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TO borrow or NOT TO borrow, is it BAD??

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10 months 2 weeks ago - 5 months 2 weeks ago #143206 by verynewtothis
verynewtothis created the topic: TO borrow or NOT TO borrow, is it BAD??

300 wrote: Canada’s membership pledge lends further credence to China-initiated AIIB
http://www.globaltimes.cn/content/1004800.shtml

More links:

https://theinternationalreporter.org/2016/09/06/canadas-membership-pledge-lends-further-credence-to-china-initiated-aiib/

https://theinternationalreporter.org/2016/09/07/another-earthquake-canada-to-join-chinas-asia-infrastructure/


:whistle: = ;)

http://worldfreemansociety.ca/forum/vntt-study-notes/114000-canada-capitalism-is-the-worst-possible-economic-system-that-could-have-attained-global-supremacy

Can We Do It Ourselves?

Ann Emmett explains the Bank of Canada

Part 1




Part 2


Ann Emmett explains the Bank of Canada part2

These are three links that I urge Canadians to check-out, 300:

http://worldfreemansociety.ca/forum/vntt-study-notes/114556-the-bank-of-canada-lawsuit-court-case?start=200

http://worldfreemansociety.ca/forum/vntt-study-notes/113842-who-actually-owns-the-bank-of-canada?start=30#140923

READ THIS Canadians.
THEN, DECIDE FOR YOURSELVES IF WE SHOULD USE IT!!

http://worldfreemansociety.ca/forum/vntt-study-notes/113842-who-actually-owns-the-bank-of-canada?start=30#140932

'... a government can choose to create the needed additional money instead of borrowing it from the banks,
the public, or foreigners
....


'But money creation is money creationwhether by a private bank or the Bank of Canada.
And a government in debt ONLY TO the government's OWN BANK
IS NOT really in debt at all
.

If it wants to go through the rigamarole of having the Treasury «borrow» from the central bank
and later pay interest, that is a minor matter of bookkeeping. As long as the central bank's profits are returned to the Treasury, the results are much the same as if the Treasury had created the money itself...

“Those who dismiss such a proposal as «inflationary» should be required to explain why it would be more inflationary for the government's bank to create (Exclusively ALL OF Canada`s money supply).


And

http://worldfreemansociety.ca/forum/vntt-study-notes/115033-postal-banking-public-banking-in-canada-a-great-idea?start=20

http://worldfreemansociety.ca/forum/vntt-study-notes/115589-using-the-boc-in-conjunction-with-postal-banking-and-pns


http://worldfreemansociety.ca/forum/vntt-study-notes/114608-why-us-states-cities-needs-public-banks-now

According to Article 1 [The Legislative Branch of the US Government], Section 8 [Scope of Legislative Power]: http://www.law.cornell.edu/constitution/articlei#section8 of the U.S. Constitution: http://www.law.cornell.edu/constitution/ . It states that:

The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;

To borrow money on the credit of the United States;

This is a quote from Thomas Jefferson on the ABOVE clause:

I wish it were possible to obtain a single AMENDMENT to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government; I mean an ADDITIONAL ARTICLE taking from the Federal Government the POWER of BORROWING.

I as well have a BIG problem with ANY TRUE GOVERNMENT ‘borrow[ing] money’…PERIOD!!


This is an excellent documentary on worker-owned coops:

Can We Do It Ourselves?

This is a solid, thought provoking documentary covering a relevant economic topic in-depth. The question of capitalism’s grip on the modern world is highly relevant today and the film questions if we should be pushing for a democratic cooperative way of doing business, showing case studies of businesses who are surviving as democracies within a capitalist system.


