Carney announces creation of Canada's first sovereign wealth fund - Will "co fund" projects the gov't likes for partners they approve of

[CdnFox]

Carney announces creation of Canada's first sovereign wealth fund | CBC News

So here's the short version

He's going to give $25 billion of your tax dollars into this fund. Then he's going to hope that other people like banks and so ones so forth and pension funds and individuals put money into their fund as well

Then he will decide if a project, In his opinion, is in the national interest, whether it's windmills or a lesbian dance University or a battery Factory or A manufactured home facility owned by a Brookfield subsidy.

if so he will 'invest' the money into that venture to make it "easier" for his buddies that private entity to  proceed with that project, which means our money will fund projects that WOULD have been funded by the private sector entirely if only they got useless regulation and taxes out of the way in the first place 

This is basically a filter. This will guarantee that groups and projects he's not fond of don't happen while friendly organizations and projects he likes and can tap for money proceed

[Moonbox]

Because Confux says so....?

🤣

[herbie]

Errors out in the opening sentence. It's not "your" tax dollars, it's the govt's. They took it from you so you lost any claim.

Errors out again in the second sentence, claiming "he" (Carney) will decide where it is spent. 

The common lack of basic understanding on how things work is especially prevalent among Tories that merely mimic the jargon of others without queation merely because it aligns with their preconceptions.

[CdnFox]

2 hours ago, Moonbox said:

Because Confux says so....?

🤣

LOL and not only can you not refute any of it, you're SOOOO butt hurt that all you have is to make fun of my nickname here  

LOL you are such a broken little man and obviously you know i' m right based on your response   At least you didn't take the time to prove i'm right this time  

50 minutes ago, herbie said:

Errors out in the opening sentence. It's not "your" tax dollars, it's the govt's. They took it from you so you lost any claim.

Errors out again in the second sentence, claiming "he" (Carney) will decide where it is spent. 

 

No the tax dollars are yours.  The gov't does not "own" the taxes it collects, it's job it to manage them. 

Of course, i forgot for a moment you're an actual communist so i can see where you'd get confused  

Quote

The common lack of basic understanding on how things work is especially prevalent among Tories that merely mimic the jargon of others without queation merely because it aligns with their preconceptions.

LOL well you might want to save that criticism's for when you're right, and not wrong.  

[Legato]

2 hours ago, Moonbox said:

Because Confux says so....?

🤣

Carney said so.

[Moonbox]

37 minutes ago, CdnFox said:

LOL and not only can you not refute any of it, you're SOOOO butt hurt that all you have is to make fun of my nickname here  

LOL you are such a broken little man and obviously you know i' m right based on your response   At least you didn't take the time to prove i'm right this time  

No the tax dollars are yours.  The gov't does not "own" the taxes it collects, it's job it to manage them. 

Of course, i forgot for a moment you're an actual communist so i can see where you'd get confused  

LOL well you might want to save that criticism's for when you're right, and not wrong.  

One-liner predictably results in emotional meltdown.  The dumb goldfish always bites the hook. 🤡👍

[Goddess]

Not many countries have SWFunds.  China, Saudi Arabia, Norway, Quatar, Kuwait are a few of them.

Their SWFunds generally do NOT invest in their own countries.  That's the norm.

One company all of the above SWFunds all invest in:  Brookfield.

Carney says a Canadian SWFund would invest in Canada.  I suspect your taxpayer dollars will be going to......Brookfield.  And China.

Liberals, including under Carney's "advisement" have a really, really bad track record of investing with taxpayer money.  They've lost billions of dollars in the last decade.  I wouldn't trust them to invest in a lemonade stand.  But I think all the pom-pom wavers should invest every last penny they have in it.

 

[CdnFox]

46 minutes ago, Legato said:

Carney said so.

Don't confuse that man with facts! We've already blown through all the GoFundMe money for his therapist....

31 minutes ago, Moonbox said:

One-liner predictably results in emotional meltdown. 

You have to be 34 different levels of stupid To think that someone pointing and laughing at you because you've been a complete dolt is an emotional meltdown  

But typical you, can't make a rebuttal so you cry like a baby and accuse others of what you're doing yourself

[Legato]

1 minute ago, CdnFox said:

Don't confuse that man with facts! We've already blown through all the GoFundMe money for his therapist....

well I did donate a well seasoned Turnip.

[eyeball]

We should have hired Norway to build our SWF for us with our oil and gas resources decades ago.

I'm not adverse to starting a SWF on the basis of royalties from other natural resources but not this way.

[suds]

So how does this new wealth fund work exactly?  Will the government be asking Canadians and business to invest in the fund and get paid interest? If that's the case it's just simply another form of borrowing money.  Or what other way is there when the government has run continuous deficits for the last 11 years?

Edited April 27 by suds

[Goddess]

47 minutes ago, suds said:

it's just simply another form of borrowing money.

Exactly.

We're borrowing or printing the $25 billion for it.  It's not a Sovereign Wealth Fund.  It's a Sovereign Debt Fund.

I have a Sovereign Wealth Fund, too.  It's called Visa.

If I had bottomless contempt for the intelligence level of the average Canadian, I would promise them a high-speed train and a sovereign wealth fund.

Actually, I think that was an episode on The Simpsons, wasn't it?

