Monday, August 24, 2015

Political Commentary

Debt Servitude

Is Canada on its knees to the IMF?

Staff/Submitted photos

 

he IMF? Bank of Canada? Our major politicians obviously have never heard of them. At least it didnít come up in the debates.

 

No, the major thing that came out of the first national leaderís debate was that Tom Mulcair got Harper to admit that a recession actually existed. Or, kind of, as Harper seemed to take it back later.


Sure, all three opposition parties said some good things. However, in my opinion, few of these good things will come to pass even if elected unless our Bank of Canada is rescued from the international bankers. And I doubt that even Elizabeth May will speak out about this, although she is very knowledgeable.


But why would she not speak out? Politicians like Elizabeth May, who are rare, and who want to serve the people, may underestimate the capacity of the Canadian public to listen and understand relatively complex issues. This banking issue is the most important issue before us, as the droughts, the burning and flooding of our lands, and the non-stop global killer winds wonít lessen in any meaningful way until we get freed from the private bankersí stranglehold.


This tiny group of people sit atop a pyramid of misery for increasing numbers of the worldís population and they are powerful. How did they get so powerful? Compound interest. On everything they touch. I mentioned last time that I would tell you about a recent ruling brought before the courts by a group called COMER.

 

COMER (Committee for Monetary and Economic Reform) has turned to the courts for help in trying to overturn Pierre Trudeauís decision in 1974 to turn over our Bank of Canada to the private banks. The first judge to hear COMERíS case characterized the claims as follows and were reiterated by Mr. Justice Russell in April, 2014 in federal court:

1.The Bank and Crown refuse to provide interest free loans for capital expenditures;
2.The Crown uses flawed accounting methods in describing public finances, which provides the rational for refusing to grant interest-free loans, and
3.These and other harms are caused by the Bank being controlled by private foreign interests. (my italics) date:20140424, Neutral citation 2014 FC 380, file numbers T-2010-11

The first judge struck down COMERíS claims, but Mr. Justice Russell saw it differently on appeal and ordered: (para 76 same hearing)

 

ďSo, as regards the declaratory relief sought in this Claim, it is my view that the matters raised could be justifiable and appropriate for consideration by the CourtÖThere is a difference between the Court declaring that the Government or the Governor, or the Minister, should pursue a particular policy and a declaration as to whether the policies they have pursued are compliant with the Bank of Canada and the Constitution. The facts are pleaded on these issues. Subject to what I have to say about other aspects of the Claim, the Plaintiffs should be allowed to go forward, call their evidence and attempt to make their case.Ē


So wow. The Bank of Canada is in court, fighting for its life, for the right to go back to serving the people. More next time.


Please click on THIS LINK to watch Part 5 of my video series on the Canadian Banking System. Please also read accompanying text below.
 

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