FREE or FAIR? The Trade Justice Movement!

You Are Invited

To a Presentation by

Trade Justice London

The Global Trade Justice Movement: 

Past Successes and Future Possibilities

Jennifer Chesnut, Chair
Trade Justice London
Council of Canadians

Council of Canadians

London Chapter

When:   Monday, February 10, 2014

Where:  Tolpuddle Co-op general room

380 Adelaide between Dundas and King

Time:  6:30 - 9:00 pm

Finger food, coffee, tea

Networking and Action Plans

This is a FRAGRANCE FREE event.

Bus goes down Dundas - questions - need a ride - 519 - 601 - 2053

Background:  Since the late 80's, trade deals have increasingly become the dominant model of inter-country governance. Written behind closed doors, trade justice action is a challenge ripe for those who care about water, poverty, food sovereignty, public services, culture and democracy. Learn about the successes in the trade justice movement from the MAI to the FTAA, and creative strategies past and present for educating and pressuring for fairer trade.

Council of Canadians, London Chapter   -   Agenda
Monday, Feb. 10,  2014 - 6:30 - 9:00 pm 

Tolpuddle Co-op general room (380 Adelaide between Dundas and King)

6:30 - 6:45 coffee, tea, finger food
Bring a plate of something to share if you can

1) BUSINESS - Reports and updates

Treasurer - Masoud Karimi
Trade Justice - Jennifer Chesnut 

Solidarity Film Coalition - Marie France 

Peace and Human Rights - David Heap 

Health - Jeff Hanks

Food Security - Celeste

Report on Birdbone Theatre - Roberta

Walker Landfill Protest every Friday - Roberta
Fundraising

services auction - Celeste 

Hyland film night - Roberta

2) Announcements

Gaza's Ark <info@gazaark.org>  Supporting Gaza

Paul Ferris, SumOfUs.org <us@sumofus.org>  Info on the TPP and actions to take

Oppose the "Fair Elections Art" which is NOT FAIR

"Hold the phone! Call for democracy"  12:30 pm today

Sign our Democracy 24/7 petition<http://www.canadians.org/election/letter-to-Harper.html> now, as we will be delivering the petition to Craig Scott, NDP Democratic Reform Critic, on Monday afternoon on Parliament Hill.

As part of the delivery, we're inviting people from Ottawa to join us on Parliament Hill for a mass phone-in to Conservative MPs asking them not to ram this legislation through without further thought and study. People across the country can also participate by phoning an MP from wherever they are. Start time is 12:30 PM. Craig Scott will be arriving to accept the petitions at 1:00 PM.

3) GLOBAL TRADE JUSTICE MOVEMENT: PAST SUCCESSES AND FUTURE POSSIBILITIES

    Program and action to follow

4) BREAKOUT GROUPS AND NETWORKING - FIND YOUR PASSION - PICK AN ISSUE

50 NEXT MEETING - Monday, March 17, 2014 - Tolpuddle - 6:30 to 9:00.

THE BOAT FROM GAZA - David Heap

Bus goes down Dundas. Ride pooling - offer a ride or need a ride - 519-601-2053

Meeting Minutes, Jan. 13, 2014
Present: Roberta Cory, Robert Cory, Aldous Smith, David Heap, Jennifer Chesnut, Masoud Karimi, Jeff Hanks, Julie Picken-Cooper, Anne Dyer, Jessie Hanke, Rod Morley, Celeste Lemire, Paula Marcotte, Christine Troughton, Kathy Clee, Phil Butterworth, Bryan Smith, Steve McSwiggan, Suzanne Crellin, Mike Farlowe, Deb Woodhall, Monika Rauche, Bill Smith, Jodi von Wahl, Susan Smith.
Agenda
BUSINESS
a) Reports and updates

•   Treasurer - Masoud Karimi: updated C of C accounts.
  
