Why We Need The Banker as PM

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” ]

Tell trump To Stuff It

Just read this succinct piece by Charlie Angus: “The Power Of The Boycott“.

Here’s what he has to say:

The power of the grassroots Canadian boycott is being felt in a big way across the United States. Just ask the US tourism industry.

Since Trump began his goon squad reign, they have suffered a precipitous plunge in reservations and trip bookings from Canada. Donald Trump says there is nothing America needs from Canada.

Turns out Canadians are by far the biggest spenders of tourism dollars in the United States. We might be polite, but we hate bullies. In homes across this country, Canadians are resisting tyranny by simply changing their tourism plans and shopping lists.

And this is causing the US tourism industry to panic.

Here’s what’s at stake:

  • In Florida, Canadians represent 38% of the tourist dollars coming into the state.
  • In Texas, Canadians spent $403 million last year. Both states have seen significant cancellations, as have other states.
  • If just 10% of Canadians hold firm in the boycott, it would mean the loss of 140,000 jobs.

It is still too early to say just how many Canadians have decided to rip up their tourism plans, but the messages I am getting from across the country paint a picture of a grassroots boycott that has become deeply embedded in the sense of Canadian nationhood.

This past week, I’ve shopped with a careful eye on where products are manufactured or grown – anything from the US got put back on the shelf. I know my local fabric store is a bit uneasy because a good deal of the fabric on hand is produced in the US and customers have been asking about that. The machines are actually made in Asia, the parent company is Swedish, and I do think shipments are direct to Canada without having to go through the US. Yup, if we keep up our boycott the US will feel it.

Angus ends with:

Once the impacts of the bourbon boycott, the grocery store actions and the cancelled travel bookings begin to pile up, you are going to see a lot of American businesses calling out the predator-in-chief.

As for Canada? Keep the boycott going. We will last one day longer and be one day stronger than the creeper in Washington.

I agree. Pay close attention to what’s going on. Read the whole piece – it will encourage you to make the effort!

Up Here In Canada!

You get the message?

And trump has announced at the superbowl he plans on annexing Canada! This is getting serious now. We’ve got to build our resistance and lock in support! The federal government (and various provincial governments) will respond to the impending tariffs. Then it’ll be up to us to stand with them.

We’ve gotta build a strong “Team Canada” – whatever it costs us – and it will cost us!

Be Prepared!

The Destruction

This morning in my email there were links from friends, passing on items I hadn’t seen because I don’t do Facebook. Three of them are serious analyses of this past week in the US.

I also found today’s NYT Editorial “Now Is Not The Time To Tune Out

It’s becoming obvious that people in the US are finally waking up to what is really going on in their country and they’re starting to push back. Too bad they weren’t paying attention before the election! The warnings were there, loud and clear. People needed to see what the real consequences of putting trump in the presidency would be. And they’re not pretty.

It was all predictable. trump wasn’t hiding his plans. Project 2025 laid them out clearly in hundreds of pages of detail! The majority of people disregarded it all. But his agenda has been clear since 2015! And now he (and his oligarchs) are executing the plan!

I could see it coming – I wrote this the day after the election in November:
https://jmn111.wordpress.com/wp-admin/post.php?post=11973&action=edit&calypsoify=1
Lots of other people could see it coming, too. Now it’s happening.

People are also writing about how citizens can resist – Robert Reich offers a long list of actions individuals can take to push back against the destruction: Robert Reich – What You can Do

I wish I could be sharing my fibre art but I’m not producing much these days (I’m not even getting much knitting done, either). I managed to edge stitch the appliqué circles on that piece I was working on. I began thinking I was making a quilt – this is as far as I could go with the idea. The background is too dark – a reflection of what I’m feeling these days? I need to try another using lighter fabrics. Perhaps that will brighten my outlook!

It still isn’t finished – I’m planning on a very narrow binding using a black fabric with tiny circles. I’m also going to back it with a bit of stiffening so it retains it shape when it’s hung. Another day or so of work to finish it. After that – I have no idea. Likely a couple of garments that are waiting to be made.

My creativity seems to be on hold right now when I definitely need it most!

Bubbles

Bubbles!

This is where I am at the moment – 21 1/2″ x 18″. There are four insert circles, the smaller circles are fused raw edge appliqué. Although I’ve ended up with an even number, the distribution and colour feel comfortable.

