Kevin O’Leary Slams ‘Idiot King’ Trudeau As Canada Left Vulnerable to Trump’s Tariffs (Uncut) 01-31-2025

Kevin O’Leary Slams ‘Idiot King’ Trudeau As Canada Left Vulnerable to Trump’s Tariffs

You will not want to miss this. We have just released the must-have report of the year, Outlook 2025, why the worst is yet to come, and how to prepare. This took months in the making.

It’s compiled from exclusive interviews. This report isn’t speculation. It’s built from a series of in-depth conversations.

It’s unfiltered insights from the experts, everyone ranging from Dr. Ron Paul, Gerald Celente, Danielle DiMartino Booth, and so many more. You can get it at dannyoutlook2025.com. Again, that’s dannyoutlook2025.com. The Feb 1st deadline is quickly approaching with Canada facing punishing tariffs from the U.S. The first threat could come as early as this Saturday, and the second now, possibly in April. This was the double punch delivered by U.S. Commerce Secretary nominee Howard Lutnick.

He said, unless Canada cleans up their acts and strengthens the borders, this is the fate they will face. Joining me today to talk about this and more, Kevin O’Leary. Kevin, welcome back to the show.

Great to be here. Thank you. So, what is in store for Canada? What is your reading of this? The deadline, tick-tock, it’s around the corner.

Yes. It’s not just border security. There’s two issues the U.S. has and has had for quite a while.

The fentanyl issue is more recent. However, compliance with NATO, the full 2% tithe, the payments, and more focus on securing the northern border are really the issues the U.S. have. They’ve had those for multiple administrations, and Canada has been soft on that.

Obviously, Trudeau, for the last nine years, has not complied. And Trump is taking advantage of the chaos, I think, in Canada right now with the lack of leadership at the federal level, leaving it to the premiers to try and come up with some kind of a plan, which they’re doing. I mean, they’re doing the best they can given the situation.

But until there’s some concrete evidence that we’re stopping Chinese fentanyl from crossing the border, which is the number one complaint, you may want to call that au courant, the most egregious in terms of Trump’s view of Canada. However, on the other hand, as they like to say, let’s remember this. 17 states in the U.S., their number one trading partner, Canada.

That entire deficit that Trump made reference to, 200 billion, all of that actually is energy. It’s specifically coming from Alberta, ships about 4 million barrels a day, and it’s about 60 percent of the imported energy in the U.S., a strategic energy reserve, if you want to call it that, to the American economy. And Ludwig knows this.

The governors of those 17 states have already been in his ear and Trump’s ear. So, you know, you really can’t use tariffs in this particular situation, the way they were used in Colombia over the last weekend, because you’re just damaging the entire U.S. economy in a pretty material way. So my guess is some last minute negotiation is going to occur to offset this because the Canadian-U.S. relationship is unique.

There’s nothing like it. The real issue is the northern border. So probably what happens, the real negotiations are going to wait until the federal election in Canada, which could be as much as 80 days away.

It really depends when the idiot king needs to leave. He hasn’t decided when he wants to do it yet, but hopefully that’s soon. And to that point, there was a podcast on Canada’s CBC, you know, referencing what you’re saying, that nearly one out of every four barrels of oil refined in the U.S. comes from the Canada.

And despite the big talk, it would be really hard for them to live without it. Canadian economist Kent Fellow saying we should follow OPEC’s playbook and just turn the taps off whenever we want. Is that, do you think, a reasonable, impossible solution? No, it’s a dumb idea because it does two things.

It actually hurts the U.S. economy, which is not in our best interest, but worse, it devastates fund flows into Alberta. So if you’re an Alberta’s resident, a taxpayer in Alberta, you’ve never heard a more stupid idea than that. So that’s other premiers telling Daniel Smith what to do, and she’s not going to have any of it.

I mean, there’s just no way that’s going to happen. That’s a major reason that we can fund all the waste in Quebec. Think about it.

We spend billions of dollars out of Alberta’s money to give it to dairy farmers who make butter, eggs and cheese and throw it in the garbage. That’s the kind of situation we have in Canada right now. And our health care costs much of it, and all of these transfer payments, who do you think makes all the money? We might as well tell the truth to each other in Canada.

It all comes from Alberta. Everybody else is sucking the tit of the cash coming out of Alberta. That’s basically it.

And some Saskatchewan too, but make no mistake about it. Mother’s milk is Alberta and everybody else is at the teeth. So on that note, I mean, you saw the pushback, the hate that Premier Danielle Smith was receiving, people in Canada labeling her a traitor, Kevin.

I know you’re very close with her. You’re down at Mar-a-Lago with her. I mean, what did you make of this pushback and the talk that they’re giving her? She’s a fearless leader and she’s a visionary and smart enough to know that it’s better to have your adversary on speed dial than to have no relationship with them at all.

