Fifth Edition

THE MONEY MAKERS/ It's all done in your name.

(from an article by David J. Weston printed in the Nanaimo Times). We would like to thank Mr. Weston for kindly allowing us to reprint his article.

Would you give someone your signed cheque book, with instructions that they should loan you your own money at the going interest rate? Well, you probably wouldn't, but someone is doing just that - and in your name! Who? Your Member of Parliament, that's who!.

This is how it works.

Parliament has the authority, on behalf of the Canadian taxpayer, to permit the creation of all of our nation's money supply. However, most of that money supply only comes into existence because our MP's allow private financial institutions to create it as debt money.

The process by which financial institutions create our money supply is simple, but little understood by the public, primarily because this process is neither taught in our schools, nor explained in the media.



Basically, Parliament needs to create money to cover the interest payments on the debt.

If a government takes in, in taxes, the same or more than it's expenditures on goods and services, then it is in operational balance or even in surplus. In actual fact, our Canadian government has been in operational balance for several years, and we, it's taxpayers, do not have an operational deficit problem.

So, what's all the fuss about the continuing deficit (the annual shortfall) and the burgeoning debt (the cumulative shortfall)?

In fact, the annual shortfalls and the subsequent accumulating debt exist because most of the nation's money is created by private financial institutions as interest ridden private debt, rather than being created by the nation itself as debt-free public money. In other words, if our national money was created and spent into circulation directly by Parliament itself, then our taxes could be greatly reduced. The island of Guernsey, which has created and spent it's money directly in the past, has reduced it's general tax burden by not going through the bankers.

Authorization begins when the Canadian government of the day gets Parliament to pass money bills in the House of Commons. In the form of treasury bills and bonds, these money bills generally cover: i) compounding interest on existing debt; ii) operational expenses, such as civil servants' salaries, supplies and rental of buildings, etc.; iii) capital outlays to pay for buildings, ships, bridges, highways, etc., plus new interest payments on those capital expenditures; iv) social services of various kinds; and v) transfer payments to the provinces. The banking, or collateral, for the creation of those treasury bills and bonds is the ability of the state to impose taxes on people and resources.

Parliament did once, in 1914, spend money directly into circulation for the stuff the government was buying. Apart from that, most of our national money has been, and is, borrowed from private institutions. Because of laws made in previous eras on the advice of bankers, Parliament currently is required to pass on the distribution of national money, via the Treasury Department, to the Bank of Canada. The Bank of Canada then asks private financial institutions, such as the banks, to 'loan' Parliament the equivalent amount of money. We, as taxpayers, end up paying interest to financial institutions for the money Parliament authorized.

Incredible as it may seem, these financial Institutions do not loan out money from their own vaults. Rather, using the risk-free collateral of Treasury Bills and Bonds as security, they actually create the money out of nothing, simply by issuing a 'line of credit'. Therefore, these financial institutions are not only charging interest on money loaned to the Canadian taxpayer, but are charging interest on money which they never had! Yes, our MP's allow it! But it need not be that way!



Further aggravating the problem is the fact that although those private financial institutions create the debt money which is repayable to them with interest, they do not create sufficient money to cover interest charges they demand. The interest payment money has to come from somewhere. The current method is for Parliament to borrow more debt money to pay the interest charges. The new debt money has interest charges attached to it for which no money has been created. This debt spiral is cumulative and can only be resolved by tackling the root cause - the creation of the nation's money supply as private debt money.

Why then, does our Parliament borrow the Canadian taxpayers' national money supply from financial institutions to get it into circulation, instead of spending it directly into circulation?



The reason is political, to do with the source of the laws governing the creation of money. In the past, as in the present, money and banking laws and rules were greatly influenced and bent by the financiers, not surprisingly to their benefit. In The Merchant Bankers, Joseph Wechsberg describes how the Baring Brothers (familiar name?) profitably funded both sides of the Napoleonic Wars. Gold bars were smuggled through French lines to the British. Yet those same Baring Brothers, with the agreement of the capitalist government of the day, smuggled for Portugal, 700,000 pounds Sterling to Britain's mortal enemy, Napoleon! As Wechsberg notes "..the ethics of a merchant banker were rather liberally interpreted in those days".



What has all this to do with Canada's current debt problem? In Canada the laws have been inordinately influenced by financiers to the disadvantage of the Canadian taxpayer. Those laws are still on the books, and why? - because no government in recent years has had the political will to change them. Why have they not had the political will? - because the beneficiaries of those laws, and the banks and financial institutions, have an armlock on the political parties which make these kinds of laws by funding any party likely to win. The accompanying chart is a random sampling of the official funding by financial institutions of the two old political parties in the last federal election. The unofficial funding figures will never be available!

