Saturday, July 25, 2009

Yes, but then Mark Carney is a world authority on wealth destruction

Yesterday in the Globe it was reported that: “"Yet Bank of Canada Governor Mark Carney stopped short of celebration, saying it will take more than a year to replace the wealth destroyed by the financial crisis. "

Mark Carney is a world authority on wealth destruction, having personally been responsible for evaporating $35 billion of Canadians’ retirement savings and the source of billions in annual taxes to Ottawa, as a sole result of his scheme to kill income trusts based on his fabricated tax leakage argument.

Unlike the losses sustained by investors as a result of the “financial crisis”, the losses sustained by investors under Mark’s Own Financial Crisis are permanent losses...never to be recovered......since 31.5% of the income has been hived off by the government as the means to kill income trusts in order to ensure the dominion of the corporate model at the behest of corporate CEOs in Canada.....and a perpetuation of all the corporate abuses that brought about the world’s financial crisis.

PS: Where’s Mark’s proof of tax leakage? How is Canada better off as a result of, for example Abu Dhabi owning Prime West Energy or OMERs owning Teranet or the leverage buyouts of Canadian trusts by US Private Equity players, none of whom pay any taxes, rather that having these companied owned by average Canadians who were paying taxes at an average annual rate of 38%?

Did Mark Carney pass Grade 3 math? Is he capable of basic addition and subtraction, or will 2 plus 2 equals 3, remain the unchallenged falsehood of Mark Carney’s wealth destruction formula? One thing is for sure, Mark Carney’s intellectual dishonesty has been the means for his rapid career advancement......even if it meant destroying $35 billion of Canadians’ retirement savings and destroying the only means by which many Canadians had a hope for a dignified retirement. I guess, some people are more ambitious than others?

Meanwhile, just exactly where are our Paid Elected Members of Parliament who are supposed to defend us from blatantly obvious schemes like the one hatched by the overly ambitious Mark Carney at the behest of many of his former clients at Goldman Sachs? Is losing $35 billion of Canadians’ retirement savings not on their radar screen? Just who do they think they are elected to serve? The CEO’s of Canada or the taxpayers of Canada?


Anonymous said...

Those who gather, filter and report the news have since 2005 filtered out much of the news and history that was market positive for income trusts. In 2004, the provincial governments approved legislation to grant limited liability to income trust investors. In 2005 Harper made his promise never to double-tax income trusts.

Meanwhile Carney was working in the background at Finance. Was there some kinda of pump and dump scheme going on?

Dr Mike said...

Doesn`t all of this make you wonder what the frig is really going-on behind our backs in Ottawa.

We only get snippets fed to us like the sheep that we are.

Allowing the Cons to get away with the Tax Fairness Plan is just one in a far-reaching line of decisions determined , not by us , but by those in Canada who sit on the gov`t`s right hand , the Manulifes & Power Corps.

Either the Members of Parliament are so conceited that they think they know what is best for us all or they just don`t care as something or someone else is far more important.

Could it be that it is only about power , the power of the few to be used against the many.

Dr Mike

Anonymous said...

It seems to be more true with each passing day that ``Goldman Sachs rules the world.`` Mark Carney plays on the GS team and not the Canadian team. How did we get into this mess?