•   Trade Justice - Jennifer Chesnut
  

o NAFTA closing factories, creating insecurity for jobs. 500,000 jobs lost since 1994.
o Outlined Our Intercontinental Day of Trade Justice Action, on Feb 1st. 20th anniversary
of NAFTA.
o Please connect with us if you have a network you can help with. Walk begins at noon; and movie at 2pm.
o Initiative for City Hall motion on CETA. Modelled on Toronto’s request for opt out and vote – to Kathylnn Wynne. This will be ongoing through Jan/Feb.
 Solidarity Film Coalition - Marie France
o Report by Paula Marcotte: Museum London co-sponsoring. April 5th and 6th. Theme
will be all water.
 Peace and Human Rights - David Heap

o Regional People’s Social Forum, Central Library 1-5pm. Working towards peaceful social forum in August – cross-Canada
o Prison Justice Film Festival showing around London from January 29th to February 2nd.

•   Willexplore:connectionsbetw.IndigenousandPalestinianstruggles
  
•   Immigration/detention/security certificates (current strike at Lindsay Detention Centre
  
•   Effects of Residential Schools on Turtle Island, and connections to prisons
  
•   QueerandTrans.prisoners
  
•   Warondrugsandusers
  
•   PoliticalprisonersinLatinAmerica
  
•   Illegal and inhumane treatment of Omar Khadr
  
•   TherewillbeaMarchmonthlymeetingaboutGaza’sArk
  

 Health - Jeff Hanks
o Making Waves campaign in Windsor – Jeff will update when info. available
o The federal health accord is running out in March. Conservatives have said they will peg spending to 3% of GDP which means about 36 billion in cuts planned. Harper said would keep escalator payments for a few years but has reneged and is refusing to give about 600 million promised.
o Ontario liberals passing legislation to allow LHINs (Local Health Integration Networks) to take cataract surgery and endoscopy out of hospitals and offer it in private clinics. This is seen as a move to privatize services and will lead to closure of rural and community hospitals as more and more services are offered in clinics. Necessary to try to stop them by mobilizing people.
 Water Committee
o Roberta: We have no water committee. Need to discuss this and bring a group togther. On breakout, cards from Maude’s visit circulated, to get momentum for inititatives to go with.
 Related issues that could be addressed by Water committee: Conservation; The RIGHTS of water, legal protection; Education about water issues - Blue Communities Project; Fracking and aquifers



f) NEXT

o o o

Charlie Angus’ book Unlikely Radicals – on the mine dump war.
Penn Kemp’s book in memory of Jack Layton. $25:00, $5 of which goes to C of C Tailings of Warren Peace, $20:00

 

Bee issue and neonicotinoids headed up by Celeste and Margo. They approached city hall for ban on neos, but no go. Work continues apace.
OPAL Presentation: Steve McsSwiggan, Suzanne Crellin , Bryan Smith, gave compelling and informative presentation on the proposed Ingersoll Dump.
o “Located adjacent to Ingersoll, Centreville, and Beachville, the proposed Walker Industries mega-landfill would occupy a section of Carmeuse Lime's quarry operation and is planned to be the 4th largest landfill in Canada” -- opalalliance.ca
o Next protest – Beachville Rd and Embro Rd. [See ‘Stop the Dump’ on FB] o See also: www.opalalliance.ca
o For similar information, see movie, Trashed, by Jeremy Irons.
Fundraising Initiatives discussed. o Celeste - Services auction
 Servicesdonated,fromgardeningtolawyerdonatingawill.LasttimeCeleste was part of Services fund raiser, netted over $6,000.
o David Heap - Hyland film night
 David is talking with Ali (Mgr. of Hyland); Roberta will follow up.
Roberta introduced books



Birdbone Theatre, doing Line 9 work. Coming to Woodstock and Feb 2-3 at East Village Coffee House
MEETING - Monday, February 10, 2014 - Tolpuddle - 6:30 to 9:00. 

Formatted minutes:
http://londoncouncilofcanadians.ca/LondonCoCMeetingMinutes.pdf

Half Page Handbill Jan. 18, 2014


http://londoncouncilofcanadians.ca info@londoncouncilofcanadians.ca

Chapter Chair – Roberta Cory
robertacory@rogers.com
519-601-2053 

Facebook, Twitter, blog

WE WANT TO WORK
IN SOLIDARITY WITH YOU!

