Editor:
When I see the dispute between the B.C. government and the B.C. teachers, I realize that I must respond in this open letter and encourage all other B.C. cities to respond, just as in a referendum.
The real issue here is the province’s net-zero wage increase policy, which has been in effect since 2009. Do you agree with this? Yes? No?
I agree with it, at least until someone comes up with a better policy. B.C. has to balance its budget and get its debt paid off.
B.C. cannot continue in debt, and especially in paying debt interest. Interest creates inflation because it requires more and more money to be borrowed to pay this interest.
Debt is also bad because it makes the borrower a slave to the lender.
Right now, the whole planet is in stagnation because many people realize something is wrong, and that even low interest rates do not cut it.
We need to have a whole new money system in Canada where money is not created into existence as an interest bearing debt by the private banks of Canada but rather is created into existence by the public central Bank of Canada (BOC), interest free and debt free as dividends to Canadians and interest free and debt free for the production of necessary public goods and services.
The BOC gives its profits to the GOC, while private banks do not.
The amount of money created into existence must be done by calculation in relation to the production of goods and services so that there is no inflation or deflation.
Albert Opstad, Surrey