Occupy Victoria takes direct aim at money, banking

Occupy Victoria, like its New York City counterpart, aims to bring to light the intrinsic problems with banks lending and reporting money they don’t actually have, said organizer Greg Hill

“Fake” or “imaginary” money used by the world’s banks is making it hard for families to survive, according to the organizers of Victoria’s version of Occupy Wall Street.

Occupy Victoria, like its New York City counterpart, aims to bring to light the intrinsic problems with banks lending and reporting money they don’t actually have, said organizer Greg Hill.

“The fiat-issued money – fake money – put forward by the federal reserve bank in the U.S. has caused the hidden tax of inflation to cause the cost of food to skyrocket,” said Hill, a Saanich resident. “We can’t fix the current system using the same line of thinking we used to create it.”

Hill and Esquimalt resident Josh Steffler have organized Occupy Victoria, which happens at the B.C. legislature Saturday (Oct. 15). They hope people will come out to listen to speeches that touch on why fiat money and fractional reserve banking are spreading the gap between the rich and the rest of the population.

Steffler linked the issues to Victoria-area families asking for a mortgage from a bank.

“Now (the banks) have a hold on people’s real assets and they have to pay back the banks with real money, real work,” he said.

“If you or I tried to do that, we’d be indicted for fraud because we’re not allowed to lend money we don’t have.”

Occupy Wall Street started in New York on Sept. 17 and the concept has spread to cities all over the world.

Budd Hall from the University of Victoria’s faculty of human and social development attended the first meeting of the local event’s organizers.

“Ten days ago we had the first meeting here in Victoria,” Hall said. “I’m a student of social movements and I have not seen a social movement spread this quickly, ever.”

The event runs from 10 a.m. to 1 p.m. and is open to the public.

 

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Scarlet fever reported at Victoria elementary school

Parents advised to look for symptoms of ‘strawberry tongue’ and rash

Saanich dog walkers react to potential review of bylaws allowing off-leash dogs on beaches

Focus should have remained on migratory birds, not on dog behaviour, says Cadboro Bay dog walker

No dogs allowed off-leash at Luxton Fairgrounds in Langford

New sign placed by Metchosin Farmers Institute on Wednesday, Feb. 19

North Saanich’s Deep Cove Market up for sale for almost $1.8 million

Long-time owner Rosemary Scott hopes the public will understand her decision

Council approve temporary storage to extend life of Oak Bay Fire Hall

It’s cute, it’s iconic, but the picturesque Oak Bay Fire Hall is… Continue reading

Protecting privacy key to stopping spread of COVID-19, B.C. health officials say

The number of coronavirus cases in B.C. remains at seven

Toffoli scores OT winner as Canucks beat Habs 4-3

Demko makes 37 saves for Vancouver

Private clinics would harm ‘ordinary’ people using public system in B.C.: lawyer

Health Minister Adrian Dix announced in 2018 that the government would begin to fine doctors $10,000

B.C. terminates contract with hospice society refusing assisted death

Delta Hospice Society loses hospital service fund of $1.5 million

Child in hospital following fatal crash that killed father, sibling on B.C. highway

The single vehicle crash occured near Kamloops on Highway 5A

‘Die!’: Vernon councillor mailed death threat

This story contains information that might be sensitive to some readers

Hidden message connects Castlegar homeowners decades apart

The Rodgers family was surprised when a message fell out of the walls as they were renovating

Two B.C. men plead guilty to bus-terminal assault of man with autism in Ontario

Parmvir Chahil and Jaspaul Uppal due to be sentenced in June for aggravated assault

Most Read