Sunday, July 12, 2015

HOW PIERRE TRUDEAU TURNED US INTO DEBT SLAVES



HOW PIERRE TRUDEAU TURNED US INTO DEBT SLAVES

Click on the link above to watch Part 3 of my video series on the Canadian Banking System. Please also read accompanying text below.
Trudeaumania was just gearing up when I immigrated to Canada in late 1966. I, too, was impressed with Trudeau. He was intelligent, articulate, with liberal ideas. And as Prime Minister, Trudeau repatriated the Canadian  Constitution and told the morals’ police to stay out of people’s bedrooms. But then…but then. As Anthony’s famous speech in Shakespeare’s play Julius Caesar reminds us… “the evil that men do live after them while the good is often interred with their bones. So let it be with Caesar.”
But somehow this worked backward for Trudeau. Many Canadians still think  highly of Pierre Trudeau, but in 1974 he did one terrible thing that changed the lives, for present and future, of all Canadians, for the worse. Trudeau gave the leading operations of the Bank of Canada over to the private banks operating in Canada.
The Bank of Canada was first established by Prime Minister Richard Bennet in 1935 as a private central bank, but was then nationalized by William Lyon Mackenzie King in 1938. By nationalizing the bank, Mackenzie King meant for it to belong to the people so the Canadian government could borrow funds with little or no interest for capital expenditures. The mandate of the newly nationalized Bank of Canada was to act as the banker to the government and to manage the public debt. As Mackenzie King famously said: “Once a nation parts with the control of their currency and credit, it matters not who makes that nation’s laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most sacred responsibility, all talk of sovereignty of parliament and of democracy is idle and futile.”
So the Bank of Canada was nationalized in 1938 and the government could now borrow money with little or no interest. And it worked. The Canadian government built freeways, public transportation systems, subway line, airports, the St. Lawrence Seaway and funded a national health care system and the Canada Pension Plan. But then Trudeau, under the influence of the international financial group called Basel’s
Committee’s Recommendations (The Basel Committee on Banking Supervision) made the decision to halt the borrowing of money from the Bank of Canada, and instead, chose to borrow from the private banks who instead of lending to the government at no interest, or low interest, introduced higher interest rates along with compound interest.
All banks know very well the magic of compound interest. And Pierre Trudeau must have known that the mounting compounded national debt would lead to Canadians eventually owing a dollar fifty for every dollar of their disposable incomes. After all, he studied economics at the London School of Economics. Surely the professors there knew about compound interest.
So Pierre Trudeau, instead of feeling blessed that Canada, unlike the US, had a nationalized central bank, signed our bank away to the private banks. Couldn’t Trudeau, such an educated man, surmise that citizens in a few years would be struggling to make car payments and meet rent and mortgages and student loans and to buy healthy food while last year’s profits for the big five (that’s Royal Bank, TD Bank, Scotiabank, Bank of Montreal and CIBC amounted to $31.7 billion?) If he did, he didn’t care. But it doesn’t have to be this way. It really doesn’t. Our Bank of
Canada is still there. Next time.

51 comments:

  1. Anonymous3:10 AM

    Well put! Ph.D student here and feeling as though I can not come up for air due to student loans (AND INTEREST!!!!).
    Thanks for the post.

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  2. Anonymous4:00 PM

    Thank you Betty for posting this article. Have u ever seen OH Canada our Bought and sold out country? If not, you will die laughing at the interviews done with politicians. Cheers

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  3. This was Fraud and there must be a way to change it back. I know that CANADA now is not a country but a private CORPORATION owned by the central banks.

    ReplyDelete
    Replies
    1. Yes this is so true.,...it is one huge fraud and it has to be stopped or we are finished. There is a lawyer that is suing the central Bank of Canada in the Supreme court for this very thing....check it out..he is Rocco someone or other ...you can find it on line and follow the outcome.

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  5. The Bank of Canada still lends to the government the same way it has since 1974. It did not stop or change in 1974. This table shows all the Bank of Canada's lending every month back to 1935. http://www5.statcan.gc.ca/cansim/a26?lang=eng&id=1760010&p2=33 Click on add/remove data to extend the time covered.
    All the projects you mention except the CPP were funded by taxes, private borrowing, and borrowing from the Bank of Canada. Borrowing from the Bank of Canada has never been much more than 1/4 of total borrowing. The CPP has always been completely funded by preniums paid by employees and employers, and the income from its investments.

    ReplyDelete
    Replies
    1. That should read "The Bank of Canada still lends to the government the same way it has since 1935"

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    2. How much money has been paid in interest to these private banks? Why would a country have to borrow from private lenders and way? The country is worth far more then the private banks. Doesnt make sense.

