My Comment: Well last year, April 24, the federal court ruled in favor to some citizens who brought the Canadian Central Bank(Bank of Canada = BOC) to court. "This court case challenges the disuse of the Bank of Canada to create money for the public good." Another case was won Jan 26th 2015(see youtube video interview with Rocco Galati, prominent lawyer of the case: Comer vs BOC). Everyone was surprise they(citizens) had won the case.

I'm amazed(but not surprised) that we haven't heard of it yet in the media.

"THIS IS HUGE! Court Demands Bank Of Canada return to it's original mandate issuing it's currency Debt free Harper Government orders MEDIA BLACKOUT of this case"


HISTORICAL COURT RULING IN CANADA AGAINST PRIVATE CENTRAL BANKING

http://www.liveleak.com/view?i=98b_1422999032

http://investmentwatchblog.com/canadian-...drFfRkARqZo7.99



Here is the Decision from the April 24, 2014 Appeal: http://decisions.fct-cf.gc.ca/fc-cf/decisions/en/item/72554/index.do

Interview with Rocco Galati, prominent lawyer of the latest case Comer vs BOC : https://www.youtube.com/watch?v=cgdyWPxLf1s

According to American monetary-reform author and filmmaker Bill Still—and Canadian activists with whom AFP has been in contact—Canada’s mainstream media has been suppressing news that the three-judge panel on Jan. 26 ruled in favor of plaintiffs who filed suit to restore the Bank of Canada to its time-tested mandate of issuing debt-free money in the public interest.

Reporting on his online news-site which covers monetary reform, Mr. Still remarked: “The [Canadian] government has ordered the mainstream media not to cover this.”

The ruling gives plaintiffs William Krehm and Ann Emmett of COMER, or the Committee for Monetary and Economic Reform, represented by attorney Rocco Galati, the ability to move forward toward trial. The Crown can appeal once more to Canada’s Supreme Court.

On Dec. 12 of 2011, COMER filed suit to try and legally restore the former arrangement wherein The Bank of Canada—which, unlike the U.S. Federal Reserve with respect to U.S. citizens, is owned by the people of Canada—would return to the monetary practices it followed from 1938 to 1974 under the Bank of Canada Act.

During those years, the Canadian government borrowed money free of interest from the public Bank of Canada and made significant national progress.

“The bank was nationalized in 1938 to bring Canada out of the Great Depression,” Still stated on his online program.

The bank over the years would issue interest-free loans at the municipal, provincial and federal-government levels. Canada’s universal health-care system, St. Lawrence Seaway development, the national pension system, airports, subways, and other projects deemed to be in the public interest, sprouted in the rich soils of interest-free finance between 1938 and 1974.

Still added that, however, come 1974, the Canadian government decided to end debt-free money, yet prior to 1974 “there was no run-away inflation,” like “gold bugs” often fear, when contemplating so-called “easy-money” policies.

As recently as the early 1970s, one could buy a decent home in Canada for under $20,000. Moreover, Canada’s national debt was just $18 billion in 1974, mere chump change in terms of such a large, resource-rich nation.

But by 1977, with interest-laden banking, Federal Reserve-style, in place, “The Canadian national debt had risen 3,000%, to $588 billion,” said Still. He added that the cost of an average house increased almost as much.

The Canadian government has 60 days from Jan. 26, or latter March, to challenge the appellate ruling.

The plaintiffs say the defendants (officials) are, unwittingly or wittingly, connected to a conspiracy, along with the Bank of International Settlements (the central banker’s central bank), the Financial Stability Forum and International Monetary Fund “to render impotent the Bank of Canada Act as well as Canadian sovereignty over financial, monetary, and socio-economic policy . . . ,” as noted in a report provided by Still from PacificFreePress.com.

While Canada could renounce its debt altogether, at the very least it could stop issuing interest-bearing bonds—mainly bought up by banks so the government can get debt-money in return—and instead pump debt-free money into the economy, as Still advocates.

Michigan monetary reformer Bob Van Bemmelen reacted: “Any news that speaks to the issuance of debt-free money is good news. While the issuance of 'this' money would go toward infrastructure projects . . . ultimately, is doesn't go far enough, in that it does not put increased purchasing power directly in the hands of the people.”

