Enlist in the war against the banks and for the freedom of t

[Oscar]

Enlist in the war against the banks and for the freedom of the world

[ http://www.victoryfortheworld.net/canada_action.html ]

WATCH: Commentary by Paul Hellyer - 7 min.
[ http://www.youtube.com/watch?v=xUOng2xYR14 [

- - - -

AN OPEN LETTER TO FINANCE MINISTER FLAHERTY

We, the undersigned, firmly believe that 2015 is far too late to balance the federal budget. Powerful stimulus is essential now, to revive the economy and get it running on all cylinders. All that is necessary is to use the power given to you by the Canadian Constitution. There is a precedent.

From 1939 to 1974 the Bank of Canada provided the Canadian government with large sums of money at near zero cost. This got us out of the Great Depression, helped finance World War II, and many great post-war projects like the St. Lawrence Seaway and the Trans-Canada highway, as well as contributing to the establishment of our Medicare and social security systems which were the envy of the world.

All was well until 1974 when, without government approval, the Bank of Canada abandoned its shareholders, the Canadian people, and adopted the rules of the Bank for International Settlements. The Bank for International Settlements (BIS) is the de facto headquarters of the international banking cartel, a club of immensely rich con artists who have persuaded kings, queens, emperors and politicians to give them licenses to lend the same money to 15 or 20 different individuals, companies, or governments simultaneously, and collect interest from each one of them – a global fraud without equal.

This international Ponzi scheme has been so successful that big banks now control the ultimate destiny of trillions of dollars in assets which they acquired with virtual (debt) money that isn’t worth more than about five cents on the dollar – not much more than monopoly money.

Since the Bank of Canada joined the BIS club in 1974 it’s been all downhill for the Canadian economy. In 1974 there were no food banks in Canada. Today there are 1,921, and the need is still growing. Then, Medicare was well funded and tuition rates were low. Now there are long waiting lists for elective surgery, and tuition fees are far too high.

This decline in our welfare since 1974 is the direct result of the Bank of Canada adopting two BIS edicts. First the adoption of the ideas of Milton Friedman, especially monetarism. Second, the Bank of Canada agreed to stop providing the federal government with low-cost money as it had been doing for 35 years. Instead, the government has had to borrow in the market and pay as much as 20% interest.

The first of these decisions resulted in using high interest rates, which are the clumsiest of all possible tools to fight inflation. The terrible recessions of 1981-82 and 1990-91, that created both social and economic chaos proved that the cure was far more dreadful than the disease.

The Bank of Canada’s second decision to stop providing low-cost money has resulted in monstrous increases in government debt at all levels. Between 1974/75 and 2010/11 Canadian taxpayers paid 1 trillion, l00 billion dollars interest on the federal debt alone – more than $2,000 each year for every man and woman in the workforce – and all of it unnecessary. And the debt remains. There is no way to pay it off!

The system is broken! John Maynard Keynes and Milton Friedman both erred when they assumed it was self-regulating. It has to be managed by governments on behalf of all the people. Our government has to use its sovereign power to liberate us from being slaves to debt.

We therefore demand that you table your austerity budget – an idea that was tried in the 1930s and failed miserably – and adopt a new deal for Canadians. So that you will know exactly what we mean and want, we have spelled it out for you as follows.

A SOCIAL CONTRACT BETWEEN THE GOVERNMENT AND PEOPLE OF CANADA
[ http://www.victoryfortheworld.net/canada_action.html ]