“ Until the control and the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of sovereignty of Parliament and democracy is idle and futile. Once a nation parts with the control of its currency and credit, it matters not who makes the nation's laws. Usury, once in control, will wreck any nation.” William Lyon Mackenzie King, Prime Minister of Canada, pictured below on the $50 bill.
COMER vs the Canadian Government and the Bank of Canada
On January 20, 2012, the Committee for
Monetary and Economic Reforms (COMER) - a Canadian economic and monetary think thank represented by constitutional
lawyer Rocco Galati - filed a landmark lawsuit against the Bank of Canada,
the Minister of Finance, the Attorney General of Canada, the Minister of National Revenue and the Queen for - among other - "abdicating their statutory and constitutional duties with respect to article ss. 18 (i) and (j) of the Bank of Canada Act which stipulates that the Minister of Finance and the Government of Canada are required to request and the Bank of Canada is statutorily required to make interest-free loans for the purpose of human capital expenditures, infrastructure expenditures and federal, provincial and municipal expenditures."
source: www.comer.org
Historical background, purpose and
objective of the lawsuit
The Bank of Canada was first created in 1934 as a private Central Bank. However, in 1938 the Bank of Canada was nationalized and constitutionally mandated with the
exclusive right and power to issue and loan the federal, provincial
and municipal governments interest-free money for public infrastructure development and “human capital”
expenditures such as education, health and other social programs.
Prior to 1938, Canada did not have a
public Central Bank. As a result, the government had to borrow money for government expenditures from
private commercial banks at interest. The country's largest private commercial bank – the
Bank of Montreal – was the government's de facto bank. However, on
the eve of the Great Depression (1929), the interest on the
government debt had reached an alarming one third of government
expenditure. As a result, a Royal Commission was set up in 1933 to
study the setting up of a Canadian Central Bank to issue
interest-free money to the government for public infrastructure development and “human capital” expenditures such as education, health and other social programs.
As Prime Minister Mackenzie stated in
1935:
“ Until the control and the
issue of currency and credit is restored to government and recognized
as its most conspicious and sacred responsibility, all talk of
sovereignty of Parliament and democracy is idle and futile.”
Tragically, however, in 1974 the Bank
of Canada became a member of the Bank for International Settlements (BIS) - an apex private central banking organization regrouping all private Central Banks around the world - which started dictating monetary, financial, fiscal, economic and budgetary policy in Canada. Furthermore, under the BIS, the Bank of Canada was strictly forbidden to provide interest-free loans to the government, contrary to the Bank Act of 1938. Instead, the Bank of Canada started lending money to private commercial banks at near-zero interest rates (the Prime rate), which the commercial banks then loaned back to the government at much higher compounded interest rates. As a direct result, the Canadian "public
debt" has since skyrocketed from $24 billion in 1974 to over $600
billion in 2014 (see graph below).
Graph 1: Canadian government/public debt
source: www.qualicuminstitute.ca/federal-debt/
As the above graph clearly and tragically shows, the “public”/government debt has exponentially increased from $24 billion in 1974 (before the Bank of Canada became a member of the BIS) to over $600 billion ($611.9 billion) in 2014 (from 1974-2014, after it became a member of the BIS).
source: www.qualicuminstitute.ca/federal-debt/
As the above graph clearly and tragically shows, the “public”/government debt has exponentially increased from $24 billion in 1974 (before the Bank of Canada became a member of the BIS) to over $600 billion ($611.9 billion) in 2014 (from 1974-2014, after it became a member of the BIS).
Furthermore, according to statistics published by the Ministry of
Finance, Canadian taxpayers paid
$ 28.2 billion in interest on the "public debt" in 2014 alone, which represents 10% of total government expenditure for 2014 ($271.7 billion), exceeding health and other social expenditures, employment insurance and children's benefits, Public Safety and National Defense. (Please see details in picture below.)
Source: Canada Ministry of Finance: www.fin.gc.ca
$ 28.2 billion in interest on the "public debt" in 2014 alone, which represents 10% of total government expenditure for 2014 ($271.7 billion), exceeding health and other social expenditures, employment insurance and children's benefits, Public Safety and National Defense. (Please see details in picture below.)
