Warning: Foreign Central Banks & Bail-Ins Threaten Canadians Savings.
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April 16, 2020
As the Covid-19 crisis unfolds, Canada’s economy is crumbling and Canadian’s savings are at risk.
In a previous Call to Action we touched on the threat of bank Bail-ins wherein the government has the power to take Canadian’s savings based on legislation adopted in April 2018. Canadians were given a false security that bank bail-ins would not affect them. The government is intentionally misleading Canadians and we feel it is vital that we address not only this issue but also the devastating consequences of dealing with the foreign central “banksters”.
It was difficult to write the following letter with the intention to educate the masses and keep it brief. This is a complex matter and once again the UN and Global elites are at the core threatening our sovereignty. For a 2 minute synopsis. View Here Please share this information and request others join our campaign. Join Here
Sign the pre-written letter below (or write your own), copy and paste to your email and send to the Prime Minister ([email protected];) and CC: your own MP (to find your MP’s e-mail address simply click Here and key in your postal code) BCC: [email protected];
**For copy and pasting instructions. Click Here
Thank you and God Bless Canada!
Disclaimer: Action4Canada are not experts in the field of global finance. Moreover, we work to provide as much fact checked research currently available at the time of writing this letter. Please, do your own research and follow experts like Mike Maloney (7 secrets of money) and author. Peter Schiff, long time qualified Financial Expert. James Dines, long time financial expert, author and the “Original Gold Bug.” G.Edward Griffin, financial expert and the first to out the creation of the US Federal Reserve, financial expert and author.
Dear Prime Minister Trudeau,
I am relieved to hear the Liberal’s shameful quest to gain unlimited power through the financial emergency act was thwarted. However, your unprecedented attempt to receive a blank cheque at the cost of taxpayers evoked increased concerns over the alarming debt and Liberal’s placing all Canadian property at risk via the Bank Bail-In Regulation adopted April 18, 2018 and the Foreign Central Banks power and control over Canadian assets.
Fractional reserve banking (foreign central banks) are lending money they do not have, producing counterfeit money, manipulating interest, and forcing taxpayers to pick up the tab when they go broke due to their own incompetence. This is criminal and Canadians demand politicians and bankers involved in this scam be held accountable.
The banking crisis in Cyprus in 2013 (Read Here) concerned and shocked citizens around the world. In response, the foreign Central Banks developed a bank bail-in as a model to manage the failure of any major bank. The bank bail-in essentially legalized the theft of private property as it permits banks to take depositors cash and safety deposits to recoup their losses. Creditors and share holders also take a hit on their investment assets. (Crony Scam)
The Canadian government suggests the purpose of the bail-in regime is to “preserve financial stability while protecting the interests of taxpayers”. This looks good on paper, carefully worded, but not at all reliable. In fact, due to the crafty language used throughout the bail-in regulations, the last thing anyone should feel is at ease.
For instance, why is the Canadian government obligating Canadians to be in line with ‘International Standards” or a “Global” financial reform agenda?
Canada, Constitutionally, is a Sovereign self-governing Nation and is only financially responsible to itself–not to an International or Global body.
Also, if the government and the Bank of Canada are guaranteeing that deposits are secure than why is the term “reduce” used in the language? “Reduce” the impact on taxpayers? This is an oxymoron and nullifies the government’s commitment.
“In line with international standards, Canada has put into place measures to reduce the likelihood of failure for these banks and measures to reduce the potential impact of any failure on taxpayers”.
Further, how can the government guarantee coverage by the CDIC (Canada Deposit Insurance Corp) should a major bank(s) become insolvent when the individual insurance settlement has a payout “limit” and insufficient funds in its reserve? The rhetoric that bank bail-ins will not affect depositors is deceptive language intended to gas light Canadians.
April 2018, News Release Bail-Ins – “The regulations identify which types of debt instruments will be subject to the regime. The bail-in regulations do not apply to deposits—including chequing accounts, savings accounts and term deposits such as Guaranteed Investment Certificates—which will continue to benefit from the Canada Deposit Insurance Corporation deposit insurance framework”.
