STAFF NEWS & ANALYSIS
Did Canada Sell Its Gold to Prepare for the North American Union?
By Daily Bell Staff - August 17, 2016

Loonie closes at highest level in more than a month; stock markets pull back  … The Canadian dollar continued to ride higher with oil prices Tuesday, as both the currency and a barrel of crude climbed in value for a fourth straight day.  The loonie added 0.38 of a cent to 77.80 cents U.S., closing at its highest level in more than a month amid a weakening U.S. dollar.

It’s never been clear why Canada sold ALL its gold, HERE, but perhaps it has to do with the potential, upcoming North American Union.

Just the other day, we wrote that Hillary’s plans are obviously to support the creation of the NAU. You can see the article HERE, entitled, “Hillary Plans Steps Toward North American Union If Elected.”

We’ve been writing about the resurgence of the NAU for years – and then more recently for months as regards this campaign. Gradually,  the alternative media is becoming more aware of how high the stakes really are. Some of our articles are HERE, HERE, HERE and HERE.

It is not too strong to say that the future of the United States as a sovereign entity may be decided by this election. The NAU is threnody – the deep dirge – harmonizing many of the arguments over “immigration.” One big explosion came when George Bush suggested turning immigrants, legal or not, into eventual citizens, HERE.

Bush, who further wrecked America in many ways, disingenuously claimed that his stance was motivated by his “compassionate conservatism.” But it was not. Bush secretly advanced the legislative agenda of the NAU through a series of hush-hush meetings with his counterparts in Mexico and Canada.

Obama has not perhaps been so overt as Bush, though recently, he did  see his counterparts in Canada in a meeting that was obviously intended to raise the concept of an NAU once more.

Meanwhile, the lack of gold-backing for the loonie, seems to create the circumstances that benefit the idea of an NAU as well. Its emphatic removal of gold (and recent sales of gold merely expanded a long-term trend) has surely increased its volatility and overall weakness, HERE.

Canada once had 1,000 tons of gold, but selling started in the 20th century and continued throughout the 2000s. It finished with a flourish in early 2016, when Canada had nothing left.

However, there is no reason why Canada couldn’t back the loonie with substantial gold if it wished to. Canada is a huge country with significant gold and silver resources. But instead, the loonie’s fate increasingly seems tied to oil, which doesn’t make much sense on a variety of levels.

The loonie lately has been around or below 78 cents US and only received reinforcement from a September crude contract that pushed a barrel of oil to US$46.58. The hope now is that Russia will help Saudi Arabia stabilize oil. However this doesn’t acknowledge that the US itself is trying to destabilize Saudi Arabia in order to debase the dollar further, HERE.

The Chinese yuan is scheduled to join the IMF’s SDR basket in October. Additionally, the World Bank is starting to issue yuan (RMB) bonds. The results, eventually, will hit the dollar hard.

The dollar has likely been targeted in order to strengthen potential global governance – just as the BRICs have risen up to challenge the West.

The world needs to be “evened out” to make globalism work, you see. And currencies need to be destabilized in order to create the justification to combine them. No doubt, the NAU’s backers are considering a single currency, much like the disastrous euro.

If Canadian, Mexican and US currencies are seen as weakened and even chaotic, especially due to a lack of even a residue of gold, creating some sort of mutual currency doubtless becomes easier to implement – even if it is simply a more comprehensive dollar.

Of course, the dollar is merely the “strongest” currently of a variety of weak currencies. Mexico’s peso, too, is not strong.

Not so long ago, Mexican officials actually admitted, HERE, that some 96 percent of Mexican gold resided mostly in London’s City (no surprise there) – where it no doubt has been lent out a thousand times.

Will Mexico ever see that gold again? For now, the peso, like the loonie, seems to lack gold backing.

Of course, as the Fed and the US government do not want any full-scale audit of Fort Knox, it is not clear what kind of gold-backing the dollar possesses. Probably less than more.

All-in-all, these gold-deprived currencies probably support the creation of what we call “directed history.” This elite approach manipulates events until they resolve themselves into a requisite, logical pattern.

