July 09, 2019

Canada Pension Plan “Ponzi scheme” divests from US “detention centres” — but invests in Chinese surveillance companies

Ezra LevantRebel Commander


Exciting news today: 

According to the Toronto Star, quoting an NDP member of Parliament who referenced some public filings, the Canada Pension plan has sold off its stock in private companies that run migrant detention centres.

Never mind that a Human Rights Watch report shows Canada detains children who try to illegally immigrate to Canada, too — about 240 a year. Every country does. But it’s easier for the Toronto Star to hold Trump to account than Justin Trudeau. (And of course, Trump doesn’t have a $600 million bail-out for Canadian newspapers, does he?)

But I’ll come back to that news in a moment.

First, you need to know that no-one under the age of sixty is going to get their money back from the Canada Pension Plan.

It is not actuarially sound — as in, it’s not a true investment. The CPP pension plan started paying out right away after it was created. So those first retirees were just getting a government grant; They were taking money from future generations.

Today, your money, that you pay every time you get a payroll deduction, it’s not set aside for you, like with a real pension plan or a real bank account. It just goes into a giant pot. People who retired before you already spent some of the money; people retiring today are taking some of it. You literally could do better if you stuck the money in a mattress. Or, as normal countries might do, or normal pension plans, if they let you invest your money yourself, as many Canadian do with an RSP.

The plan's unfunded liability was last audited at $900 billion, and growing every year. They’re missing two-thirds of what they’d need to be able to keep their promise to everyone.

Few politicians have the courage to do anything about this. Stephen Harper was taking baby steps in this regard, by very slowly making the retirement age a bit higher. (Remember, when the CPP was invented in 1966, life expectancy in Canada was about 72, and you didn’t get your pension till you were 69. Now it’s been reduced to 65, and you can even get a partial pension at age 60. By the way, the life expectancy is now 82.)

But let’s put that aside for now.

The mandate of the CPP investment board is to make money — to do their best to pay at least a fraction of what you’ve given to the government in CPP taxes over the years. And they say they’re non-partisan — they make their decisions as professional money managers, not as political appointees.

That doesn’t mean they’re not infected by politics. 

Here’s their “report on sustainable investing.” Which is their way of saying, being a left-wing woke investor. This report uses the words “diverse” or “diversity” exactly 50 times.

But they don’t mean diversifying your assets, to manage the risk.

They mean affirmative action quotas.

The Canada Pension Plan does its due diligence into companies. Looks at companies that are doing well in business. Not just in Canada but around the world. Good business plan? Reliable team? Successful track record? Worthy of Canadians pension money? After all that due diligence, they get the investment from the CPP.

And then the CPP starts lecturing those company about replacing their management and directors with quota hires. Yeah, not smart. But I’ll come back to that in a moment. Because I think it’s a lie.

TONIGHT I'll explain what I mean by that. It matters: After all, this is (or, was supposed to be) your money.

Back to the news peg of the day, from the Toronto Star:

Canada’s largest pension fund has quietly divested from two American private prison operators deeply involved in the detention of thousands of Latin American migrants at the southern border of the United States, according to New Democratic Party MP Charlie Angus.

And you know, when I want an expert in pension funds and financial investments, I look no further than Charlie Angus, a social justice MP who plays a guitar.

Now let me point out a few other things about the CPP Investment Board that don’t seem to bother Charlie Angus or the NDP, or really anybody. Here’s a news story earlier this year, from BNN Bloomberg:

The Canada Pension Plan Investment Board, which manages around $368.5 billion (US$277 billion), is considering opening its first office in China as it seeks greater exposure to the world’s second-largest economy.

China has declared a trade war on Canada. And, if you care about, you know, diversity and human rights, there’s that little thing about two Canadian hostages.

Here’s a story in the Globe and Mail about just what the CPP is investing in, by the way. You’ll love this:

CPPIB conducts human-rights checks on Chinese investments amid use of surveillance equipment on Uyghurs

So we’re not investing in banks or airports. We’re literally investing in Chinese surveillance companies?

Don’t force me to divest from an American company that is enforcing the law.

And don’t force me to invest in a Chinese company that is committing human rights violations.

Come to think of it — don’t force me to invest at all.

At least not in a Ponzi scheme, a pyramid scheme, like the Canada Pension Plan.

NEXT: Joel Pollak of Breitbart joins me to talk about the Democrat presidential candidate race, and Trump's scathing criticism of... Fox News.

FINALLY: Your messages to me!

 

Comments
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commented 2019-07-11 12:08:17 -0400 · Flag
Fuel standards aren’t a “tax grab”. It costs a bit more money to refine it.

Nobody knows what it will cost, except Scheer, apparently.

The world didn’t end the last time they tightened fuel standards, ultra-low-sulphur-diesel (phased in between 2005 and 2012) for example noticeably bumped the price of diesel fuel, but yet… life goes on. The upcoming bunker oil ban will also have consequence on fuel prices.

