The Hidden Story of Trudeau’s Sale Of Canadian Gold To China

“Gold is often hailed as a hedge against inflation. Canada is currently the only G7 nation without any official gold holdings.”

“The former director of the Canadian Security Intelligence Service(CSIS) has calling on the Liberal government to scrutinize the recent takeover of a Nunavut[Canadian] goldmine by a Chinese state-owned company.”

TMAC is among a number of Canadian companies bought up by state-owned Chinese corporations. In March 2020, the Trudeau government permitted Continental Gold to be purchased by China’s state-controlled Zijin Mining for $1.3 billion dollars.

Richard Fadden, head of CSIS from 2009-2013, told the Globe and Mail that the federal government should "keep Canada’s national security interests in mind when examining the purchase.”

“I think gold is pretty important for the world economy. China has enough of a grip on the world economy as it is, given its capital assets, so I would include gold.”

According to Fadden, “the intelligence community has been increasingly worried regarding China’s investments in Canadian companies which skirt regulation.”

“Ottawa Sells Off Almost All Its Gold Reserves, Leaving Just 77 Ounces — Or Less”

“Unlike other countries, Ottawa has been selling off its reserve of gold bullion and coins.”

Well, will you look at that? Our prime minister approved a comprehensive sell-off of Canadian gold reserves-- nearly all of it purchased by China. Throughout the process, establishment media barely raised an eyebrow regarding the spurious development.

Pierre Gratton, president of the Mining Association of Canada, said the TMAC takeover has raised eyebrows because Shandong Gold Group is a Chinese state-owned enterprise.

“China as a very large powerful authoritarian state acquiring assets in the Canadian Arctic, that concern is legitimate,” said Michael Byers, Canada Research Chair in Global Politics at University of British Columbia.

CAP offer up a piece of fascination: Trudeau’s decision to dump all Canadian gold holdings came mere months after being elected as prime minister in 2015:

As reported by CBC News, “the government of Canada has wound down its gold reserves to basically nothing after a multi-year strategy of selling them off in favour of hoarding other countries’ currencies instead.”

Why did Trudeau take this action– especially so early in his tenure? On this basis, it’s near-impossible for the decision to be a short-term, or spontaneous decision. Significant preparation had to have occurred previous to the sell-off.

Four months into Trudeau’s tenure, our Liberal government divested itself of all federal government holdings of gold:

According to the Department of Finance’s international reserves data issued on March 19th, 2016, Canada’s gold reserves were effectively down to zero.

Sound fiscal policy? Or pay-back to the government of China for their assistance in propping him up as prime minister?

The sell-off quietly occurred in the early years of Trudeau's tenure as PM. Several years later, Canadians were informed of what could have constituted pay-back for Trudeau's gifting of the gold:

“For several months, the Trudeau government has been  sitting on briefing notes from the Canadian Security Intelligence Service(CSIS) setting out how Beijing quietly funded 11 candidates in the 2019 federal election. 

Did Justin Trudeau strike a deal with the Chinese government?  “You assist me in become prime minister of Canada, and I will ensure you receive the bulk of Canadian gold holdings.”

It’s a hypothetical, but one which no astute follower of Canadian politics should rule out. Even without a specific deal of this nature, Mr. Trudeau has spent eight-years covertly and/or explicitly supporting Chinese government interests in Canada.

Weeks before the Liberals dumped the gold, the United States held 8,133 tonnes of gold, comprising 72 per cent of its reserves. Germany held 3,381 tonnes accounting for 66 per cent of its reserves,  while Italy and France each held more than 2,400 tonnes — 60 per cent of their respective reserves.

“Canada is currently the only G7 nation without any official gold holdings.”

In terms of gold reserve retention, the United States is ahead of all other nations by a country mile. A graph indicating which nations of the world hold the most gold is fascinating to witness.

The world's most powerful nations have it; the poorest countries on the planet do not. With an approval of a sell-off of Canada's gold repositories, the Liberals put Canada in the same status as dozens of poor African nations. Countries such as Angola, Tanzania, Madagascar, Nigeria and Ethiopia have no gold reserves. In contrast, United States, Russia, China, France and Germany are the leaders in this capacity.

Among other benefits, gold exists as a hedge against rapid inflation. The country of Turkey is among nations of the world most affected by inflation. In 2022, prices on everyday goods increased by a whopping 85%. To diffuse the problem, the Middle Eastern nation is now at the top of the list in terms of gold acquisition.

“Turkey was the biggest buyer of gold among central banks last year, with households also rushing to buy the commodity to shield from geopolitical uncertainty and rampant inflation.”

Typical Trudeau it is. Though Canada hasn't experienced inflation anywhere near the level of Turkey, our federal government might have had a method on their hands to reduce inflation in Canada. Instead, government transitioned the benefit to the government of China.

What a revelation all this is. But not for 40 Million Canadians, of course. As funded by the Feds, mainstream media has gone low-key on dissemination of this critical economic information.

Smart business, or a return favour to China from Trudeau for helping fast-track him into office? Seems like no matter how you slice it, the Liberal government of Canada consistently come up smelling like communist roses.

An economic disservice to our country for the benefit of a power-mad Canadian prime minister? We wouldn't put it past the Liberals for all the white rice in China.