Federally, the debt has expanded to $776 billion plus as of July 10, 2020. When Trudeau and the Liberal Party of Canada formed government in 2015, the federal debt was $612 billion plus. Since April 20, 1968, 98.13% of the total federal debt has been added, with the so-called Conservative Party adding since 1968 59.6% of the total federal debt, and the Liberal Party adding 38.53% of the total federal debt. The Trudeau Regime has been piling on the federal debt with the lockdown, and the so-called Conservative Party allowed the Trudeau Regime unlimited spending and borrowing with minimal oversight until September 30, 2020. Since January 11, 2020, the Trudeau Regime has added $70 billion to the federal debt, and it is projected to add $343 billion in total for 2020 due to the lockdown.
With a prime interest rate of 2.45%, the debt service payments will be minimized. However, these payments are still around $30 billion a year and growing as the debt grows. These payments mean a reducing pie of services and benefits for the Canadian people and/or higher taxation.
Eventually this borrowed money will have to be paid back.
National Citizens Alliance is concerned about the worsening financial situation of Canada and its mismanagement by the establishment parties. The economic situation turned for the worse in 1974, when the public lending right shifted from the Bank of Canada to central banks, creating a fiat central banking system (paper currency the central banking cabal prints is legal tender for making financial transaction). Since 1974, there has been an over 800% increase in the money supply, adding to inflation and helping to create a financial bubble. The Canadian fiat central system is backed by other fiat currencies most notably the U.S.A. dollar, making it more vulnerable to collapse. Previously up to April 9, 1933, the Canadian dollar was backed by the gold standard.
National Citizens Alliance supports creating a national Bank of Canada in full service of the Canadian people and with sole authorization for printing of the Canadian dollar, and building up the country’s gold reserve to provide financial stability (which has been sold off by the establishment parties) and help prevent financial mismanagement with the intent to return to the gold standard.
Moreover, we oppose guaranteed income (form of government control and extreme socialism via UN Agenda 2030) and national and even global digitized currency (security and privacy concerns and government control).