NEW STRATEGIES FOR OUR NEW CANADA:

Shouldn't there be Canadian Quantitative Easing?

September 2014

Since the GMC (Global Monetary Crises) of 2007-2010, the USA has increased their currency supply by $4 trillion (25% of their annual GNP) whereas, Canada has not followed their monetary policy by significantly increasing our money supply. With the USA’s GDP presently 8.8 times the size of Canada’s, an equivalent Canadian monetary policy would have added $455 billion to our Central Bank’s balance sheet. These funds could easily have been pumped into our desperate need for infrastructure renewal.

Also in recent months, in spite of our exemplary Balance Sheet, the Canadian dollar has been forced down by almost 10% by the American financial community. In other words, our largest trading partner has squeezed and extra 10% discount out of all their purchases from us and forced us to pay a 10% premium on their goods that we buy. Compounding this is the proof positive discovered by the Canada Revenue Agency that the foreign owned auto sector and other foreign controlled companies have been undercharging on their exports to the USA so that their profits could be taken in the United States or in their offshore shell companies (The CRA had (has?) an $800 million tax lien against an auto plant due to under invoicing car exports).

The fundamental reality of these two issues (monetary easing and currency devaluation) is that Canadians have been robbed blind by our neighbours. In fact, looking abroad, England and our European allies have done the exact same thing to us. And what is particularly shameful is that our national media and traditional political parties have paid zero attention to this egregious situation.

There are other key financial facts that Canadians have been ignoring as well. Our national accounts do not reflect the reserves we have of non-replenishable and replenishable resources. We will report our national assets value at close to $25 trillion at the end of 2014, but if we included what we know we have access to, our assets would be many multiples of this. The American financiers and overseas financiers all know this, but they have been manipulating our currency values to their extreme advantages since WW II.

There are many innovative options open to Canadians to restructure these factors to increase the productivity of our domestic currency. Unfortunately, the weight of the “free-trade” lobby has influenced our national conscience towards extending this exploitation of our country. This is occurring whilst our trading partners are making all sorts of side deals and approving all sorts of internal industry protective measures with their new trading partners. Further aggravating this financial and monetary gerrymandering is the complete abandonment of our financial and economic sovereignty via international legal agreements. If we elect a government that isn’t willing to expose us to foreign economic domination and exploitation, these deals enable other government sovereign wealth funds and foreign corporations to sue us for contract fulfillment. In other words, Canadian citizens are being held accountable for totally questionable foreign investments in Canada.

What is truly embarrassing is that our negotiators think they have to accept these oppressive deals because they think we don’t have the capital ourselves to develop our own resources and industries. Yet, if they understood what is explained above, then we should not hesitate to create our own domestic capital.

Another misguided rationale for deals like selling 20% of our tar sands to the Chinese, is the idea that these funds will go to some other country to develop their resources. If one takes into account the actual cost of these funds, then Canadians should let them go to Africa, South America or wherever else. Canada’s resources and industries should profit Canadians- not foreign nations or their autocratic billionaire political cronies.

Our ignorant and blind policies of the past have led us to become one of the very highest taxed populations in the world. This financial subjugation to our governments must be reversed as it has been a major contributor to Canada’s past history of begging foreign capitalists for their expensive loans and investments. Canadians have improved our standard of living by the sweat of our brows and the strain of our intellects as wage slaves- not from receiving any personal financial benefit from our natural resources. It is time we accelerated our living standards by sharing our natural resources amongst each other and not just our public sector and foreign entities.

Lest those living in the old paradigms of Keynesian and Galbraith economics see these remarks and observations as a threat to our financial and economic stability due to their imagined fears of reactions by foreign financial barons, please understand that Canadians are above all else, people of integrity. We will stand by our existing contracts while we restructure our place in the global economic and financial arenas. There is no need for existing investors in Canada to fear our changes in the future.

The other very important fact is that many other small economies share these opinions and beliefs and will gladly join Canada in creating a new environment for building our nations. The largest capitalist nations have exploited their colonies and protectorates for 70 years, but now is the time to level the playing field.

Do you share our Vision?