Legal AF by MeidasTouch - Trump Seethes as Canada Lures Billions From US Banks

Episode Date: September 16, 2026

In the ultimate trolling, Canada has invited major US financial services companies and funds to Toronto for this week’s first of its kind Investment Summit, as US Banks consider investing trillions of dollars to help Canada beat Trump! Popok reports on Canada also reminding the investment world that they, not the US, are a “stable and reliable” trading partner in contrast to Trump’s erratic policies, and that their debt is just 10.6% of their yearly gross domestic product output, in contrast to the US and Trump’s economy that teeters on a 95% debt load! NOBL: Head to https://NOBLTravel.com for up to 46% off your entire order! #NOBL #ad Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af Sidebar with Katie Phang: https://podcasts.apple.com/us/podcast/sidebar-with-katie-phang/id1886801652 The Parnas Perspective: https://podcasts.apple.com/us/podcast/the-parnas-perspective/id1869165949 The Intersection with Michael Popok: https://podcasts.apple.com/us/podcast/the-intersection-with-michael-popok/id1818863274 MissTrial: https://meidasnews.com/tag/miss-trial The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Ken Harbaugh Show: https://meidasnews.com/tag/the-ken-harbaugh-show The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Five Minute News: https://podcasts.apple.com/us/podcast/five-minute-news/id1471715443 Learn more about your ad choices. Visit megaphone.fm/adchoices

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Conditions apply. Visit scotia bank.com slash hisa to learn more. Scotia Bank. You're richer than you think. Even the U.S. banks and financial services are back in Canada. As Mark Carney does an exquisite pirouet 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 Black Rock, 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. I'm Michael Popock. 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 Black Rock 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. Canada 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 is 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 is 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. And 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 Washington, 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 plus. It sounds like it's good, AA plus, but it's not AAA. And it's one or two notches down in the ratings between Canada and the United States. And 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% our GDP barely covers our total debt. That's why the debts 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%.

In terms of foreign investment, Canada is extremely strong. It's the number two country of getting equity flows in 2025. America 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 United States is not. But when you put all these people together, of course you're going to get good things of it. And 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 they're about this. A trillion dollars in 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.

Bet 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.

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a hundred-day money-back guarantee, and free three-day express shipping. Noble gives you real travel peace of mind, security, designed, and convenience all in one. Head to nobltravel.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 a lot of course, 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. Usually with U.S. 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 McAllow it to Victoria, to Quebec City and St. John's. And that consensus is that Canada is taking control of our future. We 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 of assets will come to peer 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. We are a kind, generous, hardworking and ambitious people. We have what the world wants, the energy, the resources, that the talent, the technology, the capital. And our greatest 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, something 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 and 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 know what he's willing except for Canada. And yet this is how we treat our neighbors threatening their sovereignty, saying we're going to forcibly make you a 51st state. And you wonder why they're considering nuclear weapons in Canada to fight off against this exaseless. 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. The 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. I 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.

We are 1.2,3 million subscribers. We have over 805 million views in that two-year period of our work there. Ten new videos a day. Come over to LegalAF YouTube channel and join us before our birthday in three days. Until my next report, this is Michael Popock. Can't get your fill of Legal AF. Me neither. That's why we formed the Legal AF substack.

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