Keeping Financially Healthy During Covid-19 with Maria Rekrut

Keeping Financially Healthy During Covid-19 with Maria Rekrut on All Things Real Estate, July 02, 2020 at 8:00 pm EST.   Maria Rekrut is a long time real estate investor who has seen many ups and downs in the economy since 1982, when she started her first business and has always made “Lemonade out of Lemons”. https://youtu.be/BwwyD5f0154

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Will American Fascism Spill into Canada? Ontario Landlords Beware!

Chris Hedges Exposes Corporate Collusion and Economic Despair—How It Impacts Ontario’s Housing Market

The YouTube video I referenced, “Chris Hedges – The HORRIFYING Future Awaits Under FASCISM,” uploaded by The Jimmy Dore Show, features Pulitzer Prize-winning journalist Chris Hedges discussing the rise of fascism in the United States and its broader implications. While the video does not directly address Canadian fascism or Ontario landlords, Hedges’ analysis of American fascism provides a framework to explore potential parallels in Canada, particularly for Ontario landlords. Below, I’ll outline Hedges’ key points from the video, apply them to the Canadian context, and discuss their implications for Ontario landlords, using relevant excerpts to support the analysis.

Chris Hedges’ Key Points on Fascism from the Video

Hedges describes fascism as a system driven by corporate and billionaire interests that aligns with Christian nationalism to consolidate power, suppress dissent, and dismantle democratic institutions. He emphasizes:

  1. Corporate Collusion with Fascism: Hedges argues that billionaires and corporations accommodate fascists to protect their wealth, citing historical examples like German industrialists supporting the Nazis. In the video, he states, “The billionaires and corporations… will accommodate themselves to the Christian fascists, as the German industrialists did to the Nazi Party” (approx. 12:30).
  2. Christian Nationalism as a Tool: He highlights how Christian fascism, wrapped in patriotic and religious symbolism, unites disparate groups like militia members, QAnon supporters, and anti-abortion activists. He notes, “The connecting tissue… is this frightening Christian fascism” (approx. 14:50).
  3. Erosion of Democratic Norms: Hedges warns that fascists deform legal and electoral systems to serve their ends, citing the U.S. Supreme Court’s rulings, such as overturning Roe v. Wade, as evidence of empowering Christian fascism (approx. 15:40).
  4. Economic Despair as a Catalyst: He links fascism’s rise to economic hardship and the betrayal of the working class by liberal elites, stating, “The root cause of our political distress lies with a liberal class that places corporate and personal profit above the common good” (approx. 18:20).

These points are drawn from the video and align with Hedges’ broader work, such as his book American Fascists: The Christian Right and the War on America and articles in Canadian Dimension.

Canadian Fascism: Contextualizing Hedges’ Analysis

While Hedges focuses on the U.S., Canada is not immune to similar dynamics. Canada has experienced rising far-right movements, economic inequality, and political polarization, which could foster conditions for fascism as Hedges describes. Key parallels include:

  • Far-Right Movements: Canada has seen growth in far-right groups, such as those involved in the 2022 Freedom Convoy, which protested government mandates and was supported by some Christian nationalist and populist elements. These groups share ideological similarities with the U.S. Christian right, including anti-government sentiment and distrust of liberal elites.
  • Economic Inequality: Like the U.S., Canada faces economic challenges, including housing crises and wealth disparities. In Ontario, skyrocketing housing costs and rent increases have strained tenants and landlords alike, creating fertile ground for populist or authoritarian narratives that exploit economic despair.
  • Political Polarization: The rise of figures like Pierre Poilievre, leader of the Conservative Party, reflects a shift toward populist rhetoric that critiques “out-of-touch elites,” echoing Hedges’ point about fascism exploiting feelings of abandonment.

However, Canada’s political system, with its stronger social safety nets and less pronounced religious nationalism, may temper the extent of fascist tendencies compared to the U.S. Still, Hedges’ warning about fascism’s reliance on economic hardship and institutional erosion applies, particularly in Ontario’s housing market.

Implications for Ontario Landlords

Ontario landlords operate in a highly regulated environment under the Residential Tenancies Act, 2006, which governs rent increases, evictions, and tenant rights. The rise of fascism, as Hedges describes, could impact landlords in several ways:

  1. Economic Policies Favoring Elites:
  • Hedges’ point about billionaires aligning with fascists suggests that a fascist-leaning government might prioritize corporate interests, such as large real estate conglomerates, over small landlords. In Ontario, where housing is a critical issue, policies could favor developers or corporate landlords, potentially squeezing smaller landlords. For example, Hedges notes, “Unfettered and unregulated capitalism… turns everything into a commodity” (approx. 20:10), which could lead to market consolidation where small landlords struggle to compete.
  • Ontario’s housing market is already strained, with 2024 data showing average rents in Toronto rising 8.7% year-over-year to $2,719 for a one-bedroom apartment (Rentals.ca, 2024). Fascist policies could exacerbate this by deregulating rent controls to benefit corporate investors, leaving smaller landlords vulnerable to market pressures.
  1. Erosion of Legal Protections:
  • Hedges warns that fascists “deform the law, including electoral law, to serve their ends” (approx. 15:40). In Ontario, this could translate to weakened tenant protections or landlord rights, depending on political priorities. For instance, a far-right government might reduce regulations to favor property owners but could also undermine due process in eviction disputes, creating uncertainty for landlords.
  • The Landlord and Tenant Board (LTB) in Ontario is already backlogged, with wait times for hearings exceeding six months in 2024 (Ontario Ombudsman Report, 2024). A fascist shift could politicize such institutions, prioritizing ideological allies over fair adjudication, complicating landlords’ ability to resolve disputes.
  1. Social Polarization and Tenant-Landlord Tensions:
  • Hedges’ emphasis on Christian fascism’s intolerance, such as targeting marginalized groups (approx. 14:50), could heighten social tensions in Ontario’s diverse cities like Toronto. Landlords, as property managers, might face increased scrutiny or conflict if fascist rhetoric fuels anti-immigrant or anti-tenant sentiments, particularly in a province where 46.8% of Toronto’s population is foreign-born (Statistics Canada, 2021).
  • Populist narratives blaming tenants (e.g., immigrants or low-income groups) for housing shortages could pressure landlords to align with such ideologies, risking reputational or legal challenges if they discriminate.
  1. Economic Despair and Rent Collection:
  • Hedges links fascism to economic despair, noting, “Fear… has no hold in deindustrialized urban landscapes and the neglected wastelands of rural America” (approx. 18:20). In Ontario, economic hardship—evidenced by 1.7 million households spending over 30% of income on housing (CMHC, 2023)—could lead to higher rates of rent delinquency, impacting landlords’ financial stability. A fascist government might offer little support for social programs, leaving landlords to bear the brunt of tenants’ inability to pay.

