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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
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…
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The Most Revolutionary Act 
Born in Toronto to Russian and Ukrainian parents in 1914, the meanderings of this violinist-turned-revolutionary-cum-journalist-turned-businessman have made him a living relic. The man who stated this suet was 93 YO in 2008 and its now at supreme court Hats off to him http://www.thestar.com/news/2008/05/17/toronto_revolutionary_93_girds_for_one_more_battle.html
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93!!! I had no idea. I sure hope I’m still raising hell at 93.
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This is what needs to happen here and all over the world. One way to kill the beast is to trap and starve it!
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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.
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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;-)
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“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?
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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 http://stuartjeannebramhall.com/2014/03/26/stripping-banks-of-their-power-to-issue-money/
Their reaction, during the Q&A’s is extremely revealing.
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I wish the plaintiffs a resounding victory. I hope they will model and teach other countries about public banking.
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Same here. Iceland currently has a bill in their legislature to create a public bank, and thanks to a recent citizens referendum, the Dutch parliament is also debating it: http://www.alpheus.org/hearing-on-monetary-reform-in-holland/
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What…? Is common sense overtaking our planet??? 🙂 Canada, New Zealand, Iceland, and The Netherlands!!!
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Well, unfortunately none of these governments adopt these reforms out of the goodness of their heart. It’s been the back breaking sustained work of dedicated activists that’s forced governments to consider these reforms.
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Activists are our heroes.
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