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Federal Finance Minister Jim Flaherty dropped the n-word last week and taxpayers across Canada should be glad he did.
The forum was an International Monetary Fund (IMF) meeting in New York. Its members had just tried, for the second time in eight weeks, to hit up Canada for a loan of, well, let’s just say it was something in the order of a lazy $7 billion or so. True to his conservative financial instincts, Flaherty wasn’t having any of it. So he leaned forward and uttered a word now so rarely heard in global financial circles that many wondered if they’d heard him correctly the first time.
They had. He just said `no.’
Originally posted by xXxinfidelxXx
reply to post by Danbones
The Royal Canadian Mint runs off the Federal Reserve system as well, it's just under a different name. The same people that control the money supply of the States control ours too.
The Bank of Canada (French: Banque du Canada) is Canada's central bank and "lender of last resort". The Bank was created by an Act of Parliament (the Bank of Canada Act) on July 3, 1934 as a privately owned corporation. In 1938, the Bank became a Crown corporation belonging to the Government of Canada. The Minister of Finance (on behalf of Her Majesty in right of Canada) holds the entire share capital issued by the Bank. "Ultimately, the Bank is owned by the people of Canada."
The role of the Bank is to "promote the economic and financial well-being of Canada."
The responsibilities of the Bank are: monetary policy; sole issuer of Canadian banknotes and currency; the promotion of a safe, sound financial system within Canada; and funds management and central banking services "for the federal government, the Bank and other clients."
The Bank headquarters are located at the Bank of Canada Building in the nation's capital Ottawa.
Ottawa, Ontario - The Governor of the Bank of Canada today designated the Canadian Derivatives Clearing Service (CDCS) as subject to ongoing regulatory oversight by the Bank under the Payment Clearing and Settlement Act (PCSA), effective 30 April 2012.
Originally posted by Ericthenewbie
reply to post by Jocko Flocko
I hear ya 100 %...ever buy a book, magazine or even a birthday card... shows the drastic difference in price right there on it!
reply to post by tothetenthpower
there seems to be some information coming out that indicates there's an agenda behind the initial report and that it was incomplete;
Finance Minister Jim Flaherty's office said a report by the Canadian Centre for Policy Alternatives is "completely baseless" in its opinion that $114 billion in the form of loans, cash and mortgages was used to save banks. "To be clear, despite conspiracy theories to the contrary, there was no secret bailout," Flaherty's director of communications Chisholm Pothier said.
It also acknowledged its study was incomplete because it could not get access to Bank of Canada and Canada Mortgage and Housing Corp. documents.