shaitanism - Interest Based Banking - Canada's Central Bank Scam Prime Minister Paul Martin's Badly Kept Secret

Canada's Central Bank Scam Prime Minister Paul Martin's Badly Kept Secret

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 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.

As further proof of his "fiscal responsibility", he stashed away government revenue to "hide against a rainy day". It was in fact the part cost of keeping the sun shining on our banks' excursions into the US financial wild west. Not only were these incompatible with their banking activities, but not particularly successful. They have already cost them a small fortune.

But that was not enough, Mr. Martin got himself into an awful row behind closed doors with the Auditor-General of that day, Denis Desautels, on the government's practice of ignoring double entry bookkeeping. When it built a bridge, a school, or a penitentiary, it wrote off the spending in a single year while keeping the debt incurred on its books as a liability. After weeks of wrangling a compromise was reached in which this accrual accountancy (also known as `capital budgeting') would be introduced with respect only to the aboriginal peoples' accounts and the environment. That resulted in the discovery of an unrecognized surplus, that he wore like a Purple Heart Cross. Yet under the terms of his settlement with the Auditor-General, the final balance sheets of the government would be subject to approval by the Auditor-General. Until that approval is forthcoming, Mr. Martin is as much in the dark about the government's balance-sheets as the general public. Accordingly it falls to the electorate to decide whether he really has been a prudent administrator, or has just bullied his auditor.. In the US intimidating or bribing a company's auditor has earned high executives jail sentences. Could it be that in Canada we reward them with 10-year runs as head of state? . That was the grand illusion of Mr. Martin's career. The time has come to prove him wrong.

But surely, all these things are far too complicated for the ordinary elector to understand. Hence how did the public pierce the mystery and grasp the essential fact that Mr. Martin has been up to no great good. For that is the view that has taken over.

Thus Roy MacGregor (The Globe & Mail 7/06/04 ) sums up the situation.:" With voters putting the boots to Martin so early, it means the public attention span has ample time to wander over to those who might take his place. Two weeks ago the election was Paul Martin's to lose, and it appears he lost it almost instantly; today, it is Stephen Harper's to lose."

This adds up to a crisis of our democratic system. The need for proportional representation, so that minority groups at present unrepresented in parliament will be able to demand vital information that is at present denied the major parties, or who simply fail to fight for it. Being a mjoar party involves a massive dependence on major finances for TV ads, the attaches major parties to our banks with nose-rings.

How then did Mr. Martin's secret get through to them despite its complexity that left Mr. Martin himself confused?

The answer is simple. There has been a massive redistribution of the national income , and with the increasing break-down of or our infrastructure and the ongoing voracity of our banks, it continues, day and night. Heather Scoffield ( The Tories' $90-billion question" Globe and Mail 7/06) sums it up : "Both Tim O'Neill, chief economist of the Bank of Montreal and Dale Orr, managing director at Global Insight (Canada) recognize a scenario such as Conservatives as a viable option, as long as spending is frozen. On the other hand, most economists agree that keeping spending in check will involve cuts to some programs."

That is the great secret that Mr. Martin could only add to, but not hide.

The last bailout of our banks was no one-shot affair, but an ongoing entitlement. When two of our major banks have had fines imposed on them by the regulatory authorities in the US $80 million - quite apart from likely class actions for which they are setting aside reserves - that comes out of the hides of Canadian taxpayers or consumers.

Vital information about Mr. Martin's fiscal prudence comes to voters whenever they go into a store and pay the GST that Mr. Martin as Liberal Finance Minister was supposed to do away with. You can fool the public three times with tales of self-aggrandizement, but the fourth time is a toughie these days.

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