Will Dove  00:00 In March Finance Minister Chrystia Freeland announced this year’s budget. $498 billion dollars. This was just one month after Freeland announced that Trudeau’s government had increased their borrowing limit by $517 billion, an amount in excess of the entire annual budget, with virtually no announcement as to what the government would do with that money, and certainly nothing on how we would ever repay that debt.   Will Dove  00:32 Canadians are already pushing back against the carbon tax. A tax where Minister Freeland, when questioned in Parliament recently, refused to disclose how much money the government is making from it. Now add to this the increase in capital gains tax, which most of you will be aware of by now.   Will Dove  00:53 But there are other new or revised taxes within the budget as well. Peter Merrick is a Canadian, living in the U.S., who is an expert on protecting assets by moving them from Canada to the U.S., while paying minimal tax. Peter read the entire 430-page budget.   Will Dove  01:15 In this interview, Peter discloses the taxes in the budget that the government didn’t want you to know about. We also discuss the question of why Trudeau’s government is shipwrecking our economy. It’s easy to say that Minister Freeland is unqualified for her position. Her only degree is in Slavonic Studies, and what working background she has is in journalism. However, Chrystia Freeland also sits on the Board of Trustees for the World Economic Forum. Justin Trudeau, who appointed her to her position, is a graduate of the WEF’s Young Global Leaders indoctrination program, and Klaus Schwab, who despite his recent retirement announcement is still currently the director of the WEF, boasted years ago that he controlled over half of Trudeau’s cabinet.   Will Dove  02:07 So is the most recent disastrous budget incompetence, or is it something much darker, part of an intentional plan to destroy our economy and bankrupt Canadians.   Will Dove  02:20 And either way, what can you do to protect your assets when the inevitable collapse comes? The answer may surprise you.   Will Dove  02:37 Peter, welcome back to the show.   Peter Merrick  02:40 Thank you, Will.   Will Dove  02:42 I have to say, I was just blown away when you emailed me and told me that you had read the entire budget. Now, of course, I just looked at the summary. What was that? 380 pages, something like that?   Peter Merrick  02:54 It was about 130 pages.   Will Dove  02:57 430? And you've read it all. So, you're the financial expert. I'm going to basically hand the wheel to you. Where do you want to start, Peter?   Peter Merrick  03:06 Well, let's just talk about the major things that were talked about immediately when I got out of the Bill, I think that's very helpful for your readers. So, let's start off with what the finance minister, what would you like to refer to her? Because I don't even want to give the respect of mentioning her name. You can show a picture of her when you do the edit. She came out and what did she say at the beginning of the budget? She said this budget is for generational equity. What does that mean?   Will Dove  03:42 Well, I say, I can read into it what I think it means and it's not anything good.   Peter Merrick  03:46 Well, tell me what you think it means. And I'll tell you what I think it means, because I think by sharing what we think it is, it’ll help the conversation.   Will Dove  03:55 That's another way of saying even our grandchildren will pay this off.   Peter Merrick  04:02 Well, that's different than I read it, that you have worked hard, you have a home, you've contributed to the society, you have stuff. And to me what it is, is they're going to take away from people who've actually ended something in this country, the people who are the Wealth Generators. So, you are terrible.   Peter Merrick  04:27 And let's look at everything, the stage has been set. And I just want to give con checks to everyone. A lot of people are coming into Canada, they've been lied to. They've been told that Canada is the candidate of the 70s and the 80s. And they’re coming - the major cities, about a million and a half people are coming into Canada a year, 70% of them are ending up in Toronto, Vancouver, and Montreal. And in the top 13 urban center, you have 95%. They're not building enough houses, about 40% of that's going to Toronto, Montreal is only building about 20,000 units, they need about 150,000 units, people are angry, and we have to look back and remember what Klaus Schwab call this, we will have a much more angrier warning.   Peter Merrick  05:17 So, the finance minister who has no economics training, except that she was a Rhodes Scholar and anybody who was a Rhodes studies, like Cecil Rhodes, could be considered somebody who's never have a position in any government other than the British because it's treasonous. She was also spoken about by the K.G.B., before the K.G.B., and until the Union collapsed that she was active in separatist neo-Nazi groups in the Ukraine. Her grandfather had never been in Canada and I don't hold anyone responsible for who their grandparents are, but she never announced. And she sits as a director in the World Economic Forum. I always got that a conflict of interest. I would even say something stronger, because I'm not in your country, even though I’m a Canadian.   Peter Merrick  06:16 That is treason. That is treason. You cannot have two masters, the only master that she should have is Canadians, not the World Economic Forum.   Will Dove  06:30 Completely agreed. But we've got a whole bunch of people in Trudeau’s government, including Trudeau himself, who are working for a foreign power against our interest. I just want to add a couple of things to what you were talking about Chrystia Freeland, first of all, her degree is in Slavonic studies. Her background is in journalism. She is no more qualified to be finance minister than I am. And I can tell you right now, I will probably be the worst finance minister in the world. I know nothing about this kind of stuff. Neither does she. Second, you were talking about the K.G.B., the K.G.B. actually had a codename for her. I can't remember off the top my head know what it is. But she has her own K.G.B. codename. What does this tell you about the person who is driving our economy into the ground?   Peter Merrick  07:20 Well, it's not her. She's taking orders.   Will Dove  07:23 Absolutely yes, she is. She is taking orders from her globalist masters to destroy our economy. So now what…   Peter Merrick  07:31 What I’d like to do, what I’d like to do, Will, is just go over that. I have things that stuck, when I read the budget. And then what I'd like to do is I'd like to get into specifics and discuss with you. So, number one, there's something called the FACT tax. So, it's FACT tax. This is a sales tax framework targeted on indigenous communities under the guise of reconciliation. It's burdening them with collecting more taxes.   Peter Merrick  08:05 And if anybody understands UNDRIP, and that happens to be a treaty, where land is going to be given back to the native people, basically, as they’re managing their own affairs that goes to the UN, it's a backdoor tax that takes away our sovereignty. And they don't - they do not find what an aboriginal individual is. Because every cell in my body was conceived, grew up in Canada, how am I not, and then did this person. However, this is a way that they're going to take away our national sovereignty. And already I was reading that in Northern Vancouver Island, partial of the land was given to the tribe, and Canadians who own land there, they don't know what rights they are going to have. So that's number one, the FACT tax.   Will Dove  09:10 I'm sort of jumping in. But I need to add something to this. It's very important. First of all, UNDRIP for our viewers who may not know what that acronym means, it's the United Nations Declaration for the Rights of Indigenous People. It is nothing but a shell game, to - as you said, steal our lands and resources. And I have it on authority from one of the lawyers in our country who's drafting all of this stuff, who by the way, is indigenous.   Will Dove  09:35 The province of British Columbia, and the territory of Nunavut are one legal pen stroke away from ceding the authority over all resources, to the aboriginals. And of course, they're not the ones calling the shots. Other people are controlling them. So, you're absolutely right on that. This whole UNDRIP thing, everything you're talking about, this is a grab for our resources for control within our own country, to have foreign powers.   Peter Merrick  10:07 By the UN, by the UN, and it's a back door. And one thing I do want to share, Will, for the last 15 years, every government group I saw, went, or heard, they were all mentioning that the native land that we were standing on belong to some tribe, and a lot of the times those tribes didn't exist anymore, but they made it a point, because it's a form of conditioning. Getting us ready.   Peter Merrick  10:33 Number two, is the WEF tax. This is the implementation of a global minimum tax cater to demand to the World Economic Forum, and other global institutions. So, they're basically going to put a tax around the world, right? And it undermines the interest of Canadians in favor of serving the global elites that are telling Canadians what is in their best interest. Think about that. Let's go back to Chrystia Freeland. She is a director of the World Economic Forum. And in essence, here's a tax that was being put in place, was mentioned in the budget, so that's like, wow! So, you got these good guys saying you got the FACT tax, and then you have the WEF tax? And it's like, you're going like, okay, how is this  a Canadian budget? And I don't know, but it gets better.   