Category: Great Reset

When They Tell You Who They’re Replacing You With, Believe Them

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Would it not be easier*,
In that case, for the government
To dissolve the people
And elect another?

Buried in paragraph two of an IRCC release, employers no longer have to advertise a job, prove no qualified Canadian applied, or pay $1,000 for an LMIA — for a high-wage job offer to count toward permanent residence.

The Labour Market test is gone from the PR route, and verification moves out of ESDC, whose mandate is protecting Canadian workers, and into IRCC, whose mandate is selecting immigrants.

Still think the great replacement is a conspiracy?

 

On March 2 the PMO unveiled up to $25 million in scholarships for more than 220 Indian students, plus 300 funded research spots at the University of Toronto.

We Are All Tim Hortons Now

Gradually Then Suddenly Great Reset More Pavilions At Folkfest New Governor 63 Comments

Forget the US, at this point even a Russian invasion sounds pretty good.

As almost 300 mostly unidentified Canadians attend a trade mission in Mumbai, the High Commissioner of India to Canada predicts that this country will need 15 million immigrants to meet the workforce needs of a growing economy in the next 10 years.

“This is a new Canada and we are anticipating that things will happen fast. And Prime Minister (Mark) Carney, given his background as the governor of two banks, Bank of Canada, Bank of England, as well as Brookfield, his experience with investment with the economy, there is a lot of trust that he will be able to deliver on a lot of the things,” Dinesh Patnaik said in an interview on CPAC.

New country, incoming: PM Carney says in an interview with New York Times that his government will resume growing the population through mass immigration because that is “the nature of Canada”.

Funny Money

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I’ve never owned any crypto currency mainly because I don’t believe it can serve as money in any useful fashion. That’s not to say I’m a fan of fiat currencies, but if any fiat currency experienced this kind of volatility, you couldn’t transact with it either.

The token hovered below $83,000 after a swift crypto sell-off triggered roughly $696 million in liquidations over 24 hours, with long-positioned traders bearing almost all of the losses, according to Coinglass data.

The vast majority of the damage occurred over a 12-hour window, driven primarily by forced unwinds of Ether (ETH-USD) and bitcoin positions.

 

Shifting Deck Chairs On The Titanic

#WalkAway Gradually Then Suddenly Great Reset It's Probably Nothing New Governor 48 Comments

It’s odd that associate membership with the EU was never once mentioned during the last election, yet today it is being celebrated by the chattering classes as if it were the best thing since sliced bread.

European Commission President Ursula von der Leyen proposed Canada becoming the first associate member of the European Union.

Not everyone is cheerleading, however. But you have to go to lesser known publications to see any of that.

Smyth used stronger language in an August article in The Western Producer, writing that joining the EU would be an “unmitigated disaster.”

“The EU bans most of the technologies that have enabled Canadian farmers to become the most sustainable producers of crops anywhere on the planet,” Smyth wrote.

 

Enjoy The Decline

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Why Mark Carney’s Canada Isn’t the One You Live In (20 minutes) – Analysis highlighting the loss of 42,000 jobs and high unemployment rates across various regions despite government claims of growth, contrasted with the thriving US economy.

Meanwhile, in Banff… With Canada’s very economic future on the line, the prime minister is bringing his team to one of the most expensive and exclusive hotels to meet about affordability

Stiffer Upper Elbows, Mates

Art Of The Deal Great Reset New Governor 29 Comments

Our new friends and overlords in the EU will step up to take it off our hands, right?

Right?

President Donald Trump moved Tuesday to sharply escalate the trade war with Canada, seeking to block imports of some motorcycles, dairy products and alcohol.

Senior Trump administration officials said in a call with reporters that the move was in direct response to Canada’s latest retaliatory tariffs, which took effect at 12:01 a.m. Tuesday.

The ban on importing Canadian alcohol in particular closely mirrors bans on American alcohol that provinces across Canada put in place in early 2025. They were imposed after Trump introduced sweeping duties on Canada, America’s longtime northern ally.

The measures announced Tuesday were signed into law under Section 338 of the Tariff Act of 1930, documents posted to the White House website show. That trade law was never used until Trump implemented new tariffs on Canada under the statute in late August.

A senior Trump administration official told reporters on the call that the White House also completed “housekeeping” on tariffs already in place. Tariffs on cement, road salt and hospital pads were removed and replaced with duties on all-terrain vehicles, some cheeses and motorboats.

Joly gets emotional.

Canadian Exceptionalism

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When your currency starts to outpace the Japanese Yen in the race to get to the bottom of the dirty laundry pile, you just know that’s not a good outcome.

Net short Canadian dollar positions held by non-commercial accounts stood at $12.5 billion in the latest weekly data from the ‌Commodity Futures Trading Commission that was released on Friday….

It was the ​highest net short position for a second straight week of any currency traded on the Chicago Mercantile Exchange and the largest in the loonie since December 2024.

“Tensions escalated after Carney’s Liberal government threatened Detroit automakers…”

Great Reset New Governor 15 Comments

Politico: Inside the collapse of the Canada-US trade deal

“It was an awesome meeting,” Pete Hoekstra, U.S. ambassador to Canada, recently told POLITICO.

