We have shown in a previous article that the United States is not really a generous country for assisting the development of poor countries. We also found that the American dollar is propped up by a greedy Bush administration as the United States is the world's largest debtor owning $3.7 trillion to the rest of the world and as the country experiences a chronic foreign trade deficit in the order of 4 percent of the Gross Domestic Product (GDP).

What is happening in Canada is ridiculous, we have a propped up American dollar and our financial gurus are complaining that our Canadian dollar must be strengthened. Canada has been experiencing a favorable foreign trade of goods while at the same time experiencing the same harmful proportion of foreign debt to GDP as the United States.

In these circumstances, we should not feel any worry about our own dollar being weak, but this is not the case for Gordon Nixon, chief executive of Royal Bank of Canada. It is my understanding that while Nixon waves the Canadian flag, he really wants Canada to become another state of the United States as he preaches the "uber alles" gospel of a strong Canadian dollar while we all know the artificial strength of the American dollar. At a recent meeting of the Canadian Club in Montreal, Nixon pointed out how so many domestic companies were being taken over by American firms and stated that

"the decline in our dollar has been one of the contributing factors to an issue of extreme importance to our competitiveness, sovereignty and quality of life that is often referred to as the 'hollowing out' of corporate Canada."

We live in a confused world, the global economy has become a gambling casino, and we are all losing our minds and our sovereignty as the power of money and the power of guns take over the power of people and the power of democracy.

I am asking, what is at the root of the weak Canadian dollar? One answer is the artificial propped up American dollar, but let us not forget the chronic corruption of our Liberal government along with our business run provincial governments.

References

On Equilibrium, by John Ralston Saul, 2001, Penguin Books. Quote: With common sense we are neither gods nor demented, page 324

The Free Market of Corporate America: Raping developing countries, waging wars and sustaining tyrannies Mario deSantis, May 6, 2002 http://www.ftlcomm.com/ensign/desantisArticles/2002_600/desantis635/freemarketEc.html

Imports and exports of goods on a balance-of-payments basis, Statistics Canada, 1996-2001 http://www.statcan.ca/english/Pgdb/Economy/International/gblec02a.htm

U.S. pulls ahead of Canada as bigger international debtor By Bruce Little, Globe and Mail, April 1, 2002 http://globeandmail.workopolis.com/servlet/News/qresource/20020401/RAMAZ?section=Bruce_Little

Building Canada's Prosperity in a New Century Gordon Nixon, President and Chief Executive Officer, RBC Financial Group, Canadian Club of Montreal, Montreal, Quebec, May 6, 2002 http://www.rbc.com/newsroom/20020506nixon.html

Royal Bank Of Canada Mulls Channel Island Expansion, by Keith Kalawsky, National Post, (Financial Post) 03 April 2002. An excerpt: Royal Bank of Canada is hunting for acquisitions to increase its private banking business in continental Europe and the Channel Islands, a well-known offshore banking centre and tax haven. http://www.investorsoffshore.com/asp/story/storyinv.asp?storyname=7812

Royal Bank CEO Gordon Nixon Annual Compensation: $10,462,000 http://top1000.robmagazine.com/ceo/

Auditor general refers Liberal contracts to RCMP for investigation CBC Canada. An excerpt: Sheila Fraser [auditor general] said in her report that senior civil servants in the Public Works Department "broke just about every rule in the book" when handing out the contracts to the firm Groupaction. Wed, 08 May 2002 http://www.cbc.ca/stories/2002/05/08/fraser_report020508