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The Bank of Canada, unlike the Federal Reserve in the U.S., is wholly owned by the people of Canada. It was nationalized in 1938 and was used very successfully to fund infrastructure, social programs, education, etc, for the benefit of all Canadians. It was used to bring us out of the depression, funded WWII, to build highways such as the McDonald-Cartier freeway, public transportation systems, subway lines, airports, the St. Lawrence Seaway, our universal healthcare system and our Canada Pension Plan.
Unfortunately, since Canada adopted economist Milton Friedman’s theory of monetarism in 1974 this has not been the case and one can track the progression of the dismantling of Canada since then.
By 1974, Canada’s accumulated federal debt since confederation was 18 billion. By 1977, after the government reduced its use of the Bank of Canada to carry public debt, it had risen 3000% to 588 billion. Today the debt is 500 billion, 95% which is compound interest owed to private banks and investors. Currently Canadian pay 37 billion approximately per year in debt servicing.
Does that explain our ballooning NATIONAL DEBT problem? As well as the never ending call from all governments for more and more of our hard earned money. So what can we do about it? Well a few Canadians have filed an action in Federal Court to restore the use of the Bank of Canada. The crime of this story is that none of the mainstream media has covered it.
COMER (Committee for Monetary and Economic Reform) on December 12th,
20011 filed an action in Federal Court, to restore the use of the Bank
of Canada to its original purpose , by exercising its public statutory
duty and responsibility. That purpose includes making interest free
loans to the municipal/provincial/federal governments for “human
capital” expenditures (education health, other social services) and / or
infrastructure expenditures .
2) The Plaintiffs state that since 1974 there has been a gradual but sure slide into the reality that the Bank of Canada and Canada’s monetary and financial policy are dictated by private foreign banks and financial interests contrary to the Bank of Canada Act.
3) The plaintiffs state that the defendants (officials) are unwittingly and/ or wittingly , in varying degrees, knowledge and intent engaged in a conspiracy, along with the Bank of International Settlements(BIS),Financial Stability Forum (FSF), International Monetary Fund (IMF) to render impotent the Bank of Canada Act as well as Canadian sovereignty over financial , monetary , and socio-economic policy, and bypass the sovereign rule of Canada through its parliament by means of the banking and financial systems. http://www.pacificfreepress.com/news/1/10573-confronting-global-finance-in-canadas-courts.html
Due to the fact that main stream media has not picked up this story, it will all sound foreign to you, If you would like to learn more on the Bank of Canada , I recommend that you take the time to watch, what I consider to be the best documentaries on the subject, Oh Canada Movie Our bought and sold out land .
* Here are three quotes from the Oh Canada Movie and the times in the movie to view them.
1) At 37min .08 sec into the movie Elizabeth May of the Green Party Leader says,
“The reality is the Bank of Canada has by legislation the ability to make what ever money needed, to loan the money to the government of Canada without interest .”
2) At 37min .50sec into the movie Late Jack Layton, Federal MP Leader of the NDP says “We never should of privatized our debt and turned it over to the private banks . We should have kept it in the hands of the Bank of Canada.”
3) At 42min into the movie, Paul Martin our former Prime Minister is asked if the Prime Minister has the ability to create debt free currency? “Absolutely”, Martin responds then adds,” But you have to ask the Question. Why don’t they?” Martin answers his own question “because its inflationary, it would drive inflation through the roof.”
I hope that last paragraph didn’t confuse you. I can’t believe he said it myself, I had to listen to it again . You see, we had very little inflation prior to 1974 while the Bank of Canada was creating debt free currency Inflation started with the borrowing of fiat fractional reserve money from the private banks . (Fiat money is Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value)
So if you are tired of paying these never ending taxes I do encourage you to research the above.
The Canadian court case the mainstream media will not cover
The Bank of Canada, unlike the Federal Reserve in the U.S., is wholly owned by the people of Canada. It was nationalized in 1938 and was used very successfully to fund infrastructure, social programs, education, etc, for the benefit of all Canadians. It was used to bring us out of the depression, funded WWII, to build highways such as the McDonald-Cartier freeway, public transportation systems, subway lines, airports, the St. Lawrence Seaway, our universal healthcare system and our Canada Pension Plan.
Unfortunately, since Canada adopted economist Milton Friedman’s theory of monetarism in 1974 this has not been the case and one can track the progression of the dismantling of Canada since then.
