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Committee On Monetary And Economic Reform
The Committee on Monetary and Economic Reform (COMER) is an economics-oriented publishing and education centre based in Toronto, Ontario, Canada. Organization COMER was co-founded by William Krehm and John Hotson in the 1980s as a think tank out of concern for the "debt-based monetary system" described as unsustainable. COMER says it studies the destabilization that current economic and monetary policies have caused, and are causing, for the citizens of Canada and other countries. COMER argues for a mixed economy, and changes in monetary policy through what it argues is the mandate under the ''Bank of Canada Act''. Ann Emmett is the chair of the organization. Lawsuit against Bank of Canada In 2011, COMER brought a lawsuit against the Canadian Government. COMER claimed that the Bank of Canada is mandated under the Bank of Canada Act to provide debt-free support for public projects undertaken by federal, provincial and city governments, as it did from its foundation in 1935 to 1974. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Toronto
Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the anchor of the Golden Horseshoe, an urban agglomeration of 9,765,188 people (as of 2021) surrounding the western end of Lake Ontario, while the Greater Toronto Area proper had a 2021 population of 6,712,341. Toronto is an international centre of business, finance, arts, sports and culture, and is recognized as one of the most multicultural and cosmopolitan cities in the world. Indigenous peoples have travelled through and inhabited the Toronto area, located on a broad sloping plateau interspersed with rivers, deep ravines, and urban forest, for more than 10,000 years. After the broadly disputed Toronto Purchase, when the Mississauga surrendered the area to the British Crown, the British established the town of York in 1793 and later designat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Krehm
William Krehm (November 23, 1913 – April 19, 2019) was a Canadian author, journalist, political activist and real estate developer. He was a prominent Trotskyist activist in the 1930s and went to Spain where he participated in the Spanish Civil War. In the 1980s he co-founded the Committee on Monetary and Economic Reform (COMER) in the 1980s and continued as the group's principal leader until his death. He died in April 2019 at the age of 105. Early life Krehm was born in Toronto to Hyman and Sarah Krehm, Jews who had left the Russian Empire separately between 1905 and 1910, before meeting and marrying in Toronto's St. John's Ward, known as The Ward, a working class district that was home to successive waves of immigrants.IDA KREHM by William Krehm The Globe and Mail (1936-Current); Sep 29, 1998; ProQuest Historical Newspapers: The Globe and Mail pg. A22 Hyman Krehm and his brother, Harry, had been furriers in Russia and continued that trade in Canada. William Krehm was a talent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Theory Of Money
Credit theories of money, also called debt theories of money, are monetary economic theories concerning the relationship between credit and money. Proponents of these theories, such as Alfred Mitchell-Innes, sometimes emphasize that money and credit/debt are the same thing, seen from different points of view. Proponents assert that the essential nature of money is credit (debt), at least in eras where money is not backed by a commodity such as gold. Two common strands of thought within these theories are the idea that money originated as a unit of account for debt, and the position that money creation involves the simultaneous creation of debt. Some proponents of credit theories of money argue that money is best understood as debt even in systems often understood as using commodity money. Others hold that money equates to credit only in a system based on fiat money, where they argue that all forms of money including cash can be considered as forms of credit money. The first for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Canada Act
The ''Bank of Canada Act'' (the Act) is a statute that sets out the governance structure and powers of the Bank of Canada, which was created in 1934 as Canada's central bank. Prior to 1934, Canada had no central bank and fragmented control of the banking system. The Canadian Bankers Association took the role of regulating the bank system since 1891 and the Bank of Montreal was the government's banker. In ''The Bank of Canada Act, 1934'', The Bank of Canada was incorporated as a central bank "to regulate credit and currency in the best interests of the economic life of the nation ... and generally to promote the economic and financial welfare of the Dominion." The initial capital was , consisting of shares of fifty dollars each for public subscription. Under Section 24, it was given the sole right to issue notes payable to the bearer on demand and issue notes to any amount. Under Section 25, these notes (known as legal tender) could be converted to gold at the head office in Ott ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank For International Settlements
The Bank for International Settlements (BIS) is an international financial institution owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through its meetings, programmes and through the Basel Process – hosting international groups pursuing global financial stability and facilitating their interaction. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City. History The BIS was established in 1930 by an intergovernmental agreement between Germany, Belgium, France, the United Kingdom, Italy, Japan, the United States, and Switzerland. It opened its doors in Basel, Switzerland, on 17 May 1930. The BIS was originally intended to facilitate reparations imposed on Germany by the Treaty of Versailles after World War I, and to act as the truste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rocco Galati