Specific Impact of American Fascism on Canada

Hedges’ analysis of American fascism has ripple effects for Canada due to the countries’ economic and cultural ties:

  • Policy Spillover: U.S. policies under a fascist-leaning administration, such as tax cuts for billionaires or deregulation (as Hedges mentions at approx. 20:10), could pressure Canada to align economically to remain competitive. This might lead to reduced funding for social programs like affordable housing, increasing pressure on Ontario landlords to fill gaps left by government inaction.
  • Cultural Influence: The spread of Christian nationalist rhetoric, which Hedges identifies as a unifying force (approx. 14:50), could inspire similar movements in Canada. Ontario, with its diverse religious communities, might see heightened tensions if U.S.-style Christian fascism influences Canadian politics, affecting landlord-tenant relations in multicultural areas.
  • Economic Instability: Hedges’ point about fascism exploiting economic despair (approx. 18:20) applies to Canada’s housing crisis. If U.S. fascism destabilizes North American markets, Ontario’s real estate sector could face volatility, impacting landlords’ property values and rental income.

Recommendations for Ontario Landlords

To navigate potential fascist influences, Ontario landlords should:

  • Stay Informed: Monitor political shifts in Canada and the U.S., particularly policies affecting housing and tenant rights.
  • Advocate for Fair Regulation: Engage with landlord associations to ensure small landlords’ interests are protected against corporate dominance.
  • Foster Community Relations: Build positive relationships with tenants to mitigate social tensions fueled by populist or fascist rhetoric.
  • Diversify Investments: Prepare for economic volatility by diversifying income sources beyond rental properties.

Artifact: Analysis Summary

Canadian Fascism and Its Implications for Ontario Landlords

Overview

Chris Hedges’ analysis of American fascism, as discussed in the YouTube video “Chris Hedges – The HORRIFYING Future Awaits Under FASCISM” (https://youtu.be/bnP47bZfX3E), highlights the rise of Christian nationalism, corporate collusion, and the erosion of democratic norms. This analysis explores how these dynamics could manifest as Canadian fascism and affect Ontario landlords.

Key Points from Chris Hedges

  • Corporate Collusion: “The billionaires and corporations… will accommodate themselves to the Christian fascists, as the German industrialists did to the Nazi Party” (12:30).
  • Christian Nationalism: “The connecting tissue… is this frightening Christian fascism” (14:50).
  • Legal Erosion: Fascists “deform the law, including electoral law, to serve their ends” (15:40).
  • Economic Despair: “The root cause of our political distress lies with a liberal class that places corporate and personal profit above the common good” (18:20).

Canadian Context

  • Far-Right Movements: The 2022 Freedom Convoy showed populist and Christian nationalist elements, similar to U.S. trends.
  • Economic Inequality: Ontario’s housing crisis, with Toronto rents up 8.7% in 2024, mirrors the economic despair Hedges links to fascism.
  • Political Polarization: Populist rhetoric from figures like Pierre Poilievre echoes Hedges’ warnings about exploiting abandonment.

Implications for Ontario Landlords

  1. Economic Policies: Fascist-leaning policies favoring corporate landlords could marginalize small landlords.
  2. Legal Protections: Erosion of fair adjudication at the Landlord and Tenant Board could complicate dispute resolution.
  3. Social Tensions: Anti-immigrant or anti-tenant rhetoric could strain landlord-tenant relations in diverse cities.
  4. Rent Collection: Economic hardship may increase rent delinquencies, impacting landlords’ finances.

Recommendations

  • Monitor political and economic trends in Canada and the U.S.
  • Advocate for balanced housing regulations.
  • Build positive tenant relationships to reduce conflict.
  • Diversify income to mitigate economic volatility.

Conclusion

While Canada’s political system may resist full-blown fascism, Hedges’ warnings about economic despair and institutional erosion highlight risks for Ontario landlords. Proactive engagement and adaptability are key to navigating these challenges.

Conclusion

Hedges’ analysis of American fascism, as articulated in the video, underscores the dangers of corporate collusion, Christian nationalism, and economic despair. For Ontario landlords, these dynamics could manifest as increased market competition, weakened legal protections, heightened social tensions, and economic instability. By understanding these risks and taking proactive steps, landlords can better navigate a potential fascist shift influenced by U.S. trends.

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CANADA NOW – WHAT’S WITH THE OSTRICHES?

I’ll be interviewing Jim Kerr today, for a second time on our new show “CANADA NOW” Saturday, May 24 2025 at 12 pm EST, on Real Wealth Radio https://realwealthradio.ca/ We’ll get an update about what’s going on with the Ostrich farm in BC. They need your support. We have to stop the government’s over reach!! Rally and join the fight!!

