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LIES THE BANKERS TELL (put out by http://www.dsci.ca/)
THE LIE: Banks make free loans on credit cards.
THE TRUTH: There are no free loans - People who are told they
are getting a free loan are often paying more than 60% per annum
(a Criminal rate of interest). See "Merchant" Discount
Chart (LOOK IT UP ON THE 'NET)
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THE LIE: Loan Fees are not interest.
THE TRUTH: Every charge for the use of someone else's money is
interest. - See definition of interest in the Criminal Code.
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The LIE: Banks lend out depositor's money.
The TRUTH: Banks issue credit, they do not loan money and they
do not have the money to cover the credit they issue or the deposits
they have taken.
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The LIE: The annual interest rate (as stated in bank loan documents),
accurately represents the rate paid by the borrower.
The TRUTH: Banks state a Nominal Rate which is always less than
the true (effective) rate as it does not account for compounding,
which takes place every time a payment is made, or for fees which
are also interest.
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THE LIE: Globalization and Huge Bank Profits are good for all
Canadians.
THE TRUTH: Large corporations and speculators, particularly those
in the parasitic financial sector are the only ones that benefit.
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The LIE: A "Banking Ombudsman" who is paid by a bank
and can only make recommendations, is a realistic way for financial
consumers to solve problems with their banks.
The TRUTH: This type of ombudsman is a joke and nothing more
than an extension of the bank's collection staff. - see Canadian
Community Reinvestment Coalition (CCRC) Position Paper # 1. (LOOK
IT UP ON THE 'NET)
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THE LIE: Banks make financial service available to all Canadians.
The TRUTH: Access to banking and cheque cashing is denied to
a significant number of low income Canadians. - see Canadian Community
Reinvestment Coalition (CCRC) Position Paper # 2. (LOOK IT UP
ON THE 'NET)
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The LIE: Bank lending practices meet the needs of Canadian Small
Businesses.
The TRUTH: Canadian banks are not required to collect and disclose
the information needed to determine how effectively lenders are
meeting the needs of small business. The percentage of small businesses
reporting problems with access to capital in Canadian Federation
of Independent Business surveys doubled (from 20% to 40%) between
1990 and 1996. - see Canadian Community Reinvestment Coalition
(CCRC) Position Paper # 3.
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A BIG LIE: There is no need for a strong, well funded, Financial
Utility Board (Consumer Organization) in Canada.
THE TRUTH: See the lies above and the need is obvious. For how
to make it happen
ps: here is the website that you were supposed to look up:
http://www.cancrc.org/
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NEED MORE ANSWERS TO BANKING AND DEBT? GO TO OUR WEBSITE:
Visit our Web Site for a ten minute audio overview
www.dsci.ca
"Permit me to issue and control the money of a nation, and
I care not who makes its laws."
~ Amschel Mayer Rothschild - 1838
American poet Ezra Pound warned about the inevitable coming of
the american debt national travesty 70 years ago; by "Usura,"
Pound meant fiat currency issued by a private bank - "The
Fed" - in clear defiance of our Constitution, (Article I,
sections 8 and 10):
Canto XLV
by Ezra Pound
With usura hath no man a house of good stone
each block cut smooth and well fitting
that design might cover their face,
with usura
hath no man a painted paradise on his church wall
harpes et luthes
or where virgin receiveth message
and halo projects from incision,
with usura
seeth no man Gonzaga his heirs and his concubines
no picture is made to endure nor to live with
but it is made to sell and sell quickly
with usura, sin against nature,
is thy bread ever more of stale rags
is thy bread dry as paper,
with no mountain wheat, no strong flour
with usura the line grows thick
with usura is no clear demarcation
and no man can find site for his dwelling
Stone cutter is kept from his stone
weaver is kept from his loom
WITH USURA
wool comes not to market
sheep bringeth no grain with usura
Usura is a murrain, usura
blunteth the needle in the the maid's hand
and stoppeth the spinner's cunning. Pietro Lombardo
came not by usura
Duccio came not by usura
nor Pier della Francesca; Zuan Bellin' not by usura
nor was "La Callunia" painted.
Came not by usura Angelico; came not Ambrogio Praedis,
Came no church of cut stone signed: Adamo me fecit.
Not by usura St. Trophime
Not by usura St. Hilaire,
Usura rusteth the chisel
It rusteth the craft and the craftsman
It gnaweth the thread in the loom
None learneth to weave gold in her pattern;
Azure hath a canker by usura; cramoisi is unbroidered
Emerald findeth no Memling
Usura slayeth the child in the womb
It stayeth the young man's courting
It hath brought palsey to bed, lyeth
between the young bride and her bridegroom
CONTRA NATURAM
They have brought whores for Eleusis
Corpses are set to banquet
at behest of usura.
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