Weak regulations make Canada a money-launderers playground, a report says – (reply)

There’s a myth being propagated by people who don’t understand how under the water the Canadian economy is. I don’t vote Liberal, however, I always make sure that I give credit where it’s due. Canadians should thank the Gods for Paul Martin, who did what Brian Mulroney’s administration couldn’t do, which was to revive the Canadian economy. Now a lot of what Paul Martin did we’re paying for now, but make no mistake about it, the loopholes in our corporate structure are necessary because as it stands now we’ve limited our options when it comes to trade. Below is a link to the CBC article I’m writing this post in response too.

Weak regulations make Canada a money-launderer’s playground, says report

Because of the Canadian economies dependence on regulations, a lot of the big Canadian companies that employ millions of Canadians would probably become extinct had it not been for government regulations. Currently, Canada is embroiled in trade talks regarding the renegotiation of NAFTA and Canada won’t budge because the truth is they can’t. If Canada allows Trump to renegotiate NAFTA on his terms, the Canadian economy is finished, well the Canadian economy as we know it today at least.

In most Canadian schools there’s little education about the dedication to starting a business in Canada, which is why if you look at most of the large companies in Canada, they’re typically government funded or government subsidized, one of the reasons Sears was able to go under without much Government interference is because Sears is an American company. If people remember Sears was one of the major buyers of legendary Canadian brand Eatons. Some observers believe that back in 2002 this move was to ensure that Sears would receive government help in the event it went bankrupt. Well, no such thing happened, primarily because as Sears began to die, WalMart and now Amazon have emerged as dominant players in the retail space.

Furthermore, I’ve often said that Hudson Bay, runs a very competitive business and one of the reasons for this, in my opinion, is that they have major holdings in the competitive U.S market which the Hudson’s Bay Company doesn’t isolate itself from. If you notice when it comes to most Canadian companies they’re often fearful to venture to the U.S on their own. Tim Hortons as an example sold out to Restaurant Brands International whose taken the risk for them in the more competitive U.S market. Being that going into a new market requires capital and risk, Former Premier of Ontario Kathleen Wynne’s minimum wage hike couldn’t have come at a worse time, being that Tim Hortons is struggling to score it big in the United States

Now for people that only understand the life of being an employee or a small business person, they’d look at RBI as and Tim Hortons as being greedy business people for not wanting to compensate their employees when the government passed a law, but it’s that type of thinking why Weak regulations make Canada a money-launderers playground in the first place. I know in a fiat monetary system the assumption is that money grows on trees, but no, money or any form of barter and trade requires integrity. Canada is very broke, but what keeps us afloat is all the money that flows through our country because of these lax corporate laws.

If the government cracks down on this, a lot of entitlements are going to be put at risk, what most people who are on the outside looking in are most annoyed by is the governments inability to tax this money coming in but for the government the money is there is the most important thing as they’re able to use it as reserve capital, it also props up the Canadian dollar as it makes it appear that a lot of legitimate capital is flowing through our economy.

This is always the problem of socialism, government intervention leads to these things because in order for the government to make good on it’s promises to voters it can’t turn its economy into Venezuela. Venezuelan socialism is the closure of free markets if you close free markets too much business won’t even exist in your country, which in time leads to your country being dependent on imports. When your country becomes dependent on imports what most socialist governments will do is grow the public sector. If you look at Trudeau’s Liberals and their cabinets job growth numbers most of the growth came from the government hiring government employees.

Now the bad thing about hiring government employees is that they tend to find problems with the free market everywhere, and in time they hope to redistribute the income being produced from the private sector into the public sector. There is no incentive for the public sector to be efficient, there is, however, an incentive for the public sector to appease the voters, now if the education system in Canada favors big government and most of the public education sector in Canada doesn’t teach Canadians about starting a business, it’s stupid to assume that they’ll understand how wealth is generated in this country.

Unless a Canadian as an individual citizen picks up a book and reads about the free market or capitalism it’s only fair that they’ll assume that capitalism is evil. This should be common sense, with that said it’s up to the private sector to educate Canadians about wealth creation, however with Trudeau’s Liberals in case you haven’t noticed they and the NDP have more than once attempted to put more limits on Canadian free speech. One of the reasons a lot of socialist countries have so many problems stems from the limits they’ve put on free speech. Hitler and most communist dictators want to make sure you think, talk and write the way they want.

When you think the way the government wants you to think they can rob you anytime they want, they can also create mythical stories about wealth creation which you’re forced to believe and lastly they can create devils or greedy people simply by only telling their followers 1 part of the story. This Weak regulations make Canada a money-launderer’s playground article by the CBC is true but what’s not being discussed is why those loopholes exist in the first place. If Canadians want to keep their welfares they’d better be careful what money they don’t allow into our country.

Interesting times ahead