-- Posted Thursday, 13 October 2011 | | Disqus
By Rob Kirby
Something which has created a stir in the alternative media [the derelict mainstream have long ceased reporting the news] in the past couple of days is a report concerning new steps being required of investment advisors in Canada relating to their KYC [Know Your Client] procedures. This was first brought to my attention by Jeff Berwick [The Dollar Vigilante] and I’d advise everyone to read his piece on this here. These new steps involve / require investment advisors to complete a questionnaire – prepared by a national regulatory body called FINTRAC – to help investment advisors “identify” suspected terrorists.
Here’s a screenshot of one of the questionnaires that Canadian investment advisors are being compelled to complete as part of their indoctrination:
I hope this characterization “sits well” with all you animal rights activists who FINTRAC has just labeled as terrorists.
Here’s who FINTRAC of Canada claims to be:
Who We Are
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Canada's financial intelligence unit, was created in 2000. It is an independent agency, reporting to the Minister of Finance, who is accountable to Parliament for the activities of the Centre. It was established and operates within the ambit of the Proceeds of Crime (money Laundering) and Terrorist Financing Act (PCMLTFA) and its Regulations.
The Real Genesis of FINTRAC: A Loss of National Sovereignty
When you peel back a few layers of the “onion” – and research where, or who, really stands behind this thinly veiled system of Capital Controls – by reading in the margins, you discover that this sordid regime of Capital Controls – known in Canada as FINTRAC – is really nothing more than an off-shoot of FinCEN - a product of the US Treasury.
Says the U.S. Treasury:
“FinCEN’s mission is to enhance U.S. national security, deter and detect criminal activity, and safeguard financial systems from abuse by promoting transparency in the U.S. and international financial systems.”
Sounds a little bit like the mission statement of Homeland Security or the Patriot Act, eh?
The Real Terrorists
Before the U.S. Treasury gets too-hot-and-heavy imposing their will on financial dealings involving Canada – perhaps they should clean up the mountain of feces in their own back yard:
So Where Do Vast Amounts of Illicit Money Come From?
Folks need to realize that the Federal Reserve has ALWAYS collected and analyzed data on all macro monetary flows. What this means is this: the Federal Reserve would most likely be required to be a willing participant, or wilfully negligent, if any extra-ordinarily large flows of illicit fiat money were moving through “THEIR” system without them blowing the whistle, so to speak. We know this to be fact if we are going to accept the position put forward by officialdom - that they can and did accurately ‘track’ the financial trail of minute cash advances and purchases of alleged 9/11 plane hijackers, in the amounts of hundreds or thousands. Are we to believe that this can be accomplished but they are UNABLE to give us the real deal on much larger proceeds of crime – like not being able to divulge where one-red-nickel of 65 billion of pilfered Madoff funds are?
From her investment banker’s perch with experience in both Wall Street and cleaning up mortgage fraud in Washington, Catherine Austin-Fitts realized that illegal proceeds from crime were regularly being “laundered” through Wall Street conduits. It was from Fitts’ time in government where she really gained a better understanding as to the level or degree of corruption and abuse of power:
As Assistant Secretary for Housing-Federal Housing Commissioner, [she] was responsible for the operations of the Federal Housing Administration (FHA), which was the largest mortgage insurance fund in the world. FHA at that time had annual originations of $50-100 billion of mortgage insurance and an outstanding portfolio of $320 billion of mortgage insurance, mortgages and properties. Leading the FHA necessitated significant understanding of how homes are built, how mortgages finance thousands of communities throughout America and how investors finance the process by buying securities in pools of mortgages. [Her] responsibilities included the production and management of assisted private housing; management of an organization of 7,000 employees in 80 offices nationwide; and development of network information systems and tools. In addition, [she] served as advisor to the Secretary of HUD on financial markets regulatory responsibilities, including the RTC Oversight Board, Federal Housing Finance Board and Home Loan Bank Board System, Fannie Mae and Freddie Mac.
When [she] told Nick Brady in 1989 that [she] was going to work at HUD, he said, “You can’t go to HUD — HUD is a sewer.” While [her] experience as Assistant Secretary cleaning up significant mortgage fraud that lost the government billions during the 1980s confirmed that HUD’s financial reputation was deserved, leading the FHA provided invaluable insight into how government management of the economy one neighborhood at a time really harms communities.
The lewd dealings that Fitts uncovered during her time in government, and later as a principal of Hamilton Securities; they centered on the fraudulent and overt abuse of mortgage bonds along with the sovereign credit of the U.S.A. Due to the dollar volumes involved – she eventually realized were operationally funding “black budgets”.
In her book, Dillon Read and the Aristocracy of Stock Profits, Catherine Austin-Fitts chronicles a gamut of unsavoury financial dealings - most dealing with the lobbying for and cleansing of globally generated narco-Dollars:
People widely regarded and understood as reputable do engage in reprehensible activities. Richard Grasso [former NYSE Chairman] hugging a FARC Commander in 1999 in a rebel village in Colombia at the time the GAO reported that FARC had assumed control of a majority market share of the Colombian cocaine trade. (Photo courtesy LaRouche Campaign) Grasso was alleged to be lobbying FARC to invest their illicit drug money in the American stock market.
Let’s not forget the sordid story of money laundering at Wachovia – as reported by Naked Capitalism back in April, 2011:
Wachovia was at the heart of one of the world’s biggest money laundering operations, moving $378.4 billion into dollar-based accounts from Mexican casas de cambio, which are currency exchange firms. While these transfers took place over a period of years, the article notes that it equals 1/3 of Mexican GDP. And the resolution?
Criminal proceedings were brought against Wachovia, though not against any individual, but the case never came to court. In March 2010, Wachovia settled the biggest action brought under the US bank secrecy act, through the US district court in Miami. Now that the year’s “deferred prosecution” has expired, the bank is in effect in the clear. It paid federal authorities $110m in forfeiture, for allowing transactions later proved to be connected to drug smuggling, and incurred a $50m fine for failing to monitor cash used to ship 22 tons of cocaine.
The operation may have started sooner, but the Wachovia admitted in the settlement that as of 2004 it had reason to address the procedures used for these transfers and chose not to.
That the Canadian Government has allowed this tyrannical organ of the criminal U.S. money machine “infect” our way of life is treasonous – imposing Capital Controls via stealth whilst creating a grand diversion of labeling animal rights activists and anyone who disagrees with government policy as “terrorists”.
Regulatory bodies like FINTRAC and FINCEN have been created to a] ENSURE that no one else can compete with the real runners of illicit arms, drugs and who knows what else and b] ENSURE that anyone who dares speak the truth is persecuted and / or perhaps prosecuted.
This is nothing short of indictable traitorous deceit.
We’ve ALL been sold out.
Canadians should all be mourning the loss of national sovereignty.
Rob Kirby
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-- Posted Thursday, 13 October 2011 | Digg This Article
| Source: GoldSeek.com