[Goddess]

Why didn't they just tweak the Canada Infrastructure Bank?

Needed another slush fund, is my guess.

[Goddess]

 

 

[CdnFox]

1 hour ago, Legato said:

well I did donate a well seasoned Turnip.

I know, Robosmith actually paid a heap for it and that helped but there's only so much mental therapy you can buy with root vegetables! 

1 hour ago, eyeball said:

We should have hired Norway to build our SWF for us with our oil and gas resources decades ago.

I'm not adverse to starting a SWF on the basis of royalties from other natural resources but not this way.

Their fund doesn't really invest in norway as i understand it, it invests elsewhere

[Goddess]

2 hours ago, eyeball said:

I'm not adverse to starting a SWF on the basis of royalties from other natural resources but not this way.

This non-partisan group has been advocating for a SWF for quite a while and their suggestions for how to do in light of Canada's bad economy, is here:

Turn Canada’s Resources into Lasting Wealth

 

See what you think.

[suds]

25 minutes ago, Goddess said:

Exactly.

We're borrowing or printing the $25 billion for it.  It's not a Sovereign Wealth Fund.  It's a Sovereign Debt Fund.

I have a Sovereign Wealth Fund, too.  It's called Visa.

If I had bottomless contempt for the intelligence level of the average Canadian, I would promise them a high-speed train and a sovereign wealth fund.

Actually, I think that was an episode on The Simpsons, wasn't it?

So basically, tax payers are going to be paying for this one way or another. Norway, and Kuwait for example, do it the proper way by funding it with a percentage or amount taken from oil and gas export revenues. So it's an SDF and not an SWF.  I sort of figured something like that.

[Goddess]

7 minutes ago, suds said:

Norway, and Kuwait for example, do it the proper way

You're correct.  It's nothing like Norway's.  I was surprised he compared it to their's.

7 minutes ago, suds said:

So it's an SDF and not an SWF.  I sort of figured something like that.

What I get from the explanations given so far, which are quite vague - it's like a protection racket.

It turns the federal government into a mafia that provinces and companies will have to transfer equity to in order to get "regulatory efficiency".

I get that from Carney's explanation:

Quote

“Where there is at the heart of all these projects, including resources, provincial jurisdiction; where the federal government is catalyzing, helping to make the project happen through a tax or other incentive - regulatory support - and at the core there is a commercial business making a profit,

Canada has crossed a lot of lines very quickly here.

Edited April 27 by Goddess

[suds]

Norway's SWF as of April 2026 has $2 Trillion in assets. Can you believe that?

[Goddess]

3 minutes ago, Goddess said:

“Where there is at the heart of all these projects, including resources, provincial jurisdiction; where the federal government is catalyzing, helping to make the project happen through a tax or other incentive - regulatory support - and at the core there is a commercial business making a profit,

Effective regulation is not a privilege that we bargain with the government for.

It's something we expect, and are entitled to, as citizens. 

[CdnFox]

56 minutes ago, Goddess said:

Why didn't they just tweak the Canada Infrastructure Bank?

Needed another slush fund, is my guess.

This is exactly it. The more bureaucracy and more slush funds you got the harder it is to hold any of them accountable.

And by creating this as a separate entity it doesn't look like the government itself is borrowing the 25 billion dollars exactly

We're just getting screwed in other way. He's no different than Trudeau, he's just slightly more savvy about how to make things look

[Goddess]

Using GIC's as an example, they are general well run.  What is critical to their success is their independence from government oversight.

They make investment decisions based purely on the merits of the business case.

So there is no government manipulation or political ideologies mucking things up.

Carney has made it clear that this is not THAT.

It will likely reduce competition, since the government will be stacking the deck against those who are not the chosen ones.

It's basically the government saying, If you want this approved, give us your profits.  So the investors (and Canadians who invest) take all the risks and the government takes the profits from the risk-taking.

That sucking sound is the government sucking up pension funds, savings and profits and directing them into a "sovereign investment fund" of government approved projects that will never turn a profit.

[paxamericana]

What’s all this talk about again? Canada is up for sale? Ah I see that’s not a bad idea. America goes in and buys you all out. This is progressing faster than I anticipated. 

[CdnFox]

8 minutes ago, Goddess said:

Using GIC's as an example, they are general well run.  What is critical to their success is their independence from government oversight.

They make investment decisions based purely on the merits of the business case.

So there is no government manipulation or political ideologies mucking things up.

Carney has made it clear that this is not THAT.

It will likely reduce competition, since the government will be stacking the deck against those who are not the chosen ones.

It's basically the government saying, If you want this approved, give us your profits.  So the investors (and Canadians who invest) take all the risks and the government takes the profits from the risk-taking.

That sucking sound is the government sucking up pension funds, savings and profits and directing them into a "sovereign investment fund" of government approved projects that will never turn a profit.

Not to mention that companies and projects that will benefit Carney's many holdings will likely get an edge over any other competition. Pretty soon it will be well known that if you want to do something in Canada you better have an in with Carney, otherwise don't bother.

There's no way this is good for us.

[Goddess]

None of this should surprise anyone.  Carney wrote a whole book on how the state needs to steer the economy so "Values" can be protected.

Nationalizing Canada's natural resources has always been his end game.  He's been laying the train tracks for this and leveraging pension plans.