Campaigns: Trade Justice London, London Health Coalition (fighting austerity and privatization), Food Security (Pollinator Sanctuary London), Solidarity Film Coalition (with LACASA), Water Rights, Stop Line 9, Peace and Human Rights

WALK OF SOLIDARITY AND RESISTANCE TO FREE- TRADE GLOBALIZATION
Sat., Feb. 1, 2014, 12 noon, meet at Tolpuddle Co-op on Adelaide

TAR SANDS DRAGON OPERA
Sun., Feb. 2, 2014, East Village Coffeehouse at English and Dundas 6:00 pm potluck; 7:00- 9:00 pm performance by Birdbone Theatre

EARTHDAY PARADE IN LONDON
IMAGINE FLOATS, BICYCLES, PROPS, MASKS, COSTUMED MARCHERS, REVELERS, MUSIC, DRUMMING, CELEBRATING OUR MOTHER GAIA. Freedom of Speech Marchers – any group with a message about human beings and their relationship to our planet – from celebratory to ironic humour. Email robertacory@rogers.com See for example: Heart of the Beast May Day parade, http://hobt.org/mayday/parade/

LETS GET ORGANIZED AND MAKE IT HAPPEN!

Birdbone Theatre's "Tar Sands Dragon Opera" coming to London Feb. 2nd!

Hosted by the London Chapter 
of the Council of Canadians 
on SUNDAY, FEBRUARY 2, 2014 
6:00 - 9:00 pm 

EAST VILLAGE COFFEEHOUSE 
(English and Dundas) 

POTLUCK  
6:00 pm 
(Crockpots can be plugged in.) 

PERFORMANCE  
7:00 - 9:00 pm 

Message from Alison Gayle about the tour:
"WE NEED YOUR HELP!
We will be touring our Tar Sands Dragon Opera (and clown show) along Line 9 the month of February, and we are looking for folks who will host our show in their communities (schools, community halls, living rooms etc.) We would love to connect with as many of the folks involved in Line 9 organizing as possible. 
The Tar Sands Dragon Opera is a puppet tragi-comedy featuring the clown hysterics of a bewildered cardboard population struggling to come to terms with the murky convoluted thinkings on Tar Sands expansion and consequent Line 9 reversal. The show will also feature music and dancing by humans, to lighten the occasionally inky mood. The Tar Sands Dragon Opera is a media project. We will learn about the case against the reversal of Line 9 from the communities we perform for, and will allow this to inform our show as we go. We will also make short radio pieces along the way when appropriate. 
Alison Gayle, Birdbone Theatre"

www.birdbonetheatre.wordpress.com

https://www.facebook.com/BirdboneTheatre 

Voluntary donations to support the tour will be accepted at the venue or online on the Theatre website.

