Canadians must confront the fact that without a Glass-Steagall re-organization of the world financial system, then Canada, like every nation within the Trans Atlantic system, is doomed to suffer the effects of the deepest economic collapse in history. While Governments across Europe are quickly waking up to the depth of this systemic crisis, and calls are being made increasingly from various quarters to change the system with a full Glass-Steagall bankruptcy reorganization, Canada’s biggest obstacle is found in its leaders’ continued belief that its banks truly are the safest in the world. Canada did after all, weather the “storm of 2009” with minimal damage relative to other economies due to our “conservative banking culture” which has imposed higher capital reserve ratios than the USA, and avoided the speculative debt frenzy that gripped so many other nations… or did we? In fact the “storm of 2009” was merely a small wave striking the shoreline, as a much larger tsunami was already racing towards us.
This issue of the Patriot is designed to cut through this mythology in the first section, and then lays out in sections 2-4, the necessary steps to a full economic recovery as laid out clearly for years by American Statesman Lyndon H. LaRouche.
Section One features Executive Intelligence Review Economist Dennis Small’s presentation of the Cyprus Bail-in model being applied internationally as the last phase of the economic collapse sets in. This is followed up by a recent discussion by the CRC leadership on the Canadian situation and a history of the Nazi Roots of the Bank of International Settlements (BIS). Section one ends with a chronology of the Bail-in scheme since its original formulation in 2010. This was not something cooked up recently.
Sections two and three focus upon the need to restore Glass-Steagall banking standards globally, and the true intention of the American System National Banking system that not only the United States must re-adopt if it is to survive, but which the Bank of Canada must be re-organized to accommodate post haste. Section 2 feature articles on the progress of Glass-Steagall legislation being advanced in various countries now, and includes the original H.R. 129 Return to Prudent Banking Act now in the American Congress which Canadian policy makers would do well to study closely. Section 3 presents the introduction to draft legislation for a new Hamiltonian Banking System also being circulated in the United States written by historian and physical economist Michael Kirsch.
We end our Patriot, with a final section on NAWAPA XXI as a necessary program for continental water and energy development which holds within it all of the seeds necessary to rebuild the physical, intellectual and moral fibre of our North American nations in a post-imperial world.
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