Friday, September 18, 2020

It's all connected: Fores fires, courts and the banking system


It's all connected: Fores fires, courts and the banking system

I had planned in this post to write and talk more about the bail-in program that the Canadian government and the banks have in store for us should any of the banks in Canada be threatened with default. You know, fail. Be forced to close down for lack of liquidity of funds. However, as the wildfire smoke from California, Washington and Oregon is getting in my eyes at the moment I want to clarify my position concerning the environment. Because I was asked about it by a friend. In my younger days (when I was in my sixties and seventies and even eighties instead of nineties) I gained a bit of a of a reputation for participating in at least four of the most bitterly contested blockades against logging companies in British Columbia. And wrote about them. My friend wanted to know why I just didn’t stick to writing about environmental stuff surrounding the deforestation of BC province as I was experienced at that instead of trying to write about the banking systems which was boring and difficult. 


I tried to explain that I am doing this because our banking system is extremely important. It’s where the logging companies get their loans, the bank’s loans figures determine why and how they pay little or no taxes, while the true environment coast of clear cutting vast swaths of mature public forests is never mentioned on the books. It was in the courtrooms of BC when I was arguing that the vast majority of BC citizens loved their public forests and that as a right, we were all the rightful owners of BC public lands. As the true owners of these lands there was no real reason for the courts not to defend our rights. But instead of defending the people’s right to protect our own properties against a renter who was destroying the property, the BC judges interpreted the law to read that a renter (the logging companies) had the right to use the property as they wished, which meant they could do what they very well dammed pleased with it. And furthermore the judges would continue to give out injunctions in favour of the logging companies which meant any citizen trying to stop this travesty of the law as a crime against the court, not the logging companies. Anyone who tried to interfere with the logging corporations would be charged with contempt of court. And I began to see that this fight for public land was the same struggle as the one going on right now in Canada which is our right to insist that our public bank, The Bank of Canada, be taken away from the invaders of private international users and be restored to its original mandate, that of a public bank for the welfare of Canadians. 


I will get to that soon, but the immediate concern is that the Canadian government has set up the laws and rules for bail-ins for looting people’s bank accounts should the private banks in Canada, through their own greed, face bank failure. The very planning for bail-ins comes from the central bankers in Europe and involves most western banks. It is not a one off Canadian thing. But for this post I just wanted to try to make the connection between the smoke we presently are swallowing from the wildfires south of the border to our economic system (and theirs) composed of the CEOs of corporations, judges, heads of government and private banks. The Bank of Canada is the worst in my opinion ,as it parades as a public bank, created specifically for the Canadian people which it is not. It is acting like a private bank. More on this and bail-ins next time.

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