CTH continues to get considerable questioning about how the U.S-Canada fracture will take place, what it means for the Canadian dollar (CAD) and when the issues can be expected to apex.  It appears that part of the reasoned disconnect people are struggling with is directly related to the messaging from the Canadian government in combination with the financial media.

In short, despite the increased trade friction, a decoupling of the U.S. economy from the Canadian economy just seems unfathomable to most observers. The main question we receive is ‘when will things happen‘?  Meaning when will financial markets react?  The most obvious answer to that question is, when the USA announces the termination of the USMCA (CUSMA) trilateral.

If you hold the opinion that all of these trade friction points will be resolved within the margins of the USMCA, then it is correct to predict that no significant material impact will be felt north of the border.  If, however, you hold the opinion that the USMCA will be terminated because the core of the issues between the two countries are irreconcilable, then the material impact will come as soon as that announcement is made.

Alberta Premier Danielle Smith, the only Canadian government official to attend President Trump’s inauguration, appears on Fox Business. Like all other Canadian officials, she cannot contemplate the elimination of CUSMA/NAFTA.  Such an outcome is simply beyond her comprehension. WATCH:

In previous interviews and broadcasts, Mrs Smith claimed if Canada was to introduce an export tax the USA would respond accordingly.  This is not accurate.  The U.S. has no mechanism to place a tax on exports.

Additionally, inside Canada the structure is provincial.  That means each province taxes each other province for goods and services.  In the USA we have state sales taxes, but those taxes are applied across all goods sold to/inside an individual state.  Ex. Florida does not tax Texas.  Florida has one sales tax for all goods regardless of their origin.

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This is a must watch interview.  Most Americans have no idea that Canadian media is controlled by the Canadian government; it’s what they call “cultural protection” where the rules and regulations of permissible speech are controlled by govt regulators and media are subsidized by govt.  The overall objective is to control information and censor viewpoints that might be averse to the interests of the Canadian govt. That’s why most Canadians have no concept of granular details on policy matters; they just don’t get the information.

In this interview with the Canadian Broadcasting Corporation (CBC), U.S Trade Representative Jamieson Greer is discussing the trade conflict and breakdown with Canada’s version of Baghdad Bob, Rosemary Barton.  I’m a little surprised the CBC would even entertain the discussion. However, as noted in the past few days there is increasing skepticism amid Canadians about who and what actually blew up the trade talks. Canadians are starting to show signs of suspicion; enter Ms. Barton on behalf of the Canadian government to try and control things.

USTR Jamieson Greer answers the questions in a most unfortunate manner; meaning, he told the truth.  Greer outlined exactly why he suspects the trade talks broke down, and it has nothing to do with economics or trade, it’s all politics on the Canadian side.  As Greer noted, there was no change to the trade agreement between President Trump and Prime Minister Carney’s lengthy phone call on Tuesday, and the Canadian decision to walk away on Friday.  Greer was being very diplomatic, but Barton started getting the vapors. WATCH:

Greer noted the Carney administration had requested “Fortress North America” a synergetic alignment of U.S-Canada trade principles.  Canada wanted a united North American continent against the world on trade.  Therefore, this talk of Canada being upset about joint collaboration and agreement on trade agreements with third countries, a point brought up by Carney in the walk-away just doesn’t make sense.

If you want a united trade policy for North America, then each nation in North America must hold the same baseline on terms and conditions with other nations.  That was the discussion. Those were the agreed principles; until all of a sudden Canada accused the U.S. of dictating terms.

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There are many people in Canada demanding to see the rough draft proposals of the U.S-Canada trade agreement so they can judge for themselves the issues that Carney claimed were irreconcilable.  For those people this interview today by Canadian Trade Minister Dominic LeBlanc will only embolden those requests.

Trade Emissary LeBlanc outlined the major fracture points that drove Prime Minister Mark to reject the deal. I’ll put the full interview below which everyone should watch because what LeBlanc outlined is rather funny.  Carney was obviously looking for a reason to walk away, because the fracture points were ridiculously small.

Essentially, it boils down to four issues. !1) Removal of tariffs on Canadian assembled Semi-Trucks. (2) U.S. streaming services writing code for “search engines” in the French language. (3) Canada demanding 5% of gross revenues from U.S. tech platforms, and the last one is silly because it already exists: (4) the U.S. having a right to reject a trade deal made by Canada with a non-market economy, ie. CHINA.

