1. Chronic problem of high indebtedness, whether government, corporate or household.
2. The corollary: the extraordinary but unrealized potential for a productive and prosperous society.
3. Root of the problem: banks lend only for the motive of profit.
4. Banks do not create the money needed to repay the interest.
5. People at the lowest socio-economic levels struggle to find the money for interest payments.
6. The growth imperative: a structural necessity to expand the money supply.
7. Increasing wealth disparity.
8. Unstable banking system: chronic banking and monetary crises; boom & bust cycles.
9. John Turmel: the mortgage is quite literally a “death wager”.
10. Loan principal paid back is money removed from circulation -- but the banks keep the interest.
11. The fallacy of the “business cycle”.
12. John Turmel: Rising interest rates do not put a damper on inflation, but actually cause it.
13. The institutions have $400B in settlement balances held at the Bank of Canada. They use the interest on that money to engage in speculative investment. This is inflationary, the cause of asset bubbles.
14. Example: 20% of real estate purchases were institutional.
15. The BoC provides a backstop to cover losses by either commercial banks or the federal government.
16. Bernard Liataer: reported levels of forex arbitrage: of $4 trillion daily , only 98% is speculative trade, not for the exchange of goods (2010 figures).
17. Summary: essence of the problem: the financial system is rigged to benefit the FIs. The money creation privilege should be taken away from banks and returned to the people.

RESOURCES
John Turmel video: Big Lie of Economics: Inflationgate Hides Shift B Inflation.
Eulogy for author mentioned: Bernard Lietaer (d. 2019, age 76).