Will Dove  11:23 They're not even trying to hide it. I mean, sure, it's buried in this 430-page document. But it's right there in black and white, and you're absolutely right, I recorded on this, this WEF taxes, globalist tax. And where does that money go? It goes to the globalist who wants to control everything. So, they will have more financial power to do so. But as we – let’s use this word again, that's treason. You've taken money out of the hands of Canadians, and you're handing it to a hostile foreign power.   Peter Merrick  11:57 Yes, we all go back to the fact that what I said before, I think immigration is great, my grandparents came to Canada, but you have to actually have people who understand the society. Right now, people are being lied to. And I mean, lied to! I feel bad for many of the immigrants who've come to Canada in the last few years, they were told that Canada was the Canada of the 70s in the 80s. And they're not finding jobs, they’re not finding home, they’re angry because they get to Canada and they realize they were lied to.   Will Dove  12:33 And in fact, one out of every five of them leaves within - there's a, I don't have the statistics off the top of my head, so I'm not going to try them because I'll get them wrong. But a high percentage of them leave within four years. And by the time you get to 20 years, it's something like one in five. They came here, you're right. They were promised certain things. And they came here and they found out it's not true.   Peter Merrick  12:59 An angrier world. Remember, that's what Klaus Schwab said, an angrier world, where we're importing people who will become angry. And I have to - I know we're talking about the budget, but I believe what's happening with Gaza and Israel right now, that anger on the streets of Toronto into universities, that's the anger, they're just using that as an excuse. There’re angry students, they don't have that, they’re angry. And getting back to the beginning of the budget, when Chrystia Freeland spoke, she said she wants generational equity, pointing the blame at people who won before. She said the baby boomers, people who own homes, they're the ones who get it, those people. That is not what this budget is focused.   Will Dove  13:49 And before we move on, and I'm sorry to interrupt again. But this is a very important statistic. And this one I do remember, because I reported on this just a couple of weeks ago, there was a study done in Great Britain that looked at the GDP per capita as immigration increased, because what they keep telling us - because they keep pointing, the GDP is going up as a result of all the immigration, so immigration is good. But they're not talking about GDP per capita, how much money per person. Once you pass 1.5% of the population immigrating in a year, that starts to go down dramatically. Here in Canada, we're at 3.1%. Which explains a lot of why in the last few years, Canada has now become the absolute worst of the G7 nations on every single economic indicator.   Peter Merrick  14:46 Can we project that a little forward? 10 years at 3.3%, 1/3 of the population, that's like I have certain things I remember like I'm figuring, Will, you’re my age, you remember Mr. Dressup? Like I say that someone who's my age in Toronto, they won't know who Mr. Dressup was. There's nothing that brings us neither. Like, there's no commonality. It's like, there's civility. There's also the rule of law, like, the cultures that are in Canada before this mass emigration, they're from cultures that had the reformation, and the enlightenment. So, we can have debate. What happens if you come from a culture that doesn't have that? Not saying they can't lead people, they can learn it, but it takes generations for them to learn it? And it's a bit of a problem.   Will Dove  15:40 To do that, you have to bring them in in a small enough number that they are forced to assimilate into Canadian society. When you're bringing in a million people a year, what happens - and I see this happening right here, in my own city of Calgary, of course it’s happening in large cities across the country, there's so many immigrants from a certain country, that what they do is they all start to live in the same area. A lot of them, especially if they come from some of the African countries that are very patriarchal, where women are still being treated like property. A lot of the wife, not only can't speak English, their husbands prevent them from learning English.   Will Dove  16:13 So that, you know, they're still totally dependent upon the man in the house. And so, we've got these large groups, people now coming in, who have no reason to assimilate into Canadian culture, because they've gotten, there's enough of them, they brought their culture with them. They're surrounded by people from their country.   Peter Merrick  16:34 Unfortunately, a number of these people brought their hate with them too.   Will Dove  16:38 Yes, and a lot of them hate us.   Peter Merrick  16:40 And we can see that. So, let me just get back on that, so we have the FACT Act, which is the native tribes are going to have to start collecting more taxes. And if they're not able to do it, the UN is going to step in. And we mentioned that it's tied to UNDRIP. We also have the WEF tax where they basically have a minimum tax or saying, if you're not collecting enough tax, well, you have to do it because these funds have to go to the UN, which a few years ago, the UN and the World Economic Forum, they went together. And they're basically I think it happens to be the World Economic Forum, then you also have corporate tax increase. And that makes Canada which we were a very additive country with corporate taxes.   Peter Merrick  17:30 Harper, we had one of the best when it came to small business tax over 500,000. The tax ranges from anywhere from 13%, down to 12%, very competitive. In 2017. They attacked small businesses, now they're raising corporate taxes, it's becoming more expensive, because there's so many things have gone up, minimum wage going up, you have inflation, everything, it's becoming very difficult. And one of the things that I work off all that about 80% of all the jobs that were created, since the pandemic were government jobs, Canada and the G7, as of the order of the working population work for some form of government or some corporation that is actually run by the government. So, this is like having a fat man, like, you're not going to be able to carry that person. And this is driving business people out.   Peter Merrick  18:38 Another thing that was introduced is a vacant land tax. So, if I have land that I'm not using, they're going to charge me on that land an additional tax. Now, the one that everyone's talking about, and we're going to focus on this in just a second is the capital gains tax. But I just want to go over before I leave these work taxes we talked about because I want to focus on the capital gains tax. And also, on the - because these are things that I think are rippers that are going to destroy what's left of Canada, I want to give you some antidotes because I don't have any studies. But I can tell you that people aren't speaking to what they're telling me in a flight of money in Canada.   Peter Merrick  19:28 So, we mentioned the FACT tax, which is tax that is going to be put on to natives to charge the rest of us and to administer it. There's a WEF tax where there's going to be a minimum tax and everybody, every nation in the world is going to have to charge this tax and they're probably going to have to pay it off to the UN or the World Economic Forum. There’s corporate tax increases, and then there's the vacant land tax. If you're not utilizing the land, they're going to penalize you for it and they'll end up - your own money on land that is not producing anything for you so they’ll be able to take your land.   Peter Merrick  20:07 Then they introduced the capital gains tax hike. Now what they've done is, it was a 50% inclusion. So, what that means, there's two aspects of it, because there's secondary taxes that people weren't thinking about. If I sold a big piece of property, over 15% or 30% would be included. So, let's imagine I’m really wealthy, I'm going to use a big number, people get excited with big numbers. So, if I sell, let's say, $10 million land and 50% would be tax free. Only 50% of that would be taxed. So, let's say the tax rate is 50%. So, you pay the government, two and a half million dollars that would go to the government. And then I'd end up with 2.5 million. So, in total, I would have 75% of my gain, would be mine.   Peter Merrick  21:11 Now this is what I want to impress upon everybody, that the initial investment, I mean, in that property was with after tax dollars. So, I already paid my tax and maybe more money and I'm paying more tax, like that happens with when we pay our gas, when they pay HSP, all that stuff like this is after tax money. Now it gets worse, when it's a business because most business owners, especially if they own a property, or their wealth produces for our society, because you have someone who makes money, they buy and they hire people and they, you know, it's transactions, and that creates the GDP, the more transactions there are.   Peter Merrick  21:58 So, let's imagine someone sells a $10 million profit on a piece of real estate. So right now, it's empty, until June 25, until the changes, they would be able to take 5 million, passing it to the company, there'll be two and a half million we'd be taxed, and two and a half million dollars would be stuck in the company. The only way to take those two and a half million dollars that stuck in the company is a dividend out and they'd be paying about a 40% tax rate. So, at the end of the day, they would end up with about $6.3 million in their pocket.   