Rodney North

For those who would like to know more about Equal Exchange (we're the co-op that is featured starting around minute 7 of the film) please see www.EqualExchange.coop

Visit Professor Wolff's social movement project (which is an organization dedicated to overcoming the worst features of modern day capitalism by building a social movement of economic renewal through workers’ self-directed enterprises): www.democracyatwork.info


To learn more about the hundreds of other worker co-operatives in the US see www.USworker.coop

To learn more about resources for those who would like to start a worker co-op (or grow an existing one) see institute.usworker.coop/


;) = Prof R.D. Wolff & Prof Gar Alperovitz on "Workplace Democracy": http://worldfreemansociety.ca/forum/vntt-study-notes/114664-r-d-wolff-gar-alperovitz-workplace-democracy


What I personally recommend to other Nations on what to do to deal with this capitalistic financial system:
http://worldfreemansociety.ca/forum/vntt-study-notes/114647-what-nations-can-do-to-deal-with-this-capitalisti

NOTE - Just so there is NO CONFUSION:

My..THAT piece ABOVE: is predicated on the assertion TO STOP the PRIVATE banks...ONCE-AND-FOR-ALL, from CREATING THEIR DEBT BASED CHECK-BOOK CREDIT MONEY ...ELECTRONICALLY OR OTHERWISE AND STOPPING FRACTIONAL RESERVE BANKING ...PERIOD!!!!!!!!!!!!!


http://worldfreemansociety.ca/forum/49-banking/113482-the-u-s-and-other-failing-economies-take-note-iceland-may-hold-the-solution-to-financial-woes

http://worldfreemansociety.org/forum/vntt-study-notes/114490-why-iceland-should-be-in-the-news-but-is-not

http://worldfreemansociety.ca/forum/vntt-study-notes/113910-iceland-studies-monetary-reform?limitstart=0#133981

http://worldfreemansociety.ca/forum/49-banking/113427-iceland-jails-former-kaupthing-bank-bosses-12-december-2013

http://icelandmonitor.mbl.is/news/news/2015/06/26/kaupthing_executives_jailed/


http://worldfreemansociety.ca/forum/49-banking/115425-every-icelander-to-get-paid-in-bank-sale

Hungary is kicking out the BANKSTERS
www.silverdoctors.com/the-newest-country-to-defy-the-banksters/

I have this: http://worldfreemansociety.ca/forum/49-banking/111162-merkel-says-euro-members-must-be-prepared-to-cede-sovereignty-sure-like-that-is-going-to-happen-ya-right?start=30#123268 / http://worldfreemansociety.ca/forum/49-banking/111162-merkel-says-euro-members-must-be-prepared-to-cede-sovereignty-sure-like-that-is-going-to-happen-ya-right?start=50#124838 and this: http://worldfreemansociety.ca/forum/vntt-study-notes/114602-hungary-has-no-privately-owned-central-bank#134720 on the subject!!

... Hungary is STILL USING the the Fractional Reserve BANKING / LENDING System . A system that Puts nations (countries) and people(s) of said nations (countries) that use it into DEBT. I don`t really get the idea of how you can charge interest ON money THAT the PRIVATE banks have CREATED out of NOTHING...THIN AIR and INDEBT someone or a nation (country) ON money THAT the PRIVATE banks have CREATED OUT OF NOTHING...THIN AIR?? This action really confounds me! In my book that ACTION constitutes that one heck of a FRAUDULENT ACT has just taken place.


An as I previously stated:

Who here is SUPPOSED to have the EXCLUSIVE right to CREATE and ISSUE MONEY INTO A NATIONS ECONOMY ANYWAYS...a handful of PRIVATE banks or a GOVERNMENT of a Nation (through its central Bank) in which those PRIVATE banks are located in?


IMO, Greece is fudged if they DON`T GET THE HECK OUT OF THE EUROZONE
and if they STAY Paying THESE austerity measures!!

http://worldfreemansociety.ca/forum/vntt-study-notes/114918-greece-s-anti-bailout-syriza-party-wins-jan-25-2015-vote?start=40#140475

Here are 5 [ creative alternative ] ways Greece & the other Nations [ that are ALSO TRAPPED ] in the Eurozone can pay-off their DEBTS:
http://worldfreemansociety.ca/forum/vntt-study-notes/115597-here-are-5-ways-greece-the-other-nations-in-the-eurozone

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8 months 2 weeks ago - 5 months 2 weeks ago #143885 by verynewtothis
verynewtothis replied the topic: TO borrow or NOT TO borrow, is it BAD??
:whistle: = ;)

Mark my words, Trump will try to sell the American people on how good 'Trickle-Down Economics' (Reaganomics) IS for the 99%,
like a good capitalistic minded corporatist shill with Sound-Good DISinfomation.

