April Fools and Canadian Election, Who is Carney? Gold trend
Viscount Mining VML Profits
It's April fools day and it appears to me that a lot of Canadians are being fooled with this election rhetoric. The polls are saying that the number one issue in the Canadian election is a leader in another country. That sounds pretty foolish to me.
On that topic, all the talk in the U.S. and Canada is about Trump's tariffs to be announced tomorrow. One of the other crazy things going around is Trump will run for a 3rd term. Last night I had U.S. news on TV and the headline they ran was 'Trump serious about a 3rd term. So I said to myself that I got to hear this. They ran a clip of Trump saying “A lot of people say I should run again.” What a joke, probably every President said something like this in their 2nd term, so I looked up Obama. On his exit interview after the Democrats lost to Trump. Obama said about his vision of one America. “You know, I am confident in this vision because I’m confident that if I — if I had run again and articulated it, I think I could’ve mobilized a majority of the American people to rally behind it.”
This 3rd term nonsense is just that and is really just a media ploy. And a Canadian diversion. Forget about Trump, Canada needs a leader that can fix Canada.
I think Carney maybe made a big political blunder, endorsing China election interference.
At a January news conference with Chinese-language media, Paul Chiang, a Liberal MP suggested that Joe Tay, a Conservative Candidate in the election - is wanted under Hong Kong’s National Security Law, could be “taken” to the Chinese Consulate in Toronto to claim a HK$1 million bounty.
Remember these election ridings have large amounts of Chinese Canadians. To many (including over a dozen civil society groups) and I would agree that this is Chinese election interference and when this was pushed out there, calling for Chiang's resignation, Carney came out and said he supports Chiang. Media raked him over the coals somewhat. And then the next day, Chiang announces his resignation after a RCMP investigation became known. Like I said, Carney is Trudeau 2.0 and has deep China ties.
Who is Mark Carney?
I saw a recent Liberal election add that claims Carney as Bank of Canada governor led Canada out of the financial crisis and then as Bank of England governor led them out of the Brexit crisis, so he is the best person to deal with President Trump.
You could look at this two different ways. Above and -The financial crisis hit Canada while he was bank governor and the Brexit crisis hit the U.K. while he was bank governor. The housing, health care, immigration, drug and crime crisis (economic crisis) hit Canada while he was Trudeau's economic advisor.
I know he really had nothing to do leading Canada out of the 2008 financial crisis. Canada avoided most of it because Canadian banks were very conservative and did not buy any of the U.S. toxic mortgage backed securities and Canada did not have a housing bubble then. Ironically Canadian banks did not learn and they have now financed a housing bubble in Canada.
The banks have been increasing their loan loss provisions every quarter and in the last quarter the big 5 banks set aside over $5 billion for loan losses. This number will take a big jump as Canada slides further into a recession and the housing price correction picks up speed.
Will Mark Carney be able to protect Canada's national interests because he has massive financial conflicts of interest overseas, namely China? We already see above how he stuck up for Paul Chiang.
Brookfield Asset Management - the influential $900 billion Canadian investment fund from which chairman Mark Carney stepped away from in order to replace Justin Trudeau as Canada’s leader moved from Toronto to New York recently. So Carney's Brookfield is just more of the exodus from Canada to the U.S.
Brookfield maintains over $3 billion in politically sensitive investments with Chinese state-linked real estate and energy companies, along with a substantial offshore banking presence. That Carney was involved orchestrating. One of its major real estate ventures, a $750 million entry into high-end Shanghai commercial property in 2013, involved a Hong Kong tycoon affiliated with the Chinese People’s Political Consultative Conference (CPPCC), which the CIA labels a central “united front” entity of Beijing.
Mark Carney would meet with Chinese central bank officials in October 2024 to negotiate a loan for the Carney-chaired Brookfield Assets Management while he was economic advisor to former Prime Minister Justin Trudeau. Carney left with a 1.96 billion yuan or $276 million (CDN) loan.
Before that, Carney went over for meetings in Beijing, where he had secret talks with the deputy governor of the Chinese central bank. Two weeks later, Brookfield got a quarter-billion dollar loan. While Carney is no longer chairman of Brookfield, it is his baby, really shows his colours and where he is coming from.
Canadians are also being fooled today with Carney's removal of the carbon tax just before the election. This is just an election gimmick and if elected he will put the carbon tax back on but it will be hidden from consumers. In Carney's 2021 book “The best approach,” Carney says, “is a revenue-neutral, progressive carbon tax.” He goes so far as to say “The Canadian federal carbon pricing framework is a model for others.”
I am not bashing Carney, simply telling it as it is. Canadians should know who they are voting for.
While looking around today, I saw this 3 minute video by Poilievre, worth watching. See what both say and do, than make up your own mind. At least Poilievre is an elected leader rather than an inside appointed leader.
Gold Uptrend to Continue
In this gold bull move of the last year or so, there has been a consistent pattern of runs up to record highs, some consolidation and then running higher. I think this particular run will probably peak later in April, then consolidate.
Viscount Mining - - - TSXV:VML - - - - - - Recent Price - $0.62
Entry Price - $0.27 - - - - - - - - Opinion – take part profits
It has been a while since I updated Viscount but it has had a big run in the past month and we should take part profits, selling 1/4 to 1/2, what suits your portfolio best. It looks like short term, this run has peaked. However, drilling is underway so results to come.
Just over a week ago Viscount announced completion of the first deep drill hole on the Passiflora in Silver Cliff, Colorado.
The first drill hole completed to a downhole depth of 1,143 metres at the Passiflora has intersected continuous sulphide mineralization throughout the entire length of the hole. The drill hole identified disseminated sulphides, as well as more massive zones and abundant veins, that are present over an interval of 1,100 m. Pyrite and chalcopyrite was first identified at 465 m, followed by galena at 854 m and sphalerite noted tentatively at 213 m, but more confidently farther down the hole. Magnetite was noted in trace amounts at 680 m and biotite at 125 m. Argillic alteration was encountered below the overburden, and around 200 m, it seems to change to phyllic alteration. Much of the hole after showed abundant overprinting of different types of alteration. Also, three mineralized breccia zones were identified during preliminary logging. Chalcopyrite is a brass-yellow mineral with a chemical composition of CuFeS2. It occurs in all copper porphyry deposits and is the main copper mineral in the porphyry systems.
This drill hole sounds very good and is in part what moved the stock higher. These days you never know if a stock will sell off on the drill news or spike higher. Since we are up over 100%, we should take some profits but keep a position if the stock takes off on drill news and we eventually get a strong silver bull market.
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