She is the one that was bold enough to come with me to Mar-a-Lago, meet with Trump and many of the other candidates inside at that point, they weren’t confirmed yet, but coming into his administration, and it was an informal meeting. You know, I always, Danielle Smith has been controversial because she’s a conservative and she’s had enough of the Liberal government and she sued them successfully in October of 2023 to get back her sovereign rights, particularly around energy, and she was successful. And so there’s no love lost with Trudeau and the Liberals and Danielle Smith.

And Canadians that are concerned about her leadership skills should get over it. She’s the one that I find the most dynamic and potentially one of the better leaders in Canada. And so she’s doing the right thing.

There’s no question about it. With that comes controversy. So what? Kevin, you mentioned 80 days possibly of no real leadership in Canada.

I mean, the Liberal party leader races on as we speak, but by the time an election happens, I mean, it could likely be six months that Canada is in limbo here. And that’s what my concern is, Kevin, is six months of being extremely just so vulnerable to the US. You know, this is where it really boils down to ask yourself, what is in the mind of the idiot king? Why is he doing this to his own people? Why? He has no chance of surviving this election in any leadership role.

He knows that the party has basically kicked him out. What is he doing? Who is he serving? This is why he is the idiot king. His legacy will be that of the idiot king.

He has no idea what he’s doing. And we now learned he had no idea for basically nine years. All of that policy came out of Gerald Butts, who is now helping a new Liberal leader, which I think is an unholy union.

I mean, if Carney were to become anywhere near the government with Gerald Butts’ policy, the Canadian dollar would not just stop with a 41% decline. He hasn’t finished the work he wants to do. Gerald Butts is the antichrist of Canada.

He’ll wipe out the economy as he started doing with his very negative policy on resources, which stopped fund flows into Canada. Look, it’s controversial. I get it.

But the best thing for Canadians right now is for the idiot king to step aside, call an election and move forward. That’s the only path that’s going to help us. No other path is going to work.

The idiot king is behind. Kevin, it’s interesting, you brought up Gerald Butts in our last segment. Basically, as you explained it, the mastermind behind Trudeau’s campaign, what ushered him into power, almost like the Steve Bannon of Canada.

And a quick Google search shows that he is currently the vice chairman at Eurasia Group, and Carney’s wife, a senior advisor at Eurasia Group. We now know from multiple sources, he is behind and working on Carney here. Are you concerned that Carney has a real shot here? You have made it clear he would just be Trudeau 2.0. And for the folks in the US, Mark Carney, former head of the Bank of Canada, would be the equivalent of Jerome Powell basically running.

So your thoughts on that, Kevin? Yeah, I think Carney would be a bad choice for the Liberals because he still believes in the carbon tax, which most Canadians have figured out has devastated the economy. And that’s being promised to be lifted by the conservative leadership. I hope that Carney doesn’t win that mandate.

I would prefer Freeland to take the leadership of the Liberal Party because she deserves to spend the next eight years in purgatory. They may get so decimated in the next election that she may not have a voice in Parliament. As you know, if you don’t win enough seats, you can’t even speak, you become a little mouse.

And so what I would like to see is little mouse Freeland because she destroyed Canada. Her policies and her role as a journalist in finance, I never understood that. But that just shows you the idiot King didn’t know what he was doing.

His job is to find people that are qualified. She wasn’t. She’d never run a bank or financial institutions.

And she just killed the Canadian economy. So she deserves more punishment than Carney who’s coming in. Now, Carney thinks Canadians know him.

They don’t know him. I mean, he hasn’t been in Canada for decades. And so he’s got a really hard time ahead of him to build some kind of relationship with Canadians who, you know, got to pick a passport with that guy.

He’s got more than I do. So at the end of the day, they’re going to really bring that up against him. But he doesn’t know Canadians.

He probably hasn’t been in a Canadian grocery store in 20 years. And believe me, Pierre is going to point that out to everybody. And I’m going to do my best job, too.

I mean, I’m very fortunate to have 10 million followers. I’m not worried about Carney. It’s Gerald Butts, the Antichrist I’m worried about.

That guy is a very bad guy for Canadians and must be kept away. I don’t know what he’s doing these days, but he shouldn’t be let anywhere near Ottawa or policy. Kevin, I want to get your latest on President Donald Trump coming out swinging against Jerome Powell after the Fed chair basically said, no, the central bank is going to hold rates steady.

We all know Trump said he demanded that rates be lowered here. This is a quote from Trump. He said, if the Fed had spent less time on DEI, gender ideology, green energy and fake climate change, inflation would never have been a problem.

Instead, we suffer from the worst inflation in the history of our country. Thoughts on this battle now, Fed versus Trump? Yeah, well, you know, with Trump, after 12 years, you have to understand there’s a fair amount of controversy, bluster, controversial statements. We knew during the campaign that he was going to try and control the Fed.

That’s impossible under the American Constitution. It’s not going to happen. Powell has been an even keel.