He`s really a Conman (he really is for the 1%..the self appointed elites), by stating that he is going to cut your taxes...
But, for who is that act really for!?!

http://worldfreemansociety.ca/forum/vntt-study-notes/116057-reaganomics-trickle-down-economics-is-really-vile-and-evil-for-99-of-us

Trump’s Tax Plan: More Money For Trump
https://www.youtube.com/watch?v=ZjmEVv5Z09E

Donald Trump’s tax plan, explained:
http://www.vox.com/2015/9/28/9408923/donald-trump-tax-plan

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8 months 1 week ago - 5 months 2 weeks ago #143986 by verynewtothis
verynewtothis replied the topic: TO borrow or NOT TO borrow, is it BAD??
:whistle: = ;)

Times-up for (Globalising) capitalism...People are finally catching on to its Bullshit...The system is the real problem for [MOST] of us that live on planet earth...Capitalism is the real problem here:

This is quite the quote from maybe Henry Rollins given by Ron Placone of the Jimmy Dore Show:

Capitalism is great, as long as you tie it down to the point where its ring finger can move just a little bit...


I just want to say here that do to the nature of capitalism, the people that don`t like the regulations that were put into place to reign in capitalism will [eventually] find ways to get around them or obfuscate them: http://www.bing.com/search?q=obfuscate+definition&src=IE-SearchBox&FORM=IENTSR&pc=EUPP_ or just plain eliminate them altogether...So they can KEEP-ON exploiting and controlling others to get what they want.

And if a regulation that was put into place to reign in capitalism previously was either got around of or obfuscated: http://www.bing.com/search?q=obfuscate+definition&src=IE-SearchBox&FORM=IENTSR&pc=EUPP_ or just plain eliminated in the past...It just makes the work easier for the people that don`t like that regulation to do all that again but this time in a shorter time frame.

Economist Who Predicted Brexit & Trump Brilliantly Explains Capitalism's Collapse

Published on Nov 17, 2016

Mark Blyth, who accurately predicted Brexit and Trump explains in clear language how globalization and capitalism are failing people throughout the world
and why that means more Brexits and Trumps are on the way
.


Jimmy Dore breaks it down.



As I stated previously:

IMO, Greece is fudged if they DON`T GET THE HECK OUT OF THE EUROZONE
and if they STAY Paying THESE austerity measures!!

http://worldfreemansociety.ca/forum/vntt-study-notes/114918-greece-s-anti-bailout-syriza-party-wins-jan-25-2015-vote?start=40#140475

Here are 5 [ creative alternative ] ways Greece & the other Nations [ that are ALSO TRAPPED ] in the Eurozone can pay-off their DEBTS:
http://worldfreemansociety.ca/forum/vntt-study-notes/115597-here-are-5-ways-greece-the-other-nations-in-the-eurozone


http://worldfreemansociety.ca/forum/vntt-study-notes/114626-there-be-pushers-of-globalizing-of-capitalism-here

http://worldfreemansociety.ca/forum/vntt-study-notes/116227-professor-r-d-wolff-global-capitalism-a-looming-economic-crisis

http://worldfreemansociety.ca/forum/vntt-study-notes/116266-is-capitalism-broken-professor-richard-d-wolff

This shows how Americans can deal with this capitalistic system:
http://worldfreemansociety.ca/forum/vntt-study-notes/116183-richard-d-wolff-lecture-on-worker-coops
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8 months 5 days ago - 5 months 2 weeks ago #143999 by verynewtothis
verynewtothis replied the topic: TO borrow or NOT TO borrow, is it BAD??
:whistle: = ;)

Whenever I think about the bullshit financial system that we Canadians and most of the world are
unnecessarily: http://www.merriam-webster.com/dictionary/unnecessarily under...trapped in, these three quotes come to mind:

The FIRST QUOTE is from Mayer Amschel Rothschild:

"Give me control of a nation's money and I care not who makes the laws."


