New world order, new wealth fund, same old Liberals counting on Canadians not asking questions

Added: 2026-05-13

[00:00:00]François-Philippe Champagne, and why we need a sovereign wealth fund. Listen to this is is absolutely nuanced nonsense.

[00:00:09]who may want, you know, it's not if you and I would wanted to invest in a pipeline or invest in a project of national interest, it's pretty difficult as retail investors to join in. Now you'll have the possibility, and if you look at the international press, they said this is Canada's best in a way. It is a sovereign wealth fund, but in a very Canadian way you're allowing citizens to be able to join us in building. This is great. I mean, we're we're the only in the world which allows citizen people to be able to join in if they so wish, and and and benefit from the growth that we're going to see in the Canadian economy. That's good. The only thing I found interesting there is Britney Spears gets off on a DUI. That was at the bottom of the headline.

[00:00:53]Because excuse [clears throat] me, but >> a joint kind of thing. Excuse me, François-Philippe Champagne, have you heard the Toronto Stock Exchange?

[00:01:00]Enbridge? Canadians can invest in a pipeline right now. You can just open up account on Wealthsimple for instance, and invest in a pipeline right now. You don't need a sovereign debt fund to invest in a pipeline right now.

[00:01:14]That's what free enterprise is all about. And also, why would anybody invest in a sovereign debt fund where you don't even have like the when you were asked about it, like what what's the return looking like? What what's going to be invested in? Well, we don't know those things yet, you know, we're still working on it. We're just the And again, the next question asked, when is the government ever invest in anything that's turned out to be more profitable than the capital markets?

[00:01:39]The answer starts with an N.

[00:01:42]Never.

[00:01:46]As [snorts] Ronald Reagan would say, when the government says, "I'm here to help." run.

[00:01:51]And but François-Philippe Champagne says, "Canada, we give you the opportunity to invest in this uh boondoggle, so that you can give your money to the to me, and then I can waste it like you would not believe. But I What is it? We don't know. We talked to my mother, and my mother says, you know, it's going to be good.

[00:02:09]You've been practicing that, haven't you? I can hear.

[00:02:12]>> [laughter] [gasps] >> I've been listening to you.

[00:02:17]It's like ridiculous. Like he it's like the reporter, like a reporter there, can you please let us go to these things because like it's ridiculous that that the sausage eaters there are just like when they say, "Can Can Can Can Can Canadians will get their first opportunity to invest in things like this?"

[00:02:34]Somebody should have said, "You mean like the Toronto Stock Exchange, you uh You know that has regulations like the SEC that governs it?" And then the all the funds that you guys create, the Canadian Infrastructure Bank, and all these other funds, which have no transparency and accountability. Have we got an answer on the Chinese investment, I mean, the investment in Chinese ferries yet? No.

[00:02:56]So we're going to take all these funds off out of the like the budget of Canada and put them into these funds, pay a banker millions of dollars to manage them.

[00:03:07]Like Canadian Infrastructure Bank is full of McKinsey guys.

[00:03:10]And then they're not doing anything other than taking bonuses and large salaries from them and pushing paper around on the desk.

[00:03:19]That's what we want to do?

[00:03:20]And won't answer simple questions.

[00:03:22]That's that's what the this uh sovereign debt fund will be, another one of those things.

[00:03:29]But isn't it amazing that you could be the Minister of Finance of a G7 country and not know about stock markets, you know, not know about the history of joint stock enterprises and so on, like.

[00:03:45]Surely, I mean, has he not read for starters for starters, has he not read values? I think it's he mentions that his this brief history of economics in that book.

[00:03:55]That suggests that he hasn't read that book, which is that's very dangerous uh ice to be walking on, isn't it?

[00:04:04]And then uh this one here, I we've got to play it again cuz I we need to hear this like several times.

[00:04:10]This is CUSMA is so important to Canada. We've said it on the show all the time. CUSMA is so important, like, you know, close to 80% of our trade goes south of the border.

