John Bolton - Mark Carney - Problematic Tax Shelters and Judicial Investigations

00:00:00.000 Hi, it's John and welcome to the channel. Great to have you along today. It is still Wednesday,

00:00:04.860 March the 26th. It's 3.42 p.m. with my big blue mug of coffee. I'm recording this early because

00:00:10.680 I want to get a bit of a sleep in on Thursday morning. So you're watching this on Thursday

00:00:14.700 morning. So on Wednesday, the story broke about Mark Carney and a Bermuda tax shelter for

00:00:22.160 Brookfield. And I think I have a different perspective on this from a conservative point

00:00:27.080 of view and the way Paulyev should play this or should have played this. And I have a question

00:00:33.160 regarding Mark Carney and whether he should be having different accommodations right now. We'll

00:00:38.540 get to that in just a moment. So the story is here on the National Post. Carney defends Brookfield's

00:00:44.540 use of Bermuda tax shelters, says structure help pensioners. If we go down here, Carney told

00:00:51.680 reporters at a campaign stop in Windsor, Ontario, that the funds were registered in Bermuda to

00:00:56.940 avoid double taxation. Quote, the important thing is that the flow through of the funds

00:01:02.240 go to Canadian entities who then pay the taxes appropriately, as opposed to taxes being paid

00:01:09.060 multiple times before they get there, unquote, said Carney. So let's, let's watch that video.

00:01:15.360 Could I just follow up on that? Could you explain in that, in the case of those Brookfield funds,

00:01:19.280 like what was the argument for registering the funds in Bermuda? Is it ethical to do that? And is

00:01:25.580 it something as prime minister that you'd have to crack down on? I'm not sure if it's a problem,

00:01:29.500 but is that something that you'd have to crack down? I think the important thing, Tom, is that

00:01:33.500 the flow through of the funds go to the, go to Canadian entities who then pay the, pay the taxes

00:01:41.380 appropriately, as opposed to taxes being paid multiple times before they get there. So that's

00:01:47.300 how we have the structure. That's the structure that all of our pension funds, by example.

00:01:53.000 So there's a couple things there. There's one thing he says, I'll translate what he says there to the

00:01:58.140 best of my ability. And there's another thing that he avoids there. So the first thing is,

00:02:03.260 he says, if it benefits Canadians down the road, it's okay for Brookfield to avoid taxes in Canada

00:02:10.560 and find a tax shelter in Bermuda because the people down the road are paying the taxes. So that's a

00:02:15.440 great bit of information to know if you're a business. And this is not illegal from what I

00:02:23.280 understand. This is right above board, but you have to properly report to the Canada Revenue Agency.

00:02:29.480 So I would be looking into that. He says, everything's above board, but do you trust this

00:02:35.000 guy? Because I don't trust this guy as far as I can throw him. Now, the other thing he doesn't say

00:02:39.680 in there, he's asked right off the top, is this ethical? He didn't answer that question because I

00:02:44.820 don't think this is ethical at all. I've got some, I've got a different perspective on this from the

00:02:52.380 conservative standpoint. I mentioned that off the top. So stay tuned for that. But the other thing

00:02:55.980 in this story, let's go back to the National Post story. The stuff in yellow here is really a concern

00:03:02.300 to me. People are thinking about the Bermuda tax shelter, but it's this line right here in this

00:03:06.560 National Post story that really concerns me. And remember, I just said, I don't trust this guy as far

00:03:11.820 as I can throw him. The funds were geared toward investments in green energy and infrastructure

00:03:16.160 holding combined assets of $25 billion. Brookfield invested in green energy and infrastructure

00:03:22.280 and they did that in Canada. Who was the economic advisor of Justin Trudeau while he was at Brookfield?

00:03:31.160 That would be Mark Carney. I want to know how he personally benefited from influencing the

00:03:38.820 government of Canada to invest in green energy and infrastructure to the tune of $25 billion.

00:03:45.700 We don't know this because he hasn't divulged all his information. He says everything's fine.

00:03:51.340 Do you trust him? Go back to me. I can trust him as far as I can throw him. I'm really concerned

00:03:58.800 about that part of this. I mean, this guy is as slimy as it get, folks. I mean, look at this article

00:04:04.500 right here. This is from 2023. International tax watchdog questions asset management giant Brookfield's

00:04:11.340 tax transparency. I'll just read a little bit of this to you. The Center for International Corporate

00:04:16.480 Tax Accountability and Research, SICTAR, I'm going to call it that, released the report Tuesday which

00:04:21.380 alleges the firm engages in tax avoidance and challenges the company on its claim to be a

00:04:26.640 responsible and sustainable investor. Brookfield's track record of alleged tax dodging has received

00:04:32.920 some attention in Australia and Canada where it may claim the title of Canada's top tax dodger,

