Canada Setting Up Sovereign Wealth Fund to Distance Economy From U.S.

Who ever wrote that headline has no idea what a sovereign wealth fund is lol

How are those two things connected?

I’ve heard this talked about all day on local radio here in Edmonton Alberta and not once did they say it was to distance the Canadian economy from the U.S. He doesn’t say it in the video clip or any of the sound bytes I’ve heard today. While I’m sure it plays a part this mostly is about Canadians investing in making Canada stronger.

Sovereign wealth fund, yes. To distance ourselves from the USA economy.... ???

Similar to Singapore's government investment body -- Temasek Holdings. Good idea.

I think 100% of all Canadian politician wages & their pensions should be base on this fund's annual profit & long term profit. That will align politician's interest to their people.

The obvious question nobody in Ottawa seems to want to answer directly is where the $25 billion comes from. Sovereign wealth funds are typically built from budget surpluses, which is how Norway's fund became the largest in the world. Canada currently runs a **deficit**.

I’ll be the first to say that I don’t understand shit about finances and economics but I’m down for anything that makes it possible to cut us off from the US permanently.

It's a shame the U.S. has lost a good trading partner. It didn't have to happen. We could have kept a synergy.

We should call it our TACO fund

I can't understand how Canada can create a sovereign wealth fund with no money. Norway did it with its surplus oil revenues. Canada has massive debt therefore no surplus money to invest. It doesn't even invest in its own natural resources, crazy as that is. They purchase LNG from Australia and oil from Saudi Arabia even though they have the third largest oil and gas reserves in the world.

So there just borrowing 25 billion to invest it? They still have to pay interest on that money?

We have the concept of a plan!

carney and the rest of them are finally waking up to how much we need our own piggy bank.

Sovereign wealth funds are meant to diversify away from the domestic economy as to not put too many eggs in one basket.

Derp. The commonwealth fund maybe

“By investing in US stocks “

Ouch

I support this as a Canadian. But what has this got to do with the US.?

Funny how everyone's putting on their big boy pants all the sudden. 

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Hoping for the best since this is my country after all, but I have zero hope that this is anything but a scam.

This is typical liberal policies. Carney will ask Canadians to invest in the fund and once you take back your money they will tax you to hell.

>Mr. Carney linked its creation to his plans for major infrastructure projects like pipelines, ports, new nuclear generation and a high-speed passenger rail line. They are intended to bolster the economy in the face of President Trump’s trade war with Canada. >“For the first time in the history of Canada,” Mr. Carney said, “Canadians will not just contribute to the realization of these projects, they will benefit directly from their return.” I don't understand, does the Canadian government not already invest in infrastructure projects and have Canadians not already seen the benefiting of such projects? Oh so it's just more of the same..... >Mr. Carney made his announcement standing between two steam locomotives on display at a science and technology museum in Ottawa. He used them to evoke the history of the Canadian Pacific Railway, the first transportation link to unite Canada, which involved both private and public finance. In the 1870s, the government provided the railway’s promoters with over 25 million Canadian dollars, 25 million acres of land and generous tax exemptions. >“Facing at that time an economic depression and threats to our sovereignty from our southern neighbor, Canadians chose to build,” Mr. Carney said. “And the Canadian Pacific Railway became the connective tissue of a new country.” >After a reporter reminded the prime minister that the awarding of the railway contract also led to a political scandal, Mr. Carney said that the government would do things differently today. >“We have this same reliance on private enterprise to build and run these businesses,” he said. “But at the same time, we’ve also learned from our past.”

The only province that can provide net-input to that SWF is AB. Feds will just use it to continue to appease Ontario and Quebec. Canada system is dysfunctional

LOL, Google Crocus Fund in Manitoba just a national version of that. They say it will be protected - yah with our taxes….

The question is: how do countries with sovereign wealth funds avoid them becoming soft power manipulation?

Because nothing says independence like copying Norways homework

good luck diversifying away from that 75% export reliance on us

Sovereign wealth funds normally need wealth to work and Canada has none

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