The SECOND QUOTE is from The Right Honourable William Lyon Mackenzie King...
He said this in a radio address, on August 2, 1935, while campaigning to become Prime Minister of Canada:

http://www.monetaryandeconomicreform.ca/Dialogue/dialking.htm

"Once a nation parts with control of its currency and credit, it matters not who makes that nation's laws.
Usury, once in control, will wreck any nation.

Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile."


The THIRD QUOTE is from Upton Sinclair:

It is difficult to get a man to understand something, when his salary depends on his not understanding it.”


This is my simple FOUR WORD response to the THIRD QUOTE directly ABOVE:

But, IT`S NOT impossible!!
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6 months 1 week ago - 5 months 2 weeks ago #144606 by verynewtothis
verynewtothis replied the topic: TO borrow or NOT TO borrow, is it BAD??
:whistle: =

Interesting...Now where did I hear that kind-of thinking before...hmm!?! ;)

On Contact Capitalism in Crisis with Richard Wolff

Published on Jan 12, 2017

This is a LINK-TO the different shows from: RT`s 'On Contact' with host Chris Hedges

https://www.rt.com/shows/on-contact/

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5 months 3 weeks ago - 5 months 2 weeks ago #144706 by verynewtothis
verynewtothis replied the topic: TO borrow or NOT TO borrow, is it BAD??
Their is NO need ANYMORE for me to EXPLAIN WHY I AGREE WITH BREXIT...Please listen and SUBSTITUTE
Greece with Britain and YOU WILL SEE WHY:

;)

TO borrow or NOT TO borrow, is it BAD??

I said it BEFORE: I have a BIG problem with ANY TRUE GOVERNMENT ‘borrow[ing] money’…PERIOD!!

So basically my (verynewtothis) ANSWER to that QUESTION is in ONE WORD...YES!!!!!!!!!!!!!!!!!!!!!!



EconoMinute: The Greek Crisis
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3 months 1 week ago - 3 months 1 week ago #144887 by verynewtothis
verynewtothis replied the topic: TO borrow or NOT TO borrow, is it BAD??
Hey, capitalistic minded Nazi elites this is for you...I guess theirs no need for me to say something here, this video pretty much says it all for me, but I WILL SAY ONE THING THOUGH...GET USE TO SEEING MORE OF THIS IN THE FUTURE:

Greece Riots. Grexit is here 2017! Prepare for World Economic Collapse and
Crisis in Markets


Published on Mar 9, 2017

Greek farmers riot march 2017.

Grexit 2017 will happen with or without the elite the citizens are rising up.

the banks are collapsing GOOD!!!!!!!!!!!!!!!!

bank runs have taken place violence in the streets as rioters attack police


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3 months 3 days ago - 3 months 2 days ago #144922 by verynewtothis
verynewtothis replied the topic: TO borrow or NOT TO borrow, is it BAD??
:) + ;) = :whistle:

I AGREE [IN LARGE PART] WITH Prime Minister Justin Trudeau`s APPROACH!!
For the NEW people here: NONE OF MY POSTS HERE WILL BE SHORT!!!!!!!!!!!!!!!!!!!!!!!!!!

This is from London, Ontario, Canada at UWO's Alumni Hall. January 13, 2017.


Trudeau Gets His Ass Handed To Him By UWO Student!!!

This is a partial EXCERPT from this link:
http://worldfreemansociety.ca/forum/vntt-study-notes/116492-pull-canada-out-of-the-tpp

verynewtothis wrote: ...

http://www.tradingeconomics.com/canada/gdp

The Gross Domestic Product (GDP) in Canada was worth 1550.54 billion US dollars in 2015.

The gross domestic product (GDP) measures of national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. This page provides - Canada GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.