Another tempest in a tea pot. Clean air is worth it. Buy an EV if you don’t want to pay the price for fuel.
commented 2019-07-10 13:58:27 -0400
Looks like the only way to stop Trudeau and his gang is a large quantity of silver bullets.
(Just joking folks)….I think.

Good link, Jill Ward.
commented 2019-07-10 13:36:50 -0400
HAVE A READ
https://www.spencerfernando.com/2019/07/09/new-tax-grab-liberals-refuse-to-tell-canadians-how-much-secret-gas-tax-will-gouge-us/

again, WE WILL NOT SURVIVE HIM AND HE HAS NO FEAR OF US AND NO INTENTIONS OF LEAVING OFFICE IN OCTOBER REGARDLESS !

we are going down the sewer so fast it makes MY HEAD SPIN but as per usual , good old canuks are so engrossed in THEMSELVES AND THEIR LITTLE DAILY LIVES, THEY SIMPLY CAN’T SEE BEYOND!
Pathetic and a very very dangerous mentality right now.
must all be sick of living!
commented 2019-07-10 13:33:40 -0400
MIKE KRCHNAK commented 11 mins ago
All knowing andrew just can’t figure out why those apples just don’t taste like oranges.’

I don’t know why. Perhaps you have a theory, possibly involving Muslims?
commented 2019-07-10 13:21:54 -0400
All knowing andrew just can’t figure out why those apples just don’t taste like oranges.
commented 2019-07-10 12:39:08 -0400 · Flag
- Did you really think that there was any part of the Canadian government that the Liberals wouldn’t corrupt? Make MPs dependent on the CPP & you’d get very different decisions being made. As it is, they could care less as long as it doesn’t collapse while they’re in power.

- The Democrats have no leaders. Anyone with actual leadership potential is weeded out early on. What you see on the stage now are the representatives of the various Democrat donors.
commented 2019-07-10 11:04:43 -0400
HAROLD HOFF commented 13 hours ago
Loved the reference to CXW “Core Civic” formerly called “Corrections Corp of America” (I love that name!) and GEO “GEO Group”, the two large publicly-listed prison and detention center operators in the US. Great investments for your kid’s RESP – share price goes nowhere but they throw off tons of cash in dividends. Look what happened when Trump was elected, the next day,”

Ah, how’s that second amendment working in reducing the crime rate?
commented 2019-07-10 10:58:48 -0400
Off topic but worth reading.

European Union: Toward a European Superstate
“The EU is a Sham Democracy”
by Soeren Kern • July 8, 2019 at 5:00 am

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German Defense Minister Ursula von der Leyen, nominated to be the next President of the European Commission, has called for the creation of a European superstate. “My aim is the United States of Europe…” she said in an interview with Der Spiegel. She has also called for the creation of a European Army.

Belgian Prime Minister Charles Michel, nominated to be the next President of the European Council, has said that Eastern European countries opposed to burden-sharing on migration should lose some of their EU rights. He is also a strong proponent of the Iran nuclear deal.

Spanish Foreign Minister Josep Borrell, nominated to replace Federica Mogherini as High Representative of the Union for Foreign Affairs and Security Policy, is a well-known supporter of the mullahs in Iran. Borrell has also said that he hopes Britain will leave the EU because it is an impediment to the creation of a European superstate.

International Monetary Fund Managing Director Christine Lagarde, nominated to be the next President of the European Central Bank, has supported U.S. President Donald J. Trump’s trade war with China. “President Trump has a point on intellectual property. It is correct that nobody should be stealing intellectual property to move ahead…. On these points clearly the game has to change, the rules have to be respected.”

“The best cure for Europhilia is always to observe the EU’s big beasts at their unguarded worst… unencumbered by any attachment to democracy, accountability or even basic morality… [W]e witnessed rare footage of the secretive process that propels so many retreads and second-rate apparatchiks into positions of immense power in Brussels and Frankfurt, utterly disregarding public opinion…. Everything that is wrong with the EU was shamelessly on display.” — Allister Heath, The Telegraph.
commented 2019-07-10 08:39:36 -0400
Man oh Man! Wait till Andy Dairy Queen hears about this!
commented 2019-07-10 02:53:18 -0400
CPP will never make profits on their chinese investments, if ever they can get their money back. Even private companies stay away from investing in China because you can’t trust any of their laws. Only huge int’l corporations take the risks while paying off every official they meet. Canadians are so screwed, from top to bottom, left and right.
commented 2019-07-10 00:48:23 -0400 · Flag
Why has Kamala Harris’ family history to slavery been overlooked or kept out of the press? No, her grandfather was not a slave but a slave owner. Her very own father wrote a long article (https://www.jamaicaglobalonline.com/kamala-harris-jamaican-heritage/) about the family and his slave owning father.

