Just to follow up on the Banking System in Canada VS the US. , I found this on Wikopedia.

Prime Minister R.B. Bennett called a Royal Commission in 1933 and it reported in favour of a central bank. The bank began operations on March 11, 1935, after the passage of the Bank of Canada Act. Initially the bank was founded as a privately owned corporation in order to ensure it was free from political influence. In 1938, under Prime Minister William Lyon Mackenzie King, it became a Crown corporation[2], fully owned by the government with the governor appointed by Cabinet. The responsibility for creating small bills was transferred from the finance department and the private banks were ordered to remove their currency from circulation by 1949.[3]

Even though our Central bank is under government control, I wonder if some of the same shenanigans are not being used when creating and lending money. (Lending on a 10-1 basis), this is what got us into this mess, and it does not really matter who owns the system if the same practices are evident. I hope the Bank of Canada is not involved in the same practices or to the extent as seen in the US. As Bank of Canada is Government operated it does not appear that the same practices would be evident at least from a greed perspective.