AND

http://www.cfib-fcei.ca/english/article/6066-debt-clock.html

THIS DEBT CLOCK PROVIDES AN UP-TO-THE-SECOND ESTIMATE OF COMBINED
FEDERAL AND PROVINCIAL NET DEBT: (
Scroll DOWN http://www.fin.gc.ca/afr-rfa/2014/report-rapport-eng.asp ), AND HOW IT IS DISTRIBUTED PER PERSON. FIGURES ARE BASED ON MOST RECENT BUDGET PROJECTIONS AND POPULATION DATA COMPILED BY
the 'Canadian Federation of Independent Business' (CFIB).


Federal (Canada): .........$718,038,426,334.47
Provincial / Territorial: $633,604,038,975.38
Total: ..........................$1,351,642,465,309.85


Try NOT TO forget ... that what applies to America DOESN`T necessarily automatically apply to Canada!!


This is from Infrastructure Canada:
http://www.infrastructure.gc.ca/plan/cwwf-fepeu-eng.html

Green Infrastructure:
www.infrastructure.gc.ca/plan/gi-iv-eng.html

Social Infrastructure:
www.infrastructure.gc.ca/plan/si-is-eng.html

Public Transit Infrastructure:
www.infrastructure.gc.ca/plan/pti-itc-eng.html

Trade and Transportation:
http://www.budget.gc.ca/fes-eea/2016/docs/themes/infrastructure-en.html

Rural and Northern Communities:
http://www.budget.gc.ca/fes-eea/2016/docs/themes/infrastructure-en.html


Clean Water and Wastewater Fund
http://www.infrastructure.gc.ca/plan/cwwf/cwwf-program-programme-eng.html

► Purpose
► Program Overview
► Cost-Sharing, Stacking and Limits to Federal Participation
► Requests for Extensions under CWWF
► Annex A – Overview of Eligible CWWF Investments
► Annex B – Eligible Recipients
► Annex C – Eligible and Ineligible Costs


Since I`m from the Canadian Town of Cowansville in the Canadian Province of Quebec,
the NEXT TWO LINKS VERY MUCH interest me:

Phase 1: Infrastructure Projects in Quebec
http://www.infrastructure.gc.ca/pt-sp/projects-list-liste-projets-qc-eng.html

Backgrounder: Canada and Quebec fund 19 projects to improve water and wastewater systems across Montérégie
http://news.gc.ca/web/article-en.do?nid=1181619&tp=930

In MY NEXT TWO TO THREE POSTS,
I WILL SHOW HOW Prime Minister Justin Trudeau CAN GO ABOUT FUNDING ALL OF THIS:
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3 months 2 days ago - 3 months 2 days ago #144924 by verynewtothis
verynewtothis replied the topic: TO borrow or NOT TO borrow, is it BAD??
This way COMBINED WITH the other ways that I propose here will show HOW Canada CAN GO ABOUT FUNDING those endeavours and these proposals are very viable...At least, To ME they are!!

Way #1 or proposal #1:

Use SOME of the revenue from taxes (Federal / Provincial / Territorial) received to HELP Canada Fund those endeavours:

YAAAAAAAAAAAAAAAY = ;) = Marijuana to be legal by Canada Day 2018

Published on Mar 27, 2017

Liberal government will announce legislation next month that will legalize marijuana in Canada by July 1, 2018

To read more:

http://www.cbc.ca/news/politics/liberal-legal-marijuana-pot-1.4041902




Canadian government announces details on legalized pot legislation

Published on Apr 13, 2017

Federal government ministers discussed the details around legislation to legalize marijuana in Canada by 2018.

For more info, please go to:

http://globalnews.ca/news/3373919/pot-legalization-seven-questions-that-still-need-to-be-answered/


This concerns this issue, but For Me it is bit OFF-TOPIC:

For Me this video from this thread: http://worldfreemansociety.ca/forum/43-general-discussion/116483-canada-officially-legalize-marijuana-nationwide#144890 is purely To Me meant to be just more ANTI-legalisation of marijuana...Its Just More American Style fear mongering Crap...Meant to confuse Canadians.