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    3. No this is incorrect....we are now charged interest (compound) on all money they create and we were not before....a central bank will bring the entire economy down worldwide....like it is doing presently. wake up people we are being scammed. Every penny of our income taxes goes to these international bankers and could be spend on maintaining infrastructure within Canada and provide much needed employment. ...they make money out of nothing and charge interest????? we should do that for ourselves not a private cartel of banksters whom have already raped the entire planet with their money schemes.

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  26. Do you need a financial help? Are you in any financial crisis or do you need funds to start up your own business? Do you need funds to settle your debt or pay off your bills or start a good business? Do you have a low credit score and you are finding it hard to obtain capital services from local banks and other financial institutes? Here is your chance to obtain a financial services from our company. We offer the following finance to individuals-
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    ReplyDelete
  27. Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

    BORROWERS APPLICATION DETAILS


    1. Name Of Applicant in Full:……..
    2. Telephone Numbers:……….
    3. Address and Location:…….
    4. Amount in request………..
    5. Repayment Period:………..
    6. Purpose Of Loan………….
    7. country…………………
    8. phone…………………..
    9. occupation………………
    10.age/sex…………………
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    Regards.
    Managements
    Email Kindly Contact: (urgentloan22@gmail.com)

    ReplyDelete
  28. Do you need Finance?
    Are you looking for Finance?
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    ReplyDelete
  29. Do you need Finance?
    Are you looking for Finance?
    Are you looking for a money to enlarge your business?
    We help individuals and companies to obtain loan for business
    expanding and to setup a new business ranging any amount. Get a loan at affordable interest rate of 3%, Do you need this cash/loan for business and to clear your bills? Then send us an email now for more information contact us now via Email:maxcreditfinance@googlemail.com

    ReplyDelete
  30. It may sound fake and unbelievable but this is my testimony i never believed in online
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    what to do before i decided to give it a try i came across a loan lending
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    Contact: trade.funding_firm@usa.com

    ReplyDelete
  31. A big thank you to Trade Funding Firms for saving my son life i never would have done it without your financial help i almost gave up on life as my only child and son was lying half dead in the hospital and there was no money for me to run the surgery that we bring my only loving son back to life but God use a United State loan company who has branches almost all over world they help me with the loan i was looking for and now my son is back to life save and sound with me thanks Trade Funding Firms you the best

    Please love once if you are in need of a loan like i was, you can save your self the stress and contact them Contact:

    Contact: trade.funding_firm@usa.com

    ReplyDelete
  32. good day, my name is Ludmila i am a citizen of the united state of america i want to testify of the good loan lender who showed light to me after been scammed by 4 different internet international lender, they all promise to give me a loan after making me pay alot of fees which yield nothing and amounted to no positive result. i lost my hard earn money and it was a total of 8,000usd. one day as i was browsing through the internet looking forsterated when i came across a testimony man who was also scammed and eventually got linked to a legit loan company called Jasmin Noor loan company (jasminnoorloancompany01@gmail.com) where he finally got his loan, so i decided to contact the same loan company and then told them my story on how i have been scammed by 4 different lenders who did nothing but to course me more pain. i explain to the company by mail and all they told me was to cry no more because i will get my loan in their company and also i have made the right choice of contacting them, so if there is anyone who need a loan should email them

    ReplyDelete
  33. Good news!! loan seeker !!!

    My name is Alfred Daniel Nehemia from bali Indonesia, bread CEO Daniel Bakery, First of all I would say that God should bless Lady jane for introducing me to an honest and real lending company, I had an Idea of start my own business because getting a job is not easy so I went to the bank to get a loan (Rp800 million) but they all asked for a collateral euivalent to my loan amount but the only property I have is a motorcycle( Bike), which makes me feel disappointed

    So started looking for an online loan company but mostly are scams, I almost lost hope and confidence until I read an article about lady jane but I did not contact lady jane until I saw online search called craigslist. org where I saw the Dangote Loan company ad so I decided to apply and contact lady jane as well

    Dangote Loan Company provides loan with interest rate of 2% and not less than Rp20 million to any any country

    I follow the procedure there, give all that is requested, I am also very afraid, but for the glory of God, my prayers were answered and my loan money transferred to me without any problems.

    so do not waste your time contact Dangote loan company Via dangotegrouploandepartment@gmail.com

    You can also search on google for more information, this is real and very real or contact me also via email at alfreddaniel324@gmail.com from indonesia and also on BBM: 7AEA8FA5

