Trump Seethes as Canada Lures Billions From US Banks

0:28The right window treatments change everything. summer's full of reasons to look your best Tecovis has everything you need to show up in style their western boots are handcrafted in over 200 steps by hand with premium calhide and exotic leathers stop by your local Tecovis store for the full experience free drinks, boot shines, and complimentary boot branding to make your pair truly yours their team is there to help you find exactly what fits your summer and of course, you can always stop by Tecovis.com Tecovis, forever west The GLP-1 pill you've been waiting for is now on Rho. Yep, it's finally here.

1:05With the same clinically proven ingredient. Now in a pill. And now on Rho. It's the first FDA-approved GLP-1 pill for weight loss. At the lowest price available, that's one daily GLP-1 pill for big results. Now on Rho. Go to Rho.co slash listen to see if you qualify. Rx only. Go to Rho.co slash safety for serious side effects and boxed warning associated with GLP-1. insurance operations today are fragmented and policyholders expect more that's why leading insurers run on adion from premium collection to claims payout adion supports the entire insurance value chain giving insurers full control over how money moves a single platform to reduce fragmentation complexity and risk drive revenue control claims cost and power your next move with Adyen.

1:56Learn more at adyen.com. Even the U.S. banks and financial services are backing Canada as Mark Carney does an exquisite pirouette and pivot to rebuild the Canadian economy all within several weeks and months, holding the first ever Canadian Investment Summit. And guess who's in the room? Major financial institutions from America like Blackstone and BlackRock, the Chinese Investment Fund, Singapore Investment Fund, you name it. They're in the room representing over a trillion dollars worth of investment. And Canada is telling them, bet on Canada, bet on Maple. And you bet your bottom dollar it's going to be successful with people like Doug Ford and Mark Carney in charge.

2:46I'm Michael Popok. You're on the Midas Touch Network to kick off the week. What a great idea to have a Canadian investment conference, put it in Toronto and Ontario province and bring together BlackRock and Blackstone and Barclays and the Chinese and the Saudis and the UAE investors and Singapore and make the case for investment in Canada. One of my favorite moments is when you look at what Canada has put up in their online about why you should invest in Canada. It's just the ultimate troll of Donald Trump and the United States. Listen to what they put up on the screen when you go on to the Investment Summit website.

3:31Canada has what the world wants. Choose Canada. Invest in Canada. The world is changing rapidly. In response, Canada is focused on what we can control. We're building a stronger economy with an ambitious plan to catalyst$1 trillion in total investment over the next five years. But here's my favorite part where they give the stats. It says Canada has what the world wants. We are a reliable, stable partner in a world that is anything but. I wonder who he's talking about there, who Canada's talking about there. Who's not reliable? Who's not stable? Who's caused the world to spin off its axis? Right, current occupant of the White House.

4:20And then they talk about the strength and positioning of Canada with stats that are going to blow you off your chair, especially when compared to the United States. For instance, it says that in their list of why you should invest in Canada and not in the United States, it says that their sovereign rating, their credit score is AAA and stable. Meaning when they borrow money or when they pay back money, they can do it at a slightly lower interest rate. America, AA+. Sounds like it's good, AA +, but it's not AAA. and it's one or two notches down in the ratings between Canada and the United States.

5:02And I think you're going to know why when I give you the next stat. The government debt versus the gross domestic product, right? What percentage of their gross domestic product are they in debt? Canada is 10.2%. America is 97%. Do you hear what I just said? 97 percent. Our GDP barely covers our total debt. That's why the debt's in the trillions of dollars. We barely keep pace. We're running on a very thin margin here under the Trump administration, whereas Canada is safely only having a debt ratio of about 10 percent. In terms of foreign investment, Canada is extremely strong. It's the number two country of getting equity flows in 2025.

5:55America was number one, but when they were close on its heel, the total amount that they brought in in equity being invested in Canada for 2025 was$44 billion versus$100 billion by the United States. Sure, America was 2.2 times bigger, But think how much bigger America is economically than Canada. Education age, where people have gotten to college, 25 to 64. 65 % of Canadians have a college degree, 51 % for America. And same thing with adult literacy rate. Banking stability. The Canadian government is number one among the G7. And the United States is not. But when you put all these people together, of course, you're going to get good things out of it.

6:47And I love the fact that there are American banks betting on Canada in this trade war. Barclays, Blackstone, BlackRock are all leaders in financial services. And they're putting their money where their mouth is. A trillion dollars and five years of investment in Canada. I think it can even be more than that. When you throw in the Chinese as well. And the Chinese took a page from the Canadians or the Canadians from the Chinese. when they talked about, hey, you want a stable and reliable trading partner? Come to us. It's saying a lot that China's competitive advantage right now against America is to tell its stakeholders and counterparties, we're more stable than the other guy.