For instance, Canada, Mexico and the US all have varying degrees of public – “universal” – health care. Though people will disagree, it seems obvious that Obamacare mess is intended to justify an even more fully public system.

Meanwhile, Mexico converted to universal health care beginning in 2004 and ending in 2012, HERE, with astonishingly little fanfare.  Very strange.

On a variety of fronts, the sociopolitical and economic policies of the US, Canada and Mexico are being harmonized.

If Hillary gets into office, this extensive harmonization will allow swift action to realize a potential union. Probably numerous quasi-secret treaties and executive orders will help facilitate it.

One of Hillary’s main goals is to open up a new government agency that will support the citizenship of illegal aliens.

But that is probably only the first step.

News With Views posted a far more a comprehensive report on where her regime might head.

The article HERE is entitled “Get Ready for FEMA Regions For the North American Union” and contends that the ultimate plan is to “do with away with the 50 states and create FEMA regions.”

The report quotes Parag Khanna, a contributor for the NYTimes, who believes the US would “thrive more if the government did away with the states and created regions.” You can see his article HERE.

Conclusion: While many people are terribly concerned about a Hillary presidency, the true ramifications may be even deeper and longer lasting than regularly discussed. The fate of America itself may hang in the balance.

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  • Sven

    Of course now the elites can actually use the NAU as a smokescreen for the collapse of the dollar.

    Instead of a “collapse”, there will be a reformation. It will be sold as an NAU that will outshine the EU. It will of course be sold as some utopian version of the EU and they will circumvent the illegal alien problem with “open borders” similar to the EU.

    Illegals will suddenly become legal with a treaty that will give them “supranational” traveling and working papers. Something like that.

    Edit: And we may find Trump subscribing to this plan when someone lays down the reality of the future of the dollar.

  • 69 GTO

    The crown holds more crown land with gold in Canada than probably the rest of the world combined. Just have to mine it someday.

  • yep

    don’t worry, the world will be in a nuke ww3, caused by the USA, and all your gold problems will be solve then, period

  • Steve

    I don’t know why our government sold its gold. How can the average person know when everything is a big secret kept from citizens? But i will say this to our American friends, we are your best friends, not Israel, indeed, we are just about the only friends you have left in the world. And we like the idea of the longest undefended border in the world, and all that, but we don’t want a North American union anymore than you do. Separate countries only please, and thank you. Only the assorted elitist money junkies want the North American union.

    • disqussted999

      The problem is who we’re talking about with the words “we” and “you.” There’s “WeThePeople” of our countries–we generally get along fine, we and you. We generally have the same priorities, pressures, and problems and can more or less relate to each other. But we’re the peons, and we don’t make the rules anymore, nor for the most part determine much of anything that happens outside of our tiny little spheres of influence. although we continue to try.

      Then there’s “WeThe(AboveTheLaw)Overlords” of our countries, and they are no longer elected nor for the most part subject to being fired by WeThePeople–they like war and crisis and secrets and executive memos, and anything else that increases their bank accounts and their power. And then they like to sell WeThePeople some completely made up bunch of lies, spin, and obfuscation about what happened, what they did, after the fact.

      So not only do our opinions not matter to them, we often probably don’t even know what exactly it is we’re dealing with or why, let alone how to fix it. Nor am I of the opinion that our votes are going to count much for anything in the future. We can hope it all “falls apart,” but I’m afraid that wouldn’t be too pretty either.

  • Nathan

    Given the failing state of the Eurozone, I think a NAU is a hard sell at best.
    The world is over dollarized and over indebted. The present currency system will
    need to be overhauled with the role of the US and a sovereign based reserve currency changed.

    How long the current “sovereign” (USD, EUR, JPY, etc.) debt based financing system can hold out is questionable.

    The SDR (a fiat basket) may be a bridge but until gold is returned to the monetary system the system will remain unstable and lack legitimacy.

    A possible solution to the world’s woes is a breakdown in the gold price suppression scheme and a coordinated “global repricing of gold”.

    The IMF and or BIS would ultimately take a lead role as the US dollar or any other sovereign money become untenable as a reserve current. That is happening albeit slowly.

