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“I do not believe in conspiracy theories. Except those that are true.”
It would be easy to assume the people suing the Queen of England, the Bank of Canada, and three ministers for a conspiracy against “all Canadians” wear tinfoil hats.
They do not. They may be conspiracy theorists, but they are also intelligent, thoughtful people who have a lawyer with a history of winning unlikely cases.
And despite the government’s best efforts to have this case thrown out, it’s going ahead after winning an appeal that overturned a lower court’s ruling to have it tossed and surviving a follow-up motion to have it tossed again.
The government has one more chance to have it thrown out through an appeal at the Supreme Court, but that has to be filed by Mar. 29 and that looks unlikely.
That means the Committee on Monetary and Economic Reform (COMER) is going to have its day in federal court.
This little think-tank 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.
No major mainstream media have covered this story (since 2011 until now). That could be because of the powerful vested interests the suit targets, as Rocco Galati, the lawyer trying the case, suggests.
Banking on serious reform
I saw an eminent constitutional lawyer Rocco Galati warmly greeting former Minister of Defence Paul Hellyer in the Federal Court of Canada this week, before the next round of legal proceedings started in an important national-level lawsuit, COMER vs. Canada, file number: T-2010-11.
Why do Canadians allow private banks to profit off our public debt, when our national public central bank, the Bank of Canada, is constitutionally legislated to provide no-interest loans for human capital and infrastructure spending? The Bank of Canada has not issued such loans since 1974, after it funded Canada out of the Great Depression, the Second World War, the infrastructure boom, free public health care system, universities and colleges, CBC and more. Monday, three judges upheld the previous ruling of justiciability. The next step is to determine the statutes of the Bank of Canada Act, and if they have been subverted by a conspiracy.
The monopoly of private banks’ exclusive privilege of lending money to governments will, for the second time in our history, soon be put on trial. The first time it was debated in the House of Commons, it led to the creation of the Bank of Canada. It’s high time to restore the Bank of Canada, and jail the banksters.
We are in a perpetual-debt crisis because we’ve allowed foreign private interests to control the creation of money and, by extension, federal economic and social policy for their private interests. Banks are guaranteed billions in profits every year as families slide deeper into debt. Forget income splitting; imagine the tax relief once we escape debt bondage and compound-interest payments.
Arguing for the plaintiffs — Ann Emmett, centenarian William Krehm and the Committee on Monetary and Economic Reform (comer.org) — is perhaps Canada’s most prominent constitutional lawyer, Rocco Galati. Galati, who consistently undermines and reverses government decisions and actions, is not shy in declaring Canada “a quiet dictatorship.” The erosion of democracy is not complete without the erosion of justice and the independence of the judiciary, for which this government has received international condemnation. Galati has reason to believe there is a government-issued media blackout on this Constitutional lawsuit (sorry, Harper, I didn’t get the memo!).
Saturday prior to the hearing, there was a five-hour seminar in Toronto City Hall chambers on the subject of money, tax, poverty and public banking, with the keynote speech delivered by Toronto Councillor Kristyn Wong-Tam on the creation of the Toronto Public Bank. We heard from a renowned investigative accountant, Al Rosen, who described the existence of “hundreds of Nortels” that go uninvestigated because of a lack of resources to address white-collar crime, tax evasion and more, as the Canada Revenue Agency has been co-opted for partisan purposes to attack charities and birdwatchers critical of the Harper government.
The report, Banking: A Proven Diversification Strategy, commissioned by Canada Post, was killed by the Harper government a day before it eviscerated the public institution. After access-to-information requests, the report was released, with more than 701 of 811 pages redacted. The report detailed the win-win nature of postal banking, given Canada Post is the largest distribution network in the country, with branches in more than 6,300 communities, more than all banks combined, said Mike Palecek, the representative from the Canadian Union of Postal Workers. Even grocery stores have their own banks, from which they make hundreds of millions a year. With a few simple software upgrades and ATMs, Canadians from coast to coast could have low-cost, accessible banking services, among 700 pages of other benefits the Harper government doesn’t want you to know about. Chew on that, Grandma, when you’re trudging through snow to get your mail.
