It’s not hyperbole but objective fact: The greatest scam in the history of the world is the privatization of the power to create money. In a democracy, the power to create money belongs to the people, and the money they create can be spent into the economy, by the people’s government, for the public good.
In the US since 1913, in Canada since 1974, government has to borrow from private banks and pay interest to private banks in order to do the things it has a Constitutional right to do with its own sovereignty, using its own created money.
Last year, the US government borrowed $600 billion from private banks and paid another $220 billion in interest to private banks. That was part of one year’s haul. In the US, all talk of nationalizing the Federal Reserve has been swept aside into the Ron Paul wing. The Fed makes profit for private stockholders, and is no more “federal” than Federal Express.
In Canada, one brave lawyer, acting on his own time using his own funds, is suing the central government to undo privatization of the Bank of Canada. Rocco Galati has a lot of work to do, going over the heads of the (private) broadcast networks and print media to educate the public about what he is doing on their behalf.