Inflation wasn’t caused by Powell. It was caused by the previous administration bringing four bills of trillions of dollars, 50% on the dollar is probably wasted. You know, Inflation Activation Act and then the Infrastructure Act and all of this stuff was unnecessary.

I agree at the beginning of the pandemic, maybe, but the stuff that happened afterwards, too much cash coming out of a helicopter causes inflation. It’s going to take a couple of years to bring it back down. But I don’t think this bluster is going to make a difference the way the Fed thinks.

And they just held rates steady as they should, because inflation is significantly higher than 2% right now. And, you know, Canada suffers from a different problem. It’s got economic decline by every single metric you can measure, whether it be GDP growth, debt per capita, foreign investment per capita, which is stalled out.

Even Canadian pension plans don’t invest in Canada. That’s all Gerald Butts, the antichrist. Going back to the Fed, one last point, Kevin.

In their defense, I mean, Powell doesn’t know what policies are coming up. So is it not difficult to kind of find a direction when you don’t know what’s going to happen with tariffs, et cetera? Yeah, I agree. And I think the prudent move is to do nothing, which is what he did.

He basically said that in his remarks. He doesn’t know the impact of tariffs. I mean, if they were really going to tariff Canada 25%, that would devastate 17 states.

It would be unbelievable. And so my guess is between Ludnick, probably the new Canadian ambassador from the US who’s just taking residency this week, I think, and direct communication with Trump, some arrangement will be made because there’s too much to lose on both sides. And even if the tariffs are put in place for a few weeks, it’s not going to have an economic impact while these arrangements.

But unfortunately, what I would, and I speak to this publicly and especially on social media, I would prefer if Trump and the administration gave Canada a chance to get its act together to remove the idiot king and put leadership that has a four-year mandate in place, same way that Trump has. He has a majority mandate. I anticipate that Pierre Polivieu will get the majority mandate, and it will be a leader that will be in place for at least four years, and then let the negotiations begin for NAFTA III, which would be a very good outcome because the potential of an economic union of some kind, which I’ve spoke to… And by the way, when that first came out a few weeks ago, the polling was 13% interest in Canada when most Canadians thought they had to sell their sovereignty to get an economic union.

Now, the more recent polling is 43% interested in learning more. And I don’t have to hire pollsters. I could just poll my 10 million followers and say, what do you think? And so there’s a lot of interest in a common currency.

Imagine if you were offered to trade your Trudeau pesos one-for-one for the US dollar. Of course, you’d take that deal. 11 out of 10 Canadians would take that deal.

And then an EU-type passport and then removal of tariffs. There’s a lot of interesting stuff that I think will be negotiated into what I would call super NAFTA III, which could tie the economies together and be a brute force in the world. The Chinese would never catch up to that kind of an economic union.

Yep. Valid point. Last talking point, Kevin, I want to get in.

The executive order Trump signed banning central bank digital currencies, but he also ordered a crypto working group to draft new regulations, explore national stockpile. Your take on this? I mean, they were all headed into central bank digital currency. Are they still working on one and it’s just a different disguise or name? Trump is focused on the private sector solving these situations with innovation, as it always has.

The technology development in the US is second to none, although China is racing behind by ripping off technology. You just saw that in deep sea. However, digital currencies exist already.

The one that’s probably the most compliant with the US is Circles, USDC. Now, I have to disclose I’m a shareholder of Circle and have been for years, and I use USDC as a digital payment system. But the amount of innovation put into that platform far exceeds what the government’s going to do.

If you want innovation, you don’t go to the government for that. So what you do is you put a mandate out and say, look, if you can guarantee a one for one digital currency, you don’t just give it all to Circle, you let it be a competition. If others can bring that forward and be compliant with the SEC and the CFTC, the regulator of commodities, then you would allow a competition to occur and we would end up with a digital currency that’s compliant and used globally, which I think is going to happen.

That’s my bet on investing in Circle. And also, I might want to add that this has really buoyed the Canadian market. Obviously, I’m an investor in WonderFi.

My investment thesis was Trump would come in and start to clarify regulation. Well, it’s also clarifying regulation in Canada. The reason I’m such a large shareholder of WonderFi is I anticipate in the not too distant future, it’s a speculation on my part, is that the Canadian banks are going to want to offer Bitcoin to their clients without leaving the balance sheet of the bank.

And the only way to do that is a closed circle technology where the exchange, in the case of the largest exchange, with 1.7 million accounts now, is WonderFi, consolidating the Canadian market and nearly 2 billion in assets, primarily Bitcoin. So you could actually have an account at any Canadian bank and hold Bitcoin and have it on your bank statement and have total liquidity and price transparency using the platform of WonderFi. And I speculate that’s why the stock has had such a big run in the last few weeks.

Kevin O’Leary, as always, pleasure being with you. Thank you for joining us. Take care.

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