I think the Toronto Star is sick of printing my letters :( “RE: Canada abandons its principles in automatic backing for U.S. World Bank candidate, Apr 2” - EDIT: They printed it. See above
Once again Harper’s government plays the wind-up toy for America’s diplomatic maneuverings. Again the Canadian people must demean themselves on the international stage, to serve the interests of private bankers instead of our own national needs and international obligations.
The World Bank and IMF are controlled by the rich countries (mostly America) and although they are ostensibly there to reduce poverty and increase opportunity in the underdeveloped world, their actual function has been to enrich private banking institutions and corporations through brutal, free-market economic policies. The head of the World Bank is almost always an American and the IMF almost always a European (currently a Frenchwoman, despite calls for greater representation from the South). Now with two excellent candidates from the third world, Obama wants to anoint his unqualified puppet.
Instead of propping up these undemocratic institutions meant to preserve elite rule, Canada should reclaim its independence. Why is our monetary and fiscal policy determined by unaccountable bankers in private institutions such as the Bank for International Settlements? I wonder if Canadians are aware of how much money we pay in interest to service our massive debt (over 13% of budget). We used to borrow from the Bank of Canada and pay ourselves the interest. Why don’t we do that anymore?
Don’t ask our lawmakers, ask the bankers. They’re the boss.
Mike Sampat