Rocco Galati (born 1959) is an Italian-born Canadian lawyer who specializes in cases involving constitutional law. Early life and education Galati was born in Calabria, Italy and his family immigrated to Canada in 1965. He graduated from McGill University in 1984 with a Bachelor of Arts and then graduated from Osgoode Hall Law School in 1987. Career After his Call to the bar he worked at the federal Department of Justice. Criminal cases In 2001, Galati defended Delmart Vreeland at trial. Galati was Abdurahman Khadr's first lawyer. In late 2003, Galati resigned from all national security cases after being the target of death threats. Galati said a threat left on his answering machine stated: "Well, Mr. Galati. What's this I hear about you working with the terrorist now, helping to get that (expletive) punk terrorist Khadr off. You a dead wop." Galati requested 24-hour surveillance of his house; when the RCMP refused to provide this, he declared that "we now live in Colombia be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Monetary Institute
{{Notability, date=April 2022 The American Monetary Institute is a non-profit charitable trust established by Stephen Zarlenga in 1996 for the "independent study of monetary history, theory and reform." Aims The institute is dedicated to monetary reform and advocates taking control of the monetary system out of the hands of banks and placing it into the hands of the US Treasury. Zarlenga argues that this would mean money would be issued by government interest free and spent into circulation to promote the general welfare, and that substantial expenditures on infrastructure, including human infrastructure (education and health care) would become the predominant method of putting new money into circulation.W. Krehm, Review of Zarlenga's Lost Science of Money, Economic Reform Australia, Vol 3 No 18 See also *Committee on Monetary and Economic Reform (Canada) *Chartalism *Monetary reform *Money creation *Chicago plan The Chicago plan was a monetary and banking reform program sug ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago Plan
The Chicago plan was a monetary and banking reform program suggested in the wake of the Great Depression by a group of University of Chicago The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ... economists including Henry Simons, Garfield Cox, Aaron Director, Paul Douglas, Albert G. Hart, Frank Knight, Lloyd Mints and Henry Schultz. Its main provision was to require 100% reserves on deposits subject to check, so that "the creation and destruction of effective money through private lending operations would be impossible". The plan, in other words, envisaged to separate the issuing from the lending of money. This, according to its authors, would prevent the money supply from cyclically varying as bank loans were expanded or contracted. In addition, the payment system would become per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Chicago Plan Revisited
The Chicago plan was a monetary and banking reform program suggested in the wake of the Great Depression by a group of University of Chicago economists including Henry Simons, Garfield Cox, Aaron Director, Paul Douglas, Albert G. Hart, Frank Knight, Lloyd Mints and Henry Schultz. Its main provision was to require 100% reserves on deposits subject to check, so that "the creation and destruction of effective money through private lending operations would be impossible". The plan, in other words, envisaged to separate the issuing from the lending of money. This, according to its authors, would prevent the money supply from cyclically varying as bank loans were expanded or contracted. In addition, the payment system would become perfectly safe. No great monetary contraction as that of 1929-1933 could ever occur again. This idea of 100% reserves on checking deposits would be advocated by other economists in the 1930s, including Lauchlin Currie of Harvard and Irving Fisher of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
A Program For Monetary Reform
The Chicago plan was a monetary and banking reform program suggested in the wake of the Great Depression by a group of University of Chicago economists including Henry Simons, Garfield Cox, Aaron Director, Paul Douglas, Albert G. Hart, Frank Knight, Lloyd Mints and Henry Schultz. Its main provision was to require 100% reserves on deposits subject to check, so that "the creation and destruction of effective money through private lending operations would be impossible". The plan, in other words, envisaged to separate the issuing from the lending of money. This, according to its authors, would prevent the money supply from cyclically varying as bank loans were expanded or contracted. In addition, the payment system would become perfectly safe. No great monetary contraction as that of 1929-1933 could ever occur again. This idea of 100% reserves on checking deposits would be advocated by other economists in the 1930s, including Lauchlin Currie of Harvard and Irving Fisher of Yal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Advocacy Groups In Canada
Politics (from , ) is the set of activities that are associated with making decisions in groups, or other forms of power relations among individuals, such as the distribution of resources or status. The branch of social science that studies politics and government is referred to as political science. It may be used positively in the context of a "political solution" which is compromising and nonviolent, or descriptively as "the art or science of government", but also often carries a negative connotation.. The concept has been defined in various ways, and different approaches have fundamentally differing views on whether it should be used extensively or limitedly, empirically or normatively, and on whether conflict or co-operation is more essential to it. A variety of methods are deployed in politics, which include promoting one's own political views among people, negotiation with other political subjects, making laws, and exercising internal and external force, including wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Reformers
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possess intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. Contexts which erode public confidence, such as the circulation of counterfeit money or domestic hyperinflation, can cause good money to lose its value. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