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THIS IS TORONTO’S HOMELESS SHELTER WITHOUT WATER FOR A WEEK!! ARE WE KIDDING?

THIS IS TORONTO’S HOMELESS SHELTER!! WHERE ARE OUR TAXES GOING?? OH I FORGOT IT’S GOING TO THE UKRAINE INSTEAD TO CANADIANS!! THIS IS SO SHAMEFULL!! I THINK POLITICANS CAN DONATE THEIR SALARIES TO HELP THE HOMELESS!!

An outside shot of a shelter at 545 Lake Shore Blvd. W. in Toronto. (City of Toronto photo)

https://www.ctvnews.ca/toronto/article/downtown-toronto-shelter-gets-water-service-back-after-almost-a-week-without-it/

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Mark Carney’s Bold New Cabinet: Fresh Faces and Economic Focus for Canada’s Future

A streamlined team with innovative ministers signals a shift toward growth, diversity, and Canada-U.S. relations in 2025

Prime Minister Mark Carney unveiled his new cabinet on May 13, 2025, at Rideau Hall, featuring a mix of new faces and experienced ministers. The cabinet includes 28 ministers and 10 secretaries of state, with over half being first-time ministers. Below is a list of key new and notable ministers in Carney’s cabinet, based on available information:

  • François-Philippe Champagne: Finance Minister and Revenue Minister, retained from previous roles.
  • Anita Anand: Foreign Affairs Minister, replacing Mélanie Joly.
  • Mélanie Joly: Industry Minister and Minister responsible for Canada Economic Development for Quebec Regions, previously Foreign Affairs Minister.
  • Tim Hodgson: Energy and Natural Resources Minister, a new MP and former Goldman Sachs executive who advised Carney at the Bank of Canada.
  • Gregor Robertson: Housing and Infrastructure Minister, former Vancouver mayor, and Minister responsible for Pacific Economic Development Canada.
  • Sean Fraser: Justice Minister and Attorney General, previously Housing Minister under Justin Trudeau.
  • David McGuinty: National Defence Minister, previously in Public Safety.
  • Evan Solomon: Minister of Artificial Intelligence and Digital Innovation, and Minister responsible for the Federal Economic Development Agency for Southern Ontario, a new MP and broadcaster.
  • Rechie Valdez: Minister of Women and Gender Equality, and Secretary of State for Small Business and Tourism.
  • Mandy Gull-Masty: Indigenous Services Minister, former Cree Grand Chief in northern Quebec.
  • Chrystia Freeland: Transport and Internal Trade Minister, retained from Carney’s interim cabinet.
  • Steven Guilbeault: Minister of Canadian Identity and Culture, also responsible for Official Languages.
  • Dominic LeBlanc: Canada-U.S. Relations and Intergovernmental Affairs Minister.
  • Jill McKnight: Veterans Affairs Minister, from Delta, BC.
  • Stephen Fuhr: Secretary of State for Defence Procurement, from Kelowna, BC.
  • Randeep Sarai: Secretary of State for International Development, from Surrey Centre, BC.
  • Wayne Long: Secretary of State for the Canada Revenue Agency and Financial Institutions.
  • Nathalie Provost: Secretary of State for Nature, a gun control activist.
  • Anna Gainey: Secretary of State for Children and Youth, wife of Carney’s principal secretary Tom Pitfield.
  • Notable Notes:
  • The cabinet is designed to be smaller and more focused, with 28 ministers compared to Trudeau’s high of 40. It includes 10 secretaries of state who handle specific policy priorities but do not manage full departments or attend all cabinet meetings.
  • Carney dropped several Trudeau-era ministers, including Bill Blair, Rachel Bendayan, Kody Blois, Arielle Kayabaga, Ginette Petitpas Taylor, Terry Duguid, Nathaniel Erskine-Smith, Elisabeth Brière, and Ali Ehsassi.
  • The cabinet aims to balance regional representation, gender parity, and diversity, with a focus on economic priorities, Canada-U.S. relations, and housing.
  • Carlos Leitão, a former Quebec finance minister, was widely expected to join but did not make the final cabinet.

This list reflects the most prominent and confirmed appointments from the swearing-in ceremony. For a complete list, further details may be available through official government sources or ongoing media coverage, as some roles were still being finalized during the ceremony.

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Montreal Airbnb Crackdown: $1K Fines Per Night!

In Quebec, particularly in Montreal, recent news reports highlight a significant crackdown on Airbnb and other short-term rental properties. As of January 2025, Montreal implemented some of the toughest regulations on short-term rentals globally. The city now restricts Airbnb rentals to primary residences and only allows them between June 10 and September 10, effectively banning most short-term rentals outside this summer window. This move aims to address the housing crisis by returning thousands of units to the long-term rental market, as more than half of the city’s roughly 4,000 short-term rental units were illegal. Fines for non-compliance are steep: $1,000 per night for individuals and $2,000 per night for businesses. The city has also increased its inspection team from three to seven to enforce these rules.

The regulations stem from ongoing concerns that short-term rentals exacerbate Quebec’s housing shortage, with a 2019 study estimating that Airbnb removed 31,000 units from Canada’s long-term rental market. A tragic 2023 fire in Old Montreal, which killed seven people in a building with illegal Airbnb units, further spurred action. Posts on X from May 12, 2025, reflect public sentiment, noting Montreal’s measures as among the strictest worldwide, driven by fraud on platforms like Airbnb and the chronic housing crunch. Some X users expressed hope that other cities would follow suit.

Additionally, Quebec’s provincial government has enforced stricter rules since 2023 under Bill 25, requiring platforms like Airbnb to verify that listings have valid registration numbers and certificates issued by the Corporation de l’industrie touristique du Québec (CITQ). Non-compliant listings face fines of up to $100,000 per posting, and platforms must designate a Quebec-based representative to ensure compliance. These measures aim to curb illegal rentals and ease pressure on the housing market, though critics argue they may not fully resolve affordability issues, as some units may remain too expensive for low-income tenants..

