On Wednesday 12th October I watched a program on CPAC from the Growth Summit and was once again amazed and disgusted at what you said during your interview with Amanda Lang.
The subject of an infrastructure bank came up very quickly in the interview and you made no bones about the fact that you wanted your new infrastructure bank to be financed by “heavy hitting” investors, with lots of money to spend. In other words, the Infrastructure Bank of Canada will be a new private bank, controlled by private interests both domestic and international to give you more credit that is created with a computer key stroke, but no new money.
What absolute economic and financial gibberish Mr. Morneau.
You already have, through the Bank of Canada Act, the mandate and the ability to use the Bank of Canada for just this purpose, and much more, and yet you stubbornly want our public bank – yes the Canadian peoples’ bank – to simply be an inflation watchdog!
Simply astonishingly and blindly foolish.
Why can no politician in Canada comprehend that our national debt is growing by leaps and bounds partly due to the compounding interest rates being charged to carry it. A simple research shows that the largest single payment the Ministry of Finance has to cope with is in fact the interest on our national debt. Surely even you know that! Yet you want to increase this national debt with compounding interest to a new collection of credit granting bloodsuckers!
You even mentioned that this new bank could well be subject to contravening trade agreements. I can only assume you are referring to the investment agreements signed by the Harper government which did nothing for trade. Your fellow Cabinet Minister Freeland should be able to help you with the deficit figures as a result of all those so called free trade agreements. You obviously realise these investment agreements will dictate who we can borrow money from unless we want to be taken to a tribunal, or in the case of CETA a mock court of unknown jurisprudence.
You also talked of educating Canadians on how important trade is to us when we already know this, and are very frustrated with trade agreements that have little or nothing to do with trade but everything to do with corporate profits and the loss of Canadian Sovereignty. Pease desist in insulting our collective intelligence about trade when it is not trade you or your government are interested in at all, rather it is the complete corporate takeover of Canada’s sovereignty which your government is seeking. You do not have that right Mr. Morneau.
Mr. Morneau, just where is your mandate to NOT use the Bank of Canada as opposed to the mandate granted by the Bank of Canada Act? The frequently used excuse of causing inflation is simply disproved by what happened between 1935 and 1974, the period of Canada’s greatest growth and prosperity.
Your obvious intention to run up our national debt owed with compounding interest rates to international banks and investors instead of using our own Bank of Canada is very clearly announced with your new privately owned and financed Infrastructure bank.
Between you, the Minister for Trade and our Prime Minister it is blatantly clear that you are completely disinterested in sound management of our affairs indeed you are breaking all records established by Harper to turn the country into one controlled by investment profits for international corporations by this immensely foolish bank and through CETA, TPP & TiSA investment agreements you wrongly call Trade agreements. Canadians welcome real trade but despise agreements under that name which are a sham.
You have not been able to show anyone where your government was given a mandate to do this to Canada. A majority of seats in the House does not give you that mandate to throw Canada to the corporate wolves of this world any more than it did for Stephen Harper. So Mr. Morneau, when and where and by whom were you given this mandate for the continued destruction of Canadian Sovereignty illegally started by Harper’s hatred of Canada and Canadians?
May I remind you that on page 19 of the new Canadian passports there is a quote from the Rt. Honourable John Diefenbaker which reads this way:
“Parliament is more than procedure; it is the custodian of the nation’s freedom”.
You and all other MPs currently sitting in that place appear to have forgotten that or are simply ignoring it and I have to wonder why. Do your really represent us or something else? Is it really too much to hope that we will ever have a real parliament for the people before our parliament and government become irrelevant?
I continue to be angry, frustrated and bitterly disappointed in all those parties and MPS supposed to represent us in the House of Commons who are instead blindly following a golden apple being dangled in their faces. We collectively threw out Harper’s government with many Canadians believing that things could not be worse than he promised they would be in 2006, and yet here you are fulfilling his destructive dreams and we are on the verge of complete submission to corporate greed.
Considering the actions of your government on these two issues alone I have to wonder why did we even bother with an election in 2015?
In complete disgust,
Interim Leader of the Canadian Action Party
PO Box 52008, RPO Beacon,