    At 10K per once (for example) the general public could no longer afford to buy any gold and Central Banks would be recapitalized and it would reset global exchange rates overnight.

    It’s really just money printing and further wealth re-distribution by a different means. A collapse of the gold suppression system will occur and I suspect the overall outcome will be the global repricing of gold. PIMCO recently proposed this, as have others. It’s certainly an area keep an eye on.

    • P.Helge

      The PIMCO article you mention is linked below. If the Chinese and Indians who hold the largest amount of physical gold on the planet suddenly became
      wealthy-they would rapidly become the biggest consumers on earth of foreign goods, BMW”s Apple computers, (for a short while anyway) or, perpetuating the consumer culture/kicking the can down the road a bit longer.

      https://www.pimco.com/insights/viewpoints/viewpoints/rumpelstiltskin-at-the-fed

      • Olvernund

        That is a very interesting point. That it might be used to stimulate consumption by the region which consumes less per capita on this earth yet own a large portion of the world’s known gold.

        • CHLee

          Yes, and as important allow for a way that sovereign nations can inflate their massive debt away.

      • Sven

        Wealthy? 300 million Chinese and Indians (low ball figure?) buying 1 GRAM a month is about 9.6 million ounces a month.

    • Lorenz

      Interesting idea it seems. Gold might then become the ultimate asset bubble.
      Those who own the element would sell to the banks in exchange for spendable money, whatever that is, and the upper 10% who are able to buy into the equity markets would buy the gold ETF’s which are then inflated
      upwards such that they too have spendable money. The rest of the people would likely suffer as the nation currencies you mention inflate their debts away. The tax base on the gold ETF’s would allow the governments to still function. Write a book, you’re idea is very possible. I think we must wait and see how the Geopolitics with China and Russia/India begin to play out. They
      have been pushing for the IMF to have a greater role than the FED for some time now.

    • ManakoH

      For such a thing as you described to occur, the US which is the reserve currency will have to be called into question for it’s ability to lead.

      Watching the election, it seems much of the world is not happy with either candidate, it is like a bad soap opera, scandals everywhere.

      It would seem that the election is uncovering things that would undermine confidence in leadership and I think that would contribute to a vote of no confidence in following the current reserve currency. Gold in some form would allow a sidestep of this type of event and allow all nations-such as Japan to inflate way the debt. I hope for the best but prepare for some type of monetary reset but think it several years away at least.

  • Praetor

    Canada sold its Gold. I think, I have some of it. Hope they don’t want it back!!!

  • Ron B. Saunders

    DB, you hit the nail on the head with this article.

    I have long been aghast at the insanity of Canada’s policy of depleting gold holdings in the country’s foreign reserves. Given the state of today’s global macroeconomics, it makes no sense.

    In the past, I have traded correspondence with two Canadian Ministers of Finance (Flaherty and Oliver) expressing my concern and contention. Their replies took months, and I finally enlisted the help of my Member of Parliament to jab some ribs.

    The reticent responses raised the hair on the back of my neck. You could feel the invisible hand guiding the Minister’s justifications: repeated mantra about the illiquidity of gold, how gold’s use as money is archaic, and how the superiority and strength of international “marketable fixed-income securities” (USD, EUR, JPY) affords greater security and risk mitigation. In their words, “This risk mitigation strategy cannot be effectively undertaken with gold.”

    I ceased my badgering, as the blood loss draining from my forehead became life threatening.

    Let’s understand that Canada’s Ministry of Finance does not hire dummies. They get it. Therefore, they are directed, and that direction comes from beyond Canada’s borders. The NAU has already arrived; they just have not yet held the debutante party.

    Ever wonder why, unlike hundreds of other nations, there are no American military bases in Canada? Ha! American forces constantly retain a presence on Canadian bases, keeping a watchful eye through joint training exercises, and maintaining the spirit of friendly security cooperation. Canada could never defend a 4000-mile border against American incursion, and the nation’s leaders and deep state masters are well aware of it. They act accordingly.

    During the 2008 financial crises, three of Canada’s top banks (yes, the same ones that are often considered some of the strongest in the world) were rendered insolvent. Neither the Canadian government nor the mainstream media divulged this. Betcha can guess who bailed them out. Of course, the US Federal Reserve.

