Who is Mark Carney & what can we expect from him?
Notes from the Liberal leadership campaign trail
Canadians can be forgiven if they do not know who Mark Carney is and what he stands for beyond a few headlines and the latest public opinion poll that says he is going to romp to victory in the upcoming federal election. It is by design that we are not to see past his smile and weighty resume.
For the last six weeks (and likely for the next six weeks), Mark Carney and his political operatives are attempting to orchestrate a smoke and mirror performance that will keep his controversies and secrets buried. By George Journal offers this inquisitive look to unmask the man and debunk the myths that Gerald Butts, Katie Telford, and the rest of the Liberal backroom wish to hide about the Party’s heir apparent to Justin Trudeau. Follow the links for revealing source materials and a wealth of insightful punditry about Carney, his beliefs, and his intentions for the country as the Prime Minister of Canada.
The Top 4 Must-Read/Watch
· Sam Cooper: The Carney-Trudeau Nexus: How Financial Elites from Davos to Beijing Are Shaping Canada’s Next Federal Election
· Peter Foster: Mark Carney, man of destiny, wants to revolutionize society. It won't be pleasant
· Ryan Cipher and Tanya Fox of Northern Perspective interview former veteran Liberal MP Dan McTeague: Former Liberal MP BLASTS Mark Carney
· David Krayden’s KRN NEWSLETTER: Mark Carney Deep Dive
Questions concerning Carney’s guarded personal life
There are many unanswered questions about Mark Carney’s current Canadian ties. He has described himself as “European” in front of a Davos audience and holds three citizenships: Canadian since birth, Irish for decades, and British since 2018. For months he has skirted the issue of the appropriateness of a Canadian PM having a foreign citizenship. This issue has hounded his campaign, and only this past weekend did he leak to the CBC that he has “begun the process” of renouncing his Irish and British citizenships. Still, Carney will be sworn in as Canadian PM with three citizenships.
He has not been a resident of Canada for more than a decade and only in late 2024 did he buy property in the country to permit him to run for the Liberal leadership. However, given he has not been a native resident for at the least 183 days, Carney is not eligible to vote for himself in the leadership contest.
On the matter of transparency, Carney has struck out during his campaign.
Strike one: he wiped out all references to, and will not comment on his lead roles and responsibilities with the Glasgow Finance Alliance for Net Zero of the World Economic Forum (WEF) and as the UN’s Special Envoy for Climate Action and Finance.
Strike two: he refuses to comment on the intimate photos of he and convicted sex trafficker Ghislaine Maxwell (partner to Jeffrey Epstein) – aside from claiming he was “not her friend”.
Strike three: he refuses to disclose his financial interests and will not comment on whether he has yet placed his investments and assets in a blind trust.
On this last strike against him, Carney is a multimillionaire and potentially has multiple conflicts of interest with his investments and his positions with companies’ boards (more on this below). More on his financials and investments in this MSN article and in the Globe and Mail.
Carney has also struck out with his leadership campaign team and its networks of operators – their reputations speak volumes.
Strike one: the campaign core management team consists of Justin Trudeau’s BFF Gerald Butts and the international consultancy Eurasia Group, also where Carney’s wife Diane Fox is a climate policy expert. (More on this here and the last paragraphs of my latest column.)
Strike two: Carney’s network of billionaire friends underwriting a campaign that is anything but grassroots: the Desmarais, Bronfmans and Irvings, Scott McCain, former Brookfield chairmen Bruce Flatt and Jack Cockwell and many others including Head of Canada for BlackRock Marcia Moffat.
Strike three: In a must-read column, investigative journalist Sam Cooper exposes in detail the intricate web of globalists from Beijing to Davos supporting Trudeau and now Carney: The Carney-Trudeau Nexus: How Financial Elites from Davos to Beijing Are Shaping Canada’s Next Federal Election. In a video interview, Cooper further details how the Communist Chinese Party’s United Front has been mobilized to support Carney in the GTA. In his work, Cooper explains why a Carney government would be significantly more dangerous than Trudeau’s regime has been vis-à-vis China’s undue influence on Canadian sovereignty.
