Wednesday, December 19, 2018

Santa Claus and the Petro dollar


 

While we are all trying hard to be politically correct in extending good wishes to friends and neighbours  for the solstice season, it is actually those  flashing credit cards  that will portend our future.  It’s the economy.  It’s debt. It’s compound interest on the loans.  It’s the fact that compound interest on federal, provincial and personal debt is growing faster than the principal can be paid down.  It’s the fact that the Western world is tied to the Petro dollar and the Petro dollar is being downgraded faster than the Central banks can print the money.  It’s the fact that much of the other half of the world is working feverishly toward building their own banking systems based on gold. It’s the fact that we are in a fierce war with China and Russia for cyber dominance and occasionally try to pretend that it is actually Iran causing most of the trouble for the world while Israel cheers this idea on.  Israel is trying desperately to get the US to attack Iran.  Or Syria.  Or anybody who would suggest that they were mistreating the Palestinians.  Saudi Arabia knows for a fact that the US will not let them go to the dogs no matter how many journalists they chop up as the Petro dollar would wobble even faster and anyway, most of US Congress loves their Saudi money.  And Canada?  

 

Oh, Canada.  We are sinking under the tide of neoliberalism.  Justin Trudeau means well.  He is compassionate and tries hard.  But he is under the thumb of the Banksters of Wall Street and Brussels just as Greece is, just as Italy will be, just as Cypress was.  And working people in other countries who are all in the same clutches of the one percent and are seeing the truth of the matter and taking to the streets.  The yellow vests.   They are acting out the rage of the French people at their slow economic strangulation. But Canada could go a different way.  We could demand that our politicians cut us loose from the financial noose of the international banking system and give us back our own public bank.  It can be done.  A lot of knowledgeable people who have studied the matter think so.  We could do this.  Let’s learn more about how we could recapture our banking system and our sovereignty.  If we regained our own banking system our taxes would go down and prices would stabilize.  So would our currency.  I will be investigating and writing more about this in the New Year.  Next time and I wish you all a Merry Christmas.

Tuesday, December 11, 2018

The Treason of Pierre Trudeau



There isn’t a lot we can do about the yellow vests in France or the Brexit mess in England. But what about the US stock market volatility and the plunging Canadian dollar?  Can we Canadians have any effect on the direction of these financial entities?  Well, probably not much for the Canadian dollar at the moment as Canada has just arrested the CEO of Huawai which is the second or third largest telecom companies in the entire world.  The fact that the CEO and the company are Chinese and that this particular CEO (Meng Wanzhou), is also the daughter of the founder of the company and was arrested at the request of the US, is extremely problematic for Canada. China has vowed dire consequences for Canada if the CEO is not released immediately.

 

It seems however, that Meng Wanzhou is in the process of being extradited to the US.  However, Justin Trudeau’s government, recognising that Canada is but a vassal state of the US and really has no choice in the matter but to do as the Americans bid.  It was rather painful watching Justin Trudeau denying this is so.  And you know what?  I don’t like Canada being in the position of being a US vassal.  Because we don’t have to be.  And we wouldn’t be if Justin Trudeau would tell the international bankers that control our country as well as the US and Europe to go, well, you know, to hell.  We could do this if the son of Pierre would get off his kick of turning Canadian expenditures over to something he and his advisers just made up called the Canadian Investment Bank, which is just another name for more of the capitalistic privatization crap that we are all mucking about in.  Trudeau must be vigorously encouraged to take a good look at how his father destroyed our truly independent banking system by simply ignoring the Canadian Bank Act and turning to foreign economists under the spell of foreign international  private banks to tell him how to manage Canada’s finances. 

 

It was Pierre Trudeau who gave away our public Bank of Canada and turned it into a private banking system, whatever his motives were, his actions were highly successful.  Just the compound interest that has accrued since privatizing our public bank is gut wrenching.  Before becoming privatized, our public bank of Canada gave both federal and provincial governments loans with little or no interest.  The international private banks that took over charge exorbitant rates coupled with their very clever compound interest.  And this is ruining not only Canada but other countries caught under the Petro dollar and compound interest.  And what is so ironic, is this can be fixed so simply.

 

The group COMER has filed law suits to have what used to be our public bank reinstated as such. This law suit has enormous ramifications not only for Canada, but for other nations trying to get out from under the Petro dollar and international bankers. Google COMER and find out about this group’s efforts to restore Canada’s banking system to its former glory. It can be done. What happened in court?  A hint… we may all be wearing yellow vests before this is over with. Next time.


Monday, November 26, 2018

The Petro dollar collides with the Trudeau legacy

 

Now that there seems to be a pullback in a US shooting war with China we can take a deep breath and soldier on, unless of course, the Russia and Ukraine war of words over who controls the waters of the Kerch Strait starts World War Three.  Otherwise we can continue the exploration of how a simple change in the way our formally public Bank of Canada might be rescued from its capture by the international private banking systems.  As I have mentioned before, it was under Pierre Trudeau’s watch that our public banking system went private.  When it was public, all capital expenditures such as construction, highways, dams and railways were serviced at little or no interest by our public Bank of Canada.  This was what the bank was created for in the first place.  An excellent history of this transition from Canadian public banking to private banking is recounted  by Joyce Nelson in her book: Beyond Banksters, Resisting the New Feudalism.  This slender paper back volume is written with clarity in plain English.  For all who are curious about how our public bank was whisked out from under us by international financiers and replaced by the private banks that are swindling us daily, this is a valuable book.  It also informs us about an organization named COMER (Committee on Monetary and Economic Reform) that is affording us some hope of getting our public Bank of Canada back.

The Comer committee has launched constitutional challenges to the way that the Bank of Canada was arbitrarily changed from that of a public bank to one subject to the private international banking system.  In her book, Nelson tries to give Trudeau some slack by suggesting that he may not have been aware, or fully aware, of how this transitioning from public to private banking would affect the Canadian economy.  I rather disagree on this point.  Pierre Trudeau was a very smart man.  He must have known that the private international banking systems highly favoured austerity measures for the people. They even said so.   This would keep inflation in check, they claimed.  Now the private banks globally suck money from cut and demolished social programs that benefit ordinary people into their own coffers along with compound interest on the loans.  So how are the legal Comer challenges coming along?


Not so good, at least on the legal front. On May 31, 2017 Comer released a statement advising that the Supreme Court of Canada refused to hear the case of the people who want our public banking system back as opposed to the blood sucking private international banks, on the grounds that it was a political matter. Okay, so let’s get political.  If more Canadians learn that we do have a public banking system that would release us from our ever growing public debt, wouldn’t they be in favour of getting this kind of banking system reinstated?  We should start asking politicians what they know about our history of public banking, and what do they think about trying to reinstate our public Bank of Canada.  And we might start with Justin Trudeau.  He is, at the moment, going down the rabbit hole of another kind of investment bank for public funds. Private, of course.  Like father, like son. Next time.