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BREAKING: Carney just announced Canada's first "sovereign wealth fund." Called the "Canada Strong Fund." But here’s the reality of it: Every real sovereign wealth fund is built from surplus. Norway: oil profits. Abu Dhabi: oil profits. Singapore: trade surpluses. Canada's version? Built from borrowed money. We're running a $78... show more

Mario Zelaya

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101,768 views • 3 months ago •via X (Twitter)

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The government keeps comparing their sovereign wealth fund to Norway’s but Canadians are being misled. Norway built its fund with surpluses. Canada is running deficits. This isn’t a sovereign wealth fund, it’s a Canadian debt fund.

The government keeps comparing their sovereign wealth fund to Norway’s but Canadians are being misled. Norway built its fund with surpluses. Canada is running deficits. This isn’t a sovereign wealth fund, it’s a Canadian debt fund.

Kelly DeRidder, MP

29,252 views • 2 months ago

Carney did NOT create a sovereign wealth fund. Carney announced a debt-fuelled corporate slush fund. The government is more than $1 trillion in debt. Carney will borrow $25 billion more. Dump it into a fund. Then gamble your money on risky corporate handouts.

Carney did NOT create a sovereign wealth fund. Carney announced a debt-fuelled corporate slush fund. The government is more than $1 trillion in debt. Carney will borrow $25 billion more. Dump it into a fund. Then gamble your money on risky corporate handouts.

Franco Terrazzano

177,615 views • 3 months ago

A sovereign wealth fund requires… wealth. Canada has no surplus to invest. Because of Carney's deficits. So this will be nothing more than a $25 billion sovereign debt fund for Liberal insiders, paid for by working Canadians.

A sovereign wealth fund requires… wealth. Canada has no surplus to invest. Because of Carney's deficits. So this will be nothing more than a $25 billion sovereign debt fund for Liberal insiders, paid for by working Canadians.

Pierre Poilievre

95,368 views • 2 months ago

The government is more than $1 trillion in debt. Carney is going to borrow another $25 billion. Then he's going to gamble taxpayers' money on risky corporate handouts. This is NOT a sovereign wealth fund. It's a debt-fuelled corporate slush fund.

The government is more than $1 trillion in debt. Carney is going to borrow another $25 billion. Then he's going to gamble taxpayers' money on risky corporate handouts. This is NOT a sovereign wealth fund. It's a debt-fuelled corporate slush fund.

Franco Terrazzano

10,785 views • 2 months ago

PM Mark Carney announces Canada's first national sovereign wealth fund, the Canada Strong Fund: "This will be a Government of Canada fund, but more importantly, this will be a people's fund. It will be your fund."

PM Mark Carney announces Canada's first national sovereign wealth fund, the Canada Strong Fund: "This will be a Government of Canada fund, but more importantly, this will be a people's fund. It will be your fund."

Scott Robertson

73,834 views • 3 months ago

LIBERALS: "[The] Canada Strong Fund will allow Canadians to build this country like never before... this is a Canada for all." CONSERVATIVES: "You need to have wealth for a sovereign wealth fund. This PM is... [taking] $25 billion and [putting] it into a Liberal slush fund."

LIBERALS: "[The] Canada Strong Fund will allow Canadians to build this country like never before... this is a Canada for all." CONSERVATIVES: "You need to have wealth for a sovereign wealth fund. This PM is... [taking] $25 billion and [putting] it into a Liberal slush fund."

Juno News

56,400 views • 3 months ago

Prime Minister Mark Carney announced today that Canada will get its first-ever sovereign wealth fund. But here is the question everyone should be asking. Where does the money come from? Because a sovereign wealth fund — by definition — is built from surplus. Money left over after the government pays its bills. Canada does not have a surplus. Canada is running a histofically high deficit. Carney pointed to Norway. Singapore. Saudi Arabia. Those countries built their funds from budget surpluses largely resource revenue. They had extra money. They invested it. Canada's situation is the opposite. This fund would be seeded with borrowed money. That is not how sovereign wealth funds work. It seems to be a twenty-five billion dollar charge on the national credit card. If a project has a strong business case3 why does the government need to fund it? And if it doesn't why would any government want to? We have been here before. The Canada Infrastructure Bank launched in 2017 thirty-five billion dollars same nation-building language. Same promises of private-sector partnership. It largely underdelivered. what is fundamentally different this time?

