At the Bank of Canada's own website they indicate that they started out as a private corporation, but became a Crown Corporation in 1938. While a Crown Corporation functions internally in many of the same ways as a private corporation, there are significant differences between the two. Canada Post is also a Crown Corporation.

hey freedom_fighter... welcome to the forums....

do you have links that talk about the fact that the Bank of Canada is a private corporation?

I'm interested in that.

As per your other ideas... well.. everybody has different ideas.

Oh no, not another "I know I spent the money, but it isn't really debt so I don't actually owe anyone anything" nutjob...

"We" being you and all the voices in your head...?

Wait...you consider post-secondary education (college/university) to be 'government indoctorination programs'?

Yeah, and that's where I dismiss you as a bit of a crackpot.

And the Bank of Canada is a Crown Corporation and has been since 1938. I suggest you look up the meaning of Crown Corporation in Canada, provided you don't consider definitions to be part of a government indoctorination program.

Government Indoctorination Program.....HA!

This is a reply in general to your thread.
First of all Angella... Lol we are all very impressed with your participation in the government indoctrination program (higher education centers). You are parroting the info very well.

But it may interest you to know the institution you so lovingly refer to as the Bank of Canada. Is not a government office.
They are a private corporation. With the express duty to their share holders. Not the Canadian people.
Now i know you think you understand how the financial system works. But I will give you this little example to noodle on.and maybe you will understand how they enslave you, while you look up to them as the great regulator of the economy.

So lets just say we are at the creation of the monetary system . And we have a population of say ten people. ( I know if is laughingly small but just trying to keep it simple) Now the bank puts $100 into circulation. Lets say everybody gets $10. Now the $100 has a 10% interest fee. Now all ten people have to pay back $11. impossible most of those people are going to starve and still owe the money they have no chance of paying back. Hmmm sound familiar..

Now do you see how fiat currency ( Fixed Interest At Treasury) is a tyrannical system. And lets we forget the sister of fiat currency is Fractional Reserve Banking principles. I would be happy to have a discussion about that if you are unfamiliar.

AmosNandy,

Here's the bottom line...
Enjoy your ethereal logic all you want.
It sounds like you use credit services, and other services in this country that are of this country's law.

If that's the case, you're a complete hypocrit.
If you're really believe all you fancy beliefs, then don't use any type of service that requires any type of use of the currency system that you so desperately disagree with.

Let's be real... you're either a hypocrit or you're not.!!

If you demonstrate a practical way that you've been using your ethereal money system in Canada, I would be interested to listen. You're not, so I'm not.

I don't want to seem critical, however, I would rather talk to a practising believer. Not somebody who spews impossible ethereal ideas without practicing themselves.

The end

So...

if you acknowledge that it being in the bank, rather than in "cash" form does not negate its existence.

if you acknowledge that it is simply a means of facilitating barter... in other words, obtaining goods and services;

if, through the attainment of that loan, Mr. Dempsey received either cash or goods and services, as was the intent;

then how is it that Mr. Dempsey's premise that the cash doesn't exist therefore he doesn't actually owe the banks any money hold true?

Further, his claim that the bank is not harmed is false. They pay interest to the people who give them the money to hold. They pay even higher interest to the bank of Canada for the funds they do not hold in their facility. They are, therefore, damaged by his lack of payment.

Your "litigation specialist" clearly doesn't understand the nature of contracts as he doesn't seem to realize that an "agreement" IS a "contract". Further, his credit must be shot, cause he doesn't realize that credit card applications state that, should you be approved for a card you agree to abide by the terms and conditions. The terms and conditions are provided to you with the card, along with the stipulation that by signing and using the card you requested and they sent in response to that request, you are agreeing to abide by the terms and conditions provided. Further he doesn't realize that many of the credit card slips you sign also contain a promise to pay the card issuer.

He doesn't realize that loans contracts are signed by you and the lending officer acting as an authorized agent for the bank.

Your "litigation specialist" doesn't realize that contracts are generally written, not because oral

"agreements" are not legal contracts, but because written contracts make it easier to prove the terms and conditions of the contract.

You two sound like a comedy routine. I havent been the one calling names Raymond.

{{Money was created as a means to make barter easier. It's as simple of that...}} Well duh! Was that some of the logic that you were trying to wow me with?

Leaving money in the bank clearly does not negate it's existence. Nor does it prove it's existence.

{{Now... if your and Mr. Dempsy's theory held true, there would be a huge glut of surplus money on the marketplace and the value of our Canadian dollar would come crashing down}}

What do you suppose is the cause of inflation? And yes, fiat money comes with one interesting effect on nations that use it. Study monetary history, well a little past the barter system and you will see.

It's right in front of your eyes, an increase of money that has no value of it's own has one incontrivertible effect.

Logic is fine only if you are in possession of all the facts. So youre welcome to your little delusions. I stand by the assertions of the original post and posted it because I thought it might help someone.

Clearly there is no point in argueing about it. Ya'll can say what ya want about me. I leave it to you to own your own actions.

Nah, trust me, they just get mad and call you names because, sadly, that's all they're capable of.

Ray