7:29Bet on Maple. That's the way to go. We just had Doug Ford, who's the premier of Ontario, who's one of the hosts for this economic Investment Summit. Talk about it's time to fight like never before. Play the clip. But these are the things we have to move on quickly as fast as possible. It's not normal times anymore. It's economic wartime. And we all have to put our political stripes aside and start all working together and moving forward. Before I found Noble, I never really thought about how easy it could be for someone to get into a regular zippered suitcase. Between airlines, hotels, and overhead bins, your bag is out of your sight all the time.

8:13That's why I've been loving the Noble All-in-One Carry-On. It's completely zipperless with secure latch locks that close like a safe, so when it clicks shut, you know it's locked. On top of that, it's packed with smart features, a built-in charging port, a front laptop pocket that makes TSA so much easier, a flip-out cup holder that I use constantly, and smooth 360-degree wheels. They've sold over 500 ,000 suitcases. They're the highest-rated luggage brand in the category on Trustpilot. Over 12 ,000 flight attendants and pilots swear by them, and even TSA agents say it helps prevent theft and tampering.

8:53Every suitcase also comes with a lifetime warranty, a 100-day money-back guarantee, and free three-day express shipping. Noble gives you real travel peace of mind, security, design, and convenience all in one. Head to nobletravel.com for up to 46 % off your entire order. That's n-o-b-l travel.com for up to 46 % off. After you purchase, they'll ask you where you heard about them. Please support our show and tell them that our show sent you. And of course, Mark Carney, who's become just so adept and so skilled at connecting with the Canadian people. He puts out like a video a day or every two days explaining exactly, transparently what's happening, what he's doing and why he's doing it.

9:48usually with US as the punchline. And he has a great video up, a 20 minute video up of a speech welcoming this trillions of dollars of financial services investment into Canada for this two day summit in Toronto. Let me play a clip. There is a new consensus in this country, from Iqaluit to Victoria, to Quebec City and St. John's. And that consensus is that Canada Canada is taking control of our future.

10:28We will build more. We will trade more with each other. We will trade more with the world and we will create sustainable prosperity here at home. Now tomorrow, as you know, a number of you have made this happen. tomorrow something remarkable will happen. The world's largest investors managing over 120 trillion dollars of assets will come to here into our shop window because the world is looking at Canada differently and I'd suggest we should look at ourselves differently too. It's not about who we aren't, but who we are. It's not about what's lost, but it's what we have and what we can create.

11:22We are kind, generous, hardworking and ambitious people. We have what the world wants, the energy, the resources, the talent, the technology, the capital. And our greatest This strength is something that can't be found on any balance sheet. Trust. Donald Trump has been very, very successful at altering, maybe for generations, relationships between the United States and its global allies or what was once its allies. I'm not sure we ever get back to where we were before in terms of a level of trust by our counterparties. not when we threatened NATO, not when we threatened to abandon them in their time of need when they're attacked.

12:10Something that Mark Carney reminded Donald Trump about in the 25th anniversary of 9-11, that Canada was by the side of the United States during 9-11. I mean, there was planes that ended up landing in Canada because they were diverted, had to be grounded. And those Canadian towns hosted all of those people, you know, as there's a whole Broadway musical about it. Canada has been by, since World War I, it's been by the side of the United States in war. Coalition of the willing, coalition of the, we can't, nobody's willing except for Canada. And yeah, this is how we treat our neighbors, threatening their sovereignty, saying we're going to forcibly make you a 51st state.

12:55And you wonder why they're considering nuclear weapons in Canada to fight off against this existential threat that's posed by Donald Trump in the White House. And so it's a good thing for Canada to not rely on one trading partner. It's a good thing to strengthen its internal industries in the provinces and to look both inward and to look for other counterparty trading relationships around the world. We've basically turned Canada's head away from us and towards places like China. And that's on Donald Trump. Question is, are we ever going to be able to turn it back? I think from a Canadian standpoint, it's a good thing that they have strengthened their resolve and their own internal industries and leaned into their competitive advantage.

13:42I think a future president will have to extend the olive branch and work very, very hard to reverse the damage done by Donald Trump. I hope Mark Carney is in office. I'm sure he will be when the new American president takes over. And through a level of diplomacy and economic embrace, we're able to put that relationship back where it belongs, favored nation status between the United States and Canada without threatening its sovereignty or its heritage. I'm Michael Popak. You're here on the Midas Touch Network. Come over to Legal AF YouTube channel. Our birthday party coming up in three days. We will have been on the air for two years.

14:26We are 1.23 million subscribers strong and growing. We have over 805 million views in that two-year period of our work there. Ten new videos a day. Come over to Legal AF YouTube channel and join us before our birthday in three days. Until my next report, this is Michael Popok. Can't get your fill of Legal AF? Me neither. That's why we formed the Legal AF Substack. Every time we mention something in a hot take, whether it's a court filing or a oral argument, come over to the Substack. You'll find the court filing and the oral argument there, including a daily roundup that I do call, wait for it, Morning AF.

15:06What else? All the other contributors from Legal AF are there as well. We got some new reporting. We got interviews. We got ad free versions of the podcast and hot takes where legal AF on Substack. Come over now to free subscribe.