There is a general idea of how power is supposed to work at the top in a functioning democracy.

Someone runs, campaigns, earns support from voters, and, if enough people back them, they seize the power. 

At least, that’s how it’s supposed to look. 

Now… what we’re watching play out right now in my birthplace of Canada under Mark Carney is something a little different.

Mark Carney’s liberals now have a majority in the Canadian Parliament.

…and it didn’t come about through a sweeping national election or a decisive shift in voter sentiment that handed over clear control in one moment.

It was built after the election, seat by seat. 

…and just like that, a minority government has become a majority.

All without any one singular or dramatic moment that most people can point to (besides one conversation party member “walking” to the other side during a meeting at the House of Commons, which was not headline worthy, regardless).

As of this morning, even the CBC is running stories asking, “Did Carney manipulate his way into a majority government”?

Sadly, "scary" headlines out of my native land are more common than ever nowadays...

… but I really hope this wakes up anyone reading this who is still physically or economically positioned in Canada.

A majority government does not need to negotiate in the same way, does not need to rely on other parties to push things through, nor does it need to “compromise” nearly as much as it did before.

No need to negotiate with opposition parties, which means no meaningful friction standing in the way of new policies.

More aggressive climate policy frameworks, inbound.

Expanded taxation structures and increased fiscal reach, inbound.

Greater levels of regulation across financial systems and reporting requirements, inbound.

More centralized decision-making when it comes to how capital is directed and how the economy is managed, inbound.

My fellow Canadians, where does this leave you?

If everything you’ve built is tied entirely to a single system, then you are fully exposed to whatever direction that system decides to move in.

…and as we’re seeing, that direction can shift fast, and without you having a say in it. 

That’s the part people consistently underestimate: it’s not just what is happening at this very moment - it’s how quickly things can change once the structure is in place to allow it.

This is why we talk so much about building a Plan-B.

It’s not about reacting to any one single event, but rather, as a deliberate structure that gives you the ability to operate independently of any one system, any one jurisdiction, or any one set of rules.

When you have legal residency in another country, when you have banking relationships outside your home jurisdiction, and when you have assets positioned across multiple systems, you are no longer fully exposed to a single outcome.

You have flexibility.

…and more importantly…

You have control.

Without that, you’re just along for the ride.

If that is your approach, buckle up.

You aren’t going to enjoy the ride.

If you aren’t willing to stay on the crazy train and “take whatever comes your way smiling”, read this important letter here.

After you’ve done that, we can continue the conversation.

Speak soon,

Mikkel

PS. If you haven’t registered for Thursday’s presentation, do so now if you’re planning to join, especially if you are “new to all this.” This special session (which is completely free to attend) is especially important for anyone who is interested in learning the ins and outs of Plan-Bs and wants to understand the “hows” and “whys” of the important work we do for families and investors just like you. Register here, and I’ll see you this Thursday, 1pm Panama time.

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