The Government states the bank bail-in was developed “in the unlikely event of a bank failure and that the losses will be borne by shareholders and creditors of the failed systemically important bank, rather than taxpayers”. However, the investments of shareholders include pensions, municipalities, and institutions. Therefore, personal loss for many Canadians (of savings and investment property), regardless of the governments wording, will be inevitable. Lawyer Rocco Galati states,
“If a bank goes bankrupt a Bail-In means that Canadians, as depositors, in the bank are bailed into their bankruptcy, bailed into their debt and as a common depositor are a simple creditor under the Canadian bankruptcy laws. Meanwhile, private bankers in a foreign country are determining our banking policies and are holding us hostage to their private profit needs”.
Canada does not have a public resource available to analyze precisely all the intricate details of our rising debt, but the United States does. The US ” Debt Clock” is a great visual to understand the devastating impact of a Foreign Central bank and monetary policy and the economically destructive interest on that debt which is paid to privately owned foreign central banks.
Due to the Liberal’s deliberate out of control spending in the past four years and this diabolical move to shut down our economy in response to a manufactured “pandemic”, Canadians are in an extremely vulnerable position and will very likely find themselves in the same position as Cyprus if immediate action is not taken. The current National Debt is the highest in Canadian history.
There is no money left to spend and yet this reality isn’t even enough to stop the Liberals from continuing to give it away. The recent “Covid” foreign aide sent to Greece, a developed country and part of a $20 TRILLION a year economy, and support for China, was perplexing (Reminder: China has two Canadian men held captive for over a year). Funding the oil and gas in Africa while destroying the oil and gas sector in Canada is also a massive blow to Canada’s economy.
You, sir, have driven Canadians over a financial precipice. The Bank of Canada’s alarming announcement March 23, 2020, giving authority to buy and sell securities, is proof. The ” Bank economists now expect the Canadian economy to shrink between 10% and 24% on an annualized basis, a recession deeper than the worst of the 2008-09 financial crisis”. “Price-discovery has collapsed on the back of these stresses, so it is crucial for the Bank to respond in-kind with a program that targets both public and private sector assets.” You are destroying our economy and our Nation.
The Bank of Canada Act, which defines the Bank’s functions, has been amended many times since 1934. But the preamble to the Act has not changed. The Bank still exists “to regulate credit and currency in the best interests of the economic life of the nation.“
Please note…it does not say, in the best interest of the life of “International” or “Global” economic interests but “Canadian’s” interest.
A little History.
The Bank of Canada was nationalized in 1938 and the government could borrow money with little or no interest. And it worked. The Canadian government built freeways, public transportation systems, subway lines, airports, the St. Lawrence Seaway and funded a national health-care system and the Canada Pension Plan. But in 1974 Pierre Elliot Trudeau made the decision to halt the borrowing of money from the Bank of Canada, and instead, chose to borrow from the private banks which, instead of lending to the government at no interest, or low interest, introduced higher interest rates along with compound interest. The government turned its business over to the privately run banks which charged compound interest and from that point on our National debt began to grow. Due to the cost associated with compound interest Canadians ended up with compound debt, federal debt, and personal debt. Today, for every dollar a Canadian make, they owe $1.77 in debt.
It is no surprise that it is the highest debt-to-income ratio on record.
As Mackenzie King famously said: “Once a nation parts with the control of their currency and credit, it matters not who makes that nation’s laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most sacred responsibility, all talk of sovereignty of parliament and of democracy is idle and futile.”
Giving more power and control to global governments and the global Foreign Central Bank system is the problem and not the solution. The Central Banks bow to the demands of the UN and Chinese Communist Party (listen @ 44:58) …they are no friend of Canadians.
The plan is to bankrupt Canada at which time we will be forced to hand over our property rights, our personal assets, and Canadian state-owned resource assets. This criminal conspiracy within our Federal government extends party lines.
Therefore, I request the government take immediate action to;
- remove the Bank of Canada from the fractional reserve central banking systems that is operated by privately owned international central banks
- restore the Bank of Canada to the credit/loans from the Bank of Canada to Canada for Canadians at low or little interest to municipalities and provinces in Canada
- revoke the Bail-In Regulation
- balance the budget by spending within our means
- stop funding the UN and foreign aide initiatives
- bring manufacturing jobs back to Canada and get the oil and gas sector up and running
- demand China pay reparation for the damage done to the Canadian economy due to the covid crisis
This will be a central focus in the next election and every MP is on notice. If you continue to support the sale of Canada and the Wealth Transfer Scheme (Agenda 2030 SDG) instead of protecting the interests of Canadians and our sovereignty, then I anticipate you will suffer the consequences in the polls come the next election.