Just read this very interesting piece on Substack that I feel I should share:

Carney’s Checkmate: How Canada’s Quiet Bond Play Forced Trump to Drop Tariffs

Let’s talk about the moment Donald Trump blinked. It wasn’t loud. It wasn’t a tweetstorm or a rally rant. When the tariff threats that had the world on edge—125% on China, 25% on Canada’s autos, a global trade war in the making—suddenly softened. A “pause,” he called it. A complete turnaround from the chest-thumping of the past week. And the reason? Mark Carney and a slow, deliberate financial maneuver that most people didn’t even notice: the coordinated Treasury bond slow bleed.

This wasn’t about bravado. It was about leverage. Cold, calculated, and devastatingly effective. 

Trump’s pause wasn’t because people were getting yippy…

Turns our PM was at the helm, here! He saw what was coming and did something about it – no fanfare on the campaign trail, no waving flags, no patting himself on the back. He talked to the EU, to Britain, to Japan, others, with a plan – slowly sell their US Treasury Bills and let the market do the talking. They were ready for the tariffs that trump had announced well in advance of “Liberation Day”. When those silly tariffs were announced the selling began. It didn’t take long.

Rewind a bit. While Trump was gearing up his trade war machine, Carney, Canada’s Prime Minister, wasn’t just sitting in Ottawa twiddling his thumbs. He’d been quietly increasing Canada’s holdings of U.S. Treasury bonds—over $350 billion worth by early 2025, part of the $8.53 trillion foreign countries hold in U.S. debt. On the surface, it looked like a safe play, a hedge against economic chaos. But it wasn’t just defense. It was a loaded gun.

Carney didn’t stop there. He took his case to Europe. Not for photo ops, but for closed-door meetings with the EU’s heavy hitters—Germany, France, the Netherlands. Japan was in the room too, listening closely. The pitch was simple: if Trump went too far with tariffs, Canada wouldn’t just retaliate with duties on American cars or steel. It would start offloading those Treasury bonds. Not a fire sale—nothing so crude. A slow, steady bleed. A signal to the markets that the U.S. dollar’s perch wasn’t so secure.

Blundell explains how it all worked. Click on the link, scroll down a bit and you’ll find out how this setup all worked, and why.

That’s the message Carney delivered in his call with Trump last week. No leaks on the exact words, but the outcome speaks volumes. Trump didn’t just pause the tariffs; he backpedaled hard. China’s still in the crosshairs—125% duties are no joke—but Canada? The EU? Japan? They’re off the hit list. For now, at least. Why? Because Carney’s play wasn’t noise. It was power.

Let’s be real: Trump’s spent years calling Canada a freeloader—remember his 2019 NATO jabs?—while ignoring the inconvenient truth. Canada’s $350 billion in U.S. debt isn’t charity. It’s a lifeline. Japan’s trillion-plus? Same deal. The EU’s pile? Ditto. These countries aren’t just buying bonds to be nice; they’re bankrolling the U.S. government. And when they threaten to pull the plug, even slowly, Washington listens.

This was the determining factor in Trump’s surrender. Not the public spats, not the retaliatory tariffs Canada slapped on U.S. autos (though those stung). It was the quiet, coordinated threat of a Treasury bond unwind that bent Trump’s knee. Carney didn’t need to shout. He didn’t need to posture. He lined up the free world—Japan, the EU, Canada in lockstep—and showed Trump the cliff’s edge. Strategic brilliance doesn’t get louder than that.

Carney also issued Canadian Treasury bonds in USD which was another brilliant way to strengthen Canada’s position and financial reputation. Little triggers and strategies you get when the world’s most respected economist is your PM…

You get the drift. Apparently, the instigator of the T-Bill selloff that scared the shit out of trump was Carney. The experienced banker. The person who understands international finance.

Carney made sure to tell the world that despite Trump kissing our northern ring, we’re not negotiating shit until after the election. He also said we’re still moving away from our relationship with the US for greener, saner pastures.

Looks like we have THE man for the job.

We need to make sure we elect enough Liberals for him to continue in the job. PP wouldn’t have had a clue how to do this, or that it could be done. All he knows is how to name call. To act like trump.

It’s clear we need The Banker!

[If you want more information on Carney check out Dear Canada: We’re at the Peak of the Election “Smear Campaign” ]