In that video it says that since the FEDERAL GOVERNMENT is the one LEGALIZING marijuana in Canada and since it is them who are setting the LEGAL AGE (AT A minimum age of 18 Years Old) that THAT WILL ALLOW THE POLICE TO ENTER YOUR HOME.

I just want-to point this out: By the Provinces simply ACCEPTING to let the FEDERAL GOVERNMENT set the LEGAL AGE at 18 Years Old or By the Provinces setting their own LEGAL AGE...It doesn`t really matter the Province at that point just legalized marijuana themselves and set a LEGAL AGE...So, therefor to STOP this from happening ALL YOU REALLY NEED TO DO IS HAVE A PERSON OF LEGAL AGE TALK TO THE POLICE AT YOUR DOOR AND CLAIM THAT THE SMELL IS FROM HIS OR HERS USE OF THE LEGAL PRODUCT...This concerns me more:

http://globalnews.ca/news/3157924/why-a-56-year-old-un-treaty-stands-between-you-and-legal-pot/

Over the years, Canada has signed several international drug control treaties, which commit us and dozens of other countries to banning a long list of drugs, including marijuana:
the 1961 Single Convention on Narcotic Drugs: https://www.unodc.org/pdf/convention_1961_en.pdf ,
the 1971 Convention on Psychotropic Substances: https://www.unodc.org/pdf/convention_1971_en.pdf , and
the 1988 Convention Against IllicitTraffic in Narcotic Drugs and Psychotropic Substances: https://www.unodc.org/pdf/convention_1988_en.pdf .

The treaties, and the government’s cannabis legalization project, are on a collision course.

How to solve the problem?

There are four options, some more workable than others:

Please GO-TO THIS LINK BELOW to see (read) those four options...THANKS!!

http://globalnews.ca/news/3157924/why-a-56-year-old-un-treaty-stands-between-you-and-legal-pot/

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3 months 1 day ago - 3 months 1 day ago #144928 by verynewtothis
verynewtothis replied the topic: TO borrow or NOT TO borrow, is it BAD??
This way/proposal IS NOT SO MUCH PREDICATED (BASED) ON HOW CANADA CAN GENERATE INCOME TO BE ABLE TO FUND THOSE ENDEAVOURS AS MUCH AS BEING A WAY CANADA CAN SAVE TO HELP TO PAY FOR THOSE ENDEAVOURS:

I just use this video to show that Canada`s Prime Minister is ALREADY locked-in RE-negotiations of NAFTA with the US President:

Justin Trudeau responds to Donald Trump's claims about
Canadian harm to US dairy producers


Speaking to Bloomberg during an interview on April 20, 2017, Canadian Prime Minister Justin Trudeau gives his take on President Trump's concerns regarding Canada-United States trade in dairy products.



Way #2 or proposal #2:

By Eliminate Chapter 11, http://tcc.export.gov/%5C%5C/Trade_Agreements/All_Trade_Agreements/NAFTA_Part5_Chapter11.asp the investor-state dispute settlement (ISDS) process all together.

Federal Canadian Taxpayers and Provincial Taxpayers and just MOST of the people on the Canadian streets who purchase taxable items are paying millions if not billions of dollars in taxes for basically nothing.

So, For Me and for The Council of Canadians: canadians.org/trade it just makes sense to Eliminate Chapter 11, http://tcc.export.gov/%5C%5C/Trade_Agreements/All_Trade_Agreements/NAFTA_Part5_Chapter11.asp the investor-state dispute settlement (ISDS) process all together.

Check-out this:

Canada biggest target in NAFTA claims
http://nupge.ca/content/12046/canada-biggest-target-nafta-claims

Lawsuits against Canada under NAFTA's Chapter 11: http://tcc.export.gov/%5C%5C/Trade_Agreements/All_Trade_Agreements/NAFTA_Part5_Chapter11.asp , investor-state disputes, are making Canada, according to the United Nations Conference on Trade and Development, the most "sued country in the developed world." — Canadian Centre for Policy Alternatives

Of the 77 known NAFTA investor-state dispute settlement (ISDS) claims up to January 1 2015 35 have been against Canada: http://www.thestar.com/news/canada/2015/01/13/canada_being_sued_for_billions_under_nafta_investor_protections.html while 20 have targeted the U.S., and 22 have been against Mexico.