Taking the issues one by one we start with ♦U.S. tariffs on Canadian Semi Trucks.  Canada wanted tariffs on Big Rigs removed. The U.S. said no.

The reason is simple.  Big Rigs assembled/built in Canada are falling apart in the USA. Why? Because they are full of cheap Chinese component goods and parts that wear out quickly.  The U.S. wants two things on this issue. Either: (1) Make them in the USA, or (2) stop using cheap Chinese component parts.  The parts that Canada are using are not even available in the USA because we tariff and reject them, so why should we accept them when Canada installs them?  Either quit using Chinese parts (hence, the trade alignment against Chinese imports), or accept a tariff equal to the rate we would apply if the product was coming directly from China.

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When I watch this type of debate, I am reminded why I stopped watching Fox News. Islamic Communist Abdul El-Sayed repeatedly claims Immigration and Customs Enforcement (ICE) is not needed, because the Immigration and Naturalization Service (INS) used to handle deportations. He says why do we need ICE when INS used to work just fine.

Big hair Watters could just easily say, because when the INS was in operation, we had less than a million illegal aliens and now we have 50+ million; that’s why. But no, they end up talking in circles about an issue that is a priority of most American citizens.

On each issue, it is very easy to take apart Abdul El-Sayed with policy facts and structural realism. However, that wouldn’t work for the communist cause, so Jesse Watters instead just banters for the audience giving legitimacy to the nonsense. Extremely annoying.  Both of these guys are the problem.

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At the core of the issue is the administration executive order that requires states to send their voter rolls to the U.S. Postal Service for mail service for mail-in ballots.  The USPS would then cross-check with DHS and Social Security records to ensure each of the names and addresses were eligible to vote before mailing them a ballot.

Obviously, the blue states -Democrat States- are refusing to comply with the USPS rule, the reason is simple.  A significant number of the blue state registered voters are not eligible voters (illegal aliens etc.)  If the states allowed cross-checking of their voter rolls the American people would see just how many illegal voters are registered; this would significantly reshape the U.S. election.  The scale of the issue is up for debate.

That said, the anxiety forms the baseline of opposition where blue states are suing in every court possible to stop the postal service requirement. The Trump executive order also directs the Postal Service to block delivery of mail-in ballots entirely from states that refuse to share voter lists with the federal government.

Today the Supreme Court ruled 6-3 [RULING HERE] that lifted one of the lower court injunctions that was filed as a lawsuit in Massachusetts. The court ruled that Boston-based Judge Indira Talwani (Obama appointee) engaged in “a string of speculations to find this suit justiciable.”

[SOURCE]

The three DEI justices (Brown-Jackson, Kagan, Sotomayor) all dissented from the majority opinion, because of course they did.

WASHINGTON – […] More than 20 blue states sued to block Trump’s order, saying it threatens to upend their planning for the midterms in November and intrudes on their authority to administer elections.

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This is a pretty good encapsulation of the relationship between Canadian Prime Minister Mark Carney and the DNC officials within the United States. Although Kokinda missed mentioning the meeting between Barack Obama and Mark Carney shortly before the G7 summit in France.

After Prime Minister Mark Carney abruptly pulled Canada out of U.S. trade talks and framed the dispute as a “war,” this episode argues the rupture isn’t really about tariffs but about political and financial strategy aimed at the U.S. midterm elections. Citing U.S. Trade Representative Jamieson Greer’s account of negotiations and Canada’s unique retaliation, the script claims Carney is pursuing “geo-industrialization” and a “donut strategy” to go around the White House and influence American public opinion, aided by U.S.-connected advisers and outreach to mostly Democrats.

Kokinda also highlights comments from Iran’s foreign minister about U.S. debt and links the broader conflict to competing economic systems. The episode concludes that Treasury Secretary Scott Bessent is fighting a parallel battle to manage risks from the yen carry trade using tools like FIMA to prevent destabilizing Treasury selloffs.

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Every time he has the opportunity, Canadian Prime Minister Mark Carney reminds the world he views Canada as a part of Europe.  As the trade conflict between the USA and Canada deepens, Mark Carney looks toward Europe for a financial and security lifeline.

During remarks earlier today Commonwealth Prime Minister Carney noted his intention to join with Europe this fall for increased economic and national security.  This is an alignment the former Bank of England head has been operating since his installation. [X Link]

🇨🇦🇪🇺 I will condense my many tweets on the subject here:
– Europe’s financial and banking system is about to collapse due to insufficient collateral.
– The war in Ukraine was meant to collapse Russia and take its resources for the needed collateral.
– The war in Ukraine failed,…

— Northern Sceptic (@NSceptic11501) August 24, 2026

From my perspective this is Commonwealth banker Carney’s financial hedge against the looming USMCA termination.