Carney’s embellished accomplishments
Much has been made of Mark Carney’s weighty resume and illustrious career. Over the last few weeks, the Carney campaign team’s claims have begun to be fact-checked by media and political pundits. Numerous discrepancies have been discovered as to the man’s stated accomplishments as bank governor in Canada and the U.K., his responsibilities as the UN special envoy and WEF Trustee, his record with Brookfield Corp., and his impact since 2020 as the Canadian PM’s advisor for the economy.
The Carney leadership campaign website has a short background note – and supporters have been circulating a more detailed resume in social media. Here are almost two dozen articles that help to fact check the references made by the campaign, often claimed by the man himself.
First discrepancies are involving his claims as Governor of the Bank of Canada, where he embellished his role with Finance Minister Paul Martin and later with Stephen Harper’s government. Carney’s statements have been so blatantly false that former PM Harper felt compelled to release a public statement:
“I have listened, with increasing disbelief, to Mark Carney’s attempts to take credit for things he had little or nothing to do with back then. He has been doing this at the expense of the late Jim Flaherty, among the greatest Finance Ministers in Canada’s history, who sadly is not here to defend his record. But let me be very clear: the hard calls during the 2008-2009 global financial crisis were made by Jim.”
With Carney as Governor of the Bank of U.K., Britain’s economy went from bad to worse, accelerated by a messy exit from the European Union.
Matt Oliver of the U.K. Telegraph: The scandal that could ruin Mark Carney’s bid to rule Canada ~ Claims of lies by the former Bank of England governor threaten to derail his surging campaign
Matthew Lynn of U.K.’s The Spectator Mark Carney is not fit to be Canadian PM
Former British PM weighs in on Mark Carney’s banking reputation (Brian Lilley video)
Mark Carney’s attack on Liz Truss has disgraced the Bank of England
Camilla Tominey of the U.K. Telegraph: Prime Minister Carney? Canada deserves better than this progressive twerp ~ Canadians must be aghast at the prospect of a leader even more smug and incompetent than the current prime minister
Carney has been UN Special Envoy for Climate Action and Finance, co-chairing the Glasgow Financial Alliance for Net Zero (GFANZ), which coordinates the biggest international financial institutions with banking policies respecting net-zero carbon emissions. In recent weeks GFANZ has imploded and financial institutions around the world have exited the Carney-led UN/WEF alliance. It must also be pointed out that the U.S. congress has issued reports on the GFANZ, identifying Carney and the net zero group as an international “climate cartel”.
As Brookfield Asset Management’s board chair and head of transition investing, Carney helped raise more than US$25 billion for two funds of private capital earmarked for funding the transition to net zero. There are a number of embarrassing questions about Carney’s commitment to environmentalism when reviewing the Brookfield investments and activities while he guided the corporation. There are questions concerning shipping coal to China, cutting down Brazilian rainforests, and more.
Then there is the controversy about Brookfield’s move to the United States. Though he claims he was not part of the decision making process, Carney was Chairman of the Board when Brookfield made the fateful decision to move its headquarters from Toronto to New York.
Blacklock Reporter news articles: Questions on Carney Claims and Ask Carney For Explanation
Juno News: Conservative ethics critic accuses Carney of lying multiple times, “dodging accountability”
In recent years, Mark Carney has become involved in multiple organizations – 21 in total. For a detailed look at Carney’s links to this corporate network, kudos go to the work of David Krayden who offers up this invaluable research in a newsletter article: Mark Carney Deep Dive ~ The List of 21 Companies & Organizations that are a Part of Mark Carney’s Globalist Network
On this point, last week the National Post contacted the organizations that Carney had been involved with – who he said he had resigned from – and found that “he remains connected to at least five.” Here is the news article: Carney says he resigned from 'all' his roles to run for Liberal leadership. Turns out he hasn't. There is little news commentary on this embarrassing matter and the ever-insightful Peter Menzies has a notion as to why: Media struggle to cope with the reality of Carney’s whopper about Brookfield.
And a few final thoughts about Carney’s resume…
Who is Mark Carney? ~ a look back at his tenures as bank governors and since 2020 with the Trudeau Liberals (video by MP Frank Caputo)
Carney’s core beliefs
If there is one article to read to understand the philosophical beliefs of Mark Carney it is Peter Foster’s 2021 article entitled: Mark Carney, man of destiny, wants to revolutionize society. It won't be pleasant ~ What Carney ultimately wants is a technocratic dictatorship justified by climate alarmism.