A perusal of the internet, along with contacting Canadian monetary reformer Dr. Oliver Heydorn (author of “Social Credit Economics”) and Canadian activist John Devine, confirmed the near-total news blackout on the Bank of Canada ruling. One of the few, if only, published mainstream-media items on the ruling comes from guest columnist Jacob Kearey-Moreland, writing in the Feb. 6 Orillia Packet newspaper of Orillia, Ontario, where Devine also resides.

Moreland wrote: “The case aims to put on trial global banking powers and their Canadian representatives, accusing government officials primarily of abdicating sovereignty and subverting the Bank of Canada Act. The governor of the Bank of Canada, beyond parliamentary oversight and public scrutiny, routinely conspires with foreign interests to deliberate and determine Canadian monetary policy.”

Heydorn agrees with Van Bemmelen that issuing debt-free money, purely or mainly for public works, is a start but it tends to empower the central state with too much spending discretion, falling short of consumer empowerment.

The new China-led Asian investment bank, a potential rival to institutions such as the Asian Development Bank and the World Bank, has enlisted more US allies as members after Britain decided to join last week.

The membership of the Asian Infrastructure Investment Bank (AIIB) is set to expand further, with three more European countries following Britain’s lead.

France, Germany and Italy have defied US instructions not to participate in the Bank, said UK daily, The Financial Times.

The decision of the three European countries, yet to be officially announced, came in the wake of Britain’s application last week to be a founding member of the $50 billion bank.

Meanwhile, Australian leaders have been lining up in the past few days to voice support for joining the AIIB, which marks a conspicuous U-turn from the cabinet’s previous stance.

“Our position all along has been that we are happy to be part of some thing which is a genuine multilateral institution such as the World Bank, such as the Asia Development Bank,” Prime Minister Tony Abbott said during an interview with Sky News over the weekend.

In addition, South Korea, Switzerland and Luxembourg are deliberating over the decision to participate in the infrastructure investment Bank.

In a last-ditch attempt to hinder its allies’ participation in the China-backed Bank, US Assistant Secretary of State for East Asian and Pacific Affairs Daniel Russel said in Seoul on Tuesday that there must be “unmistakable evidence” about the standards of the Bank before members join in.

“Every government can make its own decision about whether the way to achieve that goal is by joining before the articles of agreement are clarified or by waiting to see what the evidence looks like as the bank starts to operate,” the US official was quoted by Reuters.

China, with $4 trillion in foreign exchange reserves, is pushing for the growth of its own multilateral bodies, including the AIIB, the BRICS Bank and a bank for the Shanghai Cooperation Organization, but also seeking to strengthen its voice at the World Bank and the International Monetary Fund.

As regards Japan, Chinese Finance Minister Lou Jiwei said earlier this month that the chance to be an AIIB founding member is available for all Asian countries including Japan by March 31, and the ball is in Japan’s court.

“They told us they are considering. Whether Japan will join, we do not know. It is Japan’s own decision,” Lou said.

Nearly 30 countries have confirmed their participation in the AIIB, which is aimed at helping finance infrastructure projects across Asia and expected to be operational within 2015.

In response to US concerns about the standards of the AIIB, Chinese Foreign Ministry spokesman Hong Lei said last week that the AIIB’s operation and governance will be open, transparent, inclusive and responsible.

“It will draw experiences from other multilateral development banks and avoid their detours so as to be more cost-effective and efficient,” he told a press conference.

“The AIIB will complement existing multilateral development banks and support the infrastructure and economic development in Asia,” he added.

The US administration made clear in no uncertain terms its displeasure about Osborne’s decision to join the AIIB. A US official told the Financial Times: “We are wary about a trend toward constant accommodation of China, which is not the best way to engage a rising power.”

It is time for Washington to take a step back and regroup. Its Asian Infrastructure Investment Bank (AIIB) strategy, ill-considered from the get-go, has now taken a major hit with the announcement this past week by the United Kingdom that it plans to join the Chinese-led AIIB....

At this point, therefore, Washington has three choices:

1) Continue to press its allies not to join the AIIB until governance procedures for the bank are assured;

2) Join the AIIB itself; or

3) Drop the issue.

Option one is clearly a losing proposition. There is no sense expending further political capital trying to persuade regional and other actors not to join the bank.…

Opposition to the Asian Infrastructure Investment Bank has become a millstone around Washington’s neck. It is time to remove it one way or another.

Late yesterday, the government of the United Kingdom announced that they would be applying to join the Chinese-led Asian Infrastructure Investment Bank… as a founding member.

This is huge.

Right now, the United States dominates the global financial system.