Roberta Cory
Chair,  Council of Canadians London Chapter
519-601-2053

Walk of Solidarity! Saturday Feb. 1, 2014

MEDIA RELEASE For Immediate Release Jan. 13, 2014
On Saturday, February 1st Londoners are invited to join in a Walk of Solidarity for local workers. The walk will assemble at the Tolpuddle Housing Co-op, in the main floor, 380 Adelaide St. North, at 12 pm. It brings together a number of local groups, in recognition of the Inter-Continental Day of Trade Action on January 31st. As reported by the Trade Justice Network, “January 2014 marks the twenty-year anniversary of the North American Free Trade Agreement (NAFTA), a pact that has had devastating consequences for working families, small farmers, indigenous peoples, small business and the environment in all three countries and beyond. This is a call to action for communities throughout Mexico, Canada and the United States to join together on January 31, 2014, and say “ENOUGH!” to the North American Free Trade Agreement (NAFTA), the pending Trans-Pacific Partnership (TPP) and other corporate “trade” deals.”
London-area groups participating in this event include: The Council of Canadians: Trade Justice London; the London and District Labour Council; LACASA; and the National Farmers’ Union. We will be walking in solidarity with employees of Kellogg’s, Heinz, and Canada Post, who have seen, or will see in 2014, significant job losses.
Globalization, and in particular new investor-state trade deals, beginning with NAFTA and continuing with CETA and the upcoming TPP, are of great concern to everybody, it seems, except our governments. NAFTA, touted by Prime Minister Mulroney as a great job-maker for Canada, actually saw the loss of about 500,000 manufacturing jobs in the past 20 years. It is a deal that has also destroyed jobs, businesses and industries in Mexico, where new economic prosperity was promised. Experts see CETA and the upcoming TPP as having even more drastic consequences for employment, public services, and for municipal governments across Canada.
Please feel welcome to join us in the Walk of Solidarity and Resistance to Free-Trade Globalization! At the conclusion of the walk, come in out of the snow and enjoy good company and food at the brand new East Village Coffee House, as we show the documentary Hoodwinked! We invite participants and the public to this powerful film that focuses on the truth about free trade in Canada. The film starts at 2:00 pm and admittance is free to all.
For information, please contact:
Trade Justice London Chair, Jennifer Chesnut, at: tradejusticelondon@gmail.com, or Trade Justice London editor/writer, Aldous Smith: aldoussmith@gmail.com, Aldous: 519-433-5841

Fighting the good fight with OPAL Alliance!

You are invited

To a presentation by

Oxford People Against the Landfill

Council of Canadians

London Chapter

When:   Monday, January 13, 2014

Where:  Tolpuddle Co-op general room

380 Adelaide between Dundas and King

Time:  6:30 - 9:00 pm

Finger food, coffee, tea

Reading of the "Idea Cards" collected at 

Maude Barlow's Blue Future talk

at Aeolian Hall, November 25, 2013

Networking and Action Plans

This is a FRAGRANCE FREE event.

Bus goes down Dundas - questions - need a ride - 519 - 601 - 2053

Announcements

TONIGHT! Jan. 6, 2014
Trade Justice London Meeting
6:30 pm Teen Reading Area, main floor, Central Library

Jan. 9, 2014
TREA: Future of Waste Management and Energy Conservation in London
7:30 mp Grosvenor Lodge, 1017 Western Road

Jan. 13, 2014
Monthly Meeting of the London Chapter of the Council of Canadians
http://londoncouncilofcanadians.blogspot.ca/2014/01/january-meeting-jan-13-2014.html

Jan. 14, 2014
Raise the Rates! Fair Wages Now! rally by London Common Front
4 pm Dundas and Richmond

Jan. 16, 2014
They Were Promised the Sea documentary film presented by Western Film Studies
7:30 pm University College Rm 85

Jan. 17, 2014
Our Collective Struggle: Human and Nonhuman Animals forum by USC/Vegan Society
1:30 pm UCC Rm 315, Western University

Jan. 18, 2014
London Regional Social Forum Organizing Meeting
1 pm Stevenson-Hunt Room, Central Library

Jan. 23 to Feb. 9, 2014
Prisoners’ Justice Film Festival 
http://prisonjusticefilm.wordpress.com

Jan. 27, 2014
City of London Public Meeting 
Medway Valley Heritage Forest ESA, Conservation Master Plan, Phase One
6:30 pm Sir Frederick Banting Secondary School Cafeteria

Community CarShare, your non-profit carsharing co-op, is pleased to confirm that we are coming to town!  Expansion to London is planned for this Spring 2014 (March 1st to May 1st), and we want to help you get involved. Do you know anyone who is interested in getting involved or using CarShare vehicles in London? If so, make sure they get on the email list today so they can get access to all the latest information as soon as possible. You can also reach us at 1-855-SHARE-99 (1-855-742-7399) or by email at info@communitycarshare.ca

January Meeting, Jan. 13, 2014

Council of Canadians, London Chapter   -   Agenda
Monday, January 13, 2014 - 6:30 - 9:00 pm 

