Posted originally on CTH on June 29, 2025 | Sundance
“Elbows up” and knees bent. As expected given the nature of their dependency, the Canadian government has rescinded the digital services tax against U.S. tech companies.
The June 30th collection is halted and the Canadian government led by Mark Carney will be bringing legislation to rescind the tax entirely.
CANADA – […] Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, announced today that Canada would rescind the Digital Services Tax (DST) in anticipation of a mutually beneficial comprehensive trade arrangement with the United States. Consistent with this action, Prime Minister Carney and President Trump have agreed that parties will resume negotiations with a view towards agreeing on a deal by July 21, 2025.
The DST was announced in 2020 to address the fact that many large technology companies operating in Canada may not otherwise pay tax on revenues generated from Canadians. Canada’s preference has always been a multilateral agreement related to digital services taxation. While Canada was working with international partners, including the United States, on a multilateral agreement that would replace national digital services taxes, the DST was enacted to address the aforementioned taxation gap.
The June 30, 2025 collection will be halted, and Minister Champagne will soon bring forward legislation to rescind the Digital Services Tax Act. (LINK)
In the bigger picture Canada has a serious problem.
Canada is entirely dependent on the USA; there is no part of the Canadian economic system that can survive without total dependence on the USA. The Canadian economy is currently stagnant and their leftist government is desperate to find a way to collect revenue somehow, any way possible. Additionally, President Trump is going to end the USMCA trade agreement and shut down a majority of the benefits Canada has been extracting.
The most remarkable aspect to this reality is the denial within Canada. There are maybe a handful of honest Canadian economists, financial types and/or pundits who understand economic matters that are willing to outline and explain the details of Canada’s vulnerability…..
…. The rest are in denial, shouting ‘elbows up’ as if that is going to change the inevitable. The pretending is strong amid the snow Mexicans. Their denial is a mass formation psychosis. Stunningly so.
Posted originally on CTH on June 28, 2025 | Sundance
CTH has continually said that almost no one in Canada has any grasp of what is about to happen within their economy, specifically because only a handful of people realize what President Trump intends to do.
This interview with Kevin O’Leary is a case study in what I have been warning about. If you have any financial affiliation with O’Leary Ventures or ancillary investments that touch on a dependency therein, be forewarned.
O’Leary is only a few months away from exploding against President Trump in a manner that will make the Elon Musk statements about Epstein and Trump seem small by comparison. As yet another Canadian financial voice that just doesn’t get it, O’Leary has no idea the USMCA is about to end. And when it does, oh boy… he will go bananas.
Russian President Vladimir Putin answered questions from the media earlier. One of the questions was about President Trump against the backdrop of peace efforts, the middle-east conflict and Ukraine.
President Putin’s response is very interesting. I am placing here as a datapoint for my own analysis without reading too much into it at the moment. All of the points are converging in one direction. WATCH:
BREAKING: Putin says he deeply respects Trump, whom he describes as a courageous person who’s trying to do the right thing by bringing about world peace.
“I believe he truly wants peace in Ukraine and the Middle East, though it may be harder than he expected.” pic.twitter.com/utXlbaiPNf
Congratulations Treepers. If you have followed the discussions [SEE HERE] you can see how we are on the cusp of a big geopolitical change. GET THE BBB PASSED and things begin to unfold. All of the datapoints go in one direction.
Posted originally on CTH on June 27, 2025 | Sundance
U.S. Ambassador to Russia, Lynne Tracy, who was appointed by Joe Biden, has departed her position in Moscow as U.S. Ambassador to Russia. There has been no announced name for replacement. [¹Get the friggin’ BBB passed!]
Remember, in the last 20+ years, no American official has spent more face-to-face time with Vladimir Putin than U.S. Special Envoy, Steve Witkoff. On behalf of President Trump Witkoff has held multiple meetings and discussions with Russian President Vladimir Putin lasting more than 4 and 5 hours at a time. U.S. Ambassador Lynne Tracy was not present.
Do not forget, nor overlook this baseline fact.
