Canada’s Liberals Want to Ditch Carney? It’s Complicated

The prime minister may want to abandon the Grits. 

By Andrew Moran | May 27, 2025@ Liberty Nation News, Tags:  Articles, Opinion, Politics

King Charles and Queen Camilla arrived in Ottawa, Canada, on May 26 for a two-day visit to the nation’s capital. The king will address Canada’s parliament on May 27, an oration that will likely highlight the sovereign constitutional monarchy that will not transition to America’s 51st state. But while all the focus is on some people who do nothing all day, the public is missing out on some good old-fashioned backroom political shenanigans.

Liberals and the Political Mutiny?

Liberal Members of Parliament are ostensibly united in a common goal: The Great White North cannot have another Justin Trudeau on its hands.

According to Politico, Liberal lawmakers gathered to bolster their power to remove Prime Minister Mark Carney from the party’s leadership throne. While the news outlet offered readers a misleading title, “Canada’s Liberals are already thinking about how to remove Mark Carney. It’s not personal,” MPs are simply adopting measures found inside Canada’s Reform Act, a decade-old piece of legislation introduced by Conservative MP Michael Chong.

The Tories used it to kick out former leader Erin O’Toole. Because the Conservative Party presented this initiative, the Liberals refrained from utilizing it when Trudeaumania ravaged the Canadian economy, decimated household finances, and set the country back ten years. Now that it is out with the old and in with the new, the party might hope Canadians’ collective memory fades to black.

Quebec Liberal MP Sophie Chatel told the news outlet that this is “a powerful symbolic gesture” and “a renewed commitment to strengthening the relationship with caucus.” Carney acknowledged the vote, telling reporters he “observed that this will happen.”

Put simply, the Grits are not actively seeking to oust Carney – for now. Instead, they want to possess the option to remove the prime minister in the future should unfavorable conditions metastasize, and the party’s polling numbers tank again. However, considering what members of Carney’s party have said since the election, he might want to think about distancing himself from the Liberals.

Beginning of the End

Like the Toronto Maple Leafs’ playoff run, it was over before it started.

The prime minister won the 2025 election for two reasons: older voters hate President Donald Trump, and Carney convinced them that he would bring the public the change they needed. However, within days after being sworn in, the Liberals made Carney look terrible.

Give Cable TV the Boot – Check This Out!

First, the former Bank of Canada and Bank of England chief promised to make the country an energy superpower. One strategy is constructing a pipeline that should have been done years ago, essentially caving to Alberta’s demands. Culture Minister Steven Guilbeault appeared to contradict the prime minister.

Speaking to reporters on May 14, the former environment minister seemed to pour cold water on the new pipeline idea, citing the years-long prognostication of peak oil demand. “So I think before we start talking about building an entire new pipeline, maybe we should maximize the use of existing infrastructure,” Guilbeault told the press. “And, the Canadian Energy Regulator, as well as the International Energy Agency, are telling us that probably by 2028-2029, demand for oil will peak globally, and it will also peak in Canada.”

Second, Carney has vowed to make housing affordability one of his top economic priorities. Indeed, the Canadian real estate market is one of the most expensive in the world, with the average price hovering around $700,000, up approximately 40% from before the coronavirus pandemic. Aside from Saskatchewan, every housing market has spiraled out of control, leaving millions of Canadians unable to achieve the dream of homeownership.

Economists and housing advocates generally concur that home prices need to fall to ensure middle-class households and young families can accomplish something Baby Boomers did decades ago. Yet, Housing and Infrastructure Minister Gregor Robertson says he does not think housing prices need to come down to restore housing affordability.

“I think that we need to deliver more supply, make sure the market is stable,” the former Vancouver mayor told the media on May 14. “It’s a huge part of our economy, but we need to be able to deliver more affordable housing.” He later doubled down on social media: “The question I answered was about reducing the price of a family’s current home, which for most Canadians, is their most valuable asset.”

It is true that Canada’s economy largely depends on real estate, accounting for as much as 50% of GDP growth in some quarters. Many senior Canadians are also relying on their home’s ATM to fund their retirement. However, if this were the dim reality, the Grits should have been forthright during the campaign about this plight and informed the next generation that they will never be able to purchase a residential property. This will be the case for years to come, anyway.

When the cats are away, the mice will play. Or, when the captain is gone, his seamen will accidentally commit mutiny. It is safe to say the prime minister was not expecting these remarks while he was in Rome for Pope Leo XIV’s inaugural mass. With allies like these, who needs enemies up north?

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Liberty Nation does not endorse candidates, campaigns, or legislation, and this presentation is no endorsement.

 

Read More From Andrew Moran Economics Editor

The Global Net Zero Financial Cartel, Falling Apart

January 11, 2025/ Francis Menton @ Manhattan Contrarian

Less than three weeks ago, on December 23, in a post on optimism about the potential demise of the green energy fantasy, I took note that two of the largest U.S. banks had just quit something called the “Net Zero Banking Alliance.” The two were Goldman Sachs and Wells Fargo. These two banks, along with many others, including all of the biggest ones, had joined the NZBA as it was getting organized under auspices of the UN back in 2021. NZBA, together with other related groups organized around the same time, aspired to be cartels of financial institutions that would save the planet by starving hydrocarbon fuels of all investment capital, while re-directing the money to the “green” energy transition. Now, shortly after the re-election of Donald Trump, two of the biggest banking giants had decided to exit. Could this be a sign that the zero-carbon green energy fantasy was losing its grip?