    ReplyDelete
  34. i am alex i was in need of a loan to pay my debt and i was seeking for a legit loan company that could help me with a loan of $ 750 thousand dollars but i was decline of getting the amount i needed and along the line i was introduced to a private loan lender Mrs Jasmin Noor which i tried my best to give a try and i was asked to come and pay a fee which i refused because i was scared to be scammed for the second time because of my bad experience i have by trying to get this very important loan to pay my debt but Mrs Jasmin Noor gave me her word of advice and told me i am in the right place of getting a loan and i was lucky for the loan i applied for. contact via mail (jasminnoorloancompany01@gmail.com)

    ReplyDelete
  35. Halo, nama saya ialah Victoria Alberto, mangsa penipuan di tangan peminjam palsu. Saya telah kehilangan kira-kira RM 6,000 kerana saya memerlukan modal besar sebanyak RM 80,000. Saya hampir mati, saya tidak mempunyai tempat untuk pergi. perniagaan saya dimusnahkan, dan dalam proses saya kehilangan anak saya. Saya tidak dapat berdiri lagi. Pada bulan Mac 2017, saya bertemu seorang rakan yang memperkenalkan saya kepada seorang ibu yang baik, Puan Olivia Daniel, yang pada akhirnya membantu saya mendapatkan pinjaman dalam sebuah syarikat. ibu yang baik saya ingin menggunakan peluang ini untuk mengucapkan terima kasih, dan semoga Tuhan terus memberkati anda. Saya juga ingin menggunakan peluang ini untuk memberi nasihat kepada rakan-rakan malaysia, bahawa terdapat banyak penipu di luar sana, jadi jika anda memerlukan pinjaman, dan ingin mendapatkan pinjaman cepat, hanya daftar melalui Puan Olivia Daniel melalui email: (oliviadaniel93@gmail.com ). anda juga boleh menghubungi saya melalui e-mel ini: (victoriaalberto78@gmail.com). jika anda mempunyai sebarang keraguan. sila dia satu-satunya orang yang boleh dipercayai dan boleh dipercayai.
    Terima kasih.

    ReplyDelete
  36. ICC Mortgage And financial Services,Is a sincere and certified private Loan company approved by the Government,we give out international and local loans to all countries in the world,Amount given out $2,500 to $100,000,000 Dollars, Euro and Pounds.We offer loans with a dependable guarantee to all of our clients. Our loan interest rates are very low and affordable with a negotiable duration.
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    ReplyDelete
  37. Anonymous5:24 AM

    Hello,

    Are you in need of loan ? you can get your problems solved when you get here. I'm Mrs. Camila from Canada, last week on Monday i was seeking loan to pay my bills, so I got into the hands of different scams and I was scams by different lender, If was not for the lady who's my best friend, Isabella she introduce me to Mr John Hassan (CEO) OAK TREE CAPITAL LIMT, and he helps me with a loan of 500.000 dollars without no stress. So my good people of Canada , you can contact him via e-mail: oaktreecapitallimt@gmail.com And do not forget to tell him I submit you to his company.

    ReplyDelete
  38. Worth sharing Testimony On How I Got a loan from a reliable loan source via email:
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    Hello everyone, I am Abigail Diana from Montana United States of America, am writing this Testimony because am really grateful for what Martin Luciano World Wide Loans Financial Services (via email: martinlucianoworldwideloans@hotmail.com) did for me and my family, when I thought there was no hope he came and make my family feel alive again after i applied Two times from various loan lenders who claimed to be lenders, i thought their lending was real and i applied but they never gave me loan instead they scammed me and left me frustrated until a friend
    of mine introduce me to Martin Luciano World Wide Loans Financial Services (with email: martinlucianoworldwideloans@hotmail.com), who promised to help me with a loan and he really did as he promised without any form of delay, I had doubts but i never seize to believe. I never thought there are still reliable loan lenders in the internet until i met Martin Luciano, who really helped me with my loan and changed my life for the better. so if you are out there looking for a legit loan or funding for your projects, I would advise you to contact Martin Luciano World Wide Loans Financial Services via email: martinlucianoworldwideloans@hotmail.com and you would be glad you did.

    ReplyDelete
  39. I’m Charles David by name, i want to use this medium to alert all loan seekers to be very careful because there are scam everywhere, Few months ago I was financially strained, and due to my desperation I was scammed by several online lenders. I had almost lost hope until a friend of mine referred me to a very reliable lender called Dr Purva Pius ( A God fearing man) who lend me a loan of $237,000 under 72 working hours without any stress. I explain to the company by mail and all they told me was to cry no more because i will get my loan from this company and also i have made the right choice of contacting them i filled the loan application form and proceeded with all that was requested of me and to my shock I was given the loan, If you are in need of any kind of loan just contact him now via: {urgentloan22@gmail.com}

    I‘m using this medium to alert all loan seekers because of the hell I passed through in the hands of those fraudulent lenders.

    Thanks you Dr Purva Pius Loan service for your help.

    ReplyDelete
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