December 22 2011, Toronto Ontario
Rocco Galati explains the lawsuit against the Bank Of Canada and the Finance minister.
Apologies for video quality and shakiness, When I got there and started setting up the camera, it literally died [not the battery but the camera itself] right there on the spot. Got what I could on cell phone camera.
Full press release:
Canadian constitutional lawyer, Rocco Galati, on behalf of Canadians
William Krehm, and Ann Emmett, and COMER (Committee for Monetary and
Economic Reform) on December 12th, 2011 filed an action in Federal Court,
to restore the use of the Bank of Canada to its original purpose, by
exercising its public statutory duty and responsibility. That purpose
includes making interest free loans to municipal/provincial/federal
governments for "human capital" expenditures (education, health, other
social services) and /or infrastructure expenditures.
The action also constitutionally challenges the government's fallacious
accounting methods in its tabling of the budget by not calculating nor
revealing the true and total revenues of the nation before transferring
back "tax credits" to corporations and other taxpayers.
The Plaintiffs state that since 1974 there has been a gradual but sure
slide into the reality that the Bank of Canada and Canada's monetary and
financial policy are dictated by private foreign banks and financial
interests contrary to the Bank of Canada Act.
The Plaintiffs state that the Bank of International Settlements (BIS), the
Financial Stability Forum (FSF) and the International Monetary Fund (IMF)
were all created with the cognizant intent of keeping poorer nations in
their place which has now expanded to all nations in that these financial
institutions largely succeed in over-riding governments and constitutional
orders in countries such as Canada over which they exert financial
The Plaintiffs state that the meetings of the BIS and Financial Stability
Board (FSB) (successor of FSF), their minutes, their discussions and
deliberations are secret and not available nor accountable to Parliament,
the executive, nor the Canadian public notwithstanding that the Bank of
Canada policies directly emanate from these meetings. These organizations
are essentially private, foreign entities controlling Canada's banking
system and socio-economic policies.
The Plaintiffs state that the defendants (officials) are unwittingly and
/or wittingly, in varying degrees, knowledge and intent engaged in a
conspiracy, along with the BIS, FSB, IMF to render impotent the Bank of
Canada Act as well as Canadian sovereignty over financial, monetary, and
socio-economic policy, and bypass the sovereign rule of Canada through its
Parliament by means of banking and financial systems.