In the short 19 days since that post, the trickle of resignations from the NZBA and related groups has turned into an avalanche. In the blink of an eye, what once seemed a serious threat that hydrocarbon fuels could be snuffed out by a group boycott of investors has almost entirely gone away.

More on the latest developments later in this post. But first, some history of NZBA and the related alphabet soup of do-gooders.

2021 was the year that the UN’s big climate confab, known as the “Conference of Parties” or “COP,” was to be held in Glasgow, Scotland. Although the COPs are normally held every year, there had not been one in 2020 due to the Covid pandemic. After the year hiatus, COP-26 was ultimately held from October 31 to November 13, 2021. Boris Johnson, Prime Minister of the UK, who had converted from one-time climate skeptic to all-in alarmist, was determined to make this COP-26 the be-all and end-all of all COPs. The swarms of little aspiring tyrants in UN bureaucracies, just off their hugely successful Covid power grabs, were ready to flex their new muscles in the climate arena.

In the many months of preparations for the Glasgow conference, the UN got the bright idea of organizing all of the world’s big financial institutions into cartels to direct their capital to an “energy transition” and away from hydrocarbon fuels. To achieve this goal, in April 2021 there was formed an entity called the Glasgow Financial Alliance for Net Zero, or GFANZ. According to its website:

The Glasgow Financial Alliance for Net Zero (GFANZ) brings together leading financial institutions and other financial services sector participants who have individually decided to support the objectives of mobilizing capital and addressing the barriers companies face to scaling decarbonization. . . . GFANZ was founded to establish a forum for addressing and catalysing action toward the sector-wide challenges and opportunities associated with the net-zero transition.

The moving force behind this initiative appears to have been a guy named Mark Carney. Have you heard of him? Carney is a native Canadian, and a big-time guru in the central banking world: he was the Governor of the Bank of Canada from 2008 to 2013, and then promptly moved to become the Governor of the Bank of England from 2013 to 2020 (the first non-Brit to hold that position). 

Along the way, Carney became one of the top evangelists of the climate alarm religion. Upon leaving the Bank of England, he hopped over to the UN, where he got the highfalutin title of “Special Envoy on Climate Action and Finance.” According to its website, “GFANZ was launched in April 2021 by UN Special Envoy on Climate Action and Finance Mark Carney and the COP26 presidency to accelerate the transition to a net-zero global economy.”

Carney became the Chair of GFANZ. By the time of COP-26 in November 2021, Carney had also recruited to join him as Co-Chair none other than the ultimate climate hypocrite, Mike Bloomberg (of the seven houses and eight private aircraft). According to the GFANZ website, the two remain Co-Chairs today.

GFANZ was then instrumental in organizing a series of subsidiary groups divided by industry sector. Relevant to today’s post are the NZBA (formed contemporaneously with GFANZ in April 2021), and the Net Zero Asset Managers Initiative, NZAMI, which actually had been launched a little earlier in December 2020.

Both the NZBA and the NZAMI were rapidly successful in recruiting to their membership essentially all the biggest names in their industry sectors. The missions statements of the groups are written in a bureaucratic style that makes them difficult to understand, but it is clear at least that the idea is to stop the financing of the hydrocarbon fuel industry. For example, here is the first item of the “Commitment Statement” of the NZAB:

Transition the operational and attributable greenhouse gas (GHG) emissions from their lending and investment portfolios to align with pathways to net-zero by 2050 or sooner.

Which brings me to the latest developments: The exits from the NZAB of Goldman Sachs and Wells Fargo in early December quickly opened the barn doors for the other big players to rush out. On December 31, Reuters reported that Citibank and Bank of America had just quit the NZAB. Morgan Stanley announced its exit on January 2. JP Morgan quit on January 7. These six big banks among them have a market share of more than 25% of the entire U.S. banking industry.

And then, just yesterday, the largest asset manager in the country, BlackRock, quit the NZAMI. Of the three largest asset managers, another one, Vanguard, had already quit back in 2022. That leaves only State Street remaining, of the big three.

Meanwhile, in case you are wondering what is going on with Mark Carney, he appears to be a leading candidate for leader of Canada’s Liberal Party now that Justin Trudeau has quit. The CBC, in a piece yesterday, says that Carney has the backing of some 30 Liberal MPs. That would mean that Carney could become the next Prime Minister of Canada, should the Liberals win the election expected to be held some time this year. On the other hand, according to the latest polls, it looks like the Liberals are headed toward one of the most decisive wipe-outs in the history of Canada. This poll, from CBC News on January 6, concludes that if the election were held that day, the Conservatives would win approximately 227 seats to the Liberals’ 44 (in a Parliament of 338).

So Carney may get a chance to test how well the climate alarm message continues to sell to the Canadian voter. So far, it’s not looking good.