Rocco Galati reports: “Federal Court of Appeal Decision — January 26, 2015. On April 24, 2014, we were, in the main, successful in our appeal before Justice Russell. We appealed, to the Federal Court of Appeal, on two minor points. The government cross-appealed on the ruling that we can proceed with the bulk of COMER’s action. On January 26, 2015, the Federal Court of Appeal dismissed our Appeal (on two minor points). More importantly, the Federal Court of Appeal dismissed the government’s cross-appeal claiming that the Federal Court could not entertain the lawsuit. Since the Federal Court of Appeal fully upheld the decision of Justice Russell dated April 24, 2014, Justice Russell’s decision stands. I refer everyone to my summary of that decision on COMER’s website. What that means is that we are entitled to proceed with our action, subject to me drafting and filing an amended Statement of Claim with the Federal Court, which will be done shortly. In short, and in summary, the decision of the Federal Court of Appeal is a victory for COMER to proceed. (While the government can seek leave of the Federal Court of Appeal’s decision to the Supreme Court of Canada, to date no such indication has been conveyed. The government has until March 29, 2015, to do so).”
Jacob Kearey-Moreland is a local Orillia resident and gardener. He can be contacted at: email@example.com
Liberate the Bank of Canada, Intrepid Think Tank Urges
Canadians have been fleeced for billions, but no traction in media for complex banking case.
The Canadian court case the mainstream media will not cover
The Bank of Canada, unlike the Federal Reserve in the U.S., is wholly owned by the people of Canada. It was nationalized in 1938 and was used very successfully to fund infrastructure, social programs, education, etc, for the benefit of all Canadians. It was used to bring us out of the depression, funded WWII, to build highways such as the McDonald-Cartier freeway, public transportation systems, subway lines, airports, the St. Lawrence Seaway, our universal healthcare system and our Canada Pension Plan.
Unfortunately, since Canada adopted economist Milton Friedman’s theory of monetarism in 1974 this has not been the case and one can track the progression of the dismantling of Canada since then.
By 1974, Canada’s accumulated federal debt since confederation was 18 billion. By 1977, after the government reduced its use of the Bank of Canada to carry public debt, it had risen 3000% to 588 billion. Today the debt is 500 billion, 95% which is compound interest owed to private banks and investors. Currently Canadians pay approx. 37 billion per year in debt servicing.
Canada Debt Free. Is it possible?
Did you know that the Bank of Canada used to make interest free loans to municipal, provincial, and federal governments before 1974, when the total national debt was only 18 billion dollars; you could still buy a good house for under 20 thousand dollars, and inflation was just a word. Then, it seems, our officials in 1974 decided to stop using the Bank of Canada’s ability to print interest free money, and instead to borrow money from private and foreign banks, that love compounded interest.
Does that explain our ballooning national debt? As well as the never ending call from all governments for more and more of our hard earned money. So, what can we do about it? Well, a few Canadians have filed an action in Federal Court to restore the use of the Bank of Canada. The crime of this story is that none of the mainstream media has covered it.
Restore the Bank of Canada
Canadian constitutional lawyer, Rocco Galati, on behalf of Canadians William Krehm, and Ann Emmett, and COMER (Committee for Monetary and Economic Reform) on December 12th, 2011 filed an action in the Federal Court of Canada (COMER vs. Canada, file number: T-2010-11, decisions.fct-cf.gc.ca) to restore the use of the Bank of Canada to its original purpose by exercising its public statutory duty and responsibility. That purpose includes making interest-free loans to the municipal, provincial and federal governments for “human capital” expenditures (education, healthcare and other social services) and infrastructure expenditures. COMER has also issued a national Call for Renaissance of the Bank of Canada.
This is not a conspiracy theory. This is a conspiracy — international banking conspiracy, as per lawsuit in the Federal Court of Canada. The Plaintiffs allege that the Defendants have acted in ways that are unlawful, unconstitutional and tortious in their handling of monetary and budgetary policy and administration in Canada. In their Claim, the Plaintiffs sought a number of declarations that the Defendants are required by the Constitution and the Bank of Canada Act, RSC, 1985, c B-2, to take, or refrain from, certain actions relating to their handling of fiscal and monetary matters, described further below. They also sought a declaration that the Defendants, along with certain international monetary and financial institutions, have engaged in a conspiracy to render impotent the Bank of Canada Act, as well as Canadian sovereignty over financial, monetary, and socio-economic, with injurious consequences to all Canadians:
“Defendants, wittingly and/or unwittingly, in varying degrees, knowledge, and intent, engaged in a conspiracy, along with the Bank of International Settlements (BIS), Financial Stability Forum (FSF), and International Monetary Fund (IMF), to render impotent the Bank Act, as well as Canadian sovereignty over financial, monetary, and socio-economic policy, and in fact by-pass the sovereign rule of Canada, through its Parliament, by means of banking and financial systems.” — decisions.fct-cf.gc.ca
Due to the fact that main stream media has not picked up this story, it will all sound foreign to you, If you would like to learn more on the Bank of Canada , I recommend that you take the time to watch, what I consider to be the best documentaries on the subject, Oh Canada Movie – Our Bought And Sold Out Land:
Here are three quotes from the Oh Canada Movie, and the times in the movie to view them:
- At 37min. 8sec. into the movie Elizabeth May of the Green Party Leader says, “The reality is the Bank of Canada has by legislation the ability to make what ever money needed, to loan the money to the government of Canada without interest.”
