Bank On Canada - Rally At Parliament Hill

Carol Pepper | Jun 06, 2013

On June 1 on Parliament Hill, a Rally to Restore The Bank of Canada and demand government-created DEBT-FREE money took place. Gathered was a group of presenters, among them The Right Honourable Paul Hellyer, past deputy prime minister and Canada's longest-serving parliamentarian. He spoke about his manifesto for a new social contract between the government and the people of Canada and later read the actual text to the group in front of the Bank of Canada. Ann Emmett, who has launched a lawsuit against the government for not using the Bank of Canada, gave an update on that situation, peppering her remarks with punchy lines. Hugh Jenney addressed the forcing through of P3 Hospital Privatization without public accountability. Jerry Ackerman, financial analyst and public banker arrived with his pitchfork, as promised, with a poster attached that reads Vote Down this Forked Tongue Budget. Security promptly confiscated his pitchfork, but the episode strengthened his position as he took the microphone and stated the contents of his open letter to Finance Minister Flaherty in front of a crowd of about 80 listeners.

This rally was organized by COMER (Committee On Monetary and Economic Reform), a think tank of Canadians concerned about money and debt. According to the guests who spoke, returning The Bank of Canada to its position as primary lender to our government is the only way to help ourselves and our country move toward prosperity and away from the problems we and other nations are experiencing now.

As Canadians we are all shareholders and collectively we own the Bank of Canada. It is supposed to work for us by creating debt-free money which our government borrows from it and spends into the economy. It is non-inflationary and we don't end up paying compound interest on any debt. The Bank of Canada was nationalized in 1938 and it is empowered “to regulate credit and currency in the best interests of the economic life of the nation”. Up until 1974 it did a great job of this and among many other accomplishments, it allowed the construction of the Trans-Canada Highway, and the St Lawrence Seaway. As well it provided for our public health system. In 1974, the Bank of Canada stopped working for Canadians and instead became a planning committee for the Bank of International Settlements (BIS) in Europe and from that time on our government has been borrowing from private banks and paying interest just the way individuals do. That's why there is now a huge debt, currently $581 Billion. We have been forced to pay one trillion dollars in unnecessary interest and it didn't have to be that way. We could have done a lot for our citizens with that money. We run the risk of being slaves to a debt money system run by private banks if we lose the power to control our own monetary policy.

“The current path we are on is environmentally destructive, morally wrong, and ethically corrupt,” said Jerry Ackerman, and he suggests that Canadians should be asked in a referendum if they want to spend $89 billion on nuclear bombers (Latest US estimate for 65 F-35s).

Here's what some of the speakers had to say about Canada's situation at the moment.

Ann Emmett: “Being robbed isn't really news, but when what is stolen is a BANK, it should be big news! And why don't we know about it? The media.”

Paul Hellyer: “Our government may soon be signing CETA (Comprehension European Trade Agreement)...possibly in two weeks time. Take action now. Call you representatives and tell them to start representing us!”

Go to www.comer.org to learn more about the organization and the lawsuit against the government.

Paul Hellyer's Manifesto for the New Social contract www.victoryfortheworld.net