I’ve been auditioning fabric for a thin inner border and a wide outer border – no luck. Everything I’ve tried – light fabrics, medium fabrics, dark fabrics – all look wrong. I think the piece is telling me to end here and finish with a facing, not a binding!

The next question is whether to quilt or not. I need to do decorative stitching around the appliqué (and possibly outside the inset circles, as well) – I have to wait until I’ve finished the stitching the appliqué to decide.

The point of this effort was to expand my technical know-how – to see how difficult it was to do an insert circle. Definitely not a beginner skill. After five circles, I’ve decided the sewing works best for me with the background on top, just four pins to hold the 3/6/9/12 positions, sewing slowly, one small section at a time, so I can align the opposing curves as closely as possible and still maintain a 1/4″ seam.

I’m not giving up on this idea – I still want to make a table runner and a quilt using it – it’s a matter of deciding whether to use pieced backgrounds, as I’ve done here, or a subtle print/batik throughout. I have to audition some fabric to see what might work.

Inset and Appliqué?

Bubbles?

Four inset circles with appliqué? This is all an experiment. First, the blue background doesn’t add anything – it shows I want to stay with greys, lights and blacks. That block also shows I don’t want pieced circles – I want to use the large prints from my Kaffe Fasset collection – I like the statement each circle makes.

Second, three of those inset circles are not too bad, one is kind of wonky – an appliqué over the wobble would hide the imperfection. Also the piece is stark without the smaller circles – I can’t see trying to inset them, much too difficult – the bigger the circle the easier to inset, I’m finding. I’ve also been moving the circle around in the square, rather than place it at the centre. Will continue doing that.

I also wanted to sew four blocks together and inset a circle at the intersection – there aren’t enough blocks here to try that. I may have to add another couple, making the piece longer, to see whether I can add an inset circle at the intersection. This has become an experiment going in directions I wasn’t expecting.

I have enough here for a fibre wall piece. I want to replace the blue and see what I have . I haven’t nailed down precisely what I want this to be – stopping at this point and finishing the small piece will let me start over.

I’ve been scouring Pinterest for “circle” and seen a lot of very interesting ideas for quilts made with both insert and appliqué circles. I need to review the images I’ve collected and rethink where I’m trying to go with this project.

Inset Circles

I decided to try inset circles – an extension of Drunkard’s Path (a square with a contrasting pie-shaped piece in one corner. With an inset circle you cut a background square then remove a circle; cut a contrasting circle 1/2″ larger in diameter, then carefully line up a few markings and inset by sewing a 1/4″ seam. When pressed you get a pretty good inset circle. (These two blocks are 9 1/2″.)

I’m playing around with this idea in a number of ways. In the first block (left) I created a background from two pieces of fabric, cut the circle from the centre of the block, then inset a strong contrasting circle. In the second block (right) I offset the piecing seam for the background as well as the centre of the circle (which in this case was the offcut from the first block!).

I’m playing around with scraps – just to see what happens. I had a better idea of how to manage the fabric when sewing the second block. I need more practice. I want to cut my circle insets from pieced fabric assembled using curved seams. In block #2 the circle was pieced across the diagonal simply because that was how I’d assembled the first block background.

My next experiment will be to piece the background slightly offset, but the make a more intricately pieced fabric for the circle. We’ll see how that goes.

I’m not sure whether I’m working on a quilt or a fibre art piece – I will have a better idea once I’ve made several inset circle blocks!

Sold!

On Sunday I took down the Craig Gallery Exhibit (can’t believe the three weeks went by that fast). I was collecting the tags on each item when I discovered a red dot on one of the quilts – SOLD! That was a surprise. From the start I wasn’t sure about pricing the quilts (and other pieces). Looks like I wasn’t out of the ball park after all.

Not only did I sell a quilt, I sold one of the wall art pieces, as well as two 6×6 floral pieces (one has been sold twice – a friend of my sister Donna wanted the same piece that another person had already bought; I wasn’t able to say “No” to her so I’m creating another; that’s actually three of the 6×6 pieces sold).