What political party, living in constant fear of losing its election and public relations funding, will vote in favour of people-centred money and banking laws? All the political parties, including the NDP and Reform, are trapped. They cannot move. "He who pays the piper calls the tune".

It is overwhelmingly evident that before money and banking reform, we, as citizens, must press for political party financing reform.

Otherwise the present trend will continue toward the neo-feudalism of the rich getting more powerful, and the poor more powerless, and the middle class being marginalised, with disastrous consequences for all of us as debt peasants.



Bank of Montreal $94,358 $94,171
Bank Nat. du Canada $50,085 $50,000
Bank of Nova Scotia $76,825 $93,503
Can. Imp. Bank Comm. $86,626 $84,243
Coopers & Lybrand $107,861 $129,171
Midland Walwyn $100,414 $113,171
Nesbitt Thomson $102,385 $90,000
RBC Dom. Securities $99,017 $134,243
Richardson Greenshields $99,358 $156,815
Royal Bank of Can. $88,717 $84,171
Scotia McLeod $108,381 $187,387
Toronto Dom. Bank $77,648 $38,138
Wood Gundy $106,227 $150,929



"Let us issue and control the money of a nation and we care not who makes the laws"

The Illuminati, 1776

"Let us contrive wars, in the name of peace, and we can enslave the world through their financing and the creation of credit."

The Illuminati, 1778

"Let us administer and regulate the trade and exchange of the world through a central system and we will establish a self-regulating authority."

The Illuminati, 1778

"Let us establish banks in all nations similar to the charter of the Bank of England, in whatever form satisfies the gullibility of the people, and we will come to own the world arising out of its own default in bankruptcy."

The Illuminati, 1780

"All the perplexities, confusion, distress, strife, economic depressions, instabilities, inflation and devaluation experiences of the world arise, not from defects in Constitutions; not from want of honour or virtue in the common people; not from a desire to be selfish or see others suffer, but from downright ignorance of the nature of money, the nature of credit, and the nature of the private interest who control and manipulate them."

"Until the privileges and powers of private bankers are taken from them, and nations and their people recover that which has been appropriated by them, great fortunes, indentured servants, and exalted elite, demagogues and autocrats in government will remain."

Extracts from a speech given at Texas University, 1920, by Sir Joseah Stamp, Director of the Bank of England.




(Sponsored by Ad Hoc Student Group)

For a Nonviolent Bank Occupation MAY

Meet at Centennial Square

Monday May 1st 12:15 pm DAY

Civil Disobedience Training 1995

Sunday April 30th at Noon

Clearihue Bldg, rm C112 UVic MAY

Info Meeting & Discussion 1ST

Wednesday April 26th at 7:00 pm

Fisher Bldg, rm 100 Camosun College

It's time to make the banks pay their fair share!



Glen, founder of Canadian Institute for Political Integrity, will be in Victoria on Tuesday, April 18, 1995. He will be speaking at 7 pm at the Victoria Language Institute, 4680 Elk Lake Road. For those of you not familiar with Glen and his work, you may remember him better as the concerned Canadian citizen, who stood on Parliament Hill for 3 years while Mulroney was Prime Minister, speaking out about his corrupt government.



Our recent research has shown that the banks are now able to work with a zero reserve level. This means that a bank can take in a deposit of $1 and loan out whatever amount they desire. Previous reserves rates were 1 to 25 but since 1987, the banks have lobbied the governments to phase any reserves out and have reached zero level.

The Right Honourable Mr. Preston Manning,

House of Commons,

Ottawa, Ontario

February 27, 1995

Dear Sir:

I am writing you to express my grave concern over developments in our national debt. The current solutions paraded before us, cutting costs and raising taxes. will not solve the problem. At best, these solutions will possibly allow Canada to keep it's preferred bond rating for future borrowing.

I would like to propose another solution, not a new one but considerably less discussed. Our government must take back producing it's own debt-free currency instead of borrowing money from the chartered banks. Let me give a historical perspective and perhaps, clearly express this idea for you, with a quote from the Banking and Commerce Committee of Parliament in 1939 (page 394):

Question: "Will you tell me why a government, with the power to create money, should give that power away to a private monopoly, and then borrow back at interest that which Parliament can create for itself, to the point of bankruptcy?"

Answer from Mr. Graham Towers: "Now, if Parliament wants to change the form of operating the banking system, then certainly it is within the power of Parliament."

Interestingly, Mr. Towers did not dispute the legitimacy of the question but stated that Parliament has the power to create debt-free money.

