Sunday, 19 March 2017
Canadian Media Ignoring Titanic Lawsuit vs. Bank of Canada
In early August 2013, two Canadians and COMER “confronted the global financial powers in the Canadian federal court.” They have filed a case against Bank of Canada earlier in 2011, in an effort to return the central bank to the people of Canada by printing its own debt-free currency like it was before 1974.
“COMER contends the Bank of Canada, a publicly owned national financial institution created in the Great Depression, is mandated to provide debt-free support for public projects undertaken by federal, provincial and city governments. Not doing so has deprived Canadians of the benefits of larger infrastructure investments, COMER alleges.
Among other arguments in its court submission, the group alleges Canada ceded its sovereign ability to conduct independent monetary policy to the “secret” deliberations and control of private foreign bankers. This unconstitutional move, COMER argues, was a result of Ottawa’s decision to join several multinational financial organizations, particularly the Bank for International Settlements (BIS).
Headquartered in Switzerland, the BIS is an organization that brings together the central banks from 60 countries to co-operate in the promotion of international monetary and financial stability. Canada joined in 1970.
“It’s by far the most serious and important case I’ve ever done,” said Galati, who gained national prominence in a classic David versus Goliath case last year in which he moved to block Prime Minister Stephen Harper’s appointment of Justice Marc Nadon to Canada’s top bench.
Of the current case, Galati says, “It impacts the entire country in a profound way, right down to the bone of our economics and the history of the way we’ve maintained and lost, through illegal action, our independent monetary policy. It’s huge.””
[Posted at the SpookyWeather blog, March 19th, 2017.]