The Quiet War on Canada by the Bankster Cabal – by Paul T. Hellyer (Former Canadian Minister of Defense)


The first step for Canada was so quiet and surreptitious we didn’t even realize a war had begun.  In 1974 the Bank of Canada unilaterally changed the system that had been in effect since 1939, and which had provided the government of Canada with very large amounts of money at near-zero cost.   This policy got us out of the Great Depression, helped finance World War II, the huge post-war infrastructure projects, and a social security system that was the envy of many countries.

    In 1974 the Bank of Canada abandoned its shareholders, and started taking its orders from the Bank for International Settlements in Basel, Switzerland, a bank controlled by the world’s most powerful banking families.  We had to start borrowing in the market and pay high interest rates. That policy, from fiscal year 1974/75 to fiscal 2010/11, cost Canadian taxpayers, $1.1 trillion dollars in unnecessary interest, and we are still paying!

(Pierre Trudeau (Left) was Prime Minister in 1974.)

The second invisible trap, was the Canada-U.S. Trade Agreement.  We agreed to a formula called the disputes settlement mechanism, under which if one of our provinces or the federal government passed a law that was good for us, but which impinged on the profits or potential profits of a U.S. company, Ottawa could be sued for damages.  For example, the province of Quebec put a moratorium on fracking for oil. Lone Pine Resources Inc. sued Ottawa for $250 million dollars. There have been multiple suits under NAFTA, which was the next round. 


That and our adherence to the World Trade Organization, resulted in the loss of nearly all of our great trans-national corporations.  We lost the protection of the Auto Pact, one of our best industries until production began to move to the U.S. and Mexico. The Canadian middle class continues to be decimated.  A combination of the bank monopoly on creating money, and trade agreements that make it difficult to compete with bigger countries, has resulted in more than one million Canadian young people being unemployed for 10 years, with no relief in sight. 



    The only solution to Canada’s perpetual recession-like economy, is a massive infusion of government-created debt-free money to dilute the ocean of debt, in which we are drowning.  A group of very concerned citizens designed a plan to do that. The Canadian parliament would direct the Bank of Canada to create $150 billion dollars a year for 7 years, to be spent 50% by the federal government, and 50% by the provinces and territories on a per capita basis.


    It would be necessary to re-instate cash reserves, and increase them from zero to 34%, over the 7-year period.  This would ensure that the government-created money would not be inflationary. Bank leverage would be reduced from 20 to 1, to 2 to 1, which means that the rich banking families would no longer be able to buy up assets for 5 cents on the dollar.  They would have to pay 50 cents. The details of this plan can be found at and is called “A Social Contract Between the Government and People of Canada.”  What does it mean for you as an individual?  It would mean an investment of about $29,000 for every man, woman and child in Canada – enough money to play catch-up in medical care, education, the arts, municipal infrastructure and in meeting the needs of our long-neglected aboriginal brothers and sisters.


    After 7 years, money creation would be split 34% for governments and 66% for the private banks.  That would make it possible for governments at all levels, federal, provincial and municipal, to balance their budgets at reasonable tax rates, and for the banks to provide legitimate services.