Liberal friends at Telesat are happy

I’m going to blow your mind. The Liberal government handed over a whopping $2 billion to a tiny company called Telesat for satellite production. But hang on, it gets juicier. Do you remember when the Liberals announced their golden boy, Mark Carney, as their economic saviour? Yes, the former Bank of Canada governor himself. Now, brace yourself.

As the head honcho of a task force to lead economic growth in Canada, Carney is best buddies with the president and CEO of that same small company that pocketed the $2 billion. Seriously, don’t just take my word for it. Carney and Goldberg, the CEO of Telesat, go way back.

Goldberg was chilling in the British capital because Carney was the chief at the Bank of England. It’s on record that Goldberg visited his “good friend” Mark Carney during his tenure there. Coincidence? I think not.

Now here’s the kicker—the current market cap of Telesat is a mere $600 million, and their stock has plummeted nearly 70% over the last five years. But, surprise, surprise, go look how the stock has shot up since they got the government handout. Oh, and their latest quarterly financials? Revenue is down 15%, net income has tanked nearly 75%.

They have a laughable 198 satellites compared to Starlink’s over 6,000. And the most outrageous part? There are 16 million Canadian households and about 1 million lack high-speed internet. A Starlink kit costs roughly $450, dropping to $350 with bulk orders. So $385 million could equip every household that needs it in Canada.

Instead of shelling out nearly $2 billion to fix this issue, the Liberals handed it to a wealthy friend. Elon Musk himself said it would cost less than half that amount to cover every household. Suspicious much? Maybe the RCMP should dig into this. This funding coincided a little too conveniently with the Carney announcement.

Makes you wonder how many politicians are now fiddling with that stock, doesn’t it? The timing is far too perfect to be a mere coincidence, almost as if it was orchestrated behind closed doors. While taxpayers are left footing the bill, you can’t help but question the ethical implications and transparency of such decisions.

The cozy relationship between government officials and influential billionaires raises alarm bells, suggesting a need for stricter regulations and oversight to prevent such potentially self-serving arrangements. Moreover, the impact on public trust is significant, as citizens become increasingly skeptical of whether their best interests are truly being represented.

Conclusion…

So there you have it, folks. An eyebrow-raising $2 billion was handed over to a company with crumbling financials and mere friendships holding it all together. It’s a narrative that would make for a gripping thriller if it weren’t, unfortunately, our reality. While Mark Carney plays puppet master, ordinary Canadians are left wondering if there’s anyone in the corridors of power who truly has their best interests at heart.

What do you think? Is this just a messy coincidence, or is there something more sinister at play? Let your voice be heard!

Share your thoughts in the comments below and tell us how you feel about your $2 billion tax dollars funding a friend’s venture over at Telesat. Your opinions matter—let’s get the conversation started!

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