Child sums up woes in Canadian banking system

Have you ever wondered why Canada is in debt? This, and more, is what a 12-year-old from Cambridge, Ont., asked on YouTube.

To the editor:

Have you ever wondered why Canada is in debt? This, and more, is what 12-year-old Victoria Grant, of Cambridge, Ont., asked on a YouTube that went viral. (http://www.cbc.ca/news/offbeat/story/2012/05/16/victoria-grant-banking-canada.html).

Surely, this was a well-rehearsed video, but Victoria explained in six minutes what I’ve known for several decades but found only a limited audience.

A few weeks ago, five university students in Kelowna, third and fourth year students, pretended and lived like they were homeless on campus. We talked, and I gave each of them four pages of thought-provoking material. I later asked one lady what she knew about financial matters, and where money comes from—(she said she knew) nothing. No email or questions from anyone.

At about the same time, before Victoria’s video went viral, I’ve sent a video from Paul Hellyer on money matters, to a UBCO philosophy professor, who responded: “I don’t have the expertise to evaluate the proposal of borrowing from the federal bank, but I’ll ask some people who do.”

Why is there such ignorance, of professors and students alike, on this most important subject?

Most crimes and miseries have their origin in the lack of money and purchasing power that is artificially created.

If people were educated and morally empowered and had a guaranteed income, nobody would steal copper wire from lampposts, or worse, from a 100,000-volt power pole and get killed by electrocution.

Why would thieves in England steal a 10-ton bridge and sell it for scrap iron to a dealer, showing forged papers to police who directed traffic? In England also, thieves stole the lead roofing from a church and aluminium ramps for the disabled.

On the flipside, why is there nothing that can be done to stop an Australian billionaire from building a second Titanic, which is wasting precious irreplaceable resources, just because he was lucky and has money?

I think Victoria Grant would understand, and perhaps her classmates too, that Canada has no need to spend $20 billion on fighter jets and, with our financial house in order, people would not have to work and supply the war industry to kill innocent human beings, half way around the world, and destroying our planet and her future in the process.

My best wishes to you, Victoria.

Gunther Ostermann,

Kelowna

Just Posted

Kelowna Boat Show highlights abandoned boat program

The 24th annual Kelowna Boat Show hits shores April 27 and 28.

West Kelowna fire under control

A fire broke out just above Bear Creek Provincial Park Monday

Kelowna’s Korczak, Canada en route to U18 quarter-finals

Kaedan Korczak and Team Canada play Latvia Thursday

Kelowna driver searches for man who allegedly tried to run him off the road

The driver said he just missed a biker trying to avoid a collision

Social media flooded with love for woman found dead on Kelowna beach

“We lost a sister. Because that is what we are it is a sisterhood and I can’t help but feel anything but sadness.”

VIDEO: Okanagan fire victim Amy Hansen speaks out on the loss of her four pets

A gofundme page has been started for Hansen, with $1,140 raised of a $5000 goal to help her rebuild

Okanagan firefighter steps up to challenge

Andrew Haak will be one of hundreds of firefighters taking part in the Firefighter Stairclimb Challenge in Calgary on May 5

SPCA investigating hen cull at Shuswap egg farm

Egg farm regulator says they are confident cull at was done properly

‘Cutthroat’ sport of wine tasting happening now in the Okanagan

BC Tasting Games are underway with competitions in three Okanagan communities.

Okanagan Rail Trail a popular place

Thousands pack North Okanagan section over long weekend

B.C. men challenge constitutionality of Canada’s secret no-fly list

Parvkar Singh Dulai says he received a “denial of boarding” notification under the no-fly program last May 17

Murder on B.C. property didn’t need to be disclosed before sale, court rules

Buyer had tried to break contract after learning a man with ties to crime had been murdered there

Kelowna pimp faces 4 year sentence

In court the details of how Simon Rypiak lured 4 women into prostitution revealed

B.C.’s largest Vaisakhi festival target of threatening Facebook post: Surrey RCMP

Police say they are investigating the posts on Facebook, after local MLA forwarded screenshots

Most Read