Yesterday our Finance Minister, Jim Flaherty presented a budget for Canada laying out a vision to put Canadians, “in a solid fiscal position in case we have another crisis.” He did tout his own horn and rightfully so as he has had to steer through a major global crisis like never seen before. In Canada we seem to have been immune to the backlash of the Sub-Prime mortgage debacle more so because of tight regulations which the bankers were eager to dissolve so they could become bigger and be able to compete with the other global institutions. I believe it was PM Paul Martin at the time who realized the consequences not only at the ballot box but the potential revolt by the citizenry who already thought they were big enough. I believe if deregulation occurred in Canada, this country could have fallen to third world status. Europe and America on the other hand with mature institutions; regulations were ignored as the officers looked the other way for their own personal gain. The infestation of fraud poisoned the financial systems the world is accustomed to. Since the collapse we have seen fires continued to be put out by governments throwing more money than they have, to simply buy time.  Problems the Academics and PhD’s can’t solve. Problems continue to be swept under the proverbial rug accomplishing nothing. The Power controls the whore media and the facts are ignored so that the real criminals can walk away from the disasters they are responsible for. The time is about to come where by the desolate within society will rise and revolt. The thievery and despicable act by the IMF and ECU, this week, to physically take funds from individual accounts was an error they will quickly regret. They messed with the wrong country, as the powerful Russians maintain $billions within Cyprus. This action could be deemed an act of war as the head of the IMF recently was made to understand.

 

Buy Gold and Silver!

Sincerely-Philip Magnoli, my friends call me Don Filippo-The FX Specialist- www.donfilippo.ca

 

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