Vicious debt-austerity trap cycle
The current vicious and impoverishing cycle of debt-austerity policies imposed on Canadians by Prime Minister Stephen Harper and his government are a direct result and consequence of the monetary, financial, fiscal, budgetary and economic policies dictated and imposed on the Bank of Canada by the BIS.
Indeed, Prime Minister Harper, the Finance Minister and his government are imposing deadly austerity measures on the Canadian public, slashing federal, provincial and municipal budgets, cutting down on public infrastructure development and “human capital” expenditures such as health care, education and other public and social services, while spending $28.2 billion a year to pay the interest on the unconstitutional so-called “public debt”...
Moreover, according to Paul Hellyer - the former Canadian Defense Minister and author of The Money Mafia - Canadian taxpayers have paid over $ 1,100 billion ($1.1 Trillion) in compounded interest payments on the (so-called) “public debt” from 1974-2004 (twice the current public debt). With the current level of government debt ($ 611.9 billion), Canadian taxpayers will pay over a trillion dollars in interest only over the next 20-25 years, ad infinitum...
Indeed, Prime Minister Harper, the Finance Minister and his government are imposing deadly austerity measures on the Canadian public, slashing federal, provincial and municipal budgets, cutting down on public infrastructure development and “human capital” expenditures such as health care, education and other public and social services, while spending $28.2 billion a year to pay the interest on the unconstitutional so-called “public debt”...
Moreover, according to Paul Hellyer - the former Canadian Defense Minister and author of The Money Mafia - Canadian taxpayers have paid over $ 1,100 billion ($1.1 Trillion) in compounded interest payments on the (so-called) “public debt” from 1974-2004 (twice the current public debt). With the current level of government debt ($ 611.9 billion), Canadian taxpayers will pay over a trillion dollars in interest only over the next 20-25 years, ad infinitum...
As Prime Minister Mackenzie clearly and
prophetically stated in 1935:
“ Once a nation parts with the
control of its currency and credit, it matters not who makes the
nation's laws. Usury, once in control, will wreck any nation.”
And as the "father" of the current fraudulent Fractional Reserve Banking and private central banking architecture - Meyer Amschel Rothchild - himself arrogantly said:
And as the "father" of the current fraudulent Fractional Reserve Banking and private central banking architecture - Meyer Amschel Rothchild - himself arrogantly said:
Why should the government borrow money at interest from private commercial banks when it can issue and spend its own currency interest-free through the Bank of Canada..?
The obvious question that any sane and thinking person would ask PM Stephen Harper, the Finance Minister, The Governor of the Bank of Canada, the Canadian government, Opposition Leaders and Members of Parliament, is why does the government have to borrow fiat money created ex nihilo (out of nothing) from private commercial banks at compounded interest, which hard-working Canadian taxpayers are coerced to repay trough taxation, when the Bank of Canada Act constitutionally gives the Bank of Canada the exclusive mandate, right and power to issue and loan money to the government interest-free...? I encourage all Canadians to urgently ask Prime Minister Harper, the Finance Minister, the Governor of the Bank of Canada as well as their MP this question.
I therefore encourage all Canadians to ask their MP the same question.
The obvious question that any sane and thinking person would ask PM Stephen Harper, the Finance Minister, The Governor of the Bank of Canada, the Canadian government, Opposition Leaders and Members of Parliament, is why does the government have to borrow fiat money created ex nihilo (out of nothing) from private commercial banks at compounded interest, which hard-working Canadian taxpayers are coerced to repay trough taxation, when the Bank of Canada Act constitutionally gives the Bank of Canada the exclusive mandate, right and power to issue and loan money to the government interest-free...? I encourage all Canadians to urgently ask Prime Minister Harper, the Finance Minister, the Governor of the Bank of Canada as well as their MP this question.
In
1939, Mr Graham Towers – the first Governor General of the Bank of
Canada from 1934 to 1954 - testified in front of the Canadian
Government's Standing Committee on Banking and Commerce,
during which he provided factual evidence and openly revealed much
about the modus operandi of the (fraudulent) central private banking system in Canada.
In
one question he was asked by the Committee: "Will
you tell me why a government with power to create money, should give
that power away to a private monopoly, and then borrow that which
parliament can create itself, back at interest, to the point of
national bankruptcy?".