By 1974, Canada’s accumulated federal debt since confederation was 18 billion. By 1977, after the government reduced its use of the Bank of Canada to carry public debt, it had risen 3000% to 588 billion. Today the debt is 500 billion, 95% which is compound interest owed to private banks and investors. Currently Canadian pay 37 billion approximately per year in debt servicing.
Canada Debt Free.. is it possible?
Did you know that the Bank of Canada used to make interest free loans to municipal/provincial/federal governments before 1974 ,when the total national debt was only 18 billion dollars and you could still buy a good house for under 20 thousand, inflation was just a word. Then it seems our officials decided to stop using the Bank of Canada’s ability to print interest free money and to borrow money from private foreign banks, that love compound interest .Does that explain our ballooning NATIONAL DEBT problem? As well as the never ending call from all governments for more and more of our hard earned money. So what can we do about it? Well a few Canadians have filed an action in Federal Court to restore the use of the Bank of Canada. The crime of this story is that none of the mainstream media has covered it.
Restore the Bank of Canada – COMER VS BOC
1) Canadian constitutional lawyer, Rocco Galati , on behalf of Canadians William Krehm ,and Ann Emmett ,andCOMER (Committee for Monetary and Economic Reform) on December 12th,
20011 filed an action in Federal Court, to restore the use of the Bank
of Canada to its original purpose , by exercising its public statutory
duty and responsibility. That purpose includes making interest free
loans to the municipal/provincial/federal governments for “human
capital” expenditures (education health, other social services) and / or
infrastructure expenditures .2) The Plaintiffs state that since 1974 there has been a gradual but sure slide into the reality that the Bank of Canada and Canada’s monetary and financial policy are dictated by private foreign banks and financial interests contrary to the Bank of Canada Act.
3) The plaintiffs state that the defendants (officials) are unwittingly and/ or wittingly , in varying degrees, knowledge and intent engaged in a conspiracy, along with the Bank of International Settlements(BIS),Financial Stability Forum (FSF), International Monetary Fund (IMF) to render impotent the Bank of Canada Act as well as Canadian sovereignty over financial , monetary , and socio-economic policy, and bypass the sovereign rule of Canada through its parliament by means of the banking and financial systems. http://www.pacificfreepress.com/news/1/10573-confronting-global-finance-in-canadas-courts.html
Due to the fact that main stream media has not picked up this story, it will all sound foreign to you, If you would like to learn more on the Bank of Canada , I recommend that you take the time to watch, what I consider to be the best documentaries on the subject, Oh Canada Movie Our bought and sold out land .
* Here are three quotes from the Oh Canada Movie and the times in the movie to view them.
1) At 37min .08 sec into the movie Elizabeth May of the Green Party Leader says,
“The reality is the Bank of Canada has by legislation the ability to make what ever money needed, to loan the money to the government of Canada without interest .”
2) At 37min .50sec into the movie Late Jack Layton, Federal MP Leader of the NDP says “We never should of privatized our debt and turned it over to the private banks . We should have kept it in the hands of the Bank of Canada.”
3) At 42min into the movie, Paul Martin our former Prime Minister is asked if the Prime Minister has the ability to create debt free currency? “Absolutely”, Martin responds then adds,” But you have to ask the Question. Why don’t they?” Martin answers his own question “because its inflationary, it would drive inflation through the roof.”
I hope that last paragraph didn’t confuse you. I can’t believe he said it myself, I had to listen to it again . You see, we had very little inflation prior to 1974 while the Bank of Canada was creating debt free currency Inflation started with the borrowing of fiat fractional reserve money from the private banks . (Fiat money is Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value)
So if you are tired of paying these never ending taxes I do encourage you to research the above.
Update COMER VS BOC Jan 2015
Jan 26 2015 COMER (Committee on Monetary and Economic Reform EST. 1986) and constitutional lawyer Rocco Galati won yet another round of appeals. Galati the most prominent constitutional lawyer in the country says he does not believe Canada is a democracy any longer.
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CANADA FREE AGAIN AND THEN THE U.S. CONSTITUTIONAL CONVENTION IN AMERICA FREES ALSO THE GOOD LAW WHICH HAS BEEN ALSO CONTAMINATED VIA RICO COURTS, SEE KAREN HUDES' ET AL
ReplyDeleteU.S. CONSTITUTIONAL CONVENTION IN AMERICA FREES ALSO THE GOOD LAW WHICH HAS BEEN ALSO CONTAMINATED VIA RICO COURTS, SEE KAREN HUDES' ET AL
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