MOSCOW, June 27 (Reuters) – Lynne Tracy, the U.S. ambassador to Russia, is leaving Moscow, her embassy said on Friday, noting she had served through one of the most strained periods in relations between Moscow and Washington.
The departure of a career diplomat appointed under the administration of former president Joe Biden comes as Russia and the United States discuss a potential reset in their ties which sharply deteriorated after Moscow launched its full-scale war in Ukraine in 2022.
[…] “I am proud to have represented my country in Moscow during such a challenging time. As I leave Russia, I know that my colleagues at the embassy will continue to work to improve our relations and maintain ties with the Russian people,” the embassy cited Tracy as saying in a statement.
[¹We anticipate that once the BBB is completed, obviously there will be a celebration – a news cycle for the White House and legislative leadership to promote & celebrate, and then President Trump will likely shift straight into the details of the trade agreements being constructed in the background by Secretary Lutnick, Secretary Bessent and USTR Jamieson Greer.
As the trade aspect is underway from the oval office, expect Secretary Rubio and Steve Witkoff to be reengaged with Ukraine-Russia. By mid July we should see multiple announcements of trade agreements, while simultaneously the foreign policy focus of Rubio and Witkoff should start to materialize into substantive change.]
Posted originally on Jun 26, 2025 by Martin Armstrong |
Obviously, the government should own everything, there should be no rents, no taxes, and they can take care of us – no problem.
I think I heard that before. Wasn’t that Lenin’s Sales Pitch?
Let’s see. The government paid millions to farmers to kill their chickens to stop bird flu. Might that have anything to do with the price of eggs? Then their is the problem that cows fart. And Bill Gates is cloning meat sho we can eliminate all the cows so he can sleep easy at night instead of have nightmares about their farting. So, open government stores, and then how will that bring prices back down? Oh, dah! Obviously, you seize the farms, just as Stalin did. Of course! That will work.
So Democrats will now swap Transgender Womanhood for you will own nothing and be happy?
Posted originally on Jun 26, 2025 by Martin Armstrong
COMMENT: Mr. Armstrong, I read Reuters comments this morning and they said “The dollar sank to a three-year low … the greenback down more than 10% for the year. If it stays that way in the coming days it will be its biggest first half of a year fall since the early 1970s – effectively the era of free-floating currencies.”
The exaggeration and bias in the financial news have become outrageous. I have been in this field for 30 years. Never have I found the press so dishonest and politically driven. They are trying to create the collapse of the dollar to overthrow Trump. This is like the polls. They lie about everything.
P
REPLY: I fully agree. It makes me want to quit and hide under the covers, for they are deliberately distorting the world, and everything they do is to push us into war. I am so sick of the exaggerations and lies, as they do not care about the people, the country, or our future. NOTHING – just the moment and how to win at all costs.
Here is our Dollar Index back to 1902. It allows you to see the real trend and put it all in perspective. Below is the US Dollar Index, which began in 1988. It omitted the dollar high in 1985, not to mention the dollar decline into 1976.
Here is CNN faking the news, standing in the deepest puddle they can find, while the film crew is only ankle deep. Everything is always the worst they can possibly project. They trash the dollar because Trump wants to replace Powell with someone who will lower interest rates. Sorry, Trump is a biased borrower, not a lender. So he looks at everything from only one side of the table. Europe entered negative interest rates in 2014, strip-mining pension funds and bank reserves. Lower rates harm savers for the benefit of borrowers. This is always a one-sided view that never makes sense.
So let me see. Interest rates rise in bull markets and always decline in bear markets. That is reality! However, the press has somehow sold the idea that lowering rates is bullish for the stock market. It is all based on Keynesian Economics, which was based on Government Intervention following Karl Marx. This presumption that the government is capable of managing the economy under socialism is merely presumptuous. Why worry. The socialists will take everything, we will own nothing, and be so excited, happy, and thankful, for in their book, we are too STUPID to understand anything anyhow.
Here is the Great Recession 2007-2009. The stock market rises with RISING rates because that shows there is a demand for money and investing. When rates decline and even went to NEGATIVE to punish people for NOT investing, that is the truth. This is exactly OPPOSITE of the nonsense the FAKE FINANCIAL NEWS reports because they do not give a shit about the truth. They need to find the deepest puddle to exaggerate everything.