[00:04:19]Close to 80% of our trade, and the world's largest economy, the world's best consumer, and we're linked geography. Like I mean, we can truck stuff there. We don't have to use ships and that.

[00:04:31]And uh listen to this response from Mark Carney on a on a on the on uh getting CUSMA CUSMA deal done, renewed.

[00:04:40]You know, a lot of countries rushed into deals with the US.

[00:04:43]>> Mhm. Uh they weren't really worth the paper they were written on. So a lot of buyers Well, you can well, I'll I'll put it back to you and tell me which country you've bumped into that's pleased with their deal um with the US.

[00:04:58]You don't think there are any?

[00:05:00]Well, certainly not in private.

[00:05:09]He needs to stop with the leprechaun grin, doesn't he?

[00:05:12]Yeah.

[00:05:13]That is that's not doing him any favors.

[00:05:15]That smug grin is just not doing it.

[00:05:18]No. It's not a good idea to do that. But also like just that question there is like, "Oh, I'll ask you a question." It's like, "I'll just not answer the question."

[00:05:29]That's what he should say. "No, um I'm not going to answer that question.

[00:05:32]Here's a distraction."

[00:05:34]And she's just sat there like, "What did you say, my lord?

[00:05:38]I'm lost in your eyes."

[00:05:41]I'm lost in something.

[00:05:43]And it could be the pile of steaming stuff that's piling up beneath your feet there. Um [snorts] By the way, I just we're talking about François-Philippe Champagne. I feel like I'm I need to take every possible opportunity because I don't know if it's just me, but it feels like this is completely fallen off the edge of the universe, and nobody ever talks about this anymore.

[00:06:03]Do you remember that scandal five or six years ago in which uh Phil uh Champagne was found to have got a loan from the Bank of China to buy expensive apartments in London that he was renting out to make lots of money.

[00:06:18]Do you remember that? Remember that scandal, anyone?

[00:06:21]No.

[00:06:22]That was such a That was like a giga scandal.

[00:06:25]Somehow that just disappeared. He he changed the he went with a different bank.

[00:06:31]Well, it's just I just wanted to sort of that this is like a prolapse of very little, but I just wanted to shove it in there. Let's not forget that he got a loan from effectively the Chinese Communist Party state-owned bank to buy apartments in London, which he still owns.

[00:06:51]Just thought I'd chuck that in there.

[00:06:53]Let's Let's not forget that, you know.

[00:06:54]>> Let's Let's not forget the interview we did with Catherine Swift when we asked, "Why is Why is the Liberals so friendly with China?"

[00:07:02]And her response was, "Cuz they make a lot of money off of it. A lot of the Liberal MPs make a lot of money off the Chinese."

[00:07:10]Yeah.

[00:07:12]That is By the way, I just want to say he was in he was living in London when he got those mortgage mortgages, right?

[00:07:17]I've never heard of anyone as you as you may be able to tell, I've spent some time in England. I have never heard of anyone in the history of my life that's ever got a mortgage from the Bank of China in England.

[00:07:30]That's just not a thing that happens.

[00:07:32]You know who else borrowed money from the Bank of China? From the Communist Bank of China. You know who else borrowed money from the Communist Bank of China?

[00:07:39]Yeah, they've got that in common, haven't they? Maybe that's what they bonded over.

[00:07:43]>> [clears throat] >> That would be the big boss himself, Mark Carney. Yeah.

[00:07:47]Over a quarter of a billion dollars, Mark Carney as the chair of Brookfield borrowed it from the Bank of China, from the Communist Bank of China. And that was a year before he Well, less than a year before he took over the reins of as the Prime Minister of Canada. He borrowed a quarter over a quarter of a billion dollars from the Communist Bank of China. You would say that would be the lender of last resort, and that's where the uh the properties in uh uh Shanghai in that in commercial real estate in China not doing so well.

[00:08:19]>> [snorts] >> And this is the um the economy that Mark Carney is saying that we need to join and build this new world order out of.

[00:08:31]And 15 years ago Europe's economy was larger than America's. Now it's at 2/3 the size.