Tolpuddle Co-op general room (380 Adelaide between Dundas and King)

6:30 - 6:45 coffee, tea, finger food
3 volunteers needed to bring food (519-601-2053)

1) BUSINESS

a) Reports and updates

Treasurer - Masoud Karimi
Trade Justice - Jennifer Chesnut 

Solidarity Film Coalition - Marie France 

Peace and Human Rights - David Heap 

Health - Jeff Hanks

b) Water Committee - idea cards from Maude's blue future book tour

1. OPAL
2. conservation
3. the RIGHTS of water, legal protection
4. education about water issues - Blue Communities Project 

5. proportional representation
6. fracking and aquifers

c) Fundraising

services auction - Celeste 

Hyland film night - David Heap

2) PRESENTATION BY OPAL (Oxford People Against the Landfill)

“Located adjacent to Ingersoll, Centreville, and Beachville, the proposed Walker Industries mega-landfill would occupy a section of Carmeuse Lime's quarry operation and is planned to be the 4th largest landfill in Canada” --opalalliance.ca

3) BREAKOUT GROUPS AND NETWORKING - FIND YOUR PASSION - PICK AN ISSUE

4) NEXT MEETING - Monday, February 10, 2014 - Tolpuddle - 6:30 to 9:00.

Bus goes down Dundas. Ride pooling - offer a ride or need a ride - 519-601-2053

December meeting - Monday, Dec. 9, 2013

Council of Canadians, London Chapter

Monday,  December 9,  2013  - 6:30 - 9:00 pm

Location:  Tolpuddle Co-op  general room (380 Adelaide between Dundas and King)

December Agenda

6:30 - 6:40  coffee, tea, finger food -2 volunteers needed to bring food  (519-601-2053) 

1) Introductions

Chair - Roberta Cory

Treasurer - Masoud Karimi

Secretary - Aldous Smith

Membership - Geoff Crealock - update

Media and Communications - David Heap 

Website/social media - Rory Cory

Trade Justice - Jennifer Chesnut - Stop CETA history and update

Social Justice Film Festival - Marie France - history and update - "Water Rights" films  in April

Water - Teresa Rutten - ban bottled water update

Peace and Social Justice - David Heap - history and update - People's Social Forum

Health - Jeff Hanks - history and update

Liaison - Rod Morley - networking 

2)   Treasurer's report - Masoud

a) discussion about donation to East Village Coffee House for AGM facilitation 

b) fundraising ideas  - send them by e-mail

3)   New Ideas for actions

a) Social/Environmental Justice Book Club - Julie Picken-Cooper or Marie France

b) Street Theatre - Julie Picken-Cooper or Roberta

c) Spawn of CETApus - Roberta Cory

d) Food Security - bees - Celeste 

e) Line 9 and IdleNoMore - Rod

f) Ontario Power Generation proposed radioactive waste dump near Kincardine 

g) OPAL - Oxford People Agains the Landfill - Margo

h) Earth Day Parade - Roberta

i) Idea Cards from Maude's Blue Future event at Aeolian Hall Nov. 25, 2013

4) Date and place for January meeting?

8:30 - 9:00  sign up for interest groups - discussion - networking - refreshments

Bus goes down Dundas. Ride pooling - offer a ride or need a ride - 519-601-2053

London CoC Steering Committee

The following members of the Steering Committee for the London Chapter were elected at our AGM on November 25, 2013:

Roberta Cory, Chapter Chair:

Roberta joined the CoC in 2001 and was active on the Water Committee of the London Chapter. From 2005 to 2010 she was on the Board of the Victoria, BC Chapter as Membership Chair. She was instrumental in restarting the London Chapter in 2010 and has devoted a large portion of her life since then towards Trade Justice, Water, and Mining Justice issues.

Masoud Karimi, Treasurer:

Former bookkeeper and Math teacher.