Peter Merrick  22:41 Now let's go and look at the gain, because they're moving it up from let's say that 26% up to 35%. So, what does that mean? Well, you have someone who sells, let's say they're giving personally the first $250,000, it's going to be, you know, the old rate, and then they're going to step it up. It doesn't include - that does not apply to business owners. But let's deal with them. They make it seem that the wealthy people are the same people every year. And they're not. People that actually go over that level, it's usually, most of them, it only happens once in their lifetime. It's about 44,000 taxpayers a year. That's it. And only 15% of those people ever do it twice.   Peter Merrick  23:35 So, it's not like that's wealthy people, this is getting middle class people. I got a college, I might have like a little rental, I have a huge stock portfolio. It's not big event that happens to the same people, the 44,000. And then they make it seem like the wealthy, it's really the middle class they’re going after because people have - it's a capital gain, they're selling something that might be significant that wasn't taxed, it's going to be taxed. So, it's a lie when they say they're going after the 1%. Because that 1% In many cases, in this every single year, middle class people are finally realizing that.   Peter Merrick  24:15 It’s like a business owner, because this is like a double taxation, double taxation. So let me just give you a simple example that just like I worked out the numbers, and I'm just going to use, like a tax rate of let's say 50% for a number. So, in my first example, I had a building, I sold it for $10 million profit. I ended up paying two and a half million dollars to the government. And I have 5 million of the tax free, the two and a half million dollars is stuck in the company if I wanted to dividend that money out, what I'm going to be left with is about $6.3 million after tax.   Peter Merrick  25:04 Now under the new situation, because it's 35% tax, I'm going to only be able to make out tax free, $3 million, pretty less, I got to pay $3.5 million in tax, you're going to have three and a half million dollars stuck in the company, if I didn't have money out, I'm going to have to pay a million and a half taxes, so I'm only going to have $5 million. So instead of having the $6.3 million after I take it out of my business, I'm only going to have $5 million. They just stole money with that certain tax.   Will Dove  25:44 Right. And the government now has $1.3 million more.   Peter Merrick  25:47 If I was an individual, and right now they've raised it to 35% tax, but they're getting the first $250,000, well, let's think about that, Will. It's like this rapid inflation happening.   Will Dove  26:07 Peter, I'm going to ask you, let's give people a real example. Because you're right, there's an awful lot of middle-class people out there who are going to be affected by this. So, I'm just going to throw out an example for you. Let's talk about the middle-class person who 25 years ago, they bought a rental property as an investment. They've been managing it now on their own, all those years looking after it, getting tenants in there, collecting the rent during the upkeep on the property. And now, they can sell it for $400,000 more than they paid for it. Let's look at what they would have gotten before they changed the capital gains and what they would get now.   Peter Merrick  26:47 So based on that, on the first $250,000 that they receive, they'll have to pay about 50 - let me just do think. I'm sorry, I'm doing a quick calculation. It's easier when I did it as a million in the 400,000.   Will Dove  27:11 Okay, well, let’s - we're getting a little bit extreme for middle class. But there's some people out there, right? In fact, I personally do know somebody who owns an apartment building. Okay. So, they turn around, they sell that apartment building. Now they're looking at selling…   Peter Merrick  27:25 Because they get up and down it because…   Will Dove  27:29 They sell it for a million dollars more than what they paid for it, there's their capital gains, how much of that are they going to keep now, as opposed to what they would have kept before these changes to the capital gains tax?   Peter Merrick  27:42 Okay, so just a basic number, they're going to have with the tax that they paid in the past, about $250,000 in tax. And now they're going to end up paying about $300,000. And the reason is going to be $300,000 because the new taxation does not kick in until the first $250,000. And the point that I was sharing with you, which I want our viewers to understand that it's great. They fixed it as a number of $250,000. So, a lot of people won't have a gain more than $250,000. But there's been rapid inflation. Like someone who bought a home in Vancouver $100,000, let's say in 1980, that thing's worth a fortune.   Will Dove  28:37 Yes, and there's a lot. But we're just talking about an investment property. And I need you to inform me on this, Peter, because I'm still unclear whether this capital gains applies to your primary residence because it didn't used too.   Peter Merrick  28:53 It doesn’t. But I do want to share something with you. And we're going to talk about the - that we haven't gotten there yet. Because that's the part that really scares me is that a few years ago, when you sold your principal residence, they were required that you filled out a form, you notify the government, that never happened before and they want to know you sold your principal residence. If you do not fill out that form, when I sold my principal residence in Canada, if you had not filled it out and notify the federal government, there was an $8,000 penalty.   Peter Merrick  29:29 Now you do not pay tax on it. But they said you have to tell us. So, I only look at what I'm told. And what I mean by that is I put things together you can be accused, and this is where I'm going to step outside, what the regular person in the financial industry would talk about. I look at what the angle is. And I look at what's been told. So, for example, we've mentioned early in the interview that few of the land happens to be a record of a World Economic Forum. So, let's go and step back and look at Klaus Schwab, of what has he told us, he said to us that, “you will own nothing and be happy”. He literally said that.   Peter Merrick  30:18 So, that's the goal, because I shared with you before a situation, an experience I've had in my first-year university, and I think this is important for all your listeners to understand. In my first-year university, I was taking a psychology course. And there were multiple choice exams. And I took six of them, and the worst one got thrown out. And the professor said that if you got zero on any one of these tests that had 50 questions, he would give you 100%, because statistically it was impossible to get zero. That meant you had to do it intentionally.   Peter Merrick  31:00 I stepped back. Can they be this stupid? Because I listened to all these accountants, a lot of tax lawyers, and they say they're so stupid, they're destroying our business, whatever, don't they know? Don't they understand? Well, if it constantly happening, it's intentional. So, I stepped back because they're not looking at – Chrystia Freeland happens to be sitting on as a director of the World Economic Forum. And they’re not paying attention that her father worked for George Soros, that she was going to read his biography. She said, she's a lifetime. And I don't understand it, because he's Jewish. And her grandfather was buried under Hitler, under Goebbels.   Peter Merrick  31:44 You know, I'm thinking, well, maybe he was emptied on track. That's just my opinion. I don't know. My opinion. You know, he was placed there, she was placed there, we look at that you say, okay, the end goal, that he's come out and said, you will own nothing and be happy. So, let's go and look at all this stuff that's happening, destroying Canadian business, it's making it to the point where you can't own anything, then you won't have anything that if you screw up, and you don't file all these forms, you're going to have, government's going to seize it from you know, you’ll own nothing and be happy.   Peter Merrick  32:20 They got UNDRIP. They're basically saying that the land belongs to the native of Canada, but they don't define what an aboriginal is. It could be you, me, up until I was 50 years old, except for going away for a year or two or three, in my entire life, every atom in my body had been conceived and nourished Canadian. Isn't that make me native? My parents were natives, right? Like, so you're looking at that they want to take all the land and transferred over to the indigenous population. We don't know what and how that's defined. But in essence, if they can't administer it goes to the UN, it says that in the treaty, it's been signed by our government in 2005. It's there.   Peter Merrick  33:11 And I want to share with you something that scares me as a Canadian. And I made a commitment to myself that I'm going to work with Canadians who see this, and are waking up and say maybe I don't want to be in Canada anymore, because I have the ability right now - is they introduced in this budget, Section 150, and that is bare trust. And what that is and has to do with anything that's a trust or an agreement. So, it could be a verbal agreement too, if I do not report that to the government, the way it's actually written, I will be off site. And they will levy penalties on me. It's going to be administrative impossible for the average human being, for example, I'll use this example, your mother doesn't tell you that she's made you the executor of the will, you did not tell the government that you are the executor of the will. So, guess what? You are in trouble.   