This simplification ignores the fact the citizens of one country can invest in the government debt of another country. If you don't see it please check your junk folder. Please try again. Answered March 9, 2018 Canada owes its Superiority Complex to the US. Prime Minister Justin Trudeau congratulates François-Philippe Champagne after he was sworn-in as Minister of Foreign Affairs during a ceremony at Rideau Hall on November 20, 2019 in Ottawa, Canada. One wonders how much of the tax we pay is going straight into these banks pockets? Luxembourg springs to mind. And some oil-rich countries, Norway and Brunei I think, have put aside money now for the day the oil runs out. “Some of these people I haven’t talked to in years,” she says. Turkey, for example, has a big national debt, but it is financed mostly by Turkish savers. Photo by CHRIS WATTIE/AFP via Getty Images, John Ivison: How Canada can resist China's intimidation by teaming up with like-minded allies, Terry Glavin: China proves that in Canada, hostage diplomacy works. can rarely resist the urge to spend it while they?ve got it, almost all countries have a national debt not a natinoal investment fund. but not as much as you might think for all the talk of a third world debt crisis. Money is created on a computer, this is a crime if you are a private citizen but not a banker, and when it is in the system it can be re-lent up to 9 times its original value. The next issue of Posted Newsletter will soon be in your inbox. When you look at the complete lack of meaningful action against banks over the last 200 years the answer becomes apparent. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. The much wider concern is that no-one else in the Trudeau government considered that Champagne’s financial dealings with the Bank of China might be a problem. KITCHENER -- You may be owed hundreds -- or even thousands -- of dollars from the Canadian government. We encountered an issue signing you up. Foreign investors hold about 33 percent of the U.S. government's debt. Even in this age of global capital, most government debt is owed to domestic investors in most of the world. He’s vulnerable. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. The CRA says there are a lot of reasons why the money has not been paid out. He should indicate his intention to do so as soon as possible. “Some were like ‘thank you so much, I’m crying because I found almost $900 that I didn’t know I had.’”. We know the Chinese communist regime is capable of using all kinds of leverage to expand its influence, including “threats and bullying” to intimidate and silence activists in Canada, according to a coalition of human rights groups led by Amnesty International. When you think that the Chancellor has today said that he wants to cut £25 billion more in spending, he could think about saving the interest that we should not have to pay. The top four debtors to the U.S. are all part of the British Commonwealth. The overwhelm- ing majority of this is money leant from the Bank of Cana- da to the govern- ment of Canada. All this started with the Napoleonic wars when the government borrowed money to fund the war. Canada doesnt owe America anything. The minister might also hold his hands up and say that, since he disclosed the details to the ethics commissioner, there are no hidden obligations and he is off the hook. Sign up to receive the daily top stories from the National Post, a division of Postmedia Network Inc. John Ivison: Canada’s most senior diplomat owes China $1.2 million. This advertisement has not loaded yet, but your article continues below. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. “This is money that belongs to Canadians,” says Blondin. Australia. So naturally she shared the good news on social media. We ask you to keep your comments relevant and respectful. A new section on the Canada Revenue Agency's website allows taxpayers to view and collect unpaid cheques. That speaks volumes about the naiveté that has characterized this government’s approach to China since it came to power. Incidentally, trading in those bonds at the time of the Battle of Waterloo made the Rothschild family a fortune and became the major creditor of the UK Govenrment. We are the ones that keep them in that position through our ignorance and subservience. There was an error, please provide a valid email address. even more so than individuals ? Listen to our news podcast, 10/3, on Apple Podcasts. Ashley Gallant checked the website after seeing a post on the TikTok app. The mortgages were arranged on two properties in London, England, in 2009 and 2013, before Champagne entered politics and was working in the U.K. As a temporary resident, he said he was unable to secure a mortgage with a British bank. If you have savings in a bank, for example, some of that money may be invested in government bonds (gilts). Visit our Community Guidelines for more information and details on how to adjust your email settings. man who killed his entire family gets life in prison with no chance of parole for 40 years, Airlines' 'bait-and-switch' strategy lures customers to flights that never take off, Trudeau says he has faith in U.S. vote process, as Trump makes unsubstantiated claims of fraud, Pair of kayakers nearly swallowed by whale, Region giving 3 homes to charity through lottery, Man killed after tree he was cutting falls on him, What it means if Waterloo Region moves into the province's yellow 'protect' tier, Guelph man wakes up to find stranger in his bedroom. The UK pays in excess of £40 billion (in 2013) of interest which comes out of our taxes.

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