BANK SELLOUT: Trudeau Letting Global Wealth Fund Write Canadian Policy

Canada Infrastructure Bank policy being set by massive global wealth fund BlackRock

The Trudeau government is bringing in a new Canada Infrastructure Bank. The bank would be a $35 billion fund, backed by taxpayer money. It would be designed to attractive private investment for infrastructure programs.

However, the government is putting itself in a potential serious conflict-of-interest by letting a global wealth fund have massive influence over how the infrastructure bank works.

As reported by the Globe & Mail, BlackRock – the world’s largest wealth fund – was part of a top-level government group designing the “pitch” to possible investors in the fund.

However, this wasn’t just one session about sharing ideas – the working group spent months together, and BlackRock was part of the group the entire time. Government documents show that BlackRock had the power to not only comment, but also “review” what the government would say to investors. We can be certain BlackRock was also allowed to make changes – which means they were writing government policy.

Let’s put it this way: BlackRock wasn’t in that room for months just to check the spelling.

The opposition parties are deeply disturbed by what the Trudeau government is doing:

As Conservative MP Pierre Poilievre said “The government seems to have given extraordinary control over a $35-billion infrastructure bank funded by taxpayers to the very people who may profit off of that money.”

The NDP is also concerned, with Finance Critic Alexandre Boulerice saying, “The Liberal government has become the instrument of certain very powerful corporations that are in the midst of creating an entity that corresponds to their interests. And when I say their interests, it’s their financial interests first and foremost. If this isn’t a major conflict of interest, I don’t know what else you could call it.”

Conflict-of-Interest

The head of Democracy Watch – Duff Conacher – has said he will ask the Conflict of Interest and Ethics Commissioner to investigate whether the Trudeau government is violating the Conflict of Interest Act by giving BlackRock such influence over government policy.

Yet another conflict-of-interest problem for Trudeau.

Not a surprise that Trudeau would sell-out Canada’s interests

It’s no real surprise that Trudeau would let a global investment bank write Canadian policy.

As we think back over Trudeau’s time in office so far, we can see a clear pattern where he either forgets, or never even considers that he is not supposed to be the servant of the elites.

He always puts the interests of those who already have tremendous wealth and power ahead of the interests of the Canadian people.

This has serious consequences.

As we saw just yesterday in a Stats Canada report, our economy is struggling. Wage growth is at a 20 year low, and more people have given up on finding a job. At the same time, banks are making record profits.

That’s no coincidence.

So long as Canada is led by Trudeau, only the elites will benefit. The rest of us are paying the price.

Spencer Fernando

0 0 vote
Article Rating
Subscribe
Notify of
guest
2 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Jan Scheit

Indeed. Personally I think this goes way above and beyond “conflict of interest”. Using taxpayers money to finance a phony bank is in itself beyond despicable but having corporations who stand to profit critiquing its implementation is fundamentally corrupt. Being fleeced by your government on behalf of global corporations is unparalleled corruption.

A. Pressman

This is exactly what you would expect from a Liberal government led by the son of the biggest traitor in Canadian history. Pierre changed the Bank of Canada Act in 1974 from one of loaning money to the government for large scale infrastructure projects such as the TransCanada Hwy and the St. Lawrence Seaway, to one of borrowing from the private banks at interest. Since that time we have accumulated a deficit of 700 Billion dollars and have paid over a Trillion dollars in interest to the private banks, instead of borrowing from ourselves. Justin is completing his fathers work… Read more »