00:04:38.620 the report reads, and there is an apparent pattern of aggressive tax avoidance consistent across its

00:04:44.200 global operations. Brookfield disputes the claim saying in an email to the Star, and this is in

00:04:49.520 the Toronto Star. If we go down here to the bottom, despite Brookfield's assertion, SICTAR's report

00:04:56.180 concludes with a demand Brookfield Corp adopt more transparent practices. Brookfield has opposed the

00:05:02.860 resolution. SICTAR says, quoting a response from Brookfield saying it doesn't believe the company

00:05:08.000 has any tax-related negative impacts on human rights, the economy, or environment, among other

00:05:14.360 concerns. If that's the case, SICTAR argues, there should be nothing to fear with providing greater

00:05:20.340 transparency. Again, this guy is as slimy as he gets because you go over here, here's an article,

00:05:27.820 Mark Carney's G-Fans, that's the Glasgow Financial Alliance for Net Zero, remember he's Mr. Net Zero,

00:05:33.540 targeted in bombshell climate cartel report by the U.S. Judiciary Committee. This is from June 25th,

00:05:39.980 2024. This is an ongoing investigation. Go down here, issued by the U.S. House Judiciary Subcommittee

00:05:46.980 on the administrative state, regulatory reform and antitrust, the climate control report targets

00:05:52.480 groups like Mark Carney's G-Fans and Climate Action 100, among others. The report claims that the

00:05:59.920 climate cartel imposes these radical policies by weaponizing ever-escalating pressure tactics on

00:06:06.420 corporations. One of the tactics is forcing companies to make immaterial disclosure of carbon

00:06:12.080 emissions, a tactic being pushed in the U.S. and Canada. Mark Carney has been involved in pressuring

00:06:18.780 financial organizations to divest from the oil and gas industry. That is under investigation right

00:06:25.200 now with this organization called G-Fans. And here's Mark Carney on record saying what happens

00:06:30.980 to companies who don't follow along with his rules when it comes to net zero.

00:06:35.540 Society is putting tremendous value on achieving net zero. So the companies and those who invest in

00:06:43.180 them and lend to them who are part of the solution will be rewarded. But those who are lagging behind

00:06:48.820 and are still part of the problem will be punished.

00:06:51.560 The guy's about as slimy as you can get. People are going to vote for this guy. He reminds me of

00:06:57.320 Mr. Burns from The Simpsons, right? But here's the thing. He's admitted to doing both of these

00:07:04.500 things. You've seen clips. He's admitted that, yeah, he was putting pressure on companies or you get

00:07:09.980 punished. And yeah, we were putting money in Bermuda to avoid taxes, but the money was going to somebody

00:07:15.980 else and they paid the taxes. But he's admitted to these things. I was talking about different

00:07:19.800 accommodations. I'm talking about a jail cell. If this isn't about board, you should send the guy

00:07:25.260 to jail. Tax avoidance. But I think that the conservatives maybe should look at this in a

00:07:31.520 different way. And here's where I'm thinking differently here. And I wrote it down. I put

00:07:35.380 it down. I typed it into my computer so I wouldn't forget my train of thought here. So let me read it

00:07:39.520 to you. What I wrote. I think a good play for Polyev would be Mr. Carney and Brookfield. Good call.

00:07:47.060 Great business decision. Just like moving Brookfield to New York. I mentioned earlier it was a great

00:07:51.940 business decision to move to New York. You avoid the awful taxation of Canada, the horrendous economy

00:07:58.100 and the stifling regulations of the government of Canada. A liberal government, I might add.

00:08:03.520 The Bermuda tax haven might be illegal if you haven't filed with the Canada Revenue Agency.

00:08:09.620 It's highly questionable and definitely unethical, particularly for somebody running as prime

00:08:15.240 minister. But from a business standpoint, a lot of people might do the same to get around

00:08:20.040 the awful business environment caused by the liberal government you advised for years.

00:08:24.740 Wouldn't that be great if Polyev came out and said that? Listen, we're very few days into

00:08:31.440 this election campaign. And I mentioned the net zero thing here. His environmental record is an

00:08:37.000 absolute nightmare. And that's what scares the hell out of me, should he be elected and the liberals get

00:08:42.160 back in. And that's going to come to light. If not very soon, Polyev should get into it on the election

00:08:48.600 trail, but it should be brought up during the debate. And he needs to hammer him on that because

00:08:54.380 this guy is a climate zealot. But what do you think about this video? Please let me know.

00:08:59.700 Leave a comment. Give me a thumbs up. We're getting towards 18,000 people on the channel,

00:09:05.120 so subscribe to the channel. And ring the bell for notifications, and I'll see you in the next one.

John Bolton - March 27, 2025

Mark Carney - Problematic Tax Shelters and Judicial Investigations - Slimy⧸Unethical⧸Liberal

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