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Much Ado about 1974: The Bank of Canada in the 70s

By Adam Smith, 21st Century

This paper is dedicated to John Monroe and Michael Karp, without whose exposing of my ignorance on the monetary system I would not have found impetus to delve as deeply as I have.

Ah the Bank and Canada and 1974!  I don’t think there’s a central bank in the world with more wild mythology surrounding a precise point in time.  I must admit however, were it not for this mythology I would not have found myself motivated to dig as deeply as I have to find the truth. In revealing this truth to others I have been called a government apologist and/or shill, a secret insider of “controlled opposition”, and many other names by ideologues whose conspiracy theorist identity is so wrapped up in the myth that their confirmation bias won’t allow them to accept new facts that belie their prior misinformation. The truth creates a cognitive dissonance their mind cannot accept, the irony being these people spent so much time researching bunk sites for false info but refuse to look elsewhere because the truth doesn’t fit their narrative.

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