Peter Merrick  34:16 You don't even know that you are executor of the will. Or you go and open a bank account for your son or your daughter. And you have not told the government about this. Well, that's a bare trust. So, in essence, they're going to make it so administrative difficulty, for the average Canadian, anything over $100 will make them a criminal. I could see what they would do - what I would do, because if I use the term if I was to babble, what would I do? I would go and make it so difficult. Think of like during COVID, you know, it's like the government like they put all these restrictions. We've never gone back to normal, but they release you from your home things like your natural rights and Canadians put up with it, they're going to make it so difficult administratively that everybody is going to be offside. And the government is going to say, we're such good people, what we're going to do is we're going to relieve you of this stress, all you have to do is switch over to our centralized digital currency that has social ID, that will go into your big debts, we’ll take care of it all for you. And if you do that, we will forgive you of the $300,000 or $400,000 of administrative penalties that you've accumulated because you've broken the law.   Peter Merrick  35:39 So, they just turned every single Canadian, if this gets through this section in the Income Tax Act that no one is talking about, everybody over $100 will be a criminal in Canada. And in essence, you look at the end goal, you’ll own nothing and be happy, you want a herd to attach or the sheep into the crowd. That's exactly all this stuff made sense. Because if you look at it independently, you say, how is the government feeling competent? I think that AI models that they know exactly, you and I exist, Will, they know you and I exist, they know a certain percentage of population, that could be like you and I, and we're going to say, I see this, and we're going to tell people, and they know that and they're going to isolate us, and they're going to get the sleep bulls to attack us there. We're crazy. Because we're actually pointing out that this doesn't make sense. Well, this makes perfect sense to me.   Peter Merrick  36:36 So, when I look at the budget, that doesn't make sense, like why would someone want to destroy a country? Why would they want to have so much debt? Why would they make decisions that just make no sense? Because if we go back to Klaus Schwab, and he says, “you’ll own nothing, and be happy”. And then, if we go to 2017, when he is at Harvard, and he's speaking about one of his great protegees, happens to be beyond just in Trudeau, and he went to a cocktail party for the Canadian cabinet. And he was so proud that 60% of them at that time, were graduates of the young global leaders. And you know what they don't talk about? There's a young global influencer, and there, throughout the Canadian government. And I had a personal experience, and I'm not going to mention the person's name. But this individual, it looked like I was a liberal, not because I was liberal, because a client of mine, a colleague of mine, who I'd brought with, he decided he wanted to get back to Canada. So, he ran twice for the Liberal government, the Liberal Party, but they lost.   Peter Merrick  37:54 And this is during the that era. So, he had a brilliant idea. His idea was he was going to run for leadership, and just raise his profile with a lawyer. I kept on writing and checks on him, because he is a friend of mine, nice to have one of these entities that these events get into power, you'll be able to be the only normal person there. So, he ends up running for his writing in Ottawa, he wins. Well, because he's not part of the young global leaders, they decide to take away the writing they put in someone who is the former head of NATO.   Peter Merrick  38:39 So, there's no democracy, there's no you picking your leaders are all selected. They don't get there. I don't trust the conservative head. I don't trust any of these people because they don't get there unless they were selected. And a little about my background. I was the at student government. And unfortunately, one of the people that I was in student government with Jian Ghomeshi. Remember Jian Ghomeshi?   Will Dove  39:06 So, you have to remember, four years ago, I paid no attention to politics. So, you'll have to refresh my mind.   Peter Merrick  39:12 No, this wasn't politics. This wasn’t politics. He was at the MeToo movement. He had a show on CBC Radio.   Will Dove  39:21 Oh, okay. Yes.   Peter Merrick  39:24 And he was the first MeToo. There were a bunch of lawsuits against them for harassment and everything. So, I just want to share with you, his degree was in women's studies. Pretty interesting, right? So, what I noticed when I was in student government, there were two types of people, there’re betas, and there’re psychopaths. Betas will just do whatever, I have no backbone, and then you've got people who, you know, they like the power and if they were able to get away with something, they will get away with it and it's a waste for them to do feel that in normal people like you and I, we want to go along with our business and be left alone.   Peter Merrick  40:07 And the perfect example is you're saying four years ago you didn't pay attention to politics, why should you? You and I were like going in, like living our lives and we looked at the government as a cold sore that you just want to like keep under. That's literally how I looked at it. Then until they moved into my world and they did move into our world. But getting back to them, budget, the budget looks like was put together by real idiots who just don't understand how economics and finance work. And this is the way most people are approaching or professionals because they don't have, I was going to say balls, let's say that's true. That was God forbid, I’m not in Canada Indian anymore. Like I like I'm going to speak the truth right now. Does it hurt?   Peter Merrick  40:58 I cried during the lockdowns because, like, I love Canada. When we last spoke, I was looking at your flag. And it's like that was emotional for me because like, I think fully that Canada was the greatest country in the world. Like, I truly believe it was the greatest country in the world. Like it gave my family so much opportunity. Like I'm from Toronto, it was a safe city. It's not safe anymore. There's stabbing or shooting every day. That was nonexistent when I was growing up. It was civil. There was an outright racism. There wasn't like protest. What's a protest in Canada? Right? Like, you know, however, it's not like that anymore.   Peter Merrick  41:44 This budget is just, if you look at what's happening is this giving us like 1000 little facts and moving us towards an end goal. And many Canadians are polite. And hopefully there's enough of us who are like what started protests because I don't think anybody's agreed to this. Nobody agreed to this. The equity that's been pushed on us, the changes to the criminal and Human Rights Code, the carbon taxes, the mass immigration, all these things, no buddy agreed to this, right. And this budget is no different. This budget, no one agreed to this. And on top of that, this is meant to make Canada unproductive. This is meant to take every cent away.   Peter Merrick  42:41 I want to share with you what I'm hearing from my colleagues who are accountants and lawyers about what's happening with the money in Canada, because it's scary, every single Canadian, because you're going to get stuck with the Bill. They're going to be like when you were invited to a birthday party when you were a kid. And if you stayed long enough that you guys didn't take individual bills, you ended up for a hamburger spending 300 bucks because there were people who left who didn't pay. Well, guess what? The money is whining and I want to address that in a moment. Sorry for jumping in, share with me, Will.   Will Dove  43:24 I do want to get to that in a minute. But I'm also glad because there's another tax we haven't really talked about yet. You just mentioned it, the carbon tax. And when questioned, once again talking about Ms. Freeland here. When questioned in Parliament about how much money the government was bringing in in the carbon tax, she refused to answer the question. So, we've got this tax that is crippling our economy, especially for businesses to supposedly address a problem that doesn't exist because my viewers and you understand, there is no such thing as manmade global warming, it's a total BS. And they won't even tell us how much money they're bringing in.   Peter Merrick  44:06 And we don't even know where that money's going either. They don’t tell us where that money’s going.   Will Dove  44:11 Prior to this interview, I looked up how much money does the government bring in every year, the most recent figure we have for taxation income for the federal government 2022 is $433 billion. But now, even if we had the 2023 figure, it's incomplete, because we don't know how much they're getting from the carbon tax.   Peter Merrick  44:35 We don't know where that money's gone. We don't know where that money is going. And in essence, what's happening is they're hitting us at all sorts of ways and they're calling us names.   Will Dove  44:46 So, Peter, talking about - you were mentioning just a few minutes ago, things you're hearing from your accountant friends in Canada. And I want the viewers to keep in mind that this is all within the context of everything we've been discussing that not just this budget, but everything that Trudeau’s government has done since 2015, is designed to shipwreck our economy and to bankrupt Canadians. So, with that in mind, please tell us what you're hearing from the accountants.   