[00:08:38]Let's remember some of the biggest mistakes that that the European Union and some of the countries made there. One is net zero, obviously. Migration was another one, but Germany especially blew up its nuclear power plants, like blew them up, like destroyed them.

[00:08:55]And then said that they they're going to go all wind and solar.

[00:09:00]And then they're begging the Russians for oil and gas.

[00:09:03]Literally begging the Russians. And Trump warned them in his first presidency, said that was a mistake. And they just laughed at him. Angela Merkel or Marco or whatever, Angela Mercola just laughed at him. She was a big bully back then, remember that? That That was a different Trump, right? Where he was in that room there eh by the by Angela.

[00:09:22]She's got to go down in history.

[00:09:23]>> looks like the um she looks like the live action version of Barney Rubble from The Simpsons. I would say >> Absolutely not. She does. Like she's like looking down on him.

[00:09:35]Yeah, I mean, they humiliate themselves.

[00:09:36]But that's one of, you know, [snorts] again, here I go talking about trusting institutions.

[00:09:42]I must say at that point in history, if you were paying attention, and you [snorts] saw all that happen in Europe, particularly with Angela Merkel, who was responsible for that, completely neglected the German military, allowed it just to rot away into nothing.

[00:09:59]Allowed her economy her country's economy to get close to Russia become dependent on Russia some would say.

[00:10:05]The brain dead migration policies of 2015 and on.

[00:10:09]All these things associated with Angela Merkel.

[00:10:12]I can remember all that going on and I was just thinking again we go back to faith institutions.

[00:10:17]How could you have faith in people this stupid?

[00:10:20]You know I was and I was looking at I was like what the hell? While the whole world tripped over themselves to to praise Angela Merkel especially for that that moment where she like appeared to be lecturing Donald Trump when he was sitting down and she was standing up there's a famous photograph isn't there?

[00:10:36]And what's his name the Shinzo Abe I think is like Trump's only ally in that photograph isn't it? It's quite a It's quite an amazing picture.

[00:10:45]But yeah I just I just remember thinking like how could you have faith in people this stupid this incompetent?

[00:10:52]And it remains it remains the case isn't it that like random people completely random people with no expertise such as myself back then whenever that was 2015 they were on the ball more so than the entire leadership class of the western world.

[00:11:11]How do you have trust in people that bad? Whose whose you know resumes are so bad who who's who've just failed at everything?

[00:11:20]And you know don't forget Ursula von der Leyen part of that whole group you know in Germany as defense minister in Germany.

[00:11:28]I just I struggle I struggle to understand why anybody has faith in these institutions still. I mean I can see why maybe Mark Carney would because Mark Carney was a member of that failed leadership class. But why does anybody else? Do they just not Do they not even do the the sort of minimum amount of due diligence and just read about these people and what they actually achieved or failed to achieve?

[00:11:53]Do you want to put that picture up of our friend Angela and Donald J?

[00:11:57]Do you have it? You see it?

[00:12:02]I don't know I just thought if we had it we could put it up there cuz it is kind of like a It's a great It's a great photo. I'm I'm looking at it now I can see it.

[00:12:10]Macron's little uh profile there just about.

[00:12:14]Shinzo Abe is the hero of that photograph isn't it?

[00:12:19]We love a bit of Shinzo.

[00:12:25]It's um Like >> [snorts] >> what they've done to their economy >> [clears throat and cough] >> economies. I mean when you have like people like Mercedes-Benz leaving Germany to go build elsewhere because uh Germany's power is way too expensive. You know that they're just a mess right?

[00:12:41]>> [snorts] >> An absolute mess.

[00:12:47]Anyway any chance?

[00:12:51]It's the photo they don't want you to see.

[00:12:56]John Bolton there as well.

[00:12:58]We got it like a doom doom doom doom or like the Like it's getting too long.

[00:13:06]Yay there it is I just about.

[00:13:10]There you go. Look at Angela's power posture there.

[00:13:14]Oh.

[00:13:16]Worked out well.

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