My name is D Alex Millar. I’ve taught middle school in a First Nations community in northern B.C. and high school math at a private school in South Surrey. I’m also an engineer who has worked at two software companies in the Vancouver area. I’m running as an independent candidate because I’m passionate about an issue the big parties are ignoring: money creation.
The way money is created affects jobs and the economy. It affects the affordability of housing, education, retirement, and childcare. It affects other things too. But most of all, it affects equality.
Who gets newly-created dollars?
The Mint? The Bank of Canada? TD, Royal, and Scotia? The answer is not entirely clear, but it is definitely not the poor. So it’s not hard to deduce that the current system is eroding equality: the spiritual foundation of democracy.
How many Canadian dollars exist? How many are being created?
No one knows! Even StatsCan measures the number of Canadian dollars in three different ways: M1, M2, and M3. Our money lacks transparency.
Over the last 30 years, the number of loonies (as measured by M2) has grown exponentially, doubling every eight years (based on StatsCan table 176–0025.)
As more and more loonies are created, the value of existing loonies decays. Our money lacks integrity. This is a problem because it reduces the incentive to save for the future, which reduces the incentive to think about the future. Today, more than ever, we need to think about the future.
This isn’t a loonie-specific problem. The same faults exist with the Euro, the Yen, and the US dollar. Other than revamping the current system, which seems unlikely, what options do we have?
Full disclosure: I own bitcoin. I stand to gain through mainstream acceptance.
Bitcoin is a new kind of money. It is less than seven years old. It has some cool features:
- Every single bitcoin transaction is recorded on a world wide ledger, which is publicly viewable forever. Bitcoin is transparent.
- Bitcoin’s open source code explicitly explains how there will never be more than 21 million bitcoins. Bitcoin has integrity.
It’s true: early bitcoin adopters have seen their wealth multiply. But no one can create bitcoin for free. In fact, anyone with electricity and a computer can create bitcoin, and for this exact reason, the profitability of creating bitcoin is very, very low.
Jobs and The Economy
Bitcoin allows us to send and receive money anywhere in the world, instantly, and for almost free. Bitcoin upgrades phones to include debit card machines. With access to global markets and without fees charged by credit card companies, countless business opportunities will open up, and work will need to be done. It’s about jobs!
The integrity provided by the 21 million bitcoin limit means the value of each bitcoin is expected to grow. Whether you’re saving for a home, an education, to retire, or to start a family, bitcoin offers hope. (Bitcoin is new and its price is volatile. Don’t put all your eggs in one basket.)
Canadians enjoy freedom of speech and freedom of religion, I’m running for for parliament because I believe we need freedom of money.
For more information, visit my YouTube channel: www.youtube.com/alexmillar.