Name

No Global Government

Description

In 1974, Canadian Prime Minister Pierre Trudeau began the policy of borrowing all money from private international banks. He did this at the urging of international bankers to create inextinguishable debt. Google "Pierre Trudeau 1974."

Canada’s federal debt grew between 5% and 10% until 1975 when it began to explode; growing for the next 12 years 20% + per year. It broke $100B in 1981 and $200B in 1985. It broke $300B in 1988, $400B in 1991 and $500B in 1994.

The debt peaked at $562.9B in 1997. Between 2008 and 2015, more than $150B was added back onto the federal debt, leaving it at $612B. Since March 2020, the federal government has borrowed $12B each month from private banks to pay for COVID-19.

Federal debt owed to private banks is $1.9T in 2021.

Canadian taxpayers pay $80B + each year on interest payments on the federal debt.

B = billion
T = trillion

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