It went so well that President Donald Trump invited Carney and his delegation back into the Oval Office to show off his White House ballroom plans, even asking the prime minister for advice on the design. The Canadians were then ushered into a nearby office and offered Trump-branded memorabilia.

Sixteen days later, the talks collapsed.

Private Credit Woes

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Ron Butler asks the tough question: are the problems in Canada’s private credit market an indication of a financial contagion?

We have Easy Financial. The stock price fell 50% in one day. Is this the private credit contagion?

Um, they’re restating earnings from over a year ago. What? What? What? What sense does that make?

I think something is wrong because you don’t want to see the CEO of a independent financial lending organization both quit within the same two year period.

Ones And Zeroes

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Money has to be the most marketable commodity, not lines of code on a hard drive. Investors in the latter are finding that out the hard way.

Bitcoin is now down 24% this year and remains roughly 47% below its October all-time high.

The largest failure so far this year has been Blockfills, a midsize prime broker that halted deposits and withdrawals earlier this month amid the decline in bitcoin prices.

 

More Pavilions At Folkfest

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All cultures are equal, except yours.

When Stephen Taylor read a CBC Nova Scotia story about the imminent closure of Parks Canada’s Canadian Register of Historic Places website, he knew he had to act.

The register is a national searchable database of historic places recognized by federal, provincial, territorial and local governments.

It contains about 13,500 listings and is slated for decommissioning this spring.

“Reading into it… I felt it would be a tragedy to lose that resource,” Taylor said.

“I felt there was a huge urgency to preserve it, ironically preserving our history, even though that was the point of the original website.”

As a partner and chief technical officer at Shift Media Strategies, Toronto-based Taylor knows a thing or two about web technologies.

That weekend, Taylor used artificial intelligence tools to download all of the data on the old Parks Canada site and rebuild it using modern web standards.

Pretty sure he’ll be arrested.

If Wishes Were Mortgages…

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Mortgage broker Ron Butler goes off on the concept of “blanket appraisals” in the Canadian mortgage market. Basically, they’re a form of fraud that allows lenders to pretend that mortgages on their balance sheets are worth much more than they actually are.

“…I bought it for a million… My lender says it’s only worth 820 and I don’t know what to do. Oh, don’t worry. Don’t worry. We have this… uh, developer loan bank. Yeah. No, no, we can get it done. Don’t worry…”

Strongest Of The Weakest

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As economist Daniel Lacalle points out, the rising dollar price of gold does not mean the US dollar is on the way out. Things are a bit more complicated than that in a fiat currency world with no exit ramps.

The same sources that show soaring gold demand also show that there is no true “dedollarization” in the sense of a fiat‑to‑fiat substitution. This also makes sense. The US dollar is the world’s strongest weak currency because it has a higher level of liquidity, more independent institutions, and better legal and investor security than any alternative. The US dollar is losing its place as a global reserve to gold but not losing its position relative to the euro, yen, pound, or yuan.

IMF COFER figures show that the US dollar’s share of allocated FX reserves remains at 59.6%, and when adjusted for exchange‑rate moves, the IMF itself concludes that the dollar’s share has been broadly stable, with recent declines explained mostly by valuation effects, not active selling. The euro, at 20.3%, is not even close to being a contender.

Golden Opportunity?

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Gold (and silver’s) near meteoric rise in terms of dollar price over the past few months periodically rekindles interest in “monetizing” the gold stock that sits in the vaults of a number of central banks, in the belief that this will usher in a financial bonanza. In my most recent Substack article, I demonstrate why such a move won’t do anything of the sort.

…the proposal that the Treasury can unlock over a trillion dollars of capital, and borrow against it, by correcting a bookkeeping error…might work if the Treasury had not undertaken to rack up $36 trillion in debt in the period since 1973, but that’s clearly not the case today. Simply put, the gold stock has already been borrowed against. Creditors have lent this sum of money to the US government with the knowledge that the gold stock is already implicitly underpinning the debt, even though today it can only underpin a small portion of it.

There Was Significant Shrinkage…

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More evidence that the marginal consumer is tapped out as shrinking economies continue to experience declining demand for commodities like oil. Is the concept of an oil pipeline from Alberta to coastal waters even viable at this point?

Even with a recent decision by OPEC to hold production rates steady through the first quarter, the International Energy Agency said last week that it now expects 2026’s oil glut to reach 3.8 million barrels per day.

On the water, crude tankers at sea are now holding more than 1 billion barrels — a figure that has steadily risen over the past few months as sellers have had a harder time finding buyers willing to take the oil.

Money For Nothing

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That’s 600 billion, with a ‘B’. How much of the melt-up was driven by leverage, and who’s left holding the bag for those loans?

After topping $126,000 in October, Bitcoin has fallen sharply, briefly wiping out its 2025 gains before stabilizing on Monday.

With gold and stocks near all-time highs, Bitcoin is the “tip of the risk-assets iceberg and melting,” said Mike McGlone, senior commodity strategist at Bloomberg Intelligence. “I expect Bitcoin and most cryptos to keep falling.”

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