Hundreds of millions of dollars in penalties and legal fees

Canada has paid out NAFTA damages totaling over C$172 million, while Mexico has paid damages of US$204 million. The U.S. has yet to lose a NAFTA Chapter 11 case. Hmm...I wonder why that is!?! :evil:

All three governments have incurred tens of millions of dollars in legal costs to defend themselves against investor claims.


Canada most "sued developed country in the world"
https://www.policyalternatives.ca/newsroom/news-releases/nafta-investor-state-claims-against-canada-are-out-control-study

The study notes that "Canada has been sued more times and faces more active claims than any other NAFTA party. Indeed, according to the latest figures on ISDS claims from the United Nations Conference on Trade and Development (UNCTAD) Canada is now the most sued developed country in the world. This dubious distinction is entirely due to lawsuits under NAFTA chapter 11."

Since 2005, Canada has been the target of over 70 per cent of all NAFTA claims. Currently, Canada faces nine active claims challenging a wide range of government measures that allegedly interfere with the expected profitability of foreign investments. Foreign investors are seeking over $6 billion in damages from the Canadian government.

These claims include challenges to a ban on fracking by the Quebec provincial government and a decision by a Canadian federal court to invalidate a pharmaceutical patent on the basis that it was not sufficiently innovative or useful.


And This:

MORE ON THIS EVIL:

Corporate rights protections: A primer on investor-state dispute settlement
By Jim Stanford| March 19, 2015
http://rabble.ca/columnists/2015/03/corporate-rights-protections-primer-on-investor-state-dispute-settlement

In light of the latest NAFTA's Chapter 11: http://tcc.export.gov/%5C%5C/Trade_Agreements/All_Trade_Agreements/NAFTA_Part5_Chapter11.asp decision to go against Canada, I was asked to put together some background notes for our Unifor leadership on this bizarre quasi-judicial kangaroo court system. Here they are, in case they are useful for anyone else getting up to speed on the whole investor-state dispute system.

Some very good and more detailed resources on the subject include:

The latest update from Scott Sinclair at the Canadian Centre for Policy Alternatives (CCPA): http://www.policyalternatives.ca/sites/default/files/uploads/publications/National%20Office/2015/01/NAFTA_Chapter11_Investor_State_Disputes_2015.pdf , who has painstakingly catalogued all the NAFTA Chapter 11 claims, and documented that Canada definitely hold the "most sued" award. An interesting report from the United Nations Conference on Trade and Development (UNCTAD): http://unctad.org/en/publicationslibrary/webdiaepcb2014d3_en.pdf (referenced below) which highlights the worldwide nature of the Investor-State Dispute Settlement (ISDS) provisions, the accelerating pace of claims launched, and the frequency of successful claims.

Here are the briefing notes:

■ Investor-state dispute settlement (ISDS) is a quasi-judicial arbitration system whereby companies can sue national governments for perceived violations of various free-trade and investor freedom commitments.

■ The most infamous example of this system have been experienced under NAFTA, which was one of the first trade deals to spell out these special powers (in its Chapter 11).

■ In the first two decades of NAFTA, 77 claims were launched under Chapter 11's ISDS system (as reported by the CCPA report cited above). Thirty-five of them were against Canada (more than any other country). Of those, at least nine have been settled (either through arbitration or through out-of-court agreements) against Canada, with total monetary damages now approaching $200 million.

■ Claims against Canada under Chapter 11 have been accelerating: 24 of the claims against Canada have been launched in the last decade (since 2005), representing 70 per cent of all Chapter 11 claims. Within NAFTA's kangaroo court system, it is clear that Canada is the favoured "target."

