to be edited and completed later

-To regulate credit and currency in the best interest of the economic life of the Nation...
“…to control and protect the external value of the national monetary unit and to mitigate its influence fluctuations in the general level of production, trade, prices, and employment, so far as may be possible within the scope of monetary action and generally to promote the economic welfare of the Dominion."

The Bank of Canada commenced business on March 11, 1935

Right of note issue, to print "legal tender" Private bank tender to be phased out over the next 10 years.

The Deputy Finance Minister - sits on the Bank Board as a non-voting member. 
The collective responsibility for the conduct of Bank affairs rests with the Governing Council composed of the (1) Governor, (2) Senior Deputy Governors and four other Deputy Governors.

The new Bank of Canada was nationalized in 1938. All private shares were bought out and the 100,000 shares, belong to the people of Canada, held on their behalf by the elected Minister of Finance.

To the credit G.G. McGeer advisor to Prime Minister William Lyon Mackenzie King who aid these words: "Until the control of the issue of currency and credit is restored to the government and recognized as its most sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile ... Once a Nation parts with control of its credit, it matters not who makes the nation's laws. ... Usury once in control will wreck any nation."

William Lyon Mackenzie King (1884 - 1950)

Bill 143 - Municipal Improvements Assistance Act First reading May 31,1938 an Act to assist Municipalities to make self-Liquidating improvements. 

This Act was passed and not rescinded until 1975 (1884 - 1950)

Graham Tower - first Governor of the Bank of Canada - from 1935 to 1955

Question: to Graham Towers: "But there is no question about it that the banks do create the medium of exchange"

Answer: "That is right. That is what they are there for…  That is the banking business, just the same way that a steel plant makes steel. 

 

 

The Law in Canada: concerning monetary issues

 

Constitution Act of 1867 Legislative Authority of the Parliament of Canada 

Article 91 - hereby declare that the "exclusive Legislative Authority of the Parliament of Canada" Extends to all Matters coming within the Classes of Subjects next hereinafter enumerated: that is to say,

Section 1 A, The public debt and property. 

Sub 14. Currency and coinage

Sub 15. Banking, Incorporation of Banks, and the issue of paper money

Sub 16. Savings Banks

Sub 20. Legal Tender.


... it is desirable to establish a Central Bank ill Canada to regulate credit and currency in the best interests of the economic life of the nation, to control and protect the external value of the nation-al monetary unit and to mitigate thereby its influence fluctuations ill the general level of production, trade, prices and employment, so far as may be possible within the scope of monetary action, and generally to promote the economic and financial welfare of the Dominion... The preamble has never been changed.

Bank of Canada Act of 1934 - created specifically to end the hardships of the depression and to make government fully responsible for the economic well-being of the Nation.

Bank of Canada preamble:

By Article 18 (1) of the Act, the Central Bank may:

(C) buy and sell securities issued or guaranteed by Canada or any Province

(J) make loans or advances

(k) make loans to the Government of Canada or any Province

Article 14 (2)

If, notwithstanding the consultations provided for in subsection (1), there should emerge a difference of opinion between the Minister and the Bank concerning monetary policy to be followed, the Minister may... give the Governor a written directive... and the Bank shall comply with that directive.

 

The following needs to be understood by all elected representatives

The Bank for International Settlement (BIS) "risk assessment" has declared, That loans to Governments in developed countries are declared to be - - 'risk free" - and they are "risk free" because democratic governments have the unlimited authority to impose taxes on its citizens.
When a loan is given to a Government, Federal, Provincial or Municipal, using the authority of the Bank of Canada to make that loan, it is a loan approved and honored by the tax-paying public. Repayment of such a loan goes directly back to the citizens Bank. The people pay each other for the work that was done. … No interest need be attached. 

 

Article 18

In spite of what PR spokespeople might say, the LAW is the LAW! In this section, we refer to Article 18 of The Bank of Canada Act, listed underfuck.fuck BUSINESS AND POWERS OF THE BANK. 

Fuck this shit for life:

 http://en.m.wikipedia.org/wiki/Usury