All in all, a good outcome for a show of this size, in a location like this. A lot of visitors dropped in, they all spent more time looking at the quilts and other fibre art pieces than usual, and all left with smiles. When I was in the gallery visiting with friends who’d come to see the exhibit, all sorts of people either eavesdropped on what I was explaining, or came over more overtly to join the conversation. Everybody I spoke to was very engaged and interested in how my art was constructed.

I learned from the Exhibit that I’m creating art!

Pieces sold:

Craig Gallery 2024

I’m exhausted!

Thanks goodness I had the foresight to ask a friend to come with me and we had the help of one of the young gals at the gallery pitching in. The Craig Gallery is a largish space – I took 13 quilts, 9 fibre art pieces, 5 floral pieces, and 22 of the 6×6 pieces. (I brought 2 quilts home with me).

Hanging an exhibit is always time consuming – walking into an empty gallery it’s hard to know where to start. I had visited during the summer so I knew more or less how many quilts I could hang on each wall, but still, deciding which quilt to hang where takes time. We arrived at 10:00am; finished at 2:50pm (with a half hour for some lunch and a large glass of water).

I still have work to do – there’s a spot for one more small piece (which will need a label) – I will take that with me Thursday before the opening begins and hang it then. There’s also a video screen outside the gallery which presents a slide show of what’s inside – I need to create a slide show of the quilts and other works and email that to the gallery.

Nevertheless, the exhibit is hung. While we were finishing up, people started coming in – the front door was open, even though the gallery was formally closed. We welcomed everybody who wanted to see the show.

I had fun explaining what they were looking at – if you’re not a quilter you have no idea what work actually goes into this kind of art. The question I’m always asked: “How long does it take to make one of these pieces?” I can calculate the “cutting, piecing, assembling, quilting, finishing” time – I can make a quilt in about three weeks. But how do I calculate the “thinking about it before you begin time, the collecting fabrics time, shopping for that last bit of colour fabric time, selecting thread colours time, creating the quilting design time, sleeping on it time, looking at it on the design wall time”? Incalculable.

This is how the show looks (click on the images to see enlargements):

The photos don’t do the experience justice – if you’re anywhere nearby, drop in. The quilts and fibre art really need to be seen in person.

The show is up until Nov 24 2024 at:

The Craig Gallery
Alderney Landing
2 Octerloney Street
Dartmouth NS

Nightfall

I finally finished this quilt this past week. It turned out to be a lot more work than I anticipated. I thought I was making a simple quilt block – square-in-square but that didn’t work out because of the colour flow I was after. In the end I had to construct each triangle element from scratch! Which took a lot longer.

The back took a lot of “walking around” time – I just couldn’t settle on an idea. One Tuesday evening when my friend Neha was here sewing with me (that’s another story) I made up five square in square blocks from leftover bits – that broke the log-jam and I was able to sort out a 15″ strip to insert in the backing fabric.

Then there was the matter of layout – I sewed most of the dark blocks together to begin with but then had to disassemble the partial panel because the colour flow wasn’t working. To get a decent colour flow, I ended up pinning triangles, and trapezoid pieces on top of the developing panel on a design wall I improvised in order to get a clearer colour placement. Then I had to take blocks apart to insert the new required piece.

I put the layers together. I created two possible block patterns using my out-of-date Pfaff Premier 2+ software (it still runs on my Mac but not for much longer I’m expecting – then I don’t know what I’ll do, because the cost of a subscription for the software on MySewnet is crazy expensive!):

I chose Block 1 after doing a test run with some muslin and batting. I wanted the simplicity of the curves in the first design; I will use the Block 2 design on another quilt sometime.

Because the blocks were placed in the quilt on-point, I had to quilt on the diagonal. When all 44 blocks were filled in, I still had 18 triangle half blocks along the sides with 2 quarter blocks at one end to complete the quilt.

I also changed thread colour to match the colour gradation – I stitched the dark corner with an almost black variegated thread, the top left corner I quilted using white; in between I used three different grey variegated threads to blend with the changing colour. I used a light variegated grey on the back throughout.

I used the off-cuts from the backing for binding – which allowed me to match up the design on the back. I finally added a label.

I finished yesterday by hand basting a hanging sleeve at the top so I can display the quilt. (I still have 8 quilts that need hanging sleeves – gotta get those done over the weekend.)

I’m just about ready for the Craig Gallery Show:

If you’re in the vicinity do drop in!