945,000,000 or $84,292 per capita or an interest payment at 10% of $8,429 per person and $33,716 for a family of four. You say: "IMPOSSIBLE!!! - we could not afford to pay this amount of interest!!!" You are so right. We borrow the money to pay it - and this further increases the debt! DEFICITS! DEFICITS! DEFICITS!

* source - *1 Doomsday Clock, 1994 *2 Fraser Institute, 1994
*3 Fraser Institute, 1994 *4 Bank of Canada Review
*5 Bank of Canada Review

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