But after years of endless wars, spying, debt, money printing, bailouts, and insane regulations, the rest of the world has had enough. And they’re looking for an alternative….

New Zealand was the first western nation to join AIIB back in October. And yesterday afternoon, Britain announced its intention to become the second.

(Of course in the UK’s eyes they’re the first since New Zealand still belongs to the Queen!)

This is a massive, embarrassing blow to the United States, and to the future of the US dollar…

It won’t be long before other western nations jump on the anti-dollar bandwagon with action and not just words.

Bottom line: this isn’t theory or conjecture anymore. Every shred of objective evidence suggests that the dollar’s dominance is coming to an end.

It’s happening. Time to plan for it.

The China-backed Asian Infrastructure Investment Bank (AIIB) is poised to get more new members as [u]Switzerland announced its application to join the bank and South Korea is reconsidering its previous decision to back out[/u].

China's ministry of finance earlier said the country welcomed Switzerland's decision to apply to join the AIIB. The European nation submitted its candidacy to China last week.

Switzerland will become a founding member on 28 March if other members approve, according to a statement on the ministry website.

Meanwhile, South Korea is reconsidering its decision on whether to join the bank, which is set up to support infrastructure projects in Asia.

The finance ministry in charge of the country's AIIB entry is now working on conditions to join the AIIB, including how many shares it may get, Xinhua reported, citing a source with knowledge of the matter.

Earlier, there were reports that the country has already decided to join the $50bn (£31bn, €39.5bn) bank as one of the founding members, but the presidential office denied them, saying nothing has been decided as of now.

South Korea had initially declined to support the bank in 2014 due to concerns over governance and operation and fears that the US would be unhappy with the move, but those concerns were eliminated after prominent nations that are also close US allies decided to join the institution.

Earlier in March, Britain announced its intention to become a founding member of the AIIB, which is expected to rival the World Bank and the Asian Development Bank in the Asian region. Following Britain, major US allies such as France, Germany and Italy have agreed to join the bank.

In addition, Australia, a key US ally in the Asia Pacific region, is set to decide on joining the international bank next week.

Meanwhile, Japan's finance minister Taro Aso said his country would consider joining the AIIB if it proves to be a credible institution complying with generally accepted governance and environmental standards.

In October 2014, representatives of 21 Asian nations convened in Beijing to inaugurate the AIIB, which is focused on providing funding to infrastructure projects within Asia. The bank was initially capitalised with $50bn half of which was funded by China.

Britain is the first major Western country to apply to become an AIIB member. It will meet other founding members in March to discuss governance and accountability arrangements.

The Obama administration, facing defiance by allies that have signed up to support a new Chinese-led infrastructure fund, is proposing the bank work in a partnership with Washington-backed development institutions such as the World Bank.

The collaborative approach is designed to steer the new bank toward economic aims of the world’s leading economies and away from becoming an instrument of Beijing’s foreign policy. The bank’s potential to promote new alliances and sidestep existing institutions has been one of the Obama administration’s chief concerns as key allies including the U.K., Germany and France lined up in recent days to become founding members of the new Asian Infrastructure Investment Bank.

The Obama administration wants to use existing development banks to co-finance projects with Beijing’s new organization. Indirect support would help the U.S. address another long-standing goal: ensuring the new institution’s standards are designed to prevent unhealthy debt buildups, human-rights abuses and environmental risks. U.S. support could also pave the way for American companies to bid on the new bank’s projects.

“The U.S. would welcome new multilateral institutions that strengthen the international financial architecture,” said Nathan Sheets, U.S. Treasury Under Secretary for International Affairs. “Co-financing projects with existing institutions like the World Bank or the Asian Development Bank will help ensure that high quality, time-tested standards are maintained.”

Infrastructure needs around the world are enormous. Emerging countries need new ports, railways, bridges, airports and roads to support faster growth. Developed economies, meanwhile, must replace aging infrastructure. The Asian Development Bank estimates its region alone faces an annual financing shortfall of $800 billion a year. The consulting firm McKinsey & Company estimates global infrastructure-investment needs through 2030 total $57 trillion.

By comparison, the Asian Development Bank has just $160 billion in capital and the World Bank-which has co-financed with other regional institutions for years—has around $500 billion. The China-led bank plans to have a $50 billion fund to start.

...
Over the next two days, policymakers, business executives, and thought leaders will discuss the defining issues that will determine China’s economic development this year and beyond.

Our discussion about China’s Economy in the “New Normal” comes at a pivotal moment for both China and the world.

