Canadian Voter Podcast—Episode 5: Canada's Federal Political Leaders And the Start of the Campaign

It's official. Mark Carney, the Prime Minister of Canada, has called an election for April 28, 2025.

Mark Carney, a rookie politician, has held many jobs throughout his career but has never been elected. He spent 13 years at Goldman Sachs, working on South Africa's post-apartheid venture into international bond markets, and was involved with the 1998 Russian financial crisis. From 2004 to 2007, Carney was the senior associate deputy minister at Finance Canada. He then became Governor of the Bank of Canada, and in 2013, became Governor of the Bank of England. After leaving the Bank of England, Carney became a vice chairman at Brookfield Asset Management and an informal advisor to Justin Trudeau. On March 14, 2025, after winning the Liberal leadership race, Carney became Canada's 24th Prime Minister.

To those asking how Mark Carney could become Prime Minister without having a seat in the House of Commons — to put it simply, the rules are flexible. A political party may choose a leader who is not a parliamentarian (like Carney), or a situation might arise in which, during an election, a Prime Minister loses their seat but then runs in a by-election to regain one. So even if Mark Carney does not win a seat in the election, but the Liberals can form a minority or majority government, he would still be Prime Minister. In the interest of Canadian democracy, though, it is good to see Carney seeking a seat in Parliament as soon as possible, as he is the head of government, and the Prime Minister should be in Parliament to answer for the executive. One of Parliament's primary jobs is to hold the executive to account.

Pierre Poilievre, an elected MP since 2004, is leading the Conservatives. In Stephen Harper's Government, he was a Parliamentary Secretary for the Treasury Board, Intergovernmental Affairs, the Prime Minister, and Transport, Infrastructure, and Communities. He also served as the Minister for Democratic Reform and Minister of Employment and Social Development. Since September 2022, he has served as the Leader of the Opposition.

Jagmeet Singh has led the New Democratic Party through two elections since 2017. Before federal politics, he became a criminal defense lawyer and was a Brazilian jiu-jitsu champion. After representing an activist group that failed to get its views heard, Singh was inspired to run for political office. Singh also won elections for seats in the Ontario provincial legislature in 2011 and 2014.

The Green Party of Canada has two leaders: Elizabeth May, who was the founding executive director of the Sierra Club of Canada in 1989, was the first Green MP elected in 2011. And Jonathan Pedneault, whose earlier work included journalism and investigative work with Human Rights Watch, is the other co-leader.

The Bloc Québécois is once again being led by Yves-François Blanchet, who has been an MP and party leader since 2019. Before entering federal politics, he worked as a teacher and was president of the ADISQ, a nonprofit organization supporting Quebec's independent music industry. He also has experience as a member of the National Assembly in Quebec as Minister of Sustainable Development, Environment, Wildlife and Parks from 2012 until 2014.

As of day two, the big announcements from the Liberals is that they will cut income tax by 6.6% for someone earning at least $57,375 dollars, and in a surprise move, stated that Mark Carney will not participate in the TVA French-language debate, leading the TVA to cancel it. Pierre Poilievre also announced an income tax cut for those earning at least $57,375 dollars; however, the conservatives will cut the tax by 15%, not just 6.6%. In another twist, CSIS alleged India organized support of Poilievre’s...

Hosted on Acast. See acast.com/privacy for more information.

On March 2nd, the US Administration announced it would move forward with a "Crypto Strategic Reserve," which is expected to include Bitcoin, Ethereum, Cardano, Solana, and XRP. In the past, other countries, such as the Czech Republic, Switzerland, Russia, and Japan, have also discussed creating a Bitcoin reserve; however, with Donald Trump's announcement on Truth Social, the US might push other countries and corporations to move.

Now, I am not an attorney, accountant, financial, or technical adviser, but it would seem that for Canada, a country that takes 13 years to buy trucks for its military, creating a strategic cryptocurrency reserve will most likely never happen. And let's not forget that Bitcoin and other cryptocurrencies are known to be very risky. That said, in December 2024, Vancouver's mayor, Ken Sim, got a motion passed by the city council to explore making the city "Bitcoin-friendly."

Within the text of the motion includes the point that "It would be irresponsible for the City of Vancouver to not look at the merits of adding bitcoin to the city's strategic assets to preserve the city's financial stability."

Regarding the Federal Government, I don't expect the NDP or Green Party to suggest a reserve. However, Pierre Poilievre, leader of the Conservative Party, has indicated that he is in favour of Bitcoin. On January 6th, 2025, David Bailey posted on X that "Pierre Poilievre will deliver Canada a Strategic Bitcoin Reserve."

As for the Liberal Party, the last time I remember them talking about Bitcoin was in November 2022, when one Bitcoin was worth $16,500 US, and Chrystia Freeland said in Parliament,

"Let's talk about some really terrible advice that was offered to Canadians in the spring by the Conservative leader. He urged Canadians to invest in crypto as a way to opt out of inflation. Now, bitcoin has crashed by 21 percent over the past week and by more than 65 percent since the Conservative leader first gave Canadians that reckless advice...The Conservatives should apologize today for this reckless policy and admit that investing in crypto would have bankrupted Canadians."

At the time of recording this podcast on March 3rd, 2025, Bitcoin's price was over ninety-thousand dollars US.

Thank you for listening. Until the next episode, we hope you take care and stay curious about what our political establishment has done and are planning to do in the future with your rights and your tax dollars.

Disclaimer: At the time of this podcast, the host has investments in and\or related to bitcoin (ETFs). This podcast is provided for informational purposes only and should not be construed as personalized investment advice, nor should it be viewed as a “News Source”. All investing involves risk of loss and the author does not guarantee any specific investment outcomes.

Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.