CBR Responds to Globe and Mail ‘Infrastructure Bank’ Article from Calgary Mayor

Jan 25th, 2017 – Hon. Paul Hellyer (Canadian Bank

Reformers Spokesperson) comments on Globe and Mail article by Calgary mayor Naheed Nenshi

“An opinion piece in today’s Report on Business entitled “Canada’s Infrastructure Bank – Calgary’s Built for This” by Naheed Nenshi, Calgary’s very popular mayor, caught my eye. He is looking for investment and diversity. Furthermore, he thinks the infrastructure bank could help Calgary attract the capital to “get us where we need to go on massive investments in public transit and waste-water infrastructure, for example.” The same could be said for just about every large city in Canada and the World.
Mayor Nenshi is too young to know that Canada doesn’t need a new infrastructure bank. We already have one. It is called the Bank of Canada, which is owned 100% by the Canadian people. This bank financed all of the infrastructure needed for Canada to play a significant role in World War II, and after the war for vast projects including the St. Lawrence Seaway and the Trans-Canada Highway, without incurring debt.
The Bank of Canada can come to the rescue again to meet our needs, both for infrastructure and budget shortfall. The government of Canada should build zero-point energy factories in Calgary and other cities in every oil-producing province. (Zero-point energy is the energy that exists everywhere in the universe and doesn’t have to be replenished.) This alternative would help wean them off their oil economies in favour of the clean energy which is the only hope of rescuing the planet before it is too late.”
Hon. Paul Hellyer, Jan 25, 2017


Victoria Grant interviews Canadian Bank Reformer’s spokesman the Hon. Paul Hellyer on the role of the Bank of Canada and asks him to comment on the ‘Infrastructure Bank’ being proposed by the Liberal government.

• What is the Bank of Canada anyway?
• What is this ‘Infrastructure Bank” I am hearing in the news?