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Canadian Airbnb Hosts: Ready for Bill C-47’s 2025 Tax Changes?

Understanding Digital Platform Reporting, Income Tax, and Avoiding CRA Penalties

There are many changes coming to the short term rental marketplace. I started Short Term Rentals in 2000 and of course there weren’t these rules that stops business growth and enjoyment. I remember when I started hosting guests, it was so easy to do and so enjoyable. Now fast forward 2025, it’s anything but enjoyable. I, along with many hosts that I have spoken to, have found this business to be more of a chore than it’s enjoyable…..

Why is that you ask? It’s because of all the additional taxes, rules, guests who think they own your home and can do what they want and not go by the house rules. The government in all their wisdom think they know our business better than we do. When you get the government’s nose in a private business, there’s guarantee to be a disaster. Most of all the return on investment is becoming smaller and smaller, with all the expenses, taxes, upkeep, staffing and of course the most important you’re on 24 hours a day!! Sure it’s fun and exciting at the beginning and then boredom and impatience sets in!! Be sure to read the article below to find out about a new added taxes on our short term rentals.

Enjoy,

Maria Rekrut

If you’re a Canadian host renting out your property on platforms like Airbnb or Vrbo, new tax rules from Bill C-47, Budget Implementation Act, 2023, No. 1 could affect your income in 2025. Enacted on June 22, 2023, this legislation introduces digital platform reporting rules that increase transparency for gig economy workers, including short-term rental hosts. With the Canada Revenue Agency (CRA) now receiving detailed income data from platforms, compliance is more critical than ever.

This article breaks down what these changes mean for you, how to stay compliant, and strategies to optimize your tax obligations.

What Are the Digital Platform Reporting Rules?

Starting in 2024, with the first reports due January 31, 2025, digital platforms like Airbnb must report host information to the CRA, including:

  • Personal Details: Name, address, and tax identification number.
  • Income Data: Gross earnings from short-term rentals (typically less than 30 days).
  • GST/HST Obligations: Platforms may collect and remit GST/HST for unregistered hosts, impacting those with taxable supplies over $30,000 annually.

These rules, part of Bill C-47, align with OECD guidelines to curb tax evasion in the gig economy. However, small-scale hosts earning less than €2,000 (approximately CAD $2,800) annually or with fewer than 2,000 transactions may be exempt from reporting, though platforms may still collect basic data.

Who Is Affected?

Not all Canadian hosts face the same impact:

  • Active Short-Term Rental Hosts: If you earn significant income (above €2,000/year) on Airbnb, Vrbo, or similar platforms, your earnings will likely be reported to the CRA.
  • Small-Scale Hosts: Those earning below the €2,000 threshold may be exempt, but you must still report rental income on your tax return.
  • Non-Digital Hosts: If you rent privately (e.g., through classified ads), these rules don’t apply, but existing tax obligations remain.
  • Non-Resident Hosts: Non-residents renting Canadian properties may face GST/HST collection by platforms, increasing compliance costs.

How Bill C-47 Affects Your Taxes

Income Tax

The CRA will cross-reference platform-reported income with your tax return, increasing audit risks for unreported earnings. Hosts must report rental income on Form T776 (Statement of Real Estate Rentals), even if below the reporting threshold. Deductible expenses (e.g., utilities, cleaning fees, or mortgage interest) can offset income, but accurate record-keeping is essential.

GST/HST Compliance

If your annual taxable supplies (including rental income) exceed $30,000, you must register for GST/HST and charge it on rentals. Platforms may collect GST/HST on behalf of unregistered hosts, but you’re responsible for remitting it if registered. Bill C-47’s rules ensure platforms report GST/HST data, so non-compliance could trigger penalties.

Penalties for Non-Compliance

Failing to report income or GST/HST can lead to:

  • Penalties: Up to 50% of unreported taxes owed.
  • Interest: On overdue amounts.
  • Extended Reassessment Periods: The CRA can reassess beyond the standard three-year period for non-compliance with mandatory disclosure rules.

Strategies to Stay Compliant

  1. Track Income and Expenses: Use tools like QuickBooks or spreadsheets to log all rental income and deductible expenses (e.g., repairs, advertising).
  2. Understand GST/HST Obligations: Check if your rental income exceeds $30,000 annually. Consult a tax professional to determine registration needs.
  3. File Accurately: Report all platform income on your tax return, even if exempt from platform reporting. Use CRA’s My Account to monitor reported data.
  4. Leverage Deductions: Claim expenses like property taxes, insurance, or home office costs to reduce taxable income.
  5. Prepare for Audits: Keep records for at least six years, as CRA’s access to platform data heightens audit scrutiny.

Other Bill C-47 Changes Relevant to Hosts

  • Residential Property Flipping Rule: If you sell a rental property within one year of acquisition, profits are taxed as business income (100% taxable) rather than capital gains (50% taxable). This may affect hosts flipping properties frequently.
  • Electronic Filing: For 2024 and beyond, GST/HST returns and payments over $10,000 must be filed electronically, with penalties for non-compliance ($100 per violation).

What’s Next for Canadian Hosts?

As platforms begin reporting in 2025, the CRA will intensify efforts to ensure compliance. Small-scale hosts may face minimal changes if exempt, but all hosts should:

  • Review Platform Communications: Airbnb and others will notify hosts about reported data.
  • Consult a Tax Advisor: A professional can clarify your obligations, especially for GST/HST or complex rental setups.
  • Stay Informed: Check www.canada.ca for CRA updates on digital platform reporting.