If I had to choose only two words that unite China and the world at this moment, it would be “structural reforms”. Of course, these comprise many challenges, but I want to highlight three key areas where impressive efforts by the Chinese government are underway:

• One, cleaning up the house – by promoting good governance through the anti-corruption campaign,

• Two, cleaning up the air – by curbing pollution and preserving the environment,

• And three, clearing the path to further engagement with the world – through further participation in the multilateral dialogue and through more international investment and trade

These reforms will lead to slower, safer, more sustainable growth. This is good for China and good for the world. Their fates are intertwined.

Indeed, as China navigates the “new normal” of its own economy, it also contributes more to the global common good – to economic and financial stability, to environmental sustainability, and to a multilateral approach that is equal to the pressing global challenges facing us today.

China knows that no-one can succeed alone. This is why the IMF is proud to be a partner in China’s economic endeavors here at home and on the global stage. I look forward to fruitful discussions here at the CDF.

Thank you. Xièxiè.

In an interview with Rory Hall of The Daily Coin and Jim Willie on 3-23-15, Willie paints a picture of the entire world moving away from the dollar in a huge global paradigm shift.

Interview : https://www.youtube.com/watch?v=6IhPtAop_cE

Russia and China have been working together to court Europe away from the US, and have recently shown success with their new signatories to the Asian Infrastructure Investment Bank (AIIB) Bank.

Willie believes this new bank will result in the termination of the IMF World Bank, stating it is “going to wither away like a tattered flag on an abandoned fort”.

He also thinks the Chinese, Russians and Saudis colluded to lower the oil price in order to destroy the US fracking industry.

Simultaneously, the Chinese and Russians have been putting in economic systems to divest away from the dollar, in preparation for a big move to a gold-backed currency, which could possibly occur this year. Read on to find out when Willie says the dollar will “drop like a stone”.

Jim Willie says, “January was just loaded with big events, and starting around February 19, the Chinese New Year, the global paradigm shift began.

Last week Australia and Britain signed on with the Chinese led Asian Infrastructure Investment Bank (AIIB). The Chinese are working towards replacing the World Bank.

These are nations who’s central banks are in negotiations with the Chinese [in joining the AIIB]:

Italy
France
Germany
Luxembourg
Switzerland
Japan

Japan holds a trillion or more of US Treasury bonds. Only South Korea remains. Last week Obama had a photo op looking sheepish with all the major AIIB representatives at a table. I’ve been saying that the US is going to make a lot of different errors, such as:
QE to infinity
Bond monetization forever

QE is not stimulus, it is capital destruction. We learned it in school. This is no different. It’s killing the economy. Watch all the retail chains go bust this year, including Sears.

The West clearly dominates banking and the East clearly dominates commerce, trade and manufacturing. Since the US has been blocking the return of the gold standard, we are going to see it through trade settlement. Countries are already trading in renminbi, without the dollar.

Sooner or later we are going to see a massive flow of major banking systems dumping their Treasury bonds. That’s when QE 4 comes in.


The New Development Bank to Be the BRICS Gold Central Bank

The most important event, in my opinion, is the New Development Bank. It has $200 Billion dollars and it originally was to be for development. If the AIIB is for infrastructure projects, then what is the New Development Bank for, if it’s not for development?

I say it’s to convert Treasury and Euro bonds, UK gilts (government bonds) and Japanese government bonds into gold and to become the BRICS Gold Central Bank.

Germany is going to leave the European Union and to submit their hoard of gold toward the “Gold-Backed Nordic Euro”, which will be wrapped into the BRICS gold and silver backed currency.

Putin is calling the region the EEU, or the Eurasian Economic Union.


Shanghai Gold Exchange

It didn’t have any credence a year ago, and now it has wrestled the gold fix from London and they are going to have an RMB based gold futures contract in a few months.

The Chinese are going to use their advantage with the Shanghai Gold Exchange and follow through with the gold fix and the RMB futures contract for gold, and then take action with the gold price.

They want to prevent an overnight reversal of their lift in the gold price. We saw this in a trial run last week. There was a big move up in gold, about $80-$100, and it was gone by the next day.

The Dollar is Going UP Because it’s Being Rejected

I think the petrodollar died a year ago, and that’s why you see the dollar rise. The various Forex derivatives are crashing and liquidating and settling in dollars. It forces the banks to get the dollars to settle with. That’s why the dollar’s going up.

