icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
2 Jun, 2012 00:50

‘They’re robbing us’: 12-year-old exposes Canada’s banking flaws, goes viral

Economists around the world are struggling to break free of the clutches of the financial crisis but a Canadian girl explains exactly what needs to be done.

Victoria Grant, 12, became an overnight Internet sensation after a video of her slamming Canada’s banks and the government for robbing the people, went viral.“What I’ve discovered is that banks and the government have colluded to financially enslave the people of Canada,” she said at Pubic Banking Institute conference in Philadelphia. In her interview with RT, the child economist expressed her concern that the Canadian government has been borrowing money from private banks and putting the people into debt. “And they are not doing anything about this. So they are just standing by and watching the private banks make us pay compounded interest.”“It has become painfully obvious even for me, a 12-year-old Canadian, that we are being defrauded and robbed by the banking system and a complicit government,” Victoria stated in her speech at the conference. Until the 1970s, the Canadian government borrowed money directly from the Bank of Canada. But in recent decades, it has been borrowing from private banks instead which results in the government paying extra in interest rates to cover private banks’ profit margins.The prodigy’s solution to her country’s financial problems is that the government “should stop borrowing from private banks and start borrowing from the Bank of Canada with little to no interest.” “The people will then pay fair taxes to repay the Bank of Canada. This tax money would in turn get injected back into our economic infrastructure and the debt would be wiped out. Canadians will again prosper with real money as the foundation of our economic structure,” she said. Victoria’s mother, Marcia Grant, principal at the Resurrection Christian Academy, told RT that her daughter becoming an Internet sensation is “quite exciting.” “We never knew when this project started what would happen with this. It’s exciting that we get people talking and doing their own research. Whether they agree or disagree, they are at least listening and exploring.”