The most recent Chapter 11 judgment awards $17 million to ExxonMobil and Murphy Oil: http://www.thestar.com/news/canada/2015/03/13/oil-giants-win-17m-from-ottawa-under-nafta.html in compensation for a provision of the 1985 Atlantic Accord energy agreement, which requires oil-producing companies to conduct minimal R&D in Newfoundland as a condition of their production license. Note that the Atlantic Accord pre-dates NAFTA. Also, the companies had sued Newfoundland in Canadian court to protest the requirement … and lost. So Chapter 11 provided an alternate (and more business-friendly) way to press their same claims.

■ Past Chapter 11 judgments or out-of-court settlements against Canada include: $130 million awarded to Abitibi-Bowater for Newfoundland's expropriation of land and water rights from a pulp mill that the company closed in 2008 (the affected workers were members of the CEP, now part of Unifor); an out-of-court settlement with Ethyl Corp. over a Canadian ban on import and sale of MMT, a chemical additive in gasoline; and a suit by Dow regarding Quebec government claims regarding the safety of the pesticide 2,4-D.

■ The actions currently being pursued against Canada include a total of $6 billion in additional claims, for a range of measures: including Quebec's ban on natural gas fracking; several aspects of Ontario's Green Energy Act; Canada's support for building a second bridge crossing at Windsor-Detroit; and the federal government's invalidation of a drug patent for a product that was clinically shown to be not useful.

■ ISDS provisions are now included in many other free trade and international investment agreements. So while NAFTA unfortunately helped to pioneer the process, unfortunately it is no longer unique.

■ One especially dangerous ISDS provision is contained in the recently implemented Canada-China FIPA (Foreign Investment Protection Agreement): http://worldfreemansociety.ca/forum/vntt-study-notes/114621-another-so-called-free-trade-deal-fipa . It provides Chinese companies with access to a quasi-judicial ISDS provision for a minimum of 31 years (even if a subsequent Canadian government reneges on the treaty).

■ Globally, over 530 ISDS claims were launched between 2000 and 2013, according to the United Nations Conference on Trade and Development. The rate of ISDS claims has accelerated (averaging over 50 per year since 2011). Globally, most ISDS claims result in awards or out-of-court settlements against the "offending" governments.

■ Proposals to include ISDS in the proposed Canada-Europe - the Comprehensive Economic and Trade Agreement (CETA): http://worldfreemansociety.ca/forum/vntt-study-notes/112908-free-trade-nafta-spp-nau-fippa-tpp-and-some-of-the-can-conmen-that-helped-to-erode-canada-s-soverei?start=10#134988 have been highly controversial, especially in Europe. Millions of Europeans have signed petitions against any ISDS provision in CETA (or in the similar agreement being negotiated with the U.S.), and several EU-member governments have now said they will not endorse a CETA that includes ISDS. But Canada's government remain determined to include this anti-democratic feature in the agreement.

■ ISDS raised enormous questions of democracy, accountability, and rule of law. The idea was supposedly justified originally by foreign investor concerns that their assets would be jeopardized by unilateral action from undemocratic "third world" governments. But the repeated use of ISDS against Canada and other countries with mature, reliable legal systems confirms that is not the motive. ISDS provides corporations with an undemocratic appointed business-friendly forum in which to press their claims against any government action seen as unfavourable to profits.

■ The regular use of ISDS has an additional "chill" effect on government policy-making, that extends beyond the actual judgments that have been awarded. Governments are now even more reluctant to take any measures opposed by business, for fear of being called before this "kangaroo court" system.

■ An additional complication in Canada arises from the fact that many ISDS actions have been launched against provincial governments, which cannot be constitutionally liable for provisions of an international trade treaty. Thus there is some legal and fiscal uncertainty about who would have to pay ISDS judgments against provincial governments. The Harper government has paid for some past judgements that went against provincial governments (most notably the big Abitibi-Price award), but wants to make it clear the provinces will be on the hook for future judgments (including under CETA). The provinces are resisting, and with good reason.


Jim Stanford is an economist with Unifor Canada.

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