Petition update

Understanding why Canada joined the BIS, for “monetary and financial stability”

Jean-Pierre Richer
Longueuil, Canada

Mar 10, 2017 — The Bank of International Settlements (BIS), the Financial Stability Forum (FSF) and the International Monetary Fund (IMF) were all created with the cognizant intent of keeping poorer nations in their place which has now expanded to all nations in that these financial institutions largely succeed in over-riding governments and constitutional orders in countries such as Canada over which they exert financial control. COMER states that the meetings of the BIS and Financial Stability Board (FSB) (successor of FSF), their minutes, their discussions and deliberations are secret and not available nor accountable to Parliament, the executive, nor the Canadian public notwithstanding that the Bank of Canada policies directly emanate from these meetings. These organizations are essentially private, foreign entities controlling Canada's banking system and socio-economic policies.

Canada’s debt shot up only after 1974, that was when the Basel Committee was established by the central-bank Governors of the Group of Ten countries of the Bank for International Settlements (BIS), which included Canada. A key objective of the Committee was and is to maintain “monetary and financial stability.” To achieve that goal, the Committee discouraged borrowing from a nation’s own central bank interest-free and encouraged borrowing instead from private creditors, all in the name of “maintaining the stability of the currency.”

The irony today is that the same group that we joined in order to maintain “monetary and financial stability” is now saying that Canada is showing early warning signs of financial crisis, see link below. One has to ask; could the BIS be responsible for our current economic woes? For you to decide…

To reiterate, the COMER suit goes beyond simply demanding that the Bank of Canada return to its former practice and original mandate (which was never repealed). It goes to the heart of the scheming of finance capital in the early 1970s when Western governments were becoming increasingly active socially and interventionist in their economies. COMER "alleges that the Bank of Canada, the Queen, the attorney general, the finance minister, and minister of national revenue are engaging in a conspiracy with the International Monetary Fund (IMF), the Financial Stability Board (FSB), and the Bank for International Settlements (BIS) to undermine Canada's financial and monetary sovereignty."