Carney will be counting on U.K and EU financial support when the Canadian dollar declines quickly.  You might remember the Bank of Canada warning about this.

May 2026: – […] A cascading series of events could cause a sharp loss of investor confidence and lead to a spike in demand for liquidity or rapid asset sales. Funding markets could come under pressure, and stress could spread more broadly.

To be clear, the FSR is not about what we expect will happen. It is an assessment of how existing vulnerabilities—or pockets of stress—could amplify shocks and ultimately spread across the financial system.” (more)

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Generally speaking, when the FBI seizes devices it’s usually to bury them and protect affected interests in/around Washington DC. Rarely, if ever, does the confiscation of electronic devices result in any public awareness of the contents – unless the release runs in alignment with the interests of those in Washington DC.

EX. If it was the confiscation of electronic devices deemed adverse to the interest of DC (Donald Trump, Rudy Giuliani, Scott Perry, Mike Lindell, etc.) then the content of those devices is publicly exposed. However, most confiscations are to protect the guilty – therefore they are buried. SEE: Hunter Biden laptop, Huma Abedin laptop, Anthony Weiner cell phones, Hillary Clinton phone(s) and laptops; Awan Brothers laptops (4) and phones; Seth Rich phone and laptop; Jeffrey Epstein, phones, laptops, hard drives; Stephen Craig Paddock phones and laptops, Syed Rizwan Farook/Tashfeen Malik cell phones, Tamerlan and Dzhokhar Tsarnaev phones and laptops; Senator Bob Menendez, phones and laptops etc.

Therefore, accepting things as they are most likely – and not as we would prefer them to be – it is best to think of the recent story as one of protecting the downstream issues from Eric Swalwell, as they are associated during his tenure as a targeting conduit for the House Permanent Select Committee on Intelligence (HPSCI) and later as a Trump impeachment manager and J6 Committee official.

WASHINGTON (AP) — Federal agents seized electronic devices from former Rep. Eric Swalwell and searched his Washington home as part of an investigation into allegations of sexual misconduct by the ex-Democratic congressman from California, according to a person familiar with the matter.

Swalwell’s devices were seized at the San Francisco airport on Saturday and agents executed a search warrant at his home a day later, said the person, who was not authorized to publicly discuss an ongoing investigation and spoke on the condition of anonymity.

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The story of Jason Arday is one of the strangest and yet embarrassingly sad representations of political correctness, Diversity, Equity and Inclusion running amok. [Recap of Absurd Stories Here]

After one of the most ridiculous and absurd life stories was seemingly accepted by the Cambridge University academic community, they raised Jason Arday to a professorship of sociology and education in 2023.  Then slowly it surfaced that the guy was a professional plagiarist and was passing off the academic work of others as his own.

Everything unraveled as those outside the university system started looking at Arday’s scholarship and life claims.  The absurdity of it all ended up with massive embarrassment for the university and those within it.

Arday resigned in disgrace; but prior to the discovery of his fictitious life story being sold as real, he signed a book deal which was scheduled to launch this week.  I suspect the publisher did some serious hindsight research and discovered the material in the book was entirely made up.   Something happened, and today Mr Arday was found dead.

Daily Mail – […] Professor Jason Arday was found unresponsive at a London address shortly after 3pm on Friday.

It comes after a tumultuous few weeks in which fellow dons had questioned if the 41-year-old academic’s work was original.

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SPLC Chief Financial Officer Heidi Beirich was previously identified as one of the Southern Poverty Law Center (SPLC) leaders who assisted in “opening bank accounts” with “fictitious companies’ names” to make payments to hate group leaders.  Apparently, she was in a romantic relationship with a Nazi whom she funded.

According to CNN: Beirich has been charged as part of a superseding indictment with wire fraud conspiracy, conspiracy to submit false statements to a federally insured bank and conspiracy to conceal money laundering. {citation}

CALIFORNIA – A former Southern Poverty Law Center finance officer was arrested Wednesday over her involvement in secretly paying informants in white supremacist groups.

Heidi Beirich was apprehended in California, CNN first reported. Attorney General Todd Blanche confirmed at an unrelated news conference at DOJ headquarters that “there was an arrest made” in the case. (more)

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