Canada's biggest banks accepted tens of billions in government funds during the recession, according to a report released today by the Canadian Centre for Policy Alternatives.
Canada's banking system is often lauded for being one of the world's safest. But an analysis by CCPA senior economist David Macdonald concluded that Canada's major lenders were in a far worse position during the downturn than previously believed.
Macdonald examined data provided by the Canada Mortgage and Housing...
Canada, called the world’s most resource-rich country, is now being subjected to austerity measures like those imposed on third world countries in earlier decades. It is all done in the name of reducing a federal debt that got out of control in the 1970s, when Canada quit borrowing from its own central bank.
Sometimes those high finance concepts are hard for me to understand, but this cleared it all up. I pass this along in the hope it will help you too. .Understanding Derivatives (Wall Street Finances)- A PrimerHelga is the proprietor of a bar in Detroit.She realizes that virtually all of her customers are unemployed alcoholics and, as such, can no longer afford to patronize her bar.To solve this problem, she comes up with a new marketing plan that allows her customers to drink now, but pay...
On Dec. 15, the Governor-General gave royal assent to Bill C-18. This means that the Marketing Freedom for Grain Farmers Act, the legislation that ends the Wheat Board’s monopoly of wheat and barley sales, is now the law of Canada – or is it?
Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Start
Written by david degraw
Tuesday, 06 September 2011 09:11
Finally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing and billions in bonuses, the criminal cartel members on Wall Street are beginning to get what they deserve. As the Eurozone is coming apart at the seams and as the US economy grinds to a halt, the financial elite are starting to turn on each other. The lawsuits are piling up fast. Here’s an extensive roundup:
OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.
They may be the lowest form of human life, but when it comes to defending their wealth the Financial class are not stupid. They know they need to make us, not them, pay for those debts whatever it costs. That’s why, to quote one leading market analyst, ‘there are still doubts on whether the peripheral countries can deliver on austerity.’ That's their worry now. That is what the financial class sees as the proper and apparently only role of government. DELIVER ON AUSTERITY. That is what...
Banks are still forging foreclosure documents - May get legal immunity
Written by Administrator
Friday, 22 July 2011 00:34
A realtor and bank-owned sign is displayed near a house for sale in Phoenix, Arizona, January 4, 2011.
Credit: Reuters/Joshua Lott
By Scot J. Paltrow
NEW YORK | Wed Jul 20, 2011 6:24pm EDT
(Reuters) - State attorneys general are negotiating to give major banks wide immunity over irregularities in handling foreclosures, even as evidence has emerged that banks are continuing to file questionable documents.
The Military as a Jobs Program: There are More Efficient Ways to Stimulate the Economy
Written by Ellen Brown
Friday, 01 July 2011 02:32
Global Research, June 22, 2011 Web of Debt
"Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. . . . We pay for a single fighter plane with a half million bushels of wheat. We pay for a single destroyer with new homes that could have housed more than 8,000 people."
–Dwight David Eisenhower, "The Chance for Peace," speech given to the...
Mass Strike Surges Through Finland; Could Overturn "Euro" Slave Farm
Written by Administrator
Thursday, 28 April 2011 09:36
In Finnish national elections held April 17, the True Finns party, which opposes the EU-ECB-steered bailouts of the Inter-Alpha banks, stunned the world, and itself, receiving massive backing from the population, and surging from being an obscure minor party, to finishing second, but mere tenths of a percentage point from being the largest party in Finland.
Should We Be Alarmed That The Biggest Bond Fund In The World Has Dumped All Of Their U.S. Treasury B
Written by Administrator
Monday, 14 March 2011 10:10
Bill Gross, the manager of the biggest bond fund in the world, has forgotten more about bonds than most of us will ever learn. That is why the big move that PIMCO has just made is so unsettling. At one time PIMCO held more U.S. government debt than any other bond fund on the globe, but now news has come out that they have gotten rid of all their U.S. government-related securities. So should we be alarmed? For months Gross has been warning that the bull market in bonds is coming to an...
LIFESITE, May 2, 2003 (LifeSiteNews.com) – For many years, astute political observers have noted what appears to be an unusually powerful web of influence over Canadian federal politics by wealthy Canadian businessman and Power Corporation founder, Paul Desmarais senior. The number of Prime Ministers and other elected and influential Canadians financially beholden to the Quebec based Canadian nationalist is astonishing.
It is the criterion of a just money system that what is both socially and physically possible should also be made financially possible.
-Eric V. Encina
Restoring Economic Sovereignty: The Push for State-owned Banks
Written by Ellen Brown
Thursday, 17 February 2011 17:13
Global Research, February 16, 2011
webofdebt.com
"It is time to declare economic sovereignty from the multinational banks that are responsible for much of our current economic crisis. Every year we ship over a billion dollars in Oregon taxpayer dollars to out-of-state and multinational banks in the form of deposits, only to see that money invested elsewhere. It's time to put our money to work for Oregonians."-- Bill Bradbury, former Oregon Senate President and Secretary of...