The creation of our currency by chartered banks is the real reason for our spiralling national debt. Consider a report in 1994 by Owen Lippert of the Fraser Institute. His research found that over 91% of the national debt was interest charges. He added up all the revenue for Canada since confederation and then tabulated all the expenditures of the government in goods and services. Of the overall debt of $423 billion, only $37 billion was government shortfall but $386 billion was interest charges. These interest charges were created by refinancing the debt over the years and allowing the private banks to issue our currency and charging compound interest for that which should be the exclusive right of our government.

In 1993, chartered banks issued $21.3 billion of a total $22 billion. The tiny remainder was issued by the Bank of Canada. With compound interest, the $21.3 billion will double itself every 5 to 10 years, depending on the interest rates.

Why do we allow the banks to maintain this status quo, which has resulted in obscene profits for the chartered banks and a continually eroding standard of living to Canadian citizens? Cutting back on spending and raising taxes will have the same effect on debt reduction as putting out a major fire with a garden hose while the banks are spewing gasoline on it from behind.

Many noted historical figures, such as William Gladstone and Abraham Lincoln, understood that a nation loses it's democratic sovereignty through debt, if it doesn't control the issuance of it's own currency. The Reform Party has fostered the concept of expanded democracy with the tools of Referenda and Recall. Unless the Bank of Canada works for the Canadian citizens and not solely for bankers, then democracy can not be upheld in our country. Will you, as head of the Reform Party of Canada, take action to restore the Bank of Canada to it's rightful owners, or will you stand in line to hold the garden hose?



Lorenzo Bouchard,

Director, FAIR Foundation


The Mystical View of Democracy

The spiritual purpose of democracy is to stimulate and respect the views of all citizens in a nation and to create a climate for High Self activities in society.

The mystical purpose of life is to expand everyone's individual inner light till the principle of Ascension is attained throughout humankind.

Let's review the process of democracy in ancient Greece. We find that a great influence was projected on the population from the Mystery schools. These schools taught students from far and wide about the inner mysteries of the High Self with democracy as a political reflection of these teachings. When the temple of Apollo was destroyed by fire in 548 B.C., it's construction was financed by not only Greek cities but by King Creosus of Lydia and the Pharaoh Amasis who each sent vast sums of money. The schools were held in high esteem by areas far outside Greece.

The teachings of Delphi played an important role in political decisions, in the founding of new states, municipal constitutions and the conduct of war. It was the Pythia (the priestess of Apollo at Delphi) who selected, from the list of 100 names of traditional Attic heroes, the ten nominated as Progenitors of the ten Phylae tribes. One of those selected was Cleisthenes, founder of Athenian democracy. All nominees were initiates of the Mystery schools.

In 600 B.C., Lycurgus, a Spartan reformer, went to Delphi for approval of the legislation he initiated.

The Mystery schools taught the concept of the universal and the eternal Christos 600 years before the birth of Jesus the Christ. This concept was also taught in other societies under other regional names.

Angels, as depicted in the Judeo-Christian religions, were also found in various Mystery schools throughout Greece. A relief from the shrine of Eros and Aphrodite shows 5 angels, the Horologion of Andronikus has 8 winged beings, the Stoa of Zeus had winged beings above it and the statue of Victory (Nike) of Samothrace is an angelic being.

The Freedom Flame is a mystical impulse and democracy one aspect of the development of inner light in all individuals. We dedicate ourselves to this inner development in people regardless of race, sex, religion or nationality. All are one under universal laws.

We support the concept of greater accountability and involvement in government processes through direct democracy and the tools of initiatives, referenda, recall and impeachment.

We support the concept of debt-free currency creation and are opposed to the present system of creating currency through private banking monopolies. We are opposed to the debt slavery of individuals through usury.

We support the concept of an armed citizenry, modelled after the Swiss militia, where every individual who votes, trains to protect the rights inherent in democracy. In an imperfect world like ours, a country with an unarmed citizenry is much like a city with no police force.

A great role model who demonstrated the concept of an armed citizenry was Aeschylus, the Greek dramatist who was regarded as the founder of the Greek tragic drama and an initiate in the Mystery school. He had a great knowledge of human psychology and asked that on his epitaph his greatest achievement be placed "I FOUGHT AT MARATHON". His proudest moment had been defending Athenian democracy against Persian autocratic rule.

The mystical Freedom Flame does not work as a small segmentized aspect of society but as a principal of oneness with all creation.

Sons and Daughters of Freedom arise, arise, arise.

Excerpt from ANGEL'S ECHO

To your soul impulse and the central sun

Align yourself child of the one

With your spiritual heart and enlightened mind

We need your momentums for mankind

Through your glowing hearts and golden mind

This planet called Terra shall be realigned

By your ascension momentums felt close and far

Till she's cosmically known as the Freedom Star


Welcome home

Warriors of the light