Prime Minister Mark Carney announced today that Canada will get its first-ever sovereign wealth fund. But here is the question everyone should be asking. Where does the money come from? Because a sovereign wealth fund — by definition — is built from surplus. Money left over after the government pays its bills. Canada does not have a surplus. Canada is running a histofically high deficit. Carney pointed to Norway. Singapore. Saudi Arabia. Those countries built their funds from budget surpluses largely resource revenue. They had extra money. They invested it. Canada's situation is the opposite. This fund would be seeded with borrowed money. That is not how sovereign wealth funds work. It seems to be a twenty-five billion dollar charge on the national credit card. If a project has a strong business case3 why does the government need to fund it? And if it doesn't why would any government want to? We have been here before. The Canada Infrastructure Bank launched in 2017 thirty-five billion dollars same nation-building language. Same promises of private-sector partnership. It largely underdelivered. what is fundamentally different this time?

Dimitris Soudas 🇨🇦⚜️🇬🇷☦️ 13.12.1943

27,831 views • 3 months ago

Today, Prime Minister Carney announced the Canada Strong Fund – Canada’s first national sovereign wealth fund, which will give Canadians a direct stake in building a stronger Canada. Learn more:

Today, Prime Minister Carney announced the Canada Strong Fund – Canada’s first national sovereign wealth fund, which will give Canadians a direct stake in building a stronger Canada. Learn more:

Prime Minister of Canada

59,217 views • 3 months ago

Reporter: Update on the sovereign wealth fund? Trump: Howard likes the idea. I want to really make a lot of money, pay off debt and just get it, and then you do a fund.. these people have no debt. It's nice to have a fund…

Reporter: Update on the sovereign wealth fund? Trump: Howard likes the idea. I want to really make a lot of money, pay off debt and just get it, and then you do a fund.. these people have no debt. It's nice to have a fund…

Acyn

34,478 views • 1 year ago

Today, Mark Carney announced the Canada Strong Fund – Canada’s first sovereign wealth fund – part of our plan to build a stronger, more resilient, more independent economy that benefits all Canadians.

Today, Mark Carney announced the Canada Strong Fund – Canada’s first sovereign wealth fund – part of our plan to build a stronger, more resilient, more independent economy that benefits all Canadians.

Liberal Party

77,305 views • 3 months ago

Pierre says Carney's “Sovereign Wealth Fund” is just another corporate Liberal slush fund that will only grow our deficit. A country should actually have wealth to have one. Wealth funds are built from surpluses, which Canada definitely doesn’t have. Pierre does a good job here, it’s worth a three & half minute watch.

Pierre says Carney's “Sovereign Wealth Fund” is just another corporate Liberal slush fund that will only grow our deficit. A country should actually have wealth to have one. Wealth funds are built from surpluses, which Canada definitely doesn’t have. Pierre does a good job here, it’s worth a three & half minute watch.

Ryan Gerritsen🇨🇦🇳🇱

17,382 views • 3 months ago

BREAKING: The world's 4th richest country bought Bitcoin. Luxembourg allocated 1% of its entire sovereign wealth fund into BTC. Not a retail investor. Not a hedge fund. A government. Putting national wealth into Bitcoin. Norway is watching. Singapore is watching. Every sovereign wealth fund on the planet is watching. When the 4th richest country in the world chooses Bitcoin. The other 190 countries just took notes. Governments don't allocate national wealth into experiments... They allocate into inevitabilities.

BREAKING: The world's 4th richest country bought Bitcoin. Luxembourg allocated 1% of its entire sovereign wealth fund into BTC. Not a retail investor. Not a hedge fund. A government. Putting national wealth into Bitcoin. Norway is watching. Singapore is watching. Every sovereign wealth fund on the planet is watching. When the 4th richest country in the world chooses Bitcoin. The other 190 countries just took notes. Governments don't allocate national wealth into experiments... They allocate into inevitabilities.

