TRUE NORTH: Canadians Fight to Restore their “National Public Bank”

*
*
Canadians fight to restore public control over their Central Bank to end their reliance on private banks and Wall Street for the money to run their economy. Unbeknownst to most Canadians (and Americans), it isn’t their government that issues the money to run their economy. More than 95% of it (all but the coins and bills) is created by banks out of thin air when they issue loans. See The Role of Foreign Banks in US History

RIELPOLITIK

Source – globalresearch.ca

Committee for Monetary and Economic Reform (COMER) Sues the Bank of Canada. Canadians Fight to Restore their “National Public Bank”:

On October 14, the Canadian Court of Appeals heard another attempt from the Crown (representing the Bank of Canada) to dismiss a case against it–a case that argues the Bank has retreated from its mandate to operate as a public bank. The Canadian government is now repeating arguments it has already made concerning justiciability, and is throwing in some other procedural objections. The plaintiffs are confident that this will be the last round of procedural appeals, and that the case will actually go to trial.

In some ways, this was the Don Quixote of court cases: a small group of individuals, and a small economic think tank known as the Committee on Monetary and Economic Reform sued the Bank of Canada, a national entity under the…

View original post 501 more words

12 thoughts on “TRUE NORTH: Canadians Fight to Restore their “National Public Bank”

    • It is happening all over, sojourner. Even in the US. People think it isn’t happening because it’s not reported on the six o’clock news. But with more and more people turning to the Internet for news, hopefully social media can make up for this shortcoming.

      Liked by 1 person

      • That’s good!

        I never listen to the local or national talking heads, past getting a local weather report.

        I don’t always keep up with the economic news on the internet, and this is why I am ignorant of this.

        This is wonderful! I could stand some good news these days;-)

        Like

  1. “Unbeknownst to most Canadians (and Americans), it isn’t their government that issues the money to run their economy. More than 95% of it (all but the coins and bills) is created by banks out of thin air when they issue loans.”
    Write that in letters of fire and blazon it across the heavens for all to see. Why are people so reluctant to accept this self-evident truth?

    Like

    • This is a rhetorical question, right? The reason people don’t know is because their governments don’t want to know. The sad fact is that prior to the 1970s a much larger proportion of the population understood that banks created money. Then the corporate PR industry swung into high gear to make sure the information was suppressed.

      Former IMF economist Michael Kumhof laments this reality in his presentation on the Chicago plan when he tries to explain to a bunch of academic economists where money really comes from https://stuartjeannebramhall.com/2014/03/26/stripping-banks-of-their-power-to-issue-money/

      Their reaction, during the Q&A’s is extremely revealing.

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s