There is NO definitive rule that even a specific level of interest rates will impact that market. The strongest bull market was 1929 and there we see the lowest level of interest rates. The other impact is CAPITAL FLOWS. Fort 1929, all the capital poured into the USA because it was here, hiding during World War I. There was the first G4 meeting in 1927 when the central bankers convinced the US to lower interest rates, and that would force the money to return to Europe. That failed.
If you think the stock market will DOUBLE, you will pay 20%.
If you do not think it will rise by 1%, you will not pay 1%.
Posted originally on Jun 26, 2025 by Martin Armstrong
World Economic Forum founder Klaus Schwab stepped down from his chairman position at the organization on April 20, 2025, amid accusations of fraud. Our computer had forecast that the WEF would enter a declining trend with the 2024 ECM turning point. This staged coup happened about 37 years after the first Davos meeting (8.6 x 4.3). From our model’s perspective, this was right on time. Now, Schwab and the WEF are working to repair ties.
An anonymous whistleblower claimed that Klaus Schwab and his wife collaborated with USAID to steal tens of millions in funding. The whistleblower has always been anonymous, and it remains very suspicious that the very organization he created would turn on him after receiving an anonymous letter that they admitted may not have been credible. Something like this would never be acceptable in any court of law, especially if it’s anonymous. It would be the worst or the worst hearsay, where you cannot even point to who made the allegation.
Back in April, the WEF said its board unanimously supported the decision to initiate an independent investigation “following a whistleblower letter containing allegations against former Chairman Klaus Schwab. This decision was made after consultation with external legal counsel.”
Now, the WEF is attempting to repair its relationship with its founder ahead of the next Davos meeting. Bloomberg reported that the WEF would like to “normalize their relationship [with Klaus Schwab] in order to safeguard the forum and the legacy of the founder.”
Peter Brabeck-Letmathe has replaced Schwab for the time being, but is less of a commanding force. Schwab’s sudden departure has caused instability in the organization and its ongoing mission. Board members are concerned that support for the organization will begin to decline as this situation remains unresolved.
The World Economic Forum’s annual revenue in 2024 was 440 million francs ($543 million), with the majority of proceeds coming from member companies and fees. Yet, the number of people registered to attend the 2025 Davos event is on par if not slightly exceeding the number of participants from the year prior.
Schwab’s departure has damaged the Davos brand. There is a possibility that the organization is attempted to rebrand after Agenda 2030 failed. The WEF attempted to move away from its zero tolerance stance on ESG initiatives after they became widely unpopular among the big industry players and shifting governments. The brand has attempted to integrate the importance of digital transformation and AI to remain relevant as the tech gurus grow in power and popularity. Those who are familiar with Klaus Schwab know the phrase, “You will own nothing and be happy.” These words have been widely unpopular and caused a type of sinister chaos to surround the brand that was once respected as the high-brow institution of globalist elites.
European Central Bank President Christine Lagarde was slated to replace Schwab in 2027 when her term ends, and all reports claimed that he was prepared to remain in the chairman role for an additional two years to ensure Lagarde could take his place. What changed seemingly overnight that would cause the organization to discard Schwab before he was due to retire?
Schwab denies any misconduct and filed lawsuits against the whistleblowers, calling the accusations “calumnious” and “unfounded.” He believes “character assassination” was the premise of the claims.
I am no fan of Klaus Schwab, as everyone knows. I disagree with his theories from start to finish. Nevertheless, something doesn’t smell right here. This appears to be an internal coup, perhaps to distract attention from the question of alleged funds for the WEF from USAID, or to try to salvage the failed Agenda 2030. Perhaps they will claim that no misconduct had occurred since DOGE did not raise concerns or there is a possibility that those behind the internal coup are concerned that Schwab’s counter lawsuit could uncover new corruption. The investigation into Schwab has not concluded, but after only three months, the WEF would like to wrap it up. It appears that the WEF does not want to welcome Schwab back; rather, they would like to ensure an amicable resolution to maintain both the brand’s reputation as well as the founder’s.
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