Global Revolution: The Historic Opportunity of 2011!
Written by Administrator
Saturday, 12 February 2011 11:16
by Helga Zepp-LaRouche
(Translated from German)
An unprecedented drama is currently unfolding on the world stage: The Egyptian people are freeing themselves from a dictatorship, in a process comparable to the fall of the Wall in Germany in 1989. The global financial system's situation resembles a minefield, where the tiniest false step can detonate a chain reaction, leading to the complete disintegration of the financial and banking sector, similar to the collapse in the 14th Century...
RBC sued for predatory practices, falsified foreclosures
Written by Administrator
Tuesday, 01 February 2011 16:50
The RBC Class Action was filed in the Ontario Superior Court on August 10, 2010. In the Statement of Claim, File No. 10-0844, the Plaintiffs are asking the Court for $500,000,000 in damages on behalf of former loyal customers of RBC.
FOR IMMEDIATE RELEASEPRLog (Press Release) – Aug 13, 2010 – (I-Newswire) August 13, 2010 - The RBC Class Action was filed in the Ontario Superior Court on August 10, 2010. In the Statement of Claim, File No. 10-0844, the Plaintiffs are asking the Court...
Public Banking in America - Washington State Joins a Nationwide Movement
Written by Administrator
Friday, 28 January 2011 23:40
Bills were introduced on January 18 in both the House and Senate of the Washington State Legislature that add Washington to the growing number of states now actively moving to create public banking facilities.
The bills, House Bill 1320 and Senate Bill 5238, propose creation of a Washington Investment Trust (WIT) to “promote agriculture, education, community development, economic development, housing, and industry” by using “the resources of the people of Washington State within the...
Has The Financial Collapse Of Europe Now Become Inevitable?
Written by Administrator
Thursday, 27 January 2011 12:06
What in the world is happening over in Europe? Well, it is actually quite simple. We are witnessing the slow motion collapse of the euro and of the European financial system. At this point, many analysts are convinced that a full-blown financial implosion in Europe has become inevitable. Ireland, Spain, Portugal, Italy, France and Belgium are all drowning in an ocean of unsustainable debt. Meanwhile, Germany and the few other "healthy" members of the EU continue to try to keep all...
Former Economic Hitman explains the controlled world monetary system
Written by Administrator
Thursday, 13 January 2011 01:47
Western Civilization and Classical Economics: The Immorality of Austerity
Written by Prof John Kozy
Thursday, 16 December 2010 23:28
When a civilization abandons its morality, no rationalization can be devised to justify its continued existence. It is likely that many reasons can be given for this abandonment in the Western world, although I am convinced that one predominates—the expansion of law. Law once governed various kinds of behavior. It has now encroached upon various kinds of speech and is even being applied to the realm of belief. When someone is accused of having done something wrong, the reply offered usually...
Premier Wen Jiabao shakes hands with his Russian counterpart Vladimir Putin on a visit to St. Petersburg on Tuesday.ALEXEY DRUZHININ / AFP
St. Petersburg, Russia - China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.
U.S. dollar printing is huge risk: China c.bank adviser
Written by Administrator
Saturday, 06 November 2010 15:46
BEIJING | Thu Nov 4, 2010 1:45am EDT
(Reuters) - Unbridled printing of dollars is the biggest risk to the global economy, an adviser to the Chinese central bank said in comments published on Thursday, a day after the Federal Reserve unveiled a new round of monetary easing.
Time for a New Theory of Money: By understanding that money is simply credit, we unleash it as a powerful tool for our communities
Written by Administrator
Saturday, 30 October 2010 00:45
The reason our financial system has routinely gotten into trouble, with periodic waves of depression like the one we’re battling now, may be due to a flawed perception not just of the roles of banking and credit but of the nature of money itself. In our economic adolescence, we have regarded money as a “thing”—something independent of the relationship it facilitates. But today there is no gold or silver backing our money. Instead, it’s created by banks when they make loans (that...
by Luiza Ch. Savage on Tuesday, September 14, 2010 7:32am - 309 Comments
Danny Wilcox Frazier/Redux/ Robert Galbraith/Reuters/ Shannon Stapleton/Reuters
In February, the board of commissioners of Ohio’s Ashtabula County faced a scene familiar to local governments across America: a budget shortfall. They began to cut spending and reduced the sheriff’s budget by 20 per cent. A law enforcement agency staff that only a few years ago numbered 112, and had subsequently...
Big Wall Street Banks Have Found A New Way To Strangle The American People: Predatory Property Tax
Written by Administrator
Thursday, 21 October 2010 15:41
It turns out that the big Wall Street banks have found a dirty new way to make loads of cash from U.S. homeowners, and they really, really don't want to talk about it. So what is this dirty new business? America's biggest financial institutions have become property tax collectors, and it is extremely lucrative.