To
which Mr Towers replied: "If
parliament wants to change the form of operating the banking system,
then certainly that is within the power of parliament" (1)
I therefore encourage all Canadians to ask their MP the same question.
(1) http://www.michaeljournal.org/appenE.htm
Fractional Reserve Banking and
Private Central Banking
"The
few who can understand the system will be either so interested in its
profits, or so dependent on its favors, that there will be no
opposition from that class, while, on the other hand, that great body
of people, mentally incapable of comprehending the tremendous
advantage that Capital derives from the system, will bear its burden
without complaint and, perhaps, without even suspecting that the
system is inimical to their interests."
Letter
written from London by the Rothschilds to their New York agents
introducing Fractional Reserve Banking and private central banking in
the USA.
I encourage all Canadians who wish to live as free men/women to urgently carry out their own research into the fraudulent Canadian and global private central banking architecture which has literally enslaved all Canadians and all of humanity to a handful of private bankers. Please research Fractional Reserve Banking and Private Central Banking.
As Goethe rightly stated: "None are more hopelessly enslaved than those who falsely believe to be free."
And as Henry Ford (prophetically) stated: “It is good that people do not understand the workings of the banking system; for if they did, I believe that there would be a revolution before tomorrow morning.”
That "morning" is not far...
And as Henry Ford (prophetically) stated: “It is good that people do not understand the workings of the banking system; for if they did, I believe that there would be a revolution before tomorrow morning.”
That "morning" is not far...
Finally, I invite you to read the
following Open Letter I have written to Barack Obama regarding the
2008 banking/financial collapse and the fraudulent banking policies
and practices of the privately-owned Federal Reserve Bank in the US.
I also invite you to read the following
article I have recently written regarding the root constitutional cause behind the
vicious and deadly debt-austerity trap cycle in
Greece and in the EU.
In fact, the exact same banking scam
and looting mechanism that is operating in the US since 1913 through the privately-owned Federal Reserve Bank, and in the EU since 1999 through the privately-owned European Central Bank (ECB), is unconstitutionally and thus illegally operating in Canada since 1974 through the Bank of
Canada.
"There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt." John Adams (2nd US president, 1797-1801)
Canadians must break free from the vicious and deadly debt-austerity trap cycle and from the resulting economic and financial enslavement. The monopoly over the supply of money in Canada by private central banksters and the resulting "public debt" has become a weapon for the economic plunder of the wealth and resources of Canada and the exploitation, oppression and enslavement of Canadians. Nothing less than the future survival and freedom of Canadians is at stake.
Indeed, the global private monopoly over the supply of money is the root cause of all human exploitation, oppression, economic depressions, poverty, unemployment, homelessness, hunger/famines, wars and endless human misery and suffering. As long as private central banking and Fractional Reserve Banking are not permanently banned and outlawed, global plunder, human enslavement, exploitation, oppression, poverty, war, misery and suffering will go on unabated ad infinitum...
As Tolstoy rightly stated:
" Money is a new form of slavery. The only difference between chattel slavery and money, is that the latter does not have a visible master-slave relationship."
This is truly a landmark lawsuit for Canada and for the entire world. Unfortunately, although unsurprisingly, the mainstream Canadian (corporate) media and the global so-called "free" press(titutes) have brilliantly failed to cover this landmark lawsuit in the so-called "news", although this is the most important issue facing the welfare, survival, future and freedom of all Canadians and by extension of humanity as a whole.
Thank you for raising awareness about this landmark lawsuit and this extremely important issue and for sharing this article through the Internet and social media.
You can download the entire Claim against the government of Canada and the Bank of Canada and read and endorse the "Call for the Renaissance of the Bank of Canada" at this link.
I also invite you to watch this brilliant 10 minute crash-course video given by a 12 year old Canadian girl on the fraudulent Canadian banking system:
You probably wonder why you never heard this from the Prime Minister, the Canadian government, Opposition Leaders, Members of Parliament, the "free" press(titutes) and the so-called economic and financial pseudo "experts"...?
Food for thought...
"In a world surrounded by deceit, telling the Truth is a revolutionary act." George Orwell
Truthfully,
Arya.