Conclusion

Bill C-47’s digital platform reporting rules mark a shift toward greater tax transparency for Canadian hosts. While compliance may feel daunting, proactive steps—tracking income, claiming deductions, and understanding GST/HST—can minimize stress and penalties. Whether you’re a full-time Airbnb host or renting out a spare room, staying informed and prepared will keep you ahead in 2025.

Disclaimer: This article is for informational purposes only. Consult a tax professional for personalized advice.

Sources: Canada Revenue Agency, Parliament of Canada, TurboTax Canada.

#BillC47, #AirbnbTaxes2025, #CanadianAirbnbHosts, #CRACompliance, #DigitalPlatformReporting, #GSTHST, #ShortTermRentalTaxes, #GigEconomyCanada, #AirbnbHostTips, #CanadianTaxChanges,

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The Creature from Jekyll Island: Unveiling the Federal Reserve’s Origins and 2025 Implications

In 1994, G. Edward Griffin published The Creature from Jekyll Island: A Second Look at the Federal Reserve, a provocative book that has become a cornerstone for those questioning the origins and operations of the United States’ central banking system. The book centers on a secretive meeting held in November 1910 on Jekyll Island, Georgia, where a small group of influential bankers and politicians crafted a plan that would eventually become the Federal Reserve System, established by the Federal Reserve Act of 1913. Griffin argues that this meeting was not merely a technical discussion about banking reform but a calculated move by a financial elite to consolidate control over the U.S. economy through a private banking cartel disguised as a public institution.

This article explores the book’s core claims, identifies the key participants of the Jekyll Island meeting and their roles in shaping economic sectors, and examines how the plans laid in 1913 have evolved, impacting the global economy in 2025.

What The Creature from Jekyll Island Is About

The Creature from Jekyll Island is both a historical exposé and a critique of the Federal Reserve System. Griffin asserts that the Federal Reserve was designed to serve the interests of a powerful banking elite rather than the public, operating as a private monopoly over the nation’s money supply. The book delves into several key themes:

  1. The Secretive Origins of the Federal Reserve: Griffin details the clandestine 1910 meeting on Jekyll Island, where a select group of financial titans and a U.S. senator drafted what became known as the Aldrich Plan, the precursor to the Federal Reserve Act. The secrecy, he argues, was deliberate to shield the plan from public scrutiny and to present the Federal Reserve as a government-controlled entity, despite its private ownership structure.
  2. Fiat Money and Economic Manipulation: The book explains how the Federal Reserve’s ability to create money “out of nothing” (fiat money) leads to inflation, devaluation of currency, and economic instability. Griffin claims this power enables the Fed to manipulate interest rates and orchestrate boom-and-bust cycles, benefiting bankers while eroding the purchasing power of ordinary citizens.
  3. A Banking Cartel: Griffin portrays the Federal Reserve as a cartel of private banks that limits competition, consolidates control over monetary policy, and ensures that taxpayers bear the cost of banking losses. He argues that the Fed’s structure allows it to prioritize the interests of its member banks over the public’s well-being.
  4. Broader Implications: The book connects the Federal Reserve’s policies to broader societal issues, including war financing, national debt, and the concentration of financial power. Griffin suggests that the Fed’s ability to print money facilitates government spending on wars and perpetuates a debt-based economy, aligning with what he calls the “Rothschild Formula”—a strategy of using debt to control nations.

While The Creature from Jekyll Island has been praised for raising awareness about the Federal Reserve’s operations, it has also faced criticism. Some, like economist Edward Flaherty, have called Griffin’s account “amateurish” and “highly suspect,” arguing that it exaggerates the conspiratorial elements and oversimplifies complex economic realities. Nevertheless, the book’s influence is undeniable, inspiring movements like “Audit the Fed” and shaping the views of figures like former Congressman Ron Paul.

The Jekyll Island Meeting: Participants and Their Economic Influence

The 1910 Jekyll Island meeting was a pivotal event, attended by six key figures who represented significant financial and political power. Below is a list of the participants, their affiliations, and the economic sectors they influenced, based on historical accounts and Griffin’s narrative:

  1. Nelson W. Aldrich
  • Affiliation: U.S. Senator from Rhode Island, Chairman of the Senate Finance Committee, and a key figure in the National Monetary Commission.
  • Economic Sector: Political influence and banking legislation. Aldrich was instrumental in shaping the legislative framework for the Federal Reserve. His connections to the Rockefeller family (through his daughter’s marriage to John D. Rockefeller Jr.) tied him to industrial and financial interests.
  • Role: As the political leader of the group, Aldrich ensured the plan would gain traction in Congress, though it was later rebranded to distance it from his name due to his association with big business.
  1. Paul M. Warburg
  • Affiliation: Partner at Kuhn, Loeb & Co., a prominent investment bank, and a German-born financier with expertise in European central banking.
  • Economic Sector: International finance and banking policy. Warburg was the intellectual architect of the Aldrich Plan, advocating for a central bank modeled after European systems like the Bank of England. His firm had ties to the Rothschild banking dynasty.
  • Role: Warburg’s technical expertise shaped the Federal Reserve’s structure, particularly its ability to control the money supply and influence global finance. He later served on the Federal Reserve Board.
  1. Henry P. Davison
  • Affiliation: Senior partner at J.P. Morgan & Co., one of the most powerful banking houses in the U.S.
  • Economic Sector: Commercial banking and corporate finance. J.P. Morgan & Co. dominated Wall Street, financing major industries like railroads, steel, and utilities.
  • Role: Davison provided strategic input and likely suggested the Jekyll Island meeting. His firm’s influence ensured the Federal Reserve would protect the interests of large New York banks.
  1. Frank A. Vanderlip
  • Affiliation: President of National City Bank (now Citibank), a Rockefeller-controlled institution, and a former Assistant Secretary of the Treasury.
  • Economic Sector: Commercial banking and monetary policy. National City Bank was a major player in domestic and international finance.
  • Role: Vanderlip contributed to the plan’s focus on consolidating bank reserves and reducing competition from smaller banks. He later admitted to the meeting’s secrecy in a 1935 article in the Saturday Evening Post.
  1. Charles D. Norton
  • Affiliation: President of the First National Bank of New York, a Morgan-controlled institution.
  • Economic Sector: Commercial banking. First National Bank was a key player in corporate lending and securities.
  • Role: Norton’s involvement reinforced the dominance of New York banks in the Federal Reserve’s design, ensuring they would control the system’s regional banks.
  1. A. Piatt Andrew
  • Affiliation: Assistant Secretary of the Treasury and a former economics professor at Harvard University.
  • Economic Sector: Public finance and banking research. Andrew’s academic background and government role bridged the gap between theory and policy.
  • Role: Andrew provided technical expertise and helped synthesize the group’s ideas into a cohesive plan. His Treasury position gave the plan an air of governmental legitimacy.
  1. Arthur Shelton (often included as a participant)
  • Affiliation: Private secretary to Senator Aldrich.
  • Economic Sector: Political facilitation. Shelton had no direct control over an economic sector but was crucial for logistics and secrecy.
  • Role: Shelton managed communications and ensured the meeting remained confidential, acting as Aldrich’s aide.

