Surprise, surprise, another bankster/kleptocrat wants us to hitch our ride to a fake-terror backed, debt-slave driven, unaccountable totalitarian state. - Dan F.
Canada's Central Bank Scam:
Prime Minister Paul Martin's Badly Kept Secret
William Krehm - Global Research
June 8th, 2004
An intriguing secret overhangs the federal election. Our Prime Minister appeared to have everything in the bag, so utterly was his control of information. He knew exactly what had brought on the financial bust of the late 1980s, and how the banks had been bailed out by enabling them to quadruple their holdings of federal government bonds by being able to acquire them without putting up any of their own money. The statutory reserves - were some 8% to 10% of the deposits the banks received in their chequing accounts that had to be redeposited on an interest-free basis with the Bank of Canada. Such reserves had been abolished in a bill sneaked through parliament in 1991 without debate or press release.
When critics dug up the facts of that bailout, the banks cried indignantly: "It was an unjust tax on the banks!" But it was no tax at all. From a "lender of the last resort", the government had simply moved into the position of "the donor of the first resort". Throughout the 1980s it had bailed out bankrupt banks. And since the government of Canada is the sole shareholder of the Bank of Canada when it switched its borrowing from its own bank the Bank of Canada to the distressed banks, they lent back to the government some of the money it had bestowed on them as a gift. That was the secret of secrets, the dead rat beneath our floor boards that poisoned the very air politicians breathe. Yet Canadians who pay, ultimately pay the shot in the GST every time they go into a store. They were the ones who really bailed out our banks. The details have been withheld from the public, but the total picture is revealed to them whenever they do a bit of shopping or drive over the potholes in our roads, or suffer from the crumbling of our infrastructure.
Even more scandalous, after being bailed out so sumptuously, the banks were further deregulated and allowed to take over stock market brokerages in Canada and abroad, and underwriting and merchant banking establishments, derivative boutiques - such a jumble of businesses incompatible with banking that the mighty banks could not begin to keep track of the clashing relationships that resulted. Thus as part of the world-wide bail-out of banks in trouble, the Bank for International Settlements, had declared the debt of developed countries to be risk-free , hence requiring no further capital for banks to acquire. But at the same time governments throughout the world had put an end to the statutory reserves, that had served as an alternative to higher interest rates to lick perceived "inflation". But if you raise interest rates, the huge bond hoard with lower coupons held by the banks fall below market value. And the banks thus lose much of their remaining capital from their very rescue package. In short the right hand of Mr. Martin and his colleagues in charge of our money supply in Canada and abroad, lost rack of what their left hands was up to. That led to a major financial crisis in Mexico that would have brought down the entire financial system had the Clinton government in Washington not at the last moment patched together a $50 billion plus standby program.
And meanwhile Mr. Martin as Finance Minister during the Chretien government was beating his own drum as a financial expert who merited ten years in power as PM.
Cocain Canada PM
A few days after he was elected Prime Minister of Canada
83 kilograms of cocaine with a street value of between $12 to $14 million
was found during a random search of Paul Martin's family vessel
named the "Sheila Ann" after his wife.
CANADA PM SHIPPED COCAINE
The Prime Minister's Office would not discuss the drug bust, saying it was "a point of recusal."*...
No charges are expected against the crew
or Martin's shipping company which flies a foreign flag
and has moved shipbuilding from Canada to Communist China
and uses Soviet bloc sailors as crew.
Canada had a federal election last week (June 2004)** and Paul Martin won and will now stay on as Prime Minister. In a previous essay entitled AMERICA'S MORONS I described how a few months ago Paul Martin had been handed the prime ministership so that the elected, long reigning one could retire.
The new Prime Minister had previously been a political appointee, ie Finance Minister under Chretien. In his private life, before entering politics, Paul Martin came to be the owner of Canada's biggest shipping company, Canada Steamship Lines, which now flies a foreign flag (to avoid taxes) and has moved shipbuilding from Canada to Communist China and uses Soviet bloc sailors as crew.
With the election just days ago and Canada's July 1st birthday celebrations yesterday*** it's as though "the wedding baked meats doth furnish forth the funeral tables" as the Prime Minister is exposed as the proverbial Emperor With No Clothes On by his ship's bottom being bared for all the world to see. Or is he more like an ANIMAL FARM PIG stumbling around on two legs with his trotters in the air.
Drug trafficker Martin can now officially be added to Canada's list of corrupt politicians including BC's drunk-driving Premier (see DUI is DUI) and a previous Mafia connected Prime Minister (see CANADA'S MULRONEY BALONEY) and a Communist connected one too (see CANADA'S RED TRUDEAU). ~ Jackie Jura
Nova Scotia police seize cocaine on CSL ship (owned by Prime Minister's sons, named after wife). CTV.ca, Jul 1, 2004
MARTIN'S FAMILY VESSEL RAIDED FOR DRUGS
Halifax Daily News, Jul 1, 2004
83 kilograms of cocaine were found during a random search of the vessel
HALIFAX -- An underwater camera is credited with what's described as the fluke discovery of an attempt to smuggle millions of dollars in cocaine on a cargo ship named after the prime minister's wife and operated by the company he once controlled. Authorities suggest organized crime is behind an attempt to transport cocaine using the Sheila Ann, a ship operated by Canada Steamship Lines, the company Prime Minister Paul Martin transferred control of to his three sons last year.Article Continues