Peter Merrick  45:19 Well, for many of your viewers, a little background on myself. I was a university prof teaching finance, I wrote books on succession planning, estate planning. I read textbooks; I wrote for the largest accounting publication for 18 years. So, I know the top people in the country. I worked with them, I interviewed with them, I've worked on cases as a consultant, and I like to write. So, what's happened is, there's a flight of panache, there's people leaving. I have a colleague who's working on - individuals who were over $1.2 billion, I didn’t say million, I said billion dollars, they were going, they were leaving, they've had enough, the lock downs, and I mean, it’s very patriotic. They're out West, in your part of the world. And because of the changes for the capital gains, he told them that you have to leave this week. Because if they stay and still occupies Canada, last year of June 25, they're going to be taxed at about 30%, more than they would have, if they left afterwards.   Peter Merrick  46:38 So, they're running. And then the analogy a lot of them are having who are really starting to think about leaving, they don't like about protests and all the things that have happened in Canada, the month that's about to happen, and the fact that they're not allowed to raise their children, all that stuff, or their grandchildren, the antisemitism that's rising up. Because let's be honest, it doesn't matter what not being 6000 miles away, like what's happening on those campuses, because history shown, if you'd get attack in any country, like that's a canary, that's a canary in a coal mine. Because Hitler killed 6 million Jews, but there are 100 million people who died in the Second World War, that’s hundreds of millions of people were detained. And there's something called the Jewish test. And it's also called the Israel test.   Peter Merrick  47:34 If you look at our country's needs to choose, the GST, well, it means the country is very liberal and free. If they put them in the bag, we’re like Syria, and Iran, and all those things. You have to look at them. It's a form of reductionism. So, in essence, Canadians, you better start fighting this antisemitism that's being allowed to be produced in Canada because it's about taking down your right because that’s what's going to happen. They’re going to be these terrorist attacks, whatever, it's going to be a great excuse for the government, and put you on lockdown.   Peter Merrick  48:08 And I was told by a good friend of mine, that the Canadian Army is understaffed, and right now they're taking refugees, the people who come in, people who have no connection to Canada, and they're actually putting them in the army. I should probably speak more than I can. But it's like, they're tainted. So, what's happening right now, there's people who say, I have the means to leave. And we're talking billions of dollars are leaving. I have a colleague out West. He's got like 700 files, I’m not going to give his name, but he's got 700 files and people are giving up on Canada. I know, Toronto that they might do with six people a year who are leaving Canada. They've got about 200 people who are lining up.   Peter Merrick  48:51 I was speaking to one of my largest clients in Toronto, and he's starting the process. He went to a firm in Buffalo and the firm in Buffalo. We're talking, these are wealthy individual families, very wealthy. Canada will lose a wealthy individual. And this firm in Buffalo that has specialized in doing cross border for Canadian accounting firms and law firms. They said they couldn't help them. And they're not taking on a new client for a year. Because they have to service their current  coming from Toronto. Think about what that means. Think about the brain drain, think about who's going to be left over.   Peter Merrick  49:36 You imagine like, who's going to be left over in Canada? Because it's not going to be the people who actually made the country great. I remember when my wife got a Canadian citizenship, and she was American. Well, everyone on the podium, they were all recent Canadians. It's like I’m going to tell you about Canada, and I didn't have that experience. You and I just had that conversation, when I talk about Mr. Dressup, you know who I'm talking about.   Will Dove  50:09 Yes. But I want to ask, Peter, now, it's something just occurred to me as you were speaking, and you're talking about all this money is leaving the country. And of course, that means they're selling off assets, they're leaving all this stuff behind. And I want to go back to the vacant land tax that we were talking about earlier, because what I interpret there, because we know that foreign powers are buying up an awful lot of property in Canada, especially the Chinese, but lots of others, so that they basically end up owning all the property here.   Will Dove  50:41 I think the vacant land tax is there to push people to sell it now, before they're going to be taxed more, and who's going to buy it? Born investors will build houses on it, or rental properties on it, because they want everybody renting. So, they want to own all of this. So now, where my mind goes with this, as you talk about all of these very wealthy people who are leaving the country, selling off their assets, well, who's grabbing up those assets? And what are they doing with them?   Peter Merrick  51:06 Now, let's take a step further. The closer you are to the pension requests, better, like the cheaper you get money, right? So, who's buying it, right? It's like, you're exactly right. Like, someone who is able to go and get like, the huge deficit, all the graphs, like, everything that the government is producing, these people are getting access to that. They're getting access to the cash. Can I share with you something that that I found very interesting, especially to the business owners that are on this or were listening to us right now?   Peter Merrick  51:45 Because I can't help but think about new conjectures. And there was a book that I would recommend everybody read, came to me about 25 years ago. It's called, The Art of The Long View by Peter Schwartz. And I'll give some background and give context and how it can use for you to actually look at what’s dropping and how’s their perspective. Because I think that framework is very powerful, because that's how I operate. And I have to give credit to that book.   Peter Merrick  52:21 So, Peter Schwartz worked for Royal Dutch/Shell, they were one of the largest oil companies in the world. And he was part of their planning group. And they were making a decision where they going, in the early 80s, late 70s, where they're going to invest in developing new oilfield. And they looked at the best-case scenario, the status quo in the worst case. So, the worst-case scenario was what would cause the oil price to go down? That would be the worst case. Based on that, they say, well, the Soviet Union could sell to Western Europe.   Peter Merrick  52:59 So, they started going to universities and looking at papers, and they were able to even identify Gorbachev as being an up and coming, that he could eventually become the Emir. And he wanted there to strike and open up. And that would allow the oil to go down, because Russia would be able to sell all their oil to Western Europe. So, they made the decision not to develop oil fields, and they shared a lot better when the price dropped from like $9.   Peter Merrick  53:31 So, he wrote a book called The Art of The Long View. And he goes and says, look at the best-case scenario, or status quo, or look at the worst case and do the actions. So, I look at what's happening. And I start asking questions of what the government's doing, what it's going to do next, and actually, it's not like these people are so different than Hollywood, they do remake some movie, they knew it works.   Peter Merrick  53:58 So, for business owners right now, what's being pushed happens to be life insurance by financial firms right now, brokers typically don't understand what's going to happen. And the reason why life insurance is being pushed, is because you take corporate money after tax money that let's say you were to 12% or let's say, 26%, you can buy into a life insurance policy, grows tax free, and then when you die, the money is fully comes out, free out of the company, no other asset does that. You could use it on like an RSP, you can use it as collateral personally, you can live on it personally tax free, and eventually it's all going to come out tax free.   Peter Merrick  54:42 So right now, there's nothing else left for a business owner, other than to buy a life insurance policy with the money that they accumulated within their company. Well, right now, that's the only thing that's left and I'm starting to think that there's got to be these super AI computers out there that actually understand what we're going to do next, right? Because it's not like individually, I can't predict what you're going to do, Will, but we can go and predict.   Will Dove  55:12 Well, I believe, based on what I've been told and I cannot confirm this. I'm going to confirm it myself, but I heard it from someone I consider to be a reliable source, that for over 10 years now, BlackRock, most of their decisions have been made by an AI.   Peter Merrick  55:28 Oh, yeah, they've got something, I think it's called Aladdin. And it influences $24 trillion worth of assets. So, they're only managing about $10 trillion, but they're influencing $24 trillion. So, you're right. I was listening recently that AI is really been around for like 25 years now. And what we're seeing with chatGPT, that's like, I don't know, like a newborn.   Will Dove  55:53 Yes. And I agree. I agree with that theory. And I agree with that theory on the basis of something else that I know. When you go there, and you buy the latest cell phone, okay, they've got technology way beyond that. They released them, just these little upgrades to maximize profit.   Peter Merrick  56:13 It was not just a profit. I don't think there's profit anymore. I think it's about control.   