Aldous Smith, Secretary:

Aldous became a Council of Canadians member in 2012. As well as attending rallies, writing letters and helping create advertising and C of C booths for various events, he has worked as the designated printer and editor for the London chapter. He has two Masters degrees from Western, and he is a published author and literary critic.

David Heap, Media & Communications Chair:

Associate professor (French & Linguistics) at Western and father of two, David has served in the past as Peace & Social Justice chair for the London Chapter of the Council of Canadians. He is also active locally with People for Peace London, and the Latin American Canadian Solidarity Association (LACASA), and nationally / internationally with the Canadian Boat to Gaza / Gaza's Ark campaign (endorsed by the Council of Canadians). He has often acted as media spokesperson for different causes, and has published widely on e.g. rabble.ca, among other places.

Geoff Crealock, Membership Chair:

Geoff has served over the past three years as Membership Chair.

Robert Cory (“Rory”), Website/Social Media Admin:

Retired professor at Western. Member since 2001. Webmaster for the Victoria, BC Chapter 2006-2010. Website/Social Media Admin for the London, ON Chapter since 2011.

Mining Justice Film Festival this weekend!

A weekend long film festival focusing on the role of Canadian extractive industries at home and abroad. Eye-opening documentaries; current, relevant and controversial issues. Panel discussions, refreshments, information tables.
Get informed, join the debate, get involved! We will be at the Stevenson-Hunt Rooms of the Central Library.

Extracting the Earth is a 3 day free film series that will examine the impact of Canadian extractive industries on the communities where they operate, here and in Latin America. Our intention is to educate and inform the public, as well as to foster discussion on the many aspects related to extraction such as: First Nations rights; environmental and health impacts on the affected communities; human and labour rights; social and economic aspects, including the corporate social responsibility of these multinational corporations. It will be the first time in London that a 3 day film festival is dedicated entirely to these topics.

Dates: November 15, 16 and 17th, 2013

Place: Public Central Library, Stevenson-Hunt rooms

FREE ADMISSION

REFRESHMENTS

MUSIC

INFORMATION TABLES

ALL ARE WELCOME!

Sponsors: Council of Canadians (London Chapter), Heart-Links, King's Centre for Social Concern, Latin American-Canadian Solidarity Association (LACASA), Root Cellar Organic Cafe, and Seeds of Hope.

Day 1- Friday, November 15th, 6:00-10 pm Focus on Guatemala

• Introduction and analysis by Grahame Russell of Rights Action via Skype.
• London premiere of Gold Fever: feature film on the impact of open pit gold mining in Guatemala and the role of Canadian mining giant Goldcorp.

Discussion

Refreshment break

• Short film on the eviction of a Mayan peasant community in El Estor, Guatemala, and Defensora (trailer).
Presentation by professor Lorraine McNeil, Fanshawe College, about the pending court cases in Ontario against Hudbay Minerals, the company linked to the events depicted in the films.

Discussion

Day 2- Saturday, November 16th, 5:30- 9:00 pm Focus on Peru and Mexico

• Accountability Gap: a short film on the conflict in Durango, Mexico, with Canadian mining company Excellon. Presentation by Esla Arismendi on the work done by the NGO ProDesc and the Steelworkers of Canada;
• In the Heart of Conga: feature film on the Conga gold mine in Cajamarca, Peru;

Refreshment break

• Kañaris: shorts on Canadian mining company Candente in Lambayeque, Peru.

Discussion via Skype with Gustavo Gorretti, renowned Peruvian journalist, and the public.

Day 3- Sunday, November 17th, 1:00-5:00 pm Focus on Canada

• H2Oil: feature film on the impact of tar sands extraction on the Athabasca First Nations communities;
• Shattered Ground: feature film on hydraulic fracking in Canada and the US, narrated by David Suzuki.
Presentation on fracking by Gary Brown, environmentalist, and discussion with the public.

Refreshment break

• Panel discussion with CBC journalist Karin Wells, Jamie Kneen of Mining Watch Canada (TBC), a First Nations spokesperson (TBC) and a legal expert (TBC).