Crypto Tice

47,478 views • 3 months ago

Norway, a country of just 5.6 million people, controls one of the world’s most powerful financial assets a $2 trillion sovereign wealth fund. Built from oil revenues but invested globally, it is considered one of the most successful economic strategies in modern history. Here’s how Norway did it and why it matters today.

Norway, a country of just 5.6 million people, controls one of the world’s most powerful financial assets a $2 trillion sovereign wealth fund. Built from oil revenues but invested globally, it is considered one of the most successful economic strategies in modern history. Here’s how Norway did it and why it matters today.

The Hindu

80,060 views • 2 months ago

🚨A simple question: how much is this Sovereign Wealth Fund going to cost? It hasn't been calculated. So we are launching a Sovereign Wealth Fund using borrowed money without calculating the costs ..... what could possibly go wrong? #cdnpoli

🚨A simple question: how much is this Sovereign Wealth Fund going to cost? It hasn't been calculated. So we are launching a Sovereign Wealth Fund using borrowed money without calculating the costs ..... what could possibly go wrong? #cdnpoli

SandraCobena

14,023 views • 2 months ago

Canada's New Sovereign Wealth/Debt/Slush Fund Wow just Wow: what's next Digital Currency? Turns out Carney proposed this Fund idea to Trudeau 2 years ago when he was at Brookfield I believe this is a dumb idea: let me break it down

Canada's New Sovereign Wealth/Debt/Slush Fund Wow just Wow: what's next Digital Currency? Turns out Carney proposed this Fund idea to Trudeau 2 years ago when he was at Brookfield I believe this is a dumb idea: let me break it down

Ron Butler

55,204 views • 3 months ago

Norway’s Sovereign Wealth Fund was built on the back of Norway’s Oil & Gas REVENUES. It’s now so big that it funds 25% of Norway’s national budget. It also holds so much wealth that every Norwegian can get US$385 000 at any moment. Zimbabwe is following suit. The Mutapa Investment Fund is Zimbabwe’s Sovereign Wealth Fund. It owns and manages natural resources & companies (parastatals/SOEs) on behalf of the people of Zimbabwe. President President of Zimbabwe IMPLEMENTED the concept of the Sovereign Wealth Fund after years of lying idle. The purpose of this fund is to create and preserve wealth for current and future generations. The fund will be able to invest in business ventures in Zimbabwe & even in foreign countries. Dr Mangudya, the CEO of the Mutapa Investment Fund, explains the significance of this fund.

Norway’s Sovereign Wealth Fund was built on the back of Norway’s Oil & Gas REVENUES. It’s now so big that it funds 25% of Norway’s national budget. It also holds so much wealth that every Norwegian can get US$385 000 at any moment. Zimbabwe is following suit. The Mutapa Investment Fund is Zimbabwe’s Sovereign Wealth Fund. It owns and manages natural resources & companies (parastatals/SOEs) on behalf of the people of Zimbabwe. President President of Zimbabwe IMPLEMENTED the concept of the Sovereign Wealth Fund after years of lying idle. The purpose of this fund is to create and preserve wealth for current and future generations. The fund will be able to invest in business ventures in Zimbabwe & even in foreign countries. Dr Mangudya, the CEO of the Mutapa Investment Fund, explains the significance of this fund.

𝑲𝒖𝒅𝒛𝒂𝒊 𝑴𝒖𝒕𝒊𝒔𝒊

18,333 views • 6 months ago

Controller of Budget has faulted the Sovereign Wealth Fund Bill (see quoted tweet) on a number of issues: · The Bill is silent on the relationship between the Sovereign Wealth Fund & the Consolidated Fund & therefore the Controller of Budget's Office has no oversight power of withdrawals from the Sovereign Wealth Fund. It presents a grave risk · Regarding the capitation of the Sovereign Wealth Fund, the Controller of Budget wants all proceeds to first be credited into the Consolidated & then be routed to the Sovereign Wealth Fund through Parliamentary appropriation. As it is, the Bill undermines Article 206 of the Constitution · The Sovereign Wealth Fund Board, as constituted in the Bill, is susceptible to executive capture & there is need to amend the Bill & provide for independence non-voting observation to mitigate this risk · The Bill is too broad on investment guard rails. There's need for a Statutory Investment Policy, reviewed once every 3 years, for the Fund that is approved by Parliament. There's also need for an independent advisory committee & performance benchmarking against publicly available targets · The Bill vests withdrawal from the Sovereign Wealth Fund on the Cabinet Secretary. This needs to change & be vested with Parliament & require express approval in writing from the Controller of Budget. There needs to be a Statutory Withdrawal Guide capping annual withdrawals as a proportion of the fund