Will Dove  56:18 Yes, but I'm talking storage. I mean, cell phones, we've had those for 30 years now. And yes, they develop technology to make them much more powerful, much faster. They've had that for ages. But they released them, just these little improvements, so that they can maximize the profit. And I think it's the same thing with the AI what we are seeing, because remember, Sam Altman, OpenAI, who is one of the globalists very closely associated with WEF, he didn't want AI to get into public hands. This was a major disagreement that by the way Elon Musk had with him and why they went their separate ways, is because Musk saw what they wanted to do with AI, and Altman didn't want the public to have it. And I think what we're seeing is just these little dribbles of that technology, what these guys have, people like Altman have is way beyond anything we've seen.   Peter Merrick  57:12 Will, I even figured this up further, I've gotten to the point where it's like, it's just demonic. I don't have the ability to fully process it, but it's just what's happening, it's just anti-human, like the bot? And that's really what I'm looking at.   Will Dove  57:26 Anti-human is exactly the word because once the globalist came right out and said, they want to depopulate the world.   Peter Merrick  57:33 Right. And that's really what I - when I looked at the budget, and I see what happens, and I see all these taxes and all these things that they're doing. Really, it all leads to that. Getting rid of humans. And I think what it comes down to, because there's too many people that you and I, it's got natural pandemic panic, enticing more people. However, people like you and I who are asking questions we’re dangerous. So, you have to cut them down the herd.   Will Dove  58:03 Because I can explain, our overpopulation is self-correcting.   Peter Merrick  58:08 I think it's a lie. I think it's a real lie. I actually did a calculation. I added up the top 500 cities, I took in the greater areas, it would be a billion and a half people and then if you put like a billion people in the rural areas, that's less than 3 billion people. It really is a control thing. It's like to get us to believe things that are not true. I truly believe it comes down to that. The only thing that's not sellable is your soul. So, I want to go, I want to share a few things with your people. I work very closely with Adrian Spitters. I think she does God's work; I really do. There's two people I've worked in my firm who are doing it because - they don't have all the answers but they're doing the best they can and they're searching or bringing that information to people.   Peter Merrick  59:04 If the market falls down, if it lapses because it's not fiat currency which isn't real, people know how their money is actually graded. We've talked about that before, it's like make believe, like the monopoly money because it's not real and they can just produce it and lose its value. I don't trust those, I personally don't trust them because, I really do this or whatever he created, and like no one knows who he is. And they tweaked the stories and they get all these people in and they may think that this is real. And that I can hold it, I have a can of coke right here. I can hold it; I can touch it. Now in essence, I think that things are going to blow up that are worth nothing, in order of blowing up. And Adrian I made this list, more than me. But those of you who are not dealing with Adrian, you should call him up, really, bright guy, it's really just for him.   Will Dove  1:00:02 What little I know a bit finance on a global scale, I learned from Adrian. So, I agree with you.   Peter Merrick  1:00:08 And Adrian and I have conversations all the time, we, like spoke a couple of times. Because I don't know how to get it in, in essence and if the power goes out, how you going to get it? I was hearing speech. And that's what I would call it because they are going to pump and dump, you know, on this stuff, saying, oh, the natural down there, like they're going to have the handheld radios and that's how they're going to go and tell you fiat currency. And we can’t hold it, see that’s the problem. We need to materialize everything but we're still material beings, right? It's a crypto derivative. You know, these things are crazy. I was told that the debt worldwide is really about four $4 or $5 hundred trillion dollars, not like the 32 trillion they're talking about. But if you put the derivatives there, that’s quadrillions and nobody's stopping them, it's all this belief. It's not real.   Peter Merrick  1:00:05 And then there's GICs, T-bills and cash, those things, instead of that you would want to own gold something mad, like, you know, is it is handable. Maybe, for some people not in Canada to get there, maybe bullets or whether it's something you can actually be jaded with it through, farmland, things like that, of a skill maker community, right? Like, old property, owned things that you can buy. Like, I'm going to share something with your audience. I worked on the Canadian Securities Course. And I'm telling you, I worked on the Course, say what brokers have to take? I own gold and real estate. I don't like stocks. I don't know, crypto. I was recently on a call, I became good friends with Justin Trudeau’s brother, Kyle Kemper, we're friends. And Kyle, he's the black sheep of his family.   Will Dove  1:02:03 I interviewed Kyle, yes.   Peter Merrick  1:02:04 He liked crypto. And he was teaching us crypto, and he asked me about a wallet. And the thing is, I don't. Because I like to tighten things. I like having conversations with people. I like walking, I like doing things. So, alternative types of investments, which would be single family rentals, would be your personal rentals, they'd be things that you could touch. If you're going to be in the bit system, I would recommend you buy life insurance products rather than banks. And I want to explain that to your audience, what I mean by that?   Peter Merrick  1:02:45 Number 1, was sharing with you that they're hurting all the business owners, all their assets in the life insurance. And this is a theory, a conjecture that has to do with what I was shared with you,  the article Long View, best case and worst case. So, they get all these people, all these people who don't ask the questions that you're asking, Will, that your audience is asking, like, what's the worst-case scenario, they're saying, oh, this is available, I can do this, I got my half a million dollars in my corporation, I’m going to shove it into a life insurance policy because it grows tax free, and I can use it as collateral. And then when I die, the money will come out tax free. And they're all being herded into that.   Peter Merrick  1:03:25 The only reason it makes sense is, unlike when we're talking about the capital gains in a corporation, we're only 50% of it currently is eligible to be taxed, and it's going up to 66% that is going to be taxable. If you put the money into a life insurance policy and you die, none of it is taxable. But you can see like this is - what is life insurance? It is a policy of the government. They know what it does, it's been sold that it's for widows and orphans. And if you have money, you can drive a truck to it. It's basically written into the Income Tax Act; they know exactly what it is.   Peter Merrick  1:04:07 So, if I was the government, I would allow all this money to go in because, like a lot of our financial institutions are having problems right now. Everyone would go into it. And I'm going to share with the audience something that's counter intuitive, in a second. So, what's going to happen is people are, like all these people selling us it or the insurance companies are so big, they wouldn't allow the government to get rid of it. Well, there's lots of history where the government just changed the rules. So, imagine they do that, people their motivation for buying a corporately owned insurance policy was the tax benefits. But then the government says no, why should business owners get an unfair advantage over the regular one? Like someone who worked for the government of Canada got a pension plan, right? Why should they have an unfair advantage, right?   Peter Merrick  1:04:56 And listen to this, and this is something I’d never said, I'm saying this on your program. And this is a prediction, and I got to share with you, my colleagues back in Canada are going to be hating me for saying this. I believe that the insurance companies are going to say, oh, we're going to fight for you, we don't want to get rid of the capital dividend account, it goes against, like 100 years of tradition, like the government shouldn't do this, they're going to fight for it, but then they're going to lose. Because we know what's happening, right? I read the budget, right? They put in the FACT tax for native, they put in capital gains, they put it in the WEF tax, they put it in the capital gains increased, and they put it in the vacant land tax. And they're also going to be putting in that legislation for bare trust, like, the insurance companies are going to like be your heroes, and they're going to go and lobby the government because they make such big contributions, they're going to lose. And you know why they want to lose? Here's the counterintuitive part, your insurance companies do better if they paid a premium or you cancel the policy?   Will Dove  1:06:07 I don't know.   Peter Merrick  1:06:10 Just take a guess, counterintuitive.   Will Dove  1:06:14 My guess as an average person would be is they're better off if you're paying the premium because of the income coming in. But I suspect that's not the answer.   