- At 37min. 50sec. into the movie, late Jack Layton, Federal MP Leader of the NDP says, “We never should have privatized our debt and turned it over to the private banks. We should have kept it in the hands of the Bank of Canada.”
- At 42min. into the movie, Paul Martin our former Prime Minister is asked if Canadian government has the ability to create debt free money? “Absolutely,” Martin responds, then adds, “but you have to ask the Question. Why don’t they?” Martin answers his own question: “because its inflationary, it would drive inflation through the roof.”
I hope that last paragraph didn’t confuse you. I can’t believe he said it myself, I had to listen to it again. You see, we had very little inflation prior to 1974 while the Bank of Canada was creating debt free currency. Inflation started with the borrowing of fiat fractional reserve money from the private banks (fiat money is a currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value).
So if you are tired of paying these never ending taxes I do encourage you to research the above.
Update COMER vs. BOC, Jan 2015
26 Jan 2015, Committee on Monetary and Economic Reform, and constitutional lawyer Rocco Galati won yet another round of appeals. Galati, the most prominent constitutional lawyer in the country, says he does not believe Canada is a democracy any longer.
CBC.ca — The case against Bank of Canada:
Rocco Galati in court to challenge how Bank of Canada does business
Derrell R. Dular, Toronto
I’m glad to see a major newspaper covering the lawsuit against the Bank of Canada. More attention needs to be paid to how the bank could be used to serve people of Canada. Instead, we’ve created an economy where we’re all going further and further into debt and paying interest to the financial industry. It’s like an anvil around our necks but it doesn’t need to be this way, and it used to be different. Thanks to lawyer Rocco Galati and COMER for bringing this to the courts. I hope they win and we get the bank we need.
Jeff Dean, Victoria, B.C.
This topic has evaded the public eye for much too long. The people of this country are bring robbed blind of their wealth and financial freedom under the fraudulent debt money system controlled by the private bankers. Why is this important topic not being blasted all over the news? Because “they” (the private bankers) do not want the people to know how they have been scammed over the past several years.Time for the media to do their job – inform the public!
Grant Baudais, Kelowna, B.C.
It was interesting to read the article on the lawsuit by the Canadian group Committee on Monetary and Economic Reform (COMER). While the article plainly tried to spin the suit as a nuisance suit by a bunch of “commie kooks,” nothing could be further from the truth. This country of ours had it’s greatest years of development (1938 to 1974) attaining its modern character and form with the Bank of Canada as primary lender to the people’s governments insuring a stable monetary heartbeat. After 1974, Canada’s politicians were “hoodwinked” into believing that borrowing from an international cabal of bankers would somehow be less inflationary than borrowing from Canada’s own public bank, having the best interest of the people as its guide, rather than the rich shareholders of private for profit banking houses. The proof is in the charting of Canada’s governmental debt over the years. Up until 1974, Canada had a modest and very easily manageable debt. Afterwards, the rise in debt is precipitous as Canadian governments switched to borrowing from commercial banks at the going interest compounding. How very foolish! Since then inflation has, continually in a downward spiral, been eroding the value of the Canadian dollar as the amount of debt by all three levels of governance, carried by the taxpayers, and all owed to the commercial banking class, instead of to ourselves with any profit from that self-owed debt accruing to ourselves as under the previous Bank of Canada regimen. The very statement by today’s Bank of Canada, stating that a return to their direct lending to government at practically 0 per cent interest would somehow be more inflationary instead of borrowing from commercial banks at the going rate of compounding interest defies logic and shows how that formally lifesaving institution has been captured by the bankers for their own ends; which dear reader will not coincide with your or our nation’s best interests. I wish Mr. Galati and COMER every success as this will also mean every success for Canada and her people if they succeed in tearing Canada away from the avaricious grasp of the money lenders.
Brad Fuller, Nelson. B.C.