    Canada’s financial system is systemically interdependent with America’s banking system. When the banksters fail, the vortex will suck Canada into it.

    Canada’s economy is primarily dependent on trade with America, and would fail without it.

    Canada’s large land mass is vastly under populated, and makes a tempting target for Globalist immigration aspirations.

    Canada is a vassal state of the American Empire. Evidence suggests Mexico is as well. Almost makes discussion about the inevitability of NAU moot.

  • Sc0rPs

    The problem with your arguments is that the dollar has not had gold backing for a very long time. Gold reserves do influence how ‘investors’ view the financial health of a country. The paper dollars themselves are based on nothing but debt.

    • “Gold reserves do influence how ‘investors’ view the financial health of a country.” Yes, this is the point. Even the euro is nominally “backed” by some gold.

      • Sc0rPs

        Appreciate you replying! Gold reserves is one aspect for a nation’s health, but a country such as Canada is more viewed for the resources it has and a slew of other factors such as population, economy, stability, etc. Even though there is a vast amount of natural resources (including gold) it is usually pegged to oil.

        Currencies are not backed by anything; they are fiat currencies based on debt, in recent times both Iraq & Libya tried offering gold backed currency… and look what happened to them. More recently yet China has started to introduce a gold backed yuan.

  • windsor1

    None of these three currencies is backed by gold, so your argument does not seem logical. The gold sale seems to fly in the logic of Russia and China who are accumulators.
    The real answer might be that cash was needed to shore up a faltering economy. As any short sighted government might do it sold gold rather than raise taxes.

  • The biggest problems at the moment is not that Canada has no “money” at all, but the fact that, for over 40 years, Canada has refused to teach in their “societal thought remodeling system” the difference between the “fiat debt” we have been using since the middle of 1967, and “real money.”

    VERY few Canadians are aware of the difference, and when confronted with the facts, they most often choose to ignore the facts, as they conflict with lies they’ve been told, or their own wilfull ignorance on the subject.

    I estimate that less than 5% of Canadians even know that there’s been a 90% bail-in clause in the Canadian budget since 2013!

    When it hits, it’s going to hit HARD, and the vast majority of Canadians are going to suffer greatly.

    But it’s OK…they’ll just cut the education budgets a little more to make up the difference…right?

    PS: Watch Mike Maloney’s “Hidden Secrets of Money” and watch the videos you find there. NOW! Then get yourself some silver, if you’re one of the 99% of Canadians who simply can’t afford to buy $1800.00 ounces of gold. And don’t forget to pass on what you learn to your own family and friends. No sense being the only one in your family/town who’s taken even a single step towards protecting their own interests!

  • Rastindian/FatShiva

    Dear Bell,
    It is imminent in my opinion, the draft of NAFTA coming on the table of the executives of all the three countries that are primarily in it. In fact, with the recession being subverted through n number of money-printing exercises and the BRIC nations still seeing a fair amount of progress, it only makes logical sense(the morality of it still being up for questioning) to further give it a forward thrust by building a compact-mini EU of sorts in the Americas even and not just North-America.The mass-media is right behind this opinion, matching the benefactors of this draft pace-for-pace. I would give it another 5 years maximum till it becomes a reality.
    If Mr.Trump seizes power the proposal may get delayed(that’s a big may because although his reputation precedes him, he is not decided on this issue) but it has to come up as a talking point because there is nothing else to talk about in terms of ways/methods to come out of the rut [in general public news anyways].
    Better to sit on the fence in discussions of the nature of say,’ NAFTA should be banned’ than have a hard-nosed opinion on it. 5 years is a long time away..esp. for America.

  • rahrog

    Perhaps the more important question is not why did Canada sell it’s gold, but who bought the gold? Who owns it? Who holds it. Where is the gold?

  • Joe Loma

    Canada is a major gold producer. It could easily build a big gold reserve if needed. Just instruct all gold produced in Canada to be solely sold to the Canadian Mint at world prices. It’s been done before. China does that now. This is no big deal. Non producers shold maintain reserves.

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