COMER — Committee on Monetary and Economic Reform
neighbourhood: Rosedale
address: 27 Sherbourne Street North, Suite 1 (map)
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.
Phone: 416-924-3964

COMER put's together a monthly journal looking at ways to improve our economic policies.

Their primary concern is directed at the practice of governments borrowing money from private banks.

"Crucial to our governmental debt problems is the fact that our governments at all levels borrow from private banks and from other private money-lenders, and pay interest on these debts. Each year governments across Canada presently pay some $60 billion in interest on their debts, and as these debts increase, with interest rates probably rising, this enormous annual burden for taxpayers will increase. But this interest expense is not necessary.

Through our publicly owned Bank of Canada, which was established in 1935, the federal government has the power to borrow money in huge quantities essentially interest-free, and to make such funds available not only for its own use, but also for provincial and municipal expenditures. Such borrowing helped Canada to get out of the Great Depression, and to finance its participation in World War II. Continuance of this practice until about 1975 played a key role in creating Canada's post-war prosperity and in making possible its social programs."

This topic is further elaborated in this video by snowshoefilms:

It's possible to download theirs journals as a PDF from the website or order printed versions.

There was also an interesting article written in the star about William Krehm, the co-founder of the committee.

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