The group, dubbed the “First Name Club” to avoid using last names during their journey, represented approximately 25% of the world’s wealth at the time, according to some estimates. Their plan aimed to: stop competition from smaller banks, create money through a central authority, control bank reserves, shift losses to taxpayers, and convince Congress it was for the public good. These objectives, Griffin argues, were achieved through the Federal Reserve’s structure, which gave private banks significant influence over monetary policy.

Economic Sectors Controlled

The Jekyll Island participants collectively shaped several critical economic sectors:

  • Commercial Banking: Davison, Vanderlip, and Norton ensured that large New York banks (Morgan and Rockefeller-affiliated) dominated the Federal Reserve’s regional banks, limiting competition from smaller institutions.
  • International Finance: Warburg’s expertise positioned the Federal Reserve as a player in global markets, facilitating U.S. banks’ expansion overseas and reducing reliance on European financial houses.
  • Monetary Policy: The group’s design gave the Federal Reserve control over the money supply, interest rates, and bank reserves, centralizing power in the hands of private bankers.
  • Political Influence: Aldrich’s legislative clout ensured the plan’s passage, while Andrew’s Treasury role provided a veneer of public interest.
    These sectors remain integral to the Federal Reserve’s operations, with its policies affecting everything from consumer credit to global trade.

The 1913 Plans in 2025: Have They Come to Fruition?

Griffin’s The Creature from Jekyll Island argues that the Federal Reserve’s creation was a long-term strategy to centralize financial power, perpetuate debt, and control economies. In 2025, several aspects of the 1913 plan appear to have materialized, though the extent to which they align with Griffin’s conspiratorial narrative is debated. Below, we examine how the Federal Reserve’s influence has evolved and its implications for the global economy today:

  1. Consolidation of Financial Power
  • 1913 Plan: The Jekyll Island group sought to create a banking cartel that would protect large banks and limit competition.
  • 2025 Reality: The Federal Reserve oversees a financial system dominated by a handful of “too big to fail” banks, such as JPMorgan Chase, Citibank, and Bank of America—direct descendants of the institutions represented at Jekyll Island. Since 1913, bank consolidations have reduced the number of independent banks, with the top 1% of banks holding over 80% of U.S. banking assets. The Fed’s policies, like quantitative easing and low interest rates, have bolstered these institutions, often at the expense of smaller banks and consumers. Griffin’s claim of a banking cartel finds some support here, though critics argue this consolidation is a natural outcome of market dynamics rather than a deliberate conspiracy.
  1. Fiat Money and Inflation
  • 1913 Plan: The Federal Reserve was designed to create money through debt, enabling banks to profit from interest and control economic cycles.
  • 2025 Reality: The U.S. dollar remains a fiat currency, unbacked by gold since the Nixon administration ended the gold standard in 1971. Inflation has eroded the dollar’s value; what cost $1 in 1913 now costs over $30 in 2025. The Fed’s policies, such as printing trillions during the 2008 financial crisis and the COVID-19 pandemic, have fueled asset bubbles and increased national debt to over $35 trillion. Griffin’s warnings about currency devaluation and boom-and-bust cycles resonate in 2025, as rising inflation and cost-of-living pressures affect millions. However, mainstream economists argue that fiat money enables flexible monetary policy, and inflation is a complex phenomenon not solely attributable to the Fed.
  1. Global Financial Influence
  • 1913 Plan: Warburg envisioned a central bank that would elevate U.S. banks to compete with European financial houses, integrating America into global finance.
  • 2025 Reality: The Federal Reserve is the world’s most powerful central bank, with the U.S. dollar as the global reserve currency. The Fed’s decisions on interest rates and money supply ripple across emerging markets, influencing everything from commodity prices to sovereign debt. For example, rate hikes in 2022–2023 strained developing economies, causing currency devaluations in countries like Argentina and Turkey. This global reach aligns with Griffin’s view of a financial elite controlling economies, but it also reflects America’s economic dominance rather than a singular conspiratorial agenda.
  1. Debt and War Financing
  • 1913 Plan: Griffin alleges the Federal Reserve was designed to facilitate government borrowing, particularly for wars, keeping nations in perpetual debt (the “Rothschild Formula”).
  • 2025 Reality: The U.S. national debt has skyrocketed, with interest payments projected to exceed $1 trillion annually by 2030. The Fed’s role in purchasing government bonds (monetizing debt) has enabled massive spending, including on military interventions in Iraq, Afghanistan, and ongoing geopolitical tensions. While this supports Griffin’s thesis, critics argue that debt is a byproduct of modern governance, not a deliberate plot. Nonetheless, the Fed’s ability to finance deficits without immediate consequences has normalized a debt-driven economy.
  1. Lack of Transparency and Accountability
  • 1913 Plan: The Jekyll Island group crafted a system with minimal public oversight, presenting it as a public institution while retaining private control.
  • 2025 Reality: The Federal Reserve operates with significant autonomy, exempt from Freedom of Information Act requests, and its ownership structure (private banks holding stock in regional Fed banks) remains opaque. Movements to audit the Fed, championed by figures like Rand Paul, have gained traction but face resistance. In 2025, public distrust of the Fed persists, fueled by its role in recent economic crises and perceived favoritism toward Wall Street. Griffin’s call for transparency remains relevant, though some argue the Fed’s independence is necessary to avoid political interference.

