Jun 022015
 

For More information than below, see:  Website,  Committee on Monetary and Economic Reform (COMER):   http://www.comer.org/

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Excellent, about COMER:   (2015-05-07)   Rocco Galati, Interview with Amanda Lang CBC News. Constitutional Rights.

The COMER LAWSUIT argued by lawyer Rocco Galati,  has an intensely-interested following!  Canadians should know about it.

The basis for the lawsuit:  the Government is bound by the Laws that established the Bank.

(Canada is not the only country in which there is challenge of the sell-out to international banking interests.)

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A good video on the history of the Bank of Canada, and the consequences of the takeover by private banking interests:

https://www.youtube.com/watch?v=JuP2hH0Kpro

Retired school teacher, Bill Abram,  shows charts of Canadian Government debt before and after the foreign banking cartel caused Canadian politicians to abandon the Government role of creating money by “spending” it into existence.   From 1935 to 1974, the Bank of Canada printed money which was spent on such things as wages for workers on public infrastructure.  By that means the money went into circulation to meet the need for a medium of exchange for goods and services.  There was no debt created (little or no interest charges) for Canadian tax-payers.

The use of private banks, instead of the public bank,  to create money is quite different.  The “money” that is “created” is actually debt, all of which attracts interest charges.  ALL entities (from Government to businesses and individuals) deal with the private banking system, since the change in 1974.    The amount of debt paid to the private bankers for public purposes by tax-payers is staggering.  Interest-upon-interest.  Some get VERY rich;  it does not serve the public interest.  Abram does a good job of explaining what we have forfeited – –  and what Rocco Galati, through COMER, is intent upon reclaiming.   (A revolution is underway, I dare say!)

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THE PUBLIC BANK FOR THE STATE OF NORTH DAKOTA    (Many thanks to Jerry for the correction.  I originally said Bank of Montana.)

North Dakota did not bow to the private banks.   It still has its public bank that works like the Bank of Canada used to work.   Very successfully.

Many thanks to Jerry (“Comments” below)  for a short explanation and direction to more information.

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  • The role of the Bank of Canada is set in Law (largely forgotten).
  • The public bank in North Dakota (exists for the purpose of financing public infrastructure projects, at zero interest.   Same as Bank of Canada did, up until the 1970s)
  • How does the (American) Federal Reserve work?  It’s a private bank, not Government owned as many believe.
  • The role of debt in the “creation” of money.
  • Galati’s constitutional challenge to set the Bank of Canada right, to remember and reclaim.

  2 Responses to “COMER (the Committee on Monetary and Economic Reform)”

  1. It’s the Bank of NORTH DAKOTA since 1919

    Banks all state revenues, cuts deals foe farmers and students, helps small banks

    Profitable surplus. low unemployment avoids the Wall Street banksters

    ELLEN BROWN at PUBLIC BANKING Institute “WEB of Debt” book

    (tell her I sent you ! )

    • Many thanks Jerry. No wonder I couldn’t find a bank of Montana! I’ll correct the posting and follow up with Ellen Brown.

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