Let’s use our publicly-owned Bank of Canada to its full potential as per the Act of 1938
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One of the most important legal cases in Canadian history is slowly inching its way towards trial. Launched in 2011 by the Toronto-based Committee on Monetary and Economic Reform (COMER), the lawsuit would require the publicly-owned Bank of Canada (BoC) to return to its pre-1974 mandate and practice of lending interest-free money to federal, provincial, and municipal governments for infrastructure and healthcare spending.
Here's what the BoC case is all about...it clearly explains in point 18 of the "Business and Powers of the Bank":
The Bank may
(j) make loans to the Government of Canada or the government of any province, but such loans outstanding at any one time shall not, in the case of the Government of Canada, exceed one-third of the estimated revenue of the Government of Canada for its fiscal year, and shall not, in the case of a provincial government, exceed one-fourth of that government’s estimated revenue for its fiscal year, and such loans shall be repaid before the end of the first quarter after the end of the fiscal year of the government that has contracted the loan;
See "Business and Powers of the Bank" in link below
Voici ce qu'est le dossier de la Banque du Canada; expliqué clairement au point 18 dans le lien plus bas. Voir section intitulée « Opérations de la banque » :
La Banque peut
j) consentir des prêts au gouvernement du Canada ou d’une province, à condition que, d’une part, le montant non remboursé des prêts ne dépasse, à aucun moment, une certaine fraction des recettes estimatives du gouvernement en cause pour l’exercice en cours — un tiers dans le cas du Canada, un quart dans celui d’une province — et que, d’autre part, les prêts soient remboursés avant la fin du premier trimestre de l’exercice suivant;
Voir « Opérations de la banque » dans le lien suivant :
When asked after the October procedural hearing why Canadians should care about the case, Galati quickly responded: “Because they’re paying $30 or $40 billion a year in useless interest. Since ‘74, more than a trillion to fraudsters, that’s why they should care.” (COMER says the figures are closer to $60 billion per year, and $2 trillion since 1974.)
The end result has turned our citizens into debt-slaves, this has lead us all into neo-liberal policies and the all too familiar term “austerity”, read on to understand the end-game unless we wake-up soon!
Neo-liberal policies and its austerity measures can only work if a nation is indebted to private interests. The issuance of interest-free loans by the publicaly-owned BoC as was the case in Canada from 1938 & 1974 solved this problem, no debt to private interests therefore no need for these public crushing policies.
Neo-liberalism is a tool for private interests to grab state owned assets (on the cheap) which results into further impoverishment of the citizens of that country..., it is a scam in slow motion, pure and simple.
In essence, the “money-gods” of this world want monopolies and that is the end result of capitalism. IF YOU HAVE EVER PLAYED THE GAME “MONOPOLY”, THEN YOU KNOW THAT THERE IS ONLY ONE WINNER. It is a form of feudalism when pushed to the end. They use governments to create barriers to entry where they see competition and push for freedom once monopolies are achieved.
The fact that we are imposed “austerity” and in turn theft of our collective sovereignty should outrage us all, our governments no longer answer to us the people of this country.
For more details on neo-liberalism, please see the following link
For those interested, here’s the official petition launched by Elizabeth May of the Green Party of Canada that is (in my opinion) being deliberately muddied by our government.
Information about this case is available in the following link. Search for court number T-2010-11.
- Prime Minister of Canada
- Prime Minister of Canada/Premier ministre du Canada
For the benefit of all Canadians, let’s use our publically owned Bank of Canada to its full potential as per the Act of 1938, and as we did prior to 1974.
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