2025 Implications: Where Is the World Headed?

In 2025, the Federal Reserve’s influence is both undeniable and contentious. The plans laid in 1913 have arguably created a world where financial power is concentrated, debt is ubiquitous, and monetary policy shapes global stability. Looking ahead, several trends suggest where the world is going in light of the Federal Reserve’s legacy:

  • Digital Currencies and Central Bank Control: The rise of central bank digital currencies (CBDCs) could extend the Fed’s reach, enabling real-time monitoring of transactions and potentially phasing out cash. In 2025, the Fed is exploring a digital dollar, raising concerns about privacy and control—issues Griffin warned about regarding centralized power. A CBDC could fulfill the 1913 vision of total monetary dominance, though it also faces opposition from advocates of decentralized cryptocurrencies like Bitcoin.
  • Economic Inequality: The Fed’s policies, such as asset purchases, have inflated stock and real estate markets, disproportionately benefiting the wealthy. In 2025, wealth inequality is a pressing issue, with the top 1% owning over 50% of U.S. wealth. This aligns with Griffin’s critique of a system that favors elites, though structural factors beyond the Fed also contribute.
  • Global Economic Instability: The Fed’s role as the world’s central bank creates vulnerabilities. In 2025, rising interest rates to combat inflation could trigger recessions in debt-laden countries, while geopolitical tensions (e.g., U.S.-China rivalry) complicate monetary coordination. Griffin’s warnings about economic crises driven by fiat money remain pertinent, but solutions like returning to a gold standard are debated for their feasibility.
  • Public Awakening and Reform: Griffin’s book has fueled a growing awareness of the Federal Reserve’s operations. In 2025, social media platforms like X amplify calls to “End the Fed” or demand audits, reflecting distrust in institutions. While systemic reform is unlikely in the near term, public pressure could lead to incremental changes, such as greater transparency or limits on the Fed’s emergency powers.

Conclusion

The Creature from Jekyll Island offers a compelling, if controversial, lens on the Federal Reserve’s origins and impact. The 1910 Jekyll Island meeting, attended by Nelson Aldrich, Paul Warburg, Henry Davison, Frank Vanderlip, Charles Norton, A. Piatt Andrew, and Arthur Shelton, laid the groundwork for a system that centralized control over banking, monetary policy, and international finance. In 2025, the Federal Reserve’s influence is evident in a debt-driven, unequal, and globally interconnected economy. While Griffin’s conspiratorial narrative may overreach, his warnings about transparency, inflation, and elite control resonate in today’s world. As we navigate digital currencies, economic instability, and public distrust, the legacy of 1913 continues to shape our financial future. Readers are encouraged to explore Griffin’s book, engage with primary sources, and question the systems that govern our economy.


Note: For further reading, consider The Creature from Jekyll Island by G. Edward Griffin, available on Amazon, and historical accounts like America’s Bank by Roger Lowenstein. To understand current sentiments, explore discussions on X or visit federalreservehistory.org for official perspectives.

#FederalReserve, #JekyllIsland, #CreatureFromJekyllIsland, #BankingHistory, #MonetaryPolicy, #GlobalFinance, #EconomicConspiracy, #Finance2025

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The 2025 Economic Crisis: Could It Rival the 1929 Great Depression?

As markets teeter and debt soars, learn how 2025’s economic risks echo the 1929 crash—and steps to safeguard your wealth in turbulent times.

As whispers of a looming economic downturn grow louder, some bankers and central bank governors in 2025 are drawing chilling comparisons to the Great Depression that began in 1929. Labeled as a recession teetering on the edge of a full-blown depression, today’s economic climate echoes the systemic failures, speculative excesses, and policy missteps of nearly a century ago. This article explores the striking parallels between these two pivotal moments, examining the roles of financial systems, government policies, and societal impacts, while highlighting key differences that shape our modern crisis.

The Prelude: Speculative Bubbles and Overconfidence

1929: The Roaring Twenties Bubble
The 1920s were a time of exuberance, with the U.S. economy riding a wave of industrial growth and stock market speculation. Stock prices soared fourfold from 1921 to 1929, fueled by easy credit and margin lending, where investors borrowed up to 90% of stock purchases. Banks, minimally regulated, poured money into speculative ventures, ignoring signs of overvaluation. The price-dividend ratio of stocks, a measure of market health, hovered at unsustainable levels, yet optimism prevailed until the infamous Black Thursday crash on October 24, 1929, when the Dow Jones plummeted, wiping out billions in wealth.