Foster begins by providing an overview of what has inspired Carney:
“In his book Value(s): Building a Better World for All, Mark Carney, former governor both of the Bank of Canada and the Bank of England, claims that western society is morally rotten, and that it has been corrupted by capitalism, which has brought about a “climate emergency” that threatens life on earth. This, he claims, requires rigid controls on personal freedom, industry and corporate funding...
Since the advent of the COVID pandemic, Carney has been front and centre in the promotion of a political agenda known as the “Great Reset,” or the “Green New Deal,” or “Building Back Better.” All are predicated on the claim that COVID, and its disruption of the global economy, provides a once-in-a-lifetime opportunity not just to regulate climate, but to frame a more fair, more diverse, more inclusive, more safe and more woke world.
Carney draws inspiration from, among others, Marx, Engels and Lenin, but the agenda he promotes differs from Marxism in two key respects. First, the private sector is not to be expropriated but made a “partner” in reshaping the economy and society. Second, it does not make a promise to make the lives of ordinary people better, but worse. Carney’s Brave New World will be one of severely constrained choice, less flying, less meat, more inconvenience and more poverty: “Assets will be stranded, used gasoline powered cars will be unsaleable, inefficient properties will be unrentable,” he promises.”
If you are challenged by the length of Foster’s column and would rather read a synopsis of the arguments, David Staples of the Edmonton Journal has done a fair job here: All the reasons why we can't trust Mark Carney to put Canada first.
And if you are having a hard time believing Peter Foster’s perspective of the man and his beliefs, Mark Carney has written it down in his own words. In his book Value(s), we see Carney’s vision for a future ideal world where climate issues have been solved by a supranational governing organization (i.e. WEF) that harnesses private sector capital for public sector green initiatives. He envisions dictating to corporations a stakeholder capitalism that takes into account prescribed environmental goals above shareholder interests. Central bankers will serve to manage the corporations, rewarding those that align with set environmental policy and penalizing those who do not align.
Likewise, Carney believes social behaviour can be influenced with sticks (taxes) and carrots (subsidies) – very much the socio-economic approach that has guided the Trudeau Liberals through the last ten years. Verily, as the backroom financial policy counsel for the Liberals, Carney has been a champion of the federal green initiatives subsidizing renewable energy projects and EV manufacturing. He has also been a champion of hiking the carbon taxes on individuals and businesses – and continuing to turn the screws tighter until the government realizes their targets.
Carney has pointedly stated, “Meaningful carbon prices are a cornerstone of any effective policy framework.” He has repeatedly argued that the carbon taxes must be higher in order for Canada to meet the UN’s 2030 and 2050 emissions targets, which the government has signed onto. In the last few weeks during his leadership campaign, Carney is now suggesting Canadian corporations – “big polluters” – will need to pay more.
It remains to be seen how his carbon tax plan will impact the Canadian economy, but it is possible to track the damage the Liberals’ carbon taxes has inflicted on the country since Carney became economic advisor to the PM in 2020. Canada's GDP per capita growth has been the lowest in the G20 since 2019 and the Canadian standard of living has fallen in that period, particularly in relation to the U.S. Canada’s carbon tax regime is considered one of the major factors in the country’s sagging economy and some Canadian economists are referring to the decoupling of Canada’s and U.S.’s growth trajectory as the “Carney Gap”.
News and commentary from the campaign trail
Here are links of interest with campaign notes, from statements and policy announcements by the candidate himself, to commentary from political observers. (In the days leading up to the Liberals’ vote, I intend to add to this list of links. So, check back.) Much of the coverage has focused on Carney’s climate action plan and carbon tax regime – the policy item he has spent the most time discussing.
Saskatchewan Janice MacKinnon in a special in the National Post: Carney repackages Trudeau's climate plan, hopes we won't notice - They both favour economically stifling regulations
Jamie Sarkonak in the National Post: Even Carney can't explain his discredited 'carbon offset' plan ~ It is a Liberal boondoggle in waiting
Carney planning to hide the carbon tax “We need to use, effectively, a shadow carbon price.” Well, a 'shadow carbon price' is nothing more than an at source carbon tax. Carney isn't getting rid of the carbon tax, he's just trying to hide it from consumers.