In the public archives of Jamaica there are documents indicating the names of his 89 registered slaves. It wouldn’t be too difficult for Kamala, who believes in restitution) to seek out the descendants and offer them financial compensation. After all, this is a major point in her policies – compensating the grandchildren of slaves for what happened to their grandparents. Maybe, just maybe, she should put her wallet where her mouth is located. Doubtful.
commented 2019-07-09 22:22:31 -0400 · Flag
Loved the reference to CXW “Core Civic” formerly called “Corrections Corp of America” (I love that name!) and GEOGEO Group”, the two large publicly-listed prison and detention center operators in the US. Great investments for your kid’s RESP – share price goes nowhere but they throw off tons of cash in dividends. Look what happened when Trump was elected, the next day, Prison stocks were the best performing subgroup, up about 50% in one day! sorry for the ramble, but if CPP divests from these, I’m keepin’ them!
commented 2019-07-09 22:03:19 -0400
Don’t forget about the CPC investing in windmills in Brazil as well. Mean while, Jason Kenny, AKA little Ed Stelmach, was out attacking Alberta’s main employers and wealth creating industries, which is what pension plans should be invested in. Calling them, the big emitters, like they were the big bad wolf. Rather than the one who keeps the wolf away from the door of most Alberta families. It’s not much wonder that investment wouldn’t touch Alberta with a hundred foot pole.
commented 2019-07-09 22:01:55 -0400
Eric Swalwell did withdraw from the democratic race. No surprise there.

Trudeau has done so much damage it will take someone like Donald Trump to correct Canada. If Maxime Bernier could do it, but I don’t think he has a strong enough group to back him and get the votes. He’s the only one with experience.

Keith Barnes: they are also euthanizing the disabled. Vincent Lambert in the UK is being euthanized right as we speak. Doctors have removed food and water and are starving him to death, despite his family’s wishes.
commented 2019-07-09 21:47:46 -0400
As a pensioner I feel lucky to be alive and the only reason that I am, is because I have been able to stay out of hospital. If you are old and hospitalized the chances of you returning home are just about nil. Euthanizing the old and disabled, according to the Government, is the cheapest and best cure and should be carried out as a normal procedure for old people. Trudeau himself has stated that Euthanizing old people is completely acceptable.
He has also stated that aborting new born children is acceptable. He is demented.

Prime Minister Trudeau, by the time July is half way through I will be eighty years old.Your hit team missed me, ‘You Rascal’ and the way things are going, I will probably out live ‘You’.
commented 2019-07-09 21:43:14 -0400
Kowtowing to China only alienates Canada from the USA. Perhaps ‘tis the Globalists Intent’
commented 2019-07-09 21:31:48 -0400 · Flag
Was there a mandate letter from Trudeau to that department?

It’s got to be contrary to their fiduciary duty to invest in A) co’s that breach human rights to this degree, and B) in co’s that could just steal the money, as I’m sure they could should they get the notion.

Let’s not forget that Trueau invested in the China Infrastructure Bank too.
commented 2019-07-09 21:30:01 -0400
You’re right as well, Ezra, that CPP is a Ponzi scheme. And like ALL such scams, they eventually fall apart. Even adding products in, like Amway did, doesn’t stop the rot.
commented 2019-07-09 21:28:29 -0400 · Flag
I can understand CPP’s dictatorial bent, being on disability with them. They questioned why me, an almost blind man in a tiny hamlet, couldn’t find gainful employment. What a pity old, white, Christian men are discriminated against in Trudeau’s Canada. It isn’t our home and native land anymore..
commented 2019-07-09 21:23:17 -0400
When Trudeau first got in, it was no secret that he wasn’t too keen on our big reliance on the US as a trade partner, so he thought China and India could replace or at least diversify from the US. Not a bad idea having more than one customer. Every PM has said this for the last 100 years and none have been successful.
Apparently he ordered the CPP to invest 2.5 Billion in low income housing in India. The story is in this link:
https://www.cbc.ca/news/business/canada-pension-mumbai-housing-1.3299154

Here is the reason that I brought it up. The final profit on Justin’s investment on our money was 1/25 of 1% on 2.5 Billion. Isn’t that great, at the time CPP could have put it in the bank for 3 0r 4 % .

Here is a blogger’s response to Trudeau’s investment. (Funny)
http://capforcanada.com/video-justin-trudeau-takes-2-billion-dollars-from-canadas-pension-fund-and-gives-it-to-mumbai/
commented 2019-07-09 20:56:28 -0400 · Flag
Mohammad Trudeau and the treasonous scum liberals idolize the authoritarian draconian Orwellian Nazi tactics country of China.
It’s his “favourite dictatorship”
Trudeau is probably on an apology tour there as we speak
commented 2019-07-09 20:31:39 -0400
This surveillance technology will used on Canadians too. Why else would they invest there? This is one more step in controlling the little people for their NWO.
commented 2019-07-09 20:22:16 -0400 · Flag
Trudeau is colluding with the UN and China to destroy our country and way of life. I don’t believe anything this liberal government says. They are destroying capitalism in Canada and will be dividing up our resources with China being the biggest taker. This is a fake fight with China.Trudeau should be hung for treason! I’ll bet Chretian is involved up to his neck in this CPP deal. Remember that Paul Martin stole 50 billion from our EI fund to balance the books, or the UN was going to take over. Unbelievable!