2025: The “Everything Bubble”
Fast forward to 2025, and economists like Harry Dent warn of an “everything bubble,” inflated by 14 years of loose monetary policies and government stimulus. Ultra-low interest rates and quantitative easing since the 2008 financial crisis have pumped liquidity into markets, driving up asset prices across stocks, real estate, and even cryptocurrencies. Tech giants like Nvidia, hailed as market darlings, face warnings of potential 98% drops as valuations detach from fundamentals. Posts on X reflect public anxiety, with users noting parallels to 1929’s market disconnect from reality, citing “excessive gambling” and “markets cooked” by unsustainable debt.

Parallel: Both eras saw speculative manias driven by easy money and overleveraged investments, with warning signs dismissed by market euphoria.
Difference: In 2025, the bubble spans multiple asset classes globally, amplified by digital trading platforms and retail investor participation, unlike the stock-centric frenzy of 1929.

Banking Systems: Fragility and Contagion

1929: Banking Panics and Systemic Collapse
The 1929 crash exposed deep flaws in the U.S. banking system. Banks held “fictitious reserves” from double-counted checks, inflating their liquidity. When the crash triggered panic, depositors rushed to withdraw funds, leading to over 9,000 bank failures by 1933. The Federal Reserve, decentralized and led by less decisive figures after the 1928 death of Benjamin Strong, failed to act as a lender of last resort. This inaction, coupled with a 31% contraction in the money supply, turned a recession into the Great Depression.

2025: Stable Banks, Systemic Risks
In 2025, banks are structurally sounder, thanks to post-2008 reforms like the Dodd-Frank Act, which mandated higher capital reserves. However, systemic risks persist. Economists like Steve Hanke point to a contracting M2 money supply, down over the past two years, signaling potential recessionary pressures. Global debt levels, at unsustainable highs, mirror 1929’s over-indebtedness. X posts highlight fears of a policy-driven shock, with tariffs and tightening monetary policies risking a 2025 market crash akin to 2008 but distinct from 1929’s banking collapse.

Parallel: Both periods faced systemic vulnerabilities—overleveraged banks in 1929 and overindebted economies in 2025—that amplified economic shocks.
Difference: Modern banking regulations mitigate outright failures, but global interconnectedness and debt expose new fragilities.

Policy Missteps: Tightening at the Wrong Time

1929: Federal Reserve’s Blunder
The Federal Reserve’s decision to raise interest rates in 1928 and 1929 to curb stock market speculation backfired. Higher rates choked off interest-sensitive sectors like construction and autos, slowing the economy. The Fed’s adherence to the gold standard further constrained its ability to inject liquidity, exacerbating global recessions as foreign central banks followed suit. Milton Friedman and Anna Schwartz later argued that aggressive Fed action could have limited the crisis to a mild recession.

2025: Central Banks in a Bind
In 2025, central banks face a delicate balancing act. After years of easing, some predict a shift back to tightening to combat inflation, risking market destabilization. Simon Hunt’s forecasts, summarized on Eightify, suggest central banks may ease again due to war-related financial strains, only to overshoot and fuel a crash by 2025. X users draw parallels to 1929’s policy errors, citing tariffs and protectionism as modern equivalents to the Smoot-Hawley Tariff Act of 1930, which crippled global trade.

Parallel: Misguided monetary policies in both eras—tightening in 1929, potential over-easing or tightening in 2025—threaten to deepen economic woes.
Difference: Today’s fiat currencies offer more policy flexibility than the gold standard, but global coordination remains a challenge.

Societal Impact: Inequality and Hardship

1929: Mass Unemployment and Poverty
The Great Depression saw U.S. unemployment soar to 25%, with industrial unemployment hitting 35%. Real GDP fell 30%, and deflation slashed prices by 33%. Wealth inequality, already stark in 1929, worsened as the top 1% held disproportionate wealth. Globally, poverty surged, with countries like Germany and the UK facing mass unemployment and social unrest.

2025: Rising Poverty and Polarization
Projections for 2025 warn of deepening inequality and poverty. The World Bank estimates 70 million more people could fall into extreme poverty globally, with Pakistan’s poverty rate already at 24.3%. In the U.S., low wages and job losses threaten the middle class, while the wealthiest 1% control over 63% of global wealth. X posts lament shrinking economies and declining birth rates, signaling long-term stagnation.

Parallel: Both crises exacerbate wealth gaps and thrust millions into economic hardship, straining social cohesion.
Difference: Modern welfare systems and global aid networks may cushion some impacts, but polarized politics complicate recovery efforts.

Lessons and Warnings

The parallels between 1929 and 2025 are sobering: speculative bubbles, fragile financial systems, policy errors, and societal strain. Yet, differences—stronger banking regulations, flexible monetary systems, and global awareness—offer hope for mitigating a full depression. Bankers and governors sounding alarms in 2025 echo the ignored skeptics of 1929, urging vigilance. As X users speculate about a “reset of capital flows” or a “Great Depression 2.0,” the lesson is clear: ignoring systemic risks invites catastrophe.

To avoid 1929’s fate, policymakers must balance inflation control with economic stability, regulate speculative excesses, and address inequality. The takeaway is to stay informed, diversify investments, and advocate for policies that prioritize resilience over short-term gains. History doesn’t repeat, but it rhymes—2025 may be our chance to break the cycle.

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WHAT A FARCE THE CANADIAN ELECTIONS WERE!! MARK CARNEY TACTICS!!

POST TAKEN FROM TWITTER – Marc Nixon@MarcNixon24

If you think this ballot is long — just wait. The same clowns who made a joke of our democracy are planning to double it with 200 names on the ballot. Their goal? Sabotage Pierre Poilievre’s by-election.

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The End of Free Speech in Canada!!

Ezra Levant @ezralevant

Mark Carney, Canada’s new prime minister, says he’s coming for American social media platforms that have too much free speech. Trump and Vance pushed back on the UK and Germany for their censorship plans. Will they push back against Carney next week?

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