Canadian advocacy group Friends of Science and criticism of Carney’s Green Agenda: Putting lipstick on a pig – Mark Carney’s proposed climate plan “The Carney plan differs little in substance from the carbon dioxide pricing regime that has been the central feature of the climate policy under Justin Trudeau.”
Gage Haubrich in the National Post: Mark Carney’s carbon tariff would hurt Canadians and help no one
Alberta Premier Danielle Smith in a Juno News interview states,
“Mark Carney is no friend of Alberta. He is the architect of net zero banking policy and alliance, which was designed to stop funding oil and gas projects. It was designed to stop insurance companies from insuring oil and gas projects. The offensive agenda that we have, whether it is emissions cap or net zero electricity regs, all generate from Mark Carney who has been pushing that agenda for a long period of time…. He would be even worse than what we have seen out of Justin Trudeau and Steven Guilbeault because he has been the one who has been advocating for these policies internationally and causing us such great harm…. “
Don Braid in the Calgary Herald: Mark Carney is a climate zealot who won't back off Trudeau agenda
Kate Harrison: Stop gaslighting us, Liberals. The carbon tax isn’t going anywhere
On the impending trade war with the U.S., Brian Lilley writes “Carney a threat to our economy, just like Trump” “The big threat from Trump isn't just the tariffs, it's changing the American economy, something incoming PM Mark Carney won't be doing, meaning lost jobs.”
Carson Jerema: Mark Carney will march us straight into an American disaster
Dan Knight: Mark Carney: The Worst Possible Matchup Against MAGA Trump—And Canada Will Pay for It
On Carney’s economic policies, Matthew Lau: Carney's spending plan would put even Trudeau to shame - Separating 'operating' and 'capital' budgets is merely a ruse
David Staples in the Edmonton Journal: Mark Carney's economic plan? Trudeau's plan on steroids
Theo Argitis in the Hub: Mark Carney’s big budget plan is less impressive than it seems “Just on climate, Carney’s campaign said in its backgrounder that Canada must invest $2 trillion by 2050—roughly $80 billion per year—to hit net-zero targets. Currently, that investment is between $10 and $20 billion. The implication is the government would need to help fill that massive gap.”
National Post senior editor and columnist Terry Newman with Philip Cross, former chief economic analyst at Statistics Canada: “Carney is “more off the same”
In a seemingly unguarded moment, Mark Carney opened up about his globalist perspectives and how he sees his networks with the WEF and UN as his advantage. Here is a Juno News article on one of his media interviews: Mark Carney: I’m an “elitist and a globalist” but “that’s exactly what we need” In another candid moment, Carney also stated once PM he would consider evoking the Emergencies Act to get things done in response to the economic threats being made by U.S. President Donald Trump. These remarks prompted a strong rebuke by former Liberal Party President Stephen LeDrew: “Carney is a wickedly dangerous man, hoping to curtail individual freedom in order to achieve his view of what the world needs. He makes the WEF look like Libertarians.”
These comments aside, little has been said about Carney’s roles with the WEF as a Board Trustee since 2010 and with the UN as a special envoy since 2019. No doubt the silence on these matters is by design. Carney is a proponent of the New World Order, advancing the “Build Back Better” narrative through the pandemic and echoing Klaus Schwab’s vision of the “Fourth Industrial Revolution”. And the fact is that Carney is more comfortable with the plutocrats in Davos than the politicians in Ottawa, with the likes of Schwab and George Soros than with a farmer from Brandon, or a Tim Horton’s server in Hamilton.
Postscripts
Paul Wells: Where's Mark Carney? What's he stand for? Good luck fighting a shadow
Geoff Russ: When it comes to energy, Carney is the wrong man at the worst time “International accords such as the 2015 Paris Agreement, cooperation between financial institutions on climate goals, and more carbon pricing are no longer priorities for Canada in 2025. Canada is not a superpower, no serious person would say differently, and we have to swim in the global current of change.”
Elizabeth Nickson: Canada Is A Failed State and Mark Carney is BlackRock's Bankruptcy Trustee
Former Liberal MP Dan McTeague: Mark Carney would be bad for Canada “Canadians are fed up with green ideologues, polished or otherwise. Their ideas undermine our economic well-being, by making energy a lot more expensive. Ultimately, a Liberal Party under Mark Carney’s leadership would represent more of the same green grifting policies we saw under Justin Trudeau.”
