First Nations could get access to millions of investment dollars

This is a recipe for disaster if something isn't done about accountability on reserves. The same leaders who pay themselves six figure salaries while their people starve, are going to incur huge debts for their personal gain.

When the Natives lose money the govt will just bail them out, so they can't lose. If the scheme doesn't work, it's because the evil white man tricked them into it. If it does, it's because Natives are brilliant capitalists.

What do the "Chiefs" have to say about this?

If we can somehow get secure investment into reserves, and have a system in place or a watchdog to watch for mispropriation of funds, this could be a good thing for many First Nations.

KA CHING!!!

First Nations get access, assuming all that money makes it past the chiefs.

But if you put some kind of oversight in place, that's just the white man being all patriarichal again.

That comment really seems mean-spirited and unnecessary.

The devil is in the details. Let's face it, the financial market is full of opportunists looking to victimize investments in order to turn a quick buck. Investors may be more interested in seeing impoverished First Nations communities bankrupted and forced to sell off land and mineral rights than receiving any kind of long-term stable return from an infrastructure Bond. There need to be safeguards in place.

That comment really seems mean-spirited and unnecessary.

The devil is in the details. Let's face it, the financial market is full of opportunists looking to victimize investments in order to turn a quick buck. Investors may be more interested in seeing impoverished First Nations communities bankrupted and forced to sell off land and mineral rights than receiving any kind of long-term stable return from an infrastructure Bond. There need to be safeguards in place.

Does this scheme involve the natives being able to sell of land and mineral rights? I doubt it, and if that ever happened, the hue and cry about the racist white man taking away Indian land would be deafening.

The safe guards would have to work both ways, ie the natives actually need to put up something to lose. I can't see what that would be, can't lose their land, can't lose their welfare payments. So it seems like a no-risk proposition for them, the govt will just bail them out if things go bad, but let them keep the profits while still paying guilt geld to the natives. Kinda like Newfoundland, where they get the transfer payments of a poor province while raking in the oil royalties. It's nice to be victim in Canada.

The article says:

So as I understand it yes, the scheme does involve them putting up their assets as collateral.

I also assume that these bonds will work like a normal financial instrument, where the money raised from the bond sales is placed into an investment fund that is managed by a major financial institution like RBC.

That says nothing about putting up Native land as collateral - it's not allowed at the moment. And there's no way the natives would go for that. They are putting up other revenue sources as collateral. But you just know, if they get in trouble and lose the income from those sources, they'll just go whining to the govt for more money. They already expect the govt to build the free houses, are constantly complaining the govt doesn't give them enough money. You really think if they have less money coming in because some corrupt chief screwed up the deal, they won't just run to the govt screaming how hard done by they are, and how we owe them?

Oops, sorry. Cropped the quote a little short. It continues:

So yes you are right, not the land and rights per se, but the revenue from it is at stake, which could essentially deprive them of any opportunity to benefit from it.

As for the rest of your quote, you should accept that they are ALREADY hard done by and We DO owe them. You talk about how they "expect" free housing without giving any thought to the fact that when we conquered them we PROMISED them free housing and other things IN WRITING in exchange for their submission and surrender.

And you also seem reluctant to accept that corruption and poverty and marginalization are related and endemic to the environment that we put First nations people into for hundreds of years. This isn't some ancient grievance I'm talking about here, I'm talking about a deliberate subjugation program that was active right up until just a few decades ago. The last residential schools didn't close until the 1970s. Natives weren't allowed to vote until 1960. Those weren't bureaucratic oversights, that was deliberate policy and the consequences of that policy remain.


Basically, what we've done is burned down someone's home, destroyed all their worldly possessions, and then said "well, eventually I put the fire out, so I guess that means we're even and I don't owe you anything. Now get a job and start replacing all your stuff, you look like a bum."

Further: you should accept that one of the primary reasons that your community isn't in as bad of a shape as First nations communities is because the Federal and Provincial governments have continually funded and invested in your infrastructure, your local businesses, your schools, etc. The "freebies" that FN communities have received have always been sub-standard and would be in blatant violation of any public health and safety code anywhere in Canada except Reservations where the laws do not apply: houses filled with asbestos and lead paint, drinking water intakes that are downstream from raw sewage outlets, communities built on floodplains, communities that have been under PERMANENT boil-water advisory and for whom water treatment "programs" are simply shipments of clorox bottles to an untrained local, who dumps it into the water reservoir while openly admitting he has no idea what hes doing. Back in the day the reason for doing nothing was that we don't give a shit. Nowadays we say that we do give a shit, but fixing the problem costs money and its more important to keep taxes low, etc. No government would DARE do anything like this to anybody else except the FN.

So natives get to be special Canadians and get free housing for perpetuity, while having all the same rights as other Canadians? In BC, we're negotiating land claims. I'm not aware of one treaty band in BC where they were promised housing. Do we have to keep paying for ever for conquering them, or can we just invite them to be regular Canadians like everybody else?

Yep, at one time we forced them on to reserves. But no longer. Natives have all the rights of other Canadians, have had for a some time. They can change their environment, move off reserve, or they can do something about conditions on reserves if they want. You see seem to see them as perpetual victims, when they haven't been for quite a few years now. Don't you see that it's your attitude that helps to keep them dependent?

My community pays taxes, same as yours. When natives start paying taxes, they'll get more back from govt as well. But in terms of spending, the govt spends more per native than they do per Canadian. It just all disappears down the rabbit hole is all.

I'm all for giving Natives a hand up, as I am for giving any poor Canadian the help they need. I'm not for race based programs or creating permanent victims and dependents tho. It's one of the reasons I harp on about higher wages for the bottom and more taxes for the top. But applied to everybody regardless of race. Natives need to move on, become full Canadians if they ever want to get out of the trap they're in. I'd be all for reaching out a hand to help them do that, but not for just keeping then dependent on the rez. Unfortunately too many people, native and non-native have a vested interest in keeping the status quo - good living for them. And unfortunately too many natives fall for the victim and the white man owes us bullshit to wake up and get off their asses.

What are their Chiefs doing about it then?

Simple question but I suppose one would rather write five paragraphs about the evils of the 'white man', the blame game and not how First Nations can take responsibility for their own actions and......pardon me 'Leadership'.

Lots of First Nations in B.C are successful with good partnerships with the government. Lots of prosperous reserves around Canada.It is unfortunate that some are as you described but they can do more and learn a lesson from successful ones instead of whining and complaining about the government and 'stolen land'. I don't OWE anybody anything.