Peter Merrick  1:06:20 No, that's the counterintuitive part. The lapses, they make the money on the lapses. So basically, they're forced to have reserves. Insurance companies are better than paints like any of your clients who are going to buy, let's say, GICs, I would say come to me buy a GIC from an insurance company, but not any type. And I'll talk about that a lot. So, I'll give you an example. You have a participating life insurance policy. There's a reason why the stock companies such as Manulife and Sunlife, want to sell you what they call a universal life policy. Because when the lapses happened, that's profit. Because they have to keep reserves, they can release those reserves. So those money are going to go to the owners. That's why Pension Plan love owning it. BlackRock loves owning insurance companies. That's why Warren Buffett loves owning insurance companies. Because though when they reject the rate of return, they look at what the bonds are and what the real estates are able to sell you, 5% and that's what they're legally allowed to deduct. But if you look at some of these mutual life companies, the actual dividend being paid is 10% and 11%, consistently.   Will Dove  1:07:37 Okay, so…   Peter Merrick  1:07:39 So, I want to share with your audience, that I would buy products at a Mutual Life Insurance Company, which means the policy holders are the ones who get those lapses, because there's going to be a lot of lapses happening, because if I bought, if someone sold to me, the life insurance, not for the death benefit. Yeah, I love my kids, I want to take care of estate planning and all that stuff. And that's what I tell, for tax purposes, for the government to say there's an actual reason for it, but I'm buying it because I am able to take a half a million dollars in shelter from the government, access their money by pledging as collateral when I die, the loans paid off with tax free money. Well, when that's taken away, a lot of people who went into those policies, they're going to cancel their policies. And the question is, are you set up that if you're going to be in it for the long term, are you going to benefit?   Peter Merrick  1:08:39 You have to be in a mutual life company, because all those cancellations are going to work out. I'll give you a real example. I don't know if - when you had a kid, Will, that someone approached you to sell license, would you buy life insurance on your kids?   Will Dove  1:08:55 Yes, yes, they did.   Peter Merrick  1:08:58 So usually what happens, those are really great for people who are wealthy, who are pooled with those people. So, a lot of kids who their parents said, hey, I got $30,000 for you in a policy, it's cash. And they can keep this policy forever, and they can grow whatever, or they can cancel it. So, what happens usually?   Will Dove  1:09:16 Usually, it gets cancelled, ff course.   Peter Merrick  1:09:18 That’s right, so they’d buy a motorcycle. So, basically, what's going to happen is, there's going to be a lot of people who are going to be like those kids because they bought the policy, the way they weren't buying it because of the death benefit, they were buying it for the tax advantage. So once that is taken away, you're going to seek funds, policies been cancelled, insurance companies are going to have record profits, and Canadians are going to be further grimmed. Okay, I'm going to…   Will Dove  1:09:51 I want to throw something else into the mix here. Because once again, and I think I'm good of asking this question because most of the viewers are going to have about the same level of financial knowledge that I have. A lot of the stuff that we don't understand. So, when you start talking about insurance as being a good investment, the first thing that I lead to being who I am, and the data that I have, is this 40% increase in deaths in the working age group since 2021, and we all know where that's come from. And so, I know that insurance companies, they have their actuaries whose, you know, their job is to calculate the odds to make sure that the insurance company will remain solvent. Now, have they calculated in this? I mean, what happens when all of these people start dying, and they have to pay on all these policies?   Peter Merrick  1:10:44 Oh, let's go and look at most of the sudden death that you are referring to. So over now, it's like, it slows down, right? And people now have to go into their savings and what are they going to cancel? What's going to go first? They need food and they need to go, what are they going to cancel first?   Will Dove  1:11:04 They have to pay and you're going to put food on the table for your kids? Yeah.   Peter Merrick  1:11:10 You’ll let it go. They know that's going to happen. This is all built like these actuaries like, I think it's beyond actuaries. Now they got they got this AI, that they basically could do 20,000 calculations in a minute. But this has been planned.   Will Dove  1:11:27 And what’s you're telling them about the insurance companies is far from being under threat of going broke. They're going to make record profits.   Peter Merrick  1:11:35 Oh my God, so much. There's so set up to make money. Oh, yeah, it's going to rain now that - let me share with you. The people aren't having young families anymore. So having a record profit, or money going into these policies, because it's that sufficient because it has something called when the person dies, let’s say with a capital gain you’re building, you're only going to able to take $3 million out and end up with 5 million. The life insurance if I paid the money into let's say put a million into, it got benefits 10 million that comes out in three, all of it. You’d only end up with half of that, you can get - and you have access to your money and it got benefits. But what happens if they took the benefit away?   Peter Merrick  1:12:21 And there's so many things, remember, I shared with you the worst-case scenarios, this is the last thing like the last two things that have not been attack: the principal residence, okay, let's look at the principal residence. We're hearing Trudeau say, maybe he'll save for the first $200,000 you won't pay tax, and then he'll then output a capital gain, you know, raise it up. Well, is there anything that would make me believe that this would be implemented? Well, in 2016-2017, they implemented, when you sell your home, you have to actually submit a document to the government. And if you don't do it, you’ll pay penalty. Okay. Like, how hard is that to think that it's going to go further?   Peter Merrick  1:13:05 I also look at the fact that they're implementing the bare trust, where any agreement that has to do with finance or any trust, and that could be, like, I opened up a bank account for a child or, things like that, if I don't report it, I am in trouble. So, is there anything that shows me that they're going to make a fundamental change? They did this in 2017, we completely rewrote how corporations, small business, people were shocked. And then I look at it almost like there's three fuses here. Well, it's 2017, the government comes out in the summer, the Liberal government, and they say that we're going to completely change how private businesses are taxed, because they're tax cheats, like they're already like, sort of like the Soviets, you know, when they would go and say that the farmers in the Ukraine were like the bourgeoisie, and they killed them. And then everyone startled, like, people don't understand their history. That's exactly what Trudeau started saying, like these people, why would you want to attack? You'd want to attack because if you have a vibrant, middle class that's financially independent, they don't have to rely on the government.   Peter Merrick  1:14:19 So, they're bringing in people who need to rely on the government. They're actually trying to take away from people who have assets, who could say, no, I'm not going to participate in it because I don't need a job. I have to share, going back to Adrian and we've spoken about it. But I have to share with you that 5% in Canada that was smart enough to say that's enough, even if they know, I would say a big majority of them were entrepreneurs who had enough resources to say no.   Will Dove  1:14:53 Yeah, there was a lot of people who were unfortunately put in a position that was untenable. And I feel for these people. I don't judge them, they were put in a position of - take the shot, or you're going to lose your house, you're not going to be able to feed your kids. But there was a lot of us, people like myself were self-employed, who were able to say, no, screw you, you don't have any handle on me.   Peter Merrick  1:15:16 Now, they're going after people like you and I. So, we won't have that ability to do it. That’s within this budget bill. So, getting back to what I was sharing earlier, that money is leaving, smart money is leaving Canada, because they know that eventually, that they're going to not have anything because everything is being put in place to say, we will take everything away from you. So, you have to bend the knee to us. And I'm going to give an image from a movie that sticks in my mind that actually - and maybe your audience, I'm assuming they're our age. So, they're going to know this movie, it's like Titanic, but just dated myself, because this was like 1998, or something ‘97 when they came out.   Peter Merrick  1:16:07 So, Kate Winslet, she is engaged to this guy who's supposedly a wealthy asshole. So, the boat Titanic is sinking, and the asshole guy, he goes up to the crew member who's letting women and children into the lifeboats. And he offers him a stack of money, this thing. And the guy says, fine go in. And then he goes and want to look for his fiancé, I'd say who fell in love with another man. And he comes back seven minutes later, and he offers you the stall, that it's worth, like a billion dollars. And the guy says to him, no, worth nothing now.   