The problem isn’t Bitcoin. The problem is what happens when the man making government policy can personally profit from the industry that policy helps.
🇨🇦💙 Keep calm and Carney on. While Governor of the Bank of Canada, Carney faced intense pressure not only from U.S. authorities (including the Federal Reserve and the Treasury Dept. under President George W. Bush) but also from Canadian financial institutions, global rating agencies and domestic political/business leaders to relax Canada’s strict mortgage‑securitization rules and allow more U.S.-style asset‑backed securities into the Canadian system.
Carney absolutely refused - decisions later credited with helping Canada avoid the worst of the crisis while Iceland almost went bankrupt.
Today? Canada is insulated from a U.S. cryptocurrency crash because crypto is not legal tender in Canada, federal and provincial regulators treat it as a high‑risk speculative asset, and the core banking system is tightly supervised with strict capital and liquidity rules. Carney moved to tighten oversight with the 2026 Stablecoin Act (Bill C‑15)
Canadian investors can still invest in crypto but it’s their loss. Darwinism.
Roxy, there’s something very Canadian about this. 😁
We tend to complain about all the rules and regulations when everything is going well... then a financial crisis hits and suddenly boring looks pretty damn good.
That’s the part I keep coming back to.
People are free to speculate with their own money.
Bitcoin may make some of them rich and leave others wondering where their retirement fund went.
But there’s a huge difference between individuals taking that risk and governments putting the stability of the financial system behind it.
Canada doesn’t have to follow every American financial experiment just because we share a border.
Sometimes saying **“No thanks, we’ll keep the guardrails”** is exactly the right answer. 🇨🇦💙
I hope our banks stay safe from that scenario south, so we can make investments that are safe for us and our families. PM Carney has introduced an interesting Canadian Fund for us to invest in.
Carol-Ann, I’m watching the Canada Strong Fund too.💙
That idea really interests me... Canadians being able to put some of their own savings into Canadian infrastructure, energy, critical minerals and other nation-building projects, and then actually share in the returns.
There’s something I like about the basic idea...
**Instead of just buying Canadian, we may eventually be able to own a little piece of building Canadian.**
I’ll reserve judgment until we see the final rules, fees, protections and exactly how the retail investment works. “Safe” is a word I’m careful with whenever my money is involved. 😁
That is an interesting article. Thank you Fred. I don’t know much about crypto and I don’t think I trust it.
🇨🇦💙 Keep calm and Carney on. While Governor of the Bank of Canada, Carney faced intense pressure not only from U.S. authorities (including the Federal Reserve and the Treasury Dept. under President George W. Bush) but also from Canadian financial institutions, global rating agencies and domestic political/business leaders to relax Canada’s strict mortgage‑securitization rules and allow more U.S.-style asset‑backed securities into the Canadian system.
Carney absolutely refused - decisions later credited with helping Canada avoid the worst of the crisis while Iceland almost went bankrupt.
Today? Canada is insulated from a U.S. cryptocurrency crash because crypto is not legal tender in Canada, federal and provincial regulators treat it as a high‑risk speculative asset, and the core banking system is tightly supervised with strict capital and liquidity rules. Carney moved to tighten oversight with the 2026 Stablecoin Act (Bill C‑15)
Canadian investors can still invest in crypto but it’s their loss. Darwinism.
Roxy, there’s something very Canadian about this. 😁
We tend to complain about all the rules and regulations when everything is going well... then a financial crisis hits and suddenly boring looks pretty damn good.
That’s the part I keep coming back to.
People are free to speculate with their own money.
Bitcoin may make some of them rich and leave others wondering where their retirement fund went.
But there’s a huge difference between individuals taking that risk and governments putting the stability of the financial system behind it.
Canada doesn’t have to follow every American financial experiment just because we share a border.
Sometimes saying **“No thanks, we’ll keep the guardrails”** is exactly the right answer. 🇨🇦💙
Eye-opening article, detailing yet more of the trump out-and-out grift. Thanks for writing on this topic!
But what about Brookfield? They must own something related to Bitcoin, don’t they? Must be something for the conservative trolls here, come on, Fred?
😂 David, I went looking just so the Conservative trolls wouldn't feel neglected.
Brookfield is enormous, so I wouldn't be shocked to discover some indirect crypto exposure buried somewhere in its investment universe.
But I couldn't find evidence that Brookfield itself has a material direct Bitcoin holding in its latest public filings.
And even if we eventually find one, here's the test I'd use...
**Did Mark Carney personally make money from it while Prime Minister and use the power of his office to make that investment more valuable?**
If somebody can bring me evidence of that, I'll write about it.
Same ruler for everybody.
Until then, I'm afraid the trolls will have to keep digging. 😂
Sorry to waste your time, Fred. Was really just a sarcastic whine like we have grown so used to hearing!
I hope our banks stay safe from that scenario south, so we can make investments that are safe for us and our families. PM Carney has introduced an interesting Canadian Fund for us to invest in.
Carol-Ann, I’m watching the Canada Strong Fund too.💙
That idea really interests me... Canadians being able to put some of their own savings into Canadian infrastructure, energy, critical minerals and other nation-building projects, and then actually share in the returns.
There’s something I like about the basic idea...
**Instead of just buying Canadian, we may eventually be able to own a little piece of building Canadian.**
I’ll reserve judgment until we see the final rules, fees, protections and exactly how the retail investment works. “Safe” is a word I’m careful with whenever my money is involved. 😁
But this one is definitely worth watching.
Your advice on "safe" and being careful when money is involved, is appreciated and wise. Just watching, for sure.
Thank You, Fred.