Dear Editor:

The monetarist mucka-mucks from around the globe convened in Washington, D.C. a couple of weeks ago at the International Monetary Fund (IMF) meetings to discuss and determine what policy (read shell game bamboozle) will be presented at the G-20 summit next month.

The gambling casino that passes for the western world’s financial system is totally insolvent.

The over two quadrillion dollar (many times more than the entire global GDP) bubble in useless paper derivatives can no longer be propped up with more money printing bailouts.

When this bubble bursts it will make the 2007 so-called sub-prime mortgage meltdown look like a garden party.

Another ploy is needed to further stave off this imminent collapse.

So through yet another acronym in the alphabet soup of banking acronyms, the FSB, the Financial Stability Board, headed by Mark Carney, Governor of the Bank of England, the “ bail-in” plan, already used to loot the national economy of Cyprus, is operational and ready to go.

This strategy allows for another acronym, the GSIFIs, the ‘globally systemically important financial institutions’ to be salvaged in the event of failure.

This is done by confiscating pension funds, insurance policies and even personal un-secured holdings.

This policy can be found buried on page 144-145 of Canada’s recent budget Economic Action Plan 2013.

If you are fortunate enough to have over $100,000 in certain deposits, you might want to talk to your bank manager to see where you stand.

It would appear that the leadership of the western economies in Europe, North America and Japan, and the citizenry especially here in Canada and the United States, are content to continue with these policies of austerity and destruction in order to maintain the City of London and their Wall Street allies’ banking system of unbridled speculation.

There exists an alternative.

Countries representing nearly half of the world’s land mass and half of the world’s population, have aligned around the BRICS nations of Brazil, Russia, India, China and South Africa. The new financial mechanisms, the New Development Bank (NDB), initially capitalized at $50 billion in July, but is gaining enthusiastic additional contributing partners rapidly.

This partnership is designed to fund infrastructure projects within these participating and other nations.

Also established is a Contingent Reserve Arrangement (CRA), with $100 billion to help nations deal with capital flight and other forms of financial warfare.

In other words, this new breed of leadership has emerged at a time when humankind faces certainly one of the most perilous and decisive moments in history.

This financial situation and other global crises has prompted my decision to run as an independent candidate in the federal riding of South Okanagan West Kootenay.

Canadians must decide whether our country continues down the path leading to despair and assuredly global war or join in a fight for global development not global destruction, for peace through progress.

Brian Gray

Penticton, B.C.