The demented and patriotic mind set of Royal Bank CEO Gordon Nixon: A strong Canadian dollar increases competitiveness, sovereignty and quality of life

The demented and patriotic mind set of Royal Bank CEO Gordon Nixon:
A strong Canadian dollar increases competitiveness, sovereignty and quality of life

Nipawin - Thursday, May 9, 2002
by: Mario deSantis

"With common sense we are neither gods nor demented"

John Ralston Saul

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% of the Gross Domestic Product (GDP).

need
stronger
dollar
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 favourable foreign trade of goods while at the same time experiencing the same harmful proportion of foreign debt to GDP as the United States.

weak
dollar
not a
personal
problem
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

limits
Canadian
company
expansion

"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."

power
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.

root
I am asking, what is at the root of the weak Canadian dollar?

USA
Liberals
business
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

The demented and patriotic mind set of Royal Bank CEO Gordon Nixon: A strong Canadian dollar increases competitiveness, sovereignty and quality of life Nipawin - Thursday, May 9, 2002 by: Mario deSantis `"With common sense we are neither gods nor demented"` John Ralston Saul 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% of the Gross Domestic Product (GDP).

need stronger dollar	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 favourable foreign trade of goods while at the same time experiencing the same harmful proportion of foreign debt to GDP as the United States.

weak dollar not a personal problem	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
limits Canadian company expansion	`"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."`

power	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.

root	I am asking, what is at the root of the weak Canadian dollar?

USA Liberals business	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