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Stephen Punwasi 🏚️📉🐈☃️ Profile picture
@StephenPunwasi
Apr 11, 2021 • 9 tweets • 3 min read • Read on X
Equity withdrawn from homes was around 2% of GDP in 2019.

Money laundering is estimated to be around 2-4% of GDP in Canada.

Either the Liberals used a housing crisis to pad GDP, or they didn't know, and aren't smart enough to be in office.

When does Adam Vaughan resign?
2./ Transparency International found. over the past decade, ~$35 billion in Greater Toronto property was bought with no idea who the corporate owners are due to a lack of public ownership data.

$25 billion was bought using cash from unregulated lenders without AML regulation.
3. Still, no action? Weird. International gangs made a casino too dangerous for a money laundering investigations? Weird.

I wonder how the federal government would respond to such allegations of corruption. Clearly they would do something!

globalnews.ca/news/7593419/b…
4. What's that? Oh, the Liberals actually ended up shutting down the RCMP financial unit in Ontario when told about the increasing amount of financial crimes in the country? How strange.

thestar.com/news/investiga…
5. The standing committee of finance heard from experts that luxury cars were being used to launder cash. Nothing.

A 2019 report showed a US$410 million money laundering scheme using luxury cars.

Still no Federal rules? Weird.

scmp.com/news/china/mon…
6. The BC government told the Fed about a money laundering scheme used by cartels, where they would enroll "students" who would pay their tuition with bags of cash, withdraw, and presto — clean money.

Did the Feds crack down on this? Nope. Only BC.

vancouversun.com/news/local-new…
7. This is always a fun one. The vast majority of cash from China is probably clean, but illicit capital moves where there's little scrutiny.

If China's capital controls are $50k, how do people make a down payment on a house? The answer is in this Big Five bank sign.
8. At this point, it's not negligence. The Fed has been warned many times over by every financial organization on the planet.

They ignored it because it prints really good economic indicators. What's the problem if money launders buy the homes, cars, and boost GDP? Well...
9. A money launderer's goal is to move as much cash, as fast as possible.

When they buy a house, they don't buy a house. They buy a low scrutiny capital token.

What happens when you buy the house next door? You use their token as a comp. More 👇

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More from @StephenPunwasi

Stephen Punwasi 🏚️📉🐈☃️ Profile picture
Apr 23
🇨🇦’s wild these days.
- Money laundering capital of the world
- the global fentanyl “command & control center”
- home to transnational organized crime heads
- at least 1 in 7,800 residents are members of organized crimes.

How did this happen so fast?

<thread> 🧵👇
2/ first of all, most folks in 🇨🇦 don’t realize how bad things are yet, they’re just dealing with the consequences.

Soaring housing costs. Rising car thefts. Unaffordable housing, Overdoses in your hood. Violence in your streets.

All related.
3/ 🇨🇦’s home prices soared in the mid-2010s due to laundering.

Fentanyl proceeds were washed in casinos, then layered w/housing. It’s now called the Vancouver model.

Home prices surged since comps were skewed, & launderers WANT to pay more.

Dive into this later.
Read 11 tweets
Stephen Punwasi 🏚️📉🐈☃️ Profile picture
Apr 22
Funny story. About a year ago I was crunching 🇨🇦’s immigration data & found a really neat issue.

… over 1 in 6 of 🇨🇦’s claimed immigrants don’t actually exist in the country.

<thread> 🧵👇
2/ I was looking at immigrant cohorts from the 1980s & forward, & noticed an interesting pattern: 1 in 7 would disappear from taxfiler data.

They drop out faster in recent data, but still consistent. In finance a predictable pattern usually means 1 of 2 things: fraud or error.
3/ so I contact Stat Can & inquire to make sure I understood the data correctly. I did.

About a month later, Stat Can conducts a study & concludes *drumroll* 1 in 6 immigrants probably left the country… since 1980.

🇨🇦 isn’t sure because it doesn’t track departures.
Read 11 tweets
Stephen Punwasi 🏚️📉🐈☃️ Profile picture
Apr 13
🇨🇦 just busted 3 fentanyl labs in 2 days.

All well equipped, industrial scale facilities within a short-drive of each other in BC. All to produce the fentanyl 🇨🇦 totally doesn’t have.

Tragically I’m not your fentanyl czar, but here’s what I’d notice if I were. 😉

<thread>🧵👇 Image
Image
2/ this is a fun photo. Nothing brown is used to synth fentanyl. Precursors are clear or white.

But aniline, an essential manufacturing chem, is light brown & darkens as it oxidizes.

Only problem is aniline isn’t used in fentanyl production. wtf, eh? Image
3/ However, aniline is used to make fentanyl precursors. RCMP said 2 of 3 labs in the fentanyl bust were manufacturing fentanyl.

What was the 3rd? I’m not a fishing license expert like 🇨🇦’s newly appointed fentanyl czar, but it sure looks like a precursor lab.
Read 13 tweets
Stephen Punwasi 🏚️📉🐈☃️ Profile picture
Feb 24
Is 🇨🇦’s healthcare system failing due to socialism or capitalism?

Neither. The math is pretty clear—this is just straight up greed, facilitated by crummy people.

<thread> 🧵👇
2/ first off, everyone forgets it's hard to be a doctor.

Most people can't finish a book.

A doctor in 🇨🇦 is the result of a 13 year old who decides they'll top their class & do 12-years of post-secondary training to start their career.

Let this point REALLY sink in.
3/ I mean, really sink in. You're delusional if you think you could do it. I couldn't.

The folks in charge didn't need that training. Ontario elected a high school drop out (about to be re-elected). 🇨🇦 elected a high school teacher.

My point isn't to make fun of politicians...
Read 19 tweets
Stephen Punwasi 🏚️📉🐈☃️ Profile picture
Feb 12
Folks in 🇨🇦 keep explaining to me that we don’t have 🇺🇸-like crime.

It’s true. Here’s a brief list of the 🇺🇸 crime that never happens in 🇨🇦.

<thread> 🧵👇
2. in 🇺🇸, their anti-money laundering & enforcement budgets are soaring to deal with crime.

In 🇨🇦, we’re so confident that there’s no laundering that politicians confidently slash the budgets. Image
3. In 🇺🇸, defunding the police is extremely controversial.

In 🇨🇦, we don’t hesitate. Ontario immediately cut its financial crimes unit. Image
Read 9 tweets
Stephen Punwasi 🏚️📉🐈☃️ Profile picture
Feb 7
People think 🇨🇦 is lax on money laundering because it’s good for the economy. Nope.

It’s so much worse. The lax enforcement turned into organized crime capturing 🇨🇦. The legal system is now too scared to act. Seriously.

<thread> 🧵👇
2/ First off, let’s talk about how extensive 🇨🇦’s organized crime (OG) problem is. The country’s OG intel agency estimates 2,600 groups operate in the country.

Since a gang is 3 people or more, at minimum they’re estimating 1 in 4000 adults are OC members. Image
3/ that means the ratio of OC to normal people is higher than the concentration of high school school teachers to people in Toronto.

Think about that for a second—how often do you see high schools across Toronto? Well, you’re more likely to see OC members than a teacher in one.
Read 21 tweets

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