Peter Merrick  1:16:56 So smart money is doing this, Will, they're saying, I just got slaughtered. In essence, if I have the - will wealth, I was a wealthy guy in Canada and was like just to do simple planning, I might be able to pay 30% tax on my way out in the old world. Now it's 40%. But in essence, eventually, it's going to be 0%. Because that's where it's moving. So, I didn't plan to do this in my career, because I'm a nationalist. I work with Canadians in planning to take their money out. And I'm damn good at it. I wrote three textbooks under the Income Tax Act in Canada inside out. We'll know the tax treaties inside out. And I don't want to say this. I do not want to believe that my country is gone, but I'm not happy with the leadership that's been placed in.   Peter Merrick  1:18:01 Listen to an interview with Artur Pawlowski. Is that his name?   Will Dove  1:18:06 Yes. Artur Pawlowski.   Peter Merrick  1:18:08 Have you interviewed him?   Will Dove  1:18:09 Yes.   Peter Merrick  1:18:11 Well, I remember him saying that he was visited by the Conservative Party, because they've decided that they're dialectics where they're now going to put in this new guy who was nowhere to be seen. And I've heard questionable things about PCR tests, and his wife was involved in a competent, I'm saying this, I'm not in Canada. You know, it's like, it's just - basically it's a distraction. But if you know the end plan, then everything makes sense.   Peter Merrick  1:18:52 And I'm going to step back and leave this with your viewers, where I'm very clear about Canada, Klaus Schwab comes out and says, “you’ll own nothing, and be happy”, and he said, not all of us to be robot cleaners, right? You’ll eat the bugs. In 2017, the same time that Trudeau came out that we will get into all about it that, you know, gains business, our business with stocks. He is over at Harvard, speaking to Bergen, who I don't know, is a Democrat, like insider and he's in charge of this policy program. And Klaus Schwab is talking badly about, that Trudeau is his puppet, his dog king, like he's so proud of him and he's so proud that they captured, he literally says it on tape. You guys don't have to take my word for it, on tape - that they captured 60%.of cabinet of Canada.   Will Dove  1:19:54 He said that out right.   Peter Merrick  1:19:58 He did. And so, when you look at this, and you hear the fact that Klaus Schwab and they're open a bet that you’ll own nothing and be happy. This budget, it doesn't make sense. Why would you want to go and attack people making business? Why would you want to break down society and overwhelm it with people? Why would you do this? Because if you know the end goal, then it all makes sense. If that's the case, if a typhoon is coming in, but I read this budget, and I read about the bare trust. Now it's going to make every single Canadian, a criminal. And we're talking - even the former head of the Bank of Canada, who is the Bank of England, he's also part of it. These guys don't think, they just go and...   Will Dove  1:20:53 And Mark Carney is being pegged as potentially Trudeau’s replacement. And that would be a disaster because now you've got somebody who's not an idiot, who understands finance. And who is another WEF crony. And so now you've got somebody who actually is not only on board with their plan, but he doesn't necessarily need them pulling his strings to execute the plan. But anyways, I don't want to get into that, because I wanted to finish up with this interview.   Peter Merrick  1:21:21 Please, sorry for getting diverted. But you know, it's quite passionate.   Will Dove  1:21:28 But I want to get back to just this final question. And I want your thoughts on this. And we were discussing this prior to the interview, throughout that $98 billion budget, Freeland announces in March, a month previous to that, she raised the maximum limit that the government could borrow by $517 billion, which means that this year, the government could borrow more money than the entire budget for the year. What do you read into that?   Peter Merrick  1:22:06 We don't know where any of that money's going. Absolutely no idea. I have no concept of what a million dollars is like, sort of like you can tell me to build a house that’s worth a million dollars. But I don't know what a billion dollars is, I don't know a $10 billion. It's like they're, you know, they brought a Nazi that they ordered in parliament, right? It's like, the money's going over there. And we don't get to see what's happening in the Ukraine. And then like how it's being filtered or how their graft is being paid. We don't see it.   Peter Merrick  1:22:40 And this is, in essence, I think what happens is the ship is sinking. The CI currency is about to collapse, because people, it can't ride unless you have people who borrow, but nobody can afford to borrow anymore. And so therefore, the collapse, because when you go and get a mortgage for let's say, a half a million dollars, that mortgage didn't exist until you borrowed it, and they didn't build in the interest, so they have to go and lend out more money, so the interest can be paid. So eventually, they're not going to be borrowing anymore. So, it collapses. And that's one of the arguments. An individual that I spoke to a while back, Edward Dowd mentioned he was expecting that Mark was going to collapse because of the overnight lending. And for your listeners who don't understand what that is, the banks lend to themselves. And they stopped lending themselves.   Peter Merrick  1:23:40 So basically, the Federal Reserve was printing $2 trillion a night just to go make that happen, because it seized, like the whole system had seized at that point, because they weren't lending to each other. When you stop lending, it stopped producing money, you have to find people who want to borrow and you lend it to them, they create money out of nowhere. So, what occurred is COVID, the economy shuts down, and they really have an excuse to print unbelievable amounts of money. But all they did is just tried something that existed that the fact is, we're all exhausted, we can’t borrow anymore. And the only thing that happens when we stop borrowing, guess what? It collapses? And it's about to happen. Yeah,   Will Dove  1:24:25 So then let me ask you this, because everything we've talked about in this interview, about the budget, we keep coming back to, they are consciously bankrupting Canadians. So now when I look at that 517 billion in additional borrowing, and every time - because this government has raised the cap, within a couple of years, they've borrowed it. I think they're trying to do the same thing to the country to bankrupt the federal government. So that we're going to end up - you remember what happened to Greece years ago, and the IMF moves in and takes over because the country is bankrupt. What do you think of that? That's what they're trying to do.   Peter Merrick  1:25:03 They're going to, of course, like sure - but you can't look at anything isolated, Will, like, for example, we talked about UNDRIP. When they go bankrupt, are they going to say, we're going to go look for the lamb on the Bible? They're supposed to go and get the lamb back to the original person every 50 years, right? To the family, they're going to give it to the natives. And that's going to go to the UN, it's a reason. That's all it is. And but what is the reason why they're creating this money out of nothing, is they're devaluing it, but the people who are closest to the printing press, they're going in buying real assets.   Peter Merrick  1:25:39 And they're taxing real people who have real assets. And they're taking those assets, and they're using fiat money to go into those assets. And then there's going to be people who are going to leave, they're going to run. And that's what's happening right now. So, this is scary. There's so much money leaving Canada, that people with money, people who are like going to the States or going to Panama, they're going to Mexico, they're going to Costa Rica, they're going to Belize, they're leaving. And these are people who have contributed to society, they were willing to pay their personal taxes, because the system allowed them to build a business.   Peter Merrick  1:26:26 And now the system is turned on them. It's like your body, your immune system attacking itself, exactly what's happening and what allowed them to do what they did, and what they tolerated. They can't tolerate anymore. And I can tell you dozens of really high functioning individuals that Canada had produced. Who all the same way I do about Canada. And what frightens me with that image I share with you from Titanic, if you can’t leave now, will you be able to leave later? If you're going to pay 35% capital gains tax, if it was only 25% that you gave me for, well, that's better than having nothing. It's like someone chasing their losses, right?   Peter Merrick  1:27:15 It's like, oh, I lost 50%. Oh, it's going to go up to 200%. Oh, the conservative, they're going to get a power, it's going to change. It won’t change. I remember them already putting in that GST, and you had clutch and running back in the 90s, saying he was going to get rid of it. They didn’t get rid of it. And then you had like, Harper, he brought it down to 5%, the GST? And the liberals who were saying they were going to get rid of it, were complaining about it. It's like it's all a game.   Will Dove  1:27:49 Peter, I want to thank you so much, not just for your time for this interview. I can't imagine how many hours you had to put into reading a 430-page budget, so that you could come…   Peter Merrick  1:28:00 It wasn’t for you, Will. It wasn’t for you. For me to make the decision that I was telling my ties permanently to Canada, that's why I read it. It was like a letter that your ex-girlfriend sent you.   Will Dove  1:28:16 Yeah, more like the divorce papers that inform you that everything is about to become hers.   Peter Merrick  1:28:22 Well, yeah, that's very – yeah, not much different.   Will Dove  1:28:26 All right. Thank you so much.   Peter Merrick  1:28:22 The power of the state against you.