Q&A session

Acknowledgements and conclusion

For more information, go to:
        http://bit.ly/ETEfilmseries

or email: lacasa.london@gmail.com

Some resources:
-   Petitions: http://londoncouncilofcanadians.ca/ETEpetitions.pdf
-   Complete list: http://londoncouncilofcanadians.ca/ETEresources.pdf

-   Rights Action: http://www.rightsaction.org/

-   Mining Watch: http://www.miningwatch.ca/

-   Canadian Network on Corporate Accountability:
     http://cnca-rcrce.ca/

-   Council of Canadians: http://canadians.org/

-    Canadian Centre for Policy Alternatives:
     http://www.policyalternatives.ca

-   Amnesty International:
     www.amnesty.ca/open-for-justice

Urgent Warning: Our Bank Deposits Are No Longer Safe

As a result of recent changes to the rules governing the financial system operating throughout the G20 nations, a serious threat has arisen to the finances of individuals, families, and institutions that have entrusted their assets to major banks.  Here's the situation:  in case "systemically important" banks should fail, they are now authorized to take over the assets of their clients, including our deposits! This procedure is known as a "bail-in”—as distinguished from a "bail-out”—and it has already been implemented in Cyprus. This threat has been thoroughly documented by Ellen Hodgson Brown (author of two extraordinary books on our money system, The Web of Debt, and, just published, The Public Bank Solution), and by the Public Banking Institute, which she founded. For a vivid, compelling explanation of the crisis provided by the Institute, see this brief video:  http://www.youtube.com/watch?v=f-sHAwNfoL4 .  Given the vast, destabilizing involvement of major banks in derivatives gambling, about ten times the volume of the real economy as this video shows, major banks are constantly at risk of failing, and suddenly triggering a bail-in assault on our assets.  The peril is especially clear in Canada which legalized the bail-in procedure in its 2013 Federal Budget.  See: www.policyalternatives.ca/publications/monitor/depositors-beware .  But this bail-in agenda was mandated for all the G20 nations at their 2011 meeting, and it is likely to be reenforced by provisions of the CETA and TPP, the vast so-called “trade agreements” presently being negotiated.

Having been assured that the bail-in rescue plan is readily available in case they fail, banks are all the more likely to participate in speculative activity.  When driven to insolvency by their losses in derivatives gambling, the losing banks' first priority must be to pay off the winning banks ("counter parties") with whatever resources they can muster, now including their clients' assets—our financial resources.  The outrage of bail-ins includes the "super-priority status" of bank "counter parties" over our claims as bank clients.

The danger from bail-ins is especially high at the moment.  If the US government on October 17 defaults on its debt, the global financial system, with some $700 trillion of speculative derivatives churning around, may be thrown into the sort of chaos that would bring a major financial meltdown, perhaps surpassing that of 2008, with many bank failures resulting in bail-ins, bringing a massive shift of financial resources from the middle class to the already obscenely wealthy.  Even if we escape this immediate peril—perhaps only temporarily—the threat to our financial welfare from the banks' speculative excesses remains imminent.  Add to this the proclivity of private banks intentionally to engineer depressions for their own benefit (there is rich documentation available for this), and the dangers hanging over us become all the more imminent.

Ultimately it will require persistent political action to eliminate the grossly unjust bail-in threat—e.g., outlawing bail-ins altogether, developing public banking, restoring the Glass-Steagall Act (which separated investment banking—mostly derivatives gambling now—from depository banking and insurance).  But for the present, what personal actions might we take to protect ourselves?  We all need to be seeking alternatives to the mainline banks that we can no longer trust.  It may be possible for individuals and institutions to find safe haven for their financial resources by using credit unions. The risk probably differs from one credit union to another. We need to explore with each specific credit union the extent to which members' assets are entrusted to major banks—preferably not at all.  We need to consider becoming active credit union members, constantly vigilant regarding the safety of our collective resources.  We can no longer take it for granted that our bank deposits are safe.

George Crowell   October 7, 2013

georgecrowell@rogers.com