Dan McTeague in the Western Standard: Carney’s Carbon Madness
Brian Lilley in the Toronto Sun: Here's why Mark Carney is the wrong man for Canada
Conrad Black: Sulky Mark Carney not what we need
Michael Taube in the U.K.’s Telegraph, If Mark Carney becomes Canada’s next PM, it will be Trudeau 2.0
I’ve had many jobs where I came in at the top’. Please
Many Canadians and Britons know that Carney, although more educated and intelligent than Trudeau, has mediocre and ineffective ideas up his sleeve, too. He supports environmental policies like net zero climate solutions, building a sustainable world economy and tackling wealth inequality. These are policies that would hurt Canada’s economic climate as much as Trudeau’s….
The Liberals believe that switching Trudeau for Carney will stop the bleeding and save their political hides. They’re wrong. All it’s going to result in is Justin Trudeau 2.0 with the same lousy cast of Liberal MPs and cabinet ministers in tow.
Blacklock’s Reporter: No Comment on Tax Record
G&M: Carney pledges to put assets in blind trust if he becomes prime minister
Lead Editorial in the Toronto Sun: Vote Carney, get Trudeau
CTV News: Chrystia Freeland wants Mark Carney to be finance minister, if she becomes PM
Stephen Harper criticizes Carney, says he falsely took credit for financial crisis response
Chris Nelson in the Calgary Herald: Liberals reborn under Carney? Pray it ain't so
Jordan Peterson in the National Post: Mark Carney doesn't value a prosperous Canada
Chris Selley of the National Post: Mark Carney is the human snooze button change-averse Canadians yearn for
Rick Bell of the Calgary Herald: Who can handle Trump? Sure as hell not Mark Carney, says Danielle Smith
Last word goes to former Liberal MP Dan McTeague, in the Northern Perspective interview, he answers the question “What should Canadians really be afraid of with respect to Mark Carney?” (at the 19 minute mark). In part, McTeague states:
“This is a man who represents continuity of bad policy. This is the face of the man behind the curtains operating the levers on Justin Trudeau. So, as the country has declined a lot of people have asked, “Well where is this coming from?” It has come from a man who obviously had very little interest in Canada and a lot more interest in making sure that the things he doesn’t like are invested abroad, whether he is a technocrat or not.
He tries to portray himself as something that he is clearly not. He has no common sense of what people are going through. He is a person who has been living with a silver spoon. I take nothing away from the fact that I think he is very talented at what he does, but he is not right-suited for what is required in politics, and that is the ability to understand ordinary person’s struggle. He doesn’t get it. In fact, he has had everything to do with making the lives and the ordeal of Canadians that much more arduous and difficult…..
Mark Carney is very unapologetic. The very fact that he has Gerald Butts and Katie Telford and the same group of Liberals behind him as Justin Trudeau, should be an alarm…. These people are committed to their green agenda, which does not include human beings and their ability to make ends meet unless they are prepared to accept a significant decline in their standard of living according to what they think. This is another form of authoritarianism on a level that Canadians are unfamiliar with…
Mark Carney is going to be a real problem for Canada… he is very dangerous for this country.”
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I knew he was bad, but By George has revealed his evil to be an order of magnitude greater than I was aware.
As shown, there have been and are a great number of media stories exposing Carney’s personality and capabilities, yet the general pick up of these has been minimal by the Liberal paid -off MSM. Carney’s glib self-exaggerations have simply been reproduced and enhanced for public consumption.
There is no given that Carney will either return Parliament and Canadian democracy, nor call an immediate election. More likely he will declare a ‘crisis’ and rule by decree like Trump (a ‘crisis not serious enough to have been recognized over the past month by Trudeau or Carney’s. A crisis not serious enough to recall the House until the Carney Cornstion runs its course).
Aside from this, By George states “In a seemingly unguarded moment, Mark Carney opened up about his globalist perspectives and how he sees his networks with the WEF and UN as his advantage.” Sooner rather than later Carney’s WEF/UN Agenda will run smack into the other Agenda to control the world led by Trump - a wold war of another dimension!
Meanwhile Carney’s leadership of this New World Enemy if nothing else negates any capabilities may have to negotiate anything with Trump.