Oh, Canada Movie - Our Bought and Sold Out Land

Great little low-budget big-message movie about how the private banks in Canada have been given the power to create notes from nothing. Funny how when they do it it's called business, commerce, banking, etc... yet if we as individuals were to try this we'd be charged with fraud... shakes head...

www.ohcanadamovie.com

 
CLICK HERE TO DOWNLOAD HQ VIDEO VIA TORRENT

Canada’s Private Banks have no Reserve Requirements

"In Canada, the reserve ratio was phased out in the Bank of Canada Act in 1992. Today, if you look at the Act, you will see the following stanza:"

457. [Repealed, 1999, c. 31, s. 14]

457. (1)Subject to this section, a bank that was in existence immediately priorto the day this section comes into force shall maintain a primaryreserve in the form of

(a) coins with a face value of two dollars or less that are current under the Currency Act;
(b) Bank of Canada notes; or
(c) deposits in Canadian currency with the Bank of Canada.

(2) Subject to subsection(4), the primary reserve referred to in subsection (1) shall not beless on average during any prescribed period than an amount equal tothe average of the monthly levels of required primary reservescalculated for the month in which this section comes into force and forthe preceding 11 months, as determined under section 208 of the BankAct, being chapter B-1 of the Revised Statutes of Canada, 1985.

(3) Where a bank towhich this section applies has been, on the day this section comes intoforce, in existence for less than 12 months, the primary reservereferred to in subsection (1) shall not be less on average during anyprescribed period than an amount equal to the average of the monthlylevels of required primary reserves calculated for the month in whichthis section comes into force and for the preceding months it has beenin existence, as determined under section 208 of the Bank Act, beingchapter B-1 of the Revised Statutes of Canada, 1985.

(4) Onthe first day of the first month following the month this section comesinto force, the primary reserve referred to in subsection (2) shall bereduced by 3 per cent, and thereafter on the first day of the firstmonth of each of the next three succeeding six month periods, theprimary reserve as modified by this subsection shall be reduced by 3per cent, and on the first day of the twenty-fifth month following themonth in which this section comes into force, the primary reserve referred to in subsection (1) shall be nil.