Council of Canadians

Doug Henwood dhenwood at panix.com
Mon Apr 10 10:30:21 PDT 2000


kenneth.mackendrick at utoronto.ca wrote:


>Ok - what would the problem be for the Bank of Canada to buy up the loans from
>private institutions? Then the "public" debt would be owed to "public" bank?
>This is done for RRSP's (say, when you use your RRSP to purchase a
>house) - why
>can't a (theoretically democratic) national bank do the same thing? If the gov
>needs money, it's just stupid to go to a private institution.

And where does the B of C get the money from? If it's from the printing press, then you're playing inflationary games. Might work some stimulative magic in the short run, but not for long. Why not just tax rich people?

Doug



More information about the lbo-talk mailing list