Controller of Budget has faulted the Sovereign Wealth Fund Bill (see quoted tweet) on a number of issues: · The Bill is silent on the relationship between the Sovereign Wealth Fund & the Consolidated Fund & therefore the Controller of Budget's Office has no oversight power of withdrawals from the Sovereign Wealth Fund. It presents a grave risk · Regarding the capitation of the Sovereign Wealth Fund, the Controller of Budget wants all proceeds to first be credited into the Consolidated & then be routed to the Sovereign Wealth Fund through Parliamentary appropriation. As it is, the Bill undermines Article 206 of the Constitution · The Sovereign Wealth Fund Board, as constituted in the Bill, is susceptible to executive capture & there is need to amend the Bill & provide for independence non-voting observation to mitigate this risk · The Bill is too broad on investment guard rails. There's need for a Statutory Investment Policy, reviewed once every 3 years, for the Fund that is approved by Parliament. There's also need for an independent advisory committee & performance benchmarking against publicly available targets · The Bill vests withdrawal from the Sovereign Wealth Fund on the Cabinet Secretary. This needs to change & be vested with Parliament & require express approval in writing from the Controller of Budget. There needs to be a Statutory Withdrawal Guide capping annual withdrawals as a proportion of the fund

Julians Amboko

51,626 views • 3 months ago

Tom Mulcair is chugging Liberal Kool-Aid straight from the tap. 😂 Carney announces a $25 BILLION sovereign wealth fund (aka taxpayer-funded slush fund) for his elite buddies to build big projects while families can’t afford groceries, gas, or rent. Mulcair SWALLOWS Liberals JUICE: Bold vision Average Canadians can buy in Carney’s a genius communicator Reality check, Tom: Carney already added $90 BILLION net new spending Deficits bigger than Trudeau’s Worst inflation & household debt in G7 $1 TRILLION+ fleeing Canada because of red tape This Wealth FUND is going to be another Liberal Disaster

Tom Mulcair is chugging Liberal Kool-Aid straight from the tap. 😂 Carney announces a $25 BILLION sovereign wealth fund (aka taxpayer-funded slush fund) for his elite buddies to build big projects while families can’t afford groceries, gas, or rent. Mulcair SWALLOWS Liberals JUICE: Bold vision Average Canadians can buy in Carney’s a genius communicator Reality check, Tom: Carney already added $90 BILLION net new spending Deficits bigger than Trudeau’s Worst inflation & household debt in G7 $1 TRILLION+ fleeing Canada because of red tape This Wealth FUND is going to be another Liberal Disaster

Marc Nixon

16,804 views • 3 months ago

🚨CARNEY WANTS YOUR MONEY🚨 Mark Carney just announced a sovereign wealth fund… and openly asked Canadians to put their money into it. But we looked at many other "sovereign wealth funds" and you will never guess who was part of every single one of them. Maybe you will.

🚨CARNEY WANTS YOUR MONEY🚨 Mark Carney just announced a sovereign wealth fund… and openly asked Canadians to put their money into it. But we looked at many other "sovereign wealth funds" and you will never guess who was part of every single one of them. Maybe you will.

Northern Perspective

52,818 views • 3 months ago

The Carney government is founding a sovereign wealth fund. It will fund "nation building projects". A $25 billion endowment. Canadians will be able to invest, similar to Victory Bonds. Canada is breaking dependence on the United States, and thinking independently again.

The Carney government is founding a sovereign wealth fund. It will fund "nation building projects". A $25 billion endowment. Canadians will be able to invest, similar to Victory Bonds. Canada is breaking dependence on the United States, and thinking independently again.

Riley Donovan

16,983 views • 3 months ago