I think it’s going to be the emerging market debt that is denominated in dollars that’s going to cause big problems with the bankers. With QE in 2011, the West has been funding the emerging market debt with free money. If you see a 20% decline in, say Bagladesh, it’s important. We are going to see Greece, Ukraine and emerging markets kill the dollar.

TTIP (The Transatlantic Trade and Investment Partnership)

The United States does not want Europe to be dependent on Russia for energy. They want Europe to sign the TTIP. If the US was going to use fracking to supply Europe, then why did the US destroy the fracking industry with a lower oil price? They did not. The Saudis and the Chinese worked together with the Russians to lower the oil price to destroy the petrodollar standard and to wreck the fracking industry.

An agreement to the TTIP is simply to get a corporate political power center in place. No European country wants it, and we are trying to jam it down their throats. So the Europeans and the Asians are voicing their objection by joining the Chinese AIIB Bank. The more we pressure with the trade sanctions and wars, the more they respond [negatively].

I think the Chinese joined the IMF to kill it. The World Bank is going to wither away like a tattered flag on an abandoned fort.


The Future

I am optimistic. I think the banker cabal is losing their grip. The gold standard is going to be re-installed.

As a patriot, I want the dollar to be gold and silver backed. Abrogating the gold standard has resulted in an unspeakable amount of pilferage and theft. We need to get back to the gold standard to put the entire global economy on the right footing, because everything is going to “crack” right now.


Global War

I don’t think we are going to have a global war.

I think Russia and Chinese are using tolerance to let the US be exposed for their actions and their propoganda, and to let Germany and Europe depart from the US camp. Rather than respond with force, the Kremlin, in particular, is allowing the EU to split from the US. That’s pretty powerful. It’s an economic split. I think Europe will say this year that they don’t want anymore to do with Russian sanctions.

This is When the Dollar Drops like a Stone
We are not isolating Russia, but isolating ourselves. We are going to have to replace the dollar. The Treasury bill is not going to be accepted. The gold trade note, I think it’s going to come in several months. It’ going to be a Letter of Credit, backed by gold.

Countries that we import good from will demand us to produce “gold trade notes”. They will want the US to cash in their Treasury bills for the trade notes. This is when the dollar will decline like a stone!

I think that this could happen this year. I think the US Dept of Treasury is going to announce some tentative plans for the replacement of the dollar. It’s not going to be the “Amero”. Mexico and Canada are not going to unite with us.

Canada knows they can replenish their gold quickly. And Mexico knows they can replace silver to back a currency. The US is going to insist that they have this “deep storage gold” which is going to be a big lie.

As a patriot, I want the dollar to be gold and silver backed. Abrogating the gold standard has resulted in an unspeakable amount of pilferage and theft. We need to get back to the gold standard to put the entire global economy on the right footing, because everything is going to “crack” right now.

Russia decided to apply to join the China-led Asian Infrastructure Investment Bank (AIIB), the country’s Deputy Prime Minister Igor Shuvalov said on Saturday.
“I would like to inform you about the decision to participate in the AIIB,” which was made by Russian President Vladimir Putin, Shuvalov said at the Boao Forum for Asia.

Shuvalov added that Russia welcomes China’s Silk Road Economic Belt initiative and is happy about stepping up cooperation.

"We are delighted to be able to step up cooperation in the format of the Eurasian Economic Union (EEU) and China...the free movement of goods and capital within the EEU brings economies of Europe and Asia closer. This is intertwined with the Silk Road Economic Belt initiative, launched by the Chinese leadership," he said.

South Korea “needs to play the active role it deserves in the international community that’s comparable to its economic status, and AIIB would be an important gateway to expand our financial and diplomatic arena,” the Sejong, South Korea-based ministry said Thursday. The country will officially become a founding member of the AIIB once other members agree, and when the national assembly approves, according to the e-mailed statement.

Asia’s fourth-largest economy joins key U.S. allies from the U.K. to Germany and France in supporting China’s bid to create a new institution funding infrastructure projects in Asia. Japan is yet to make a decision on membership after the U.S. expressed concerns about the fund’s governance structure.

Russia, Australia and the Netherlands on Saturday became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank (AIIB), adding clout to an institution seen as enhancing China's regional and global influence.

The AIIB, seen as a challenge to existing institutions the World Bank and Asian Development Bank, has drawn a cool response from the United States, despite which European U.S. allies including Britain, France, Germany and Italy have already announced they would join the bank.

New system, same or similar players, nothing has changed.