Equity withdrawn from homes was around 2% of GDP in 2019.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

8 Apr
Quick lesson on the cost of poor vaccination priorities.

Vaccinating the wrong person in Ontario costs up to $5,000 per vaccine.

Sounds absurd, right? Let's run through some quick napkin math on why that might be an underestimate.

<thread> 🧵👇
2/ The economy is shut down because of a very specific demographic of people are impacted by widespread outbreaks — essential workers (less healthcare).

Teachers, grocery clerks, food processors, warehouse employees, and restaurant employees.

Shutting down is expensive.
3/ Ontario is spending $186 billion on COVID related programs, like floating small businesses over the next year.

That averages $0.5 billion per day. Then there's federal programs like CRB, EI+, etc.. Then add the lost revenue for businesses, and the cost of financing it...
Read 9 tweets
7 Apr
Communism: Here’s your identical 2 bedroom apartments, and if shit blows up, you’re going to have to line up for toilet paper.

Capitalism: Here’s your identical 1 bedroom apartments, and if things work well, you’re going to have to line up for toilet paper.
Yeesh. Snowflakes getting touchy about a Communist joke, and giving me low Marx in the humor department.
Also, my original tweet doesn't indicate a preference for either communism or capitalism.

It very clearly indicates the real problem is big toilet paper. The toilet paper plutocrats control the system, regardless.
Read 4 tweets
7 Apr
Ontario stay at home order starts Thursday.

“big box stores will be restricted to selling only essentials for in-store shopping”

Now that Walmart is impacted, Dougie will have the vaccine in everyone’s arm by next week, with strict health measures in place.

#onpoli
The pandemic, one year later.

New Zealand, China, Taiwan, Vietnam: Everything is back to normal! Let's party!

America: Y'all are gettin vaccines in 2 weeks. Booyah! U-S-A. U-S-A.

Canada: What did we do last year? Right... do that again. Back in your house. Close the blinds
Try and pry my essential Auntie Annie's soft pretzel from my cold, blue from a lack oxygen, dead hands, Dougie.
Read 4 tweets
6 Apr
Canada created so much moral hazard, people *cannot* see risk.

Over 1 in 5 mortgages are going to over-leveraged borrowers.

Calling it. OFSI does something before the Fed, because it's reached regulatory risk. This is way worse than the US bubble.

#VanRe #ToRe
Ahhhhh yeah, boyyy. First up to the plate with real estate cooling measures is OSFI.

The banking regulator will resume policy consultation on minimum qualifying uninsured mortgage rates beginning tomorrow.

#VanRe #ToRe
Read 4 tweets
21 Mar
I ❤️ Boomers.

Taxing the gains on a principal residence as an investment lacks "critical analysis."

As opposed to the idea of taxing the investment gains of anyone that doesn't own a home, including a generation unlikely to ever own.

That's just good business for old folks. Image
2/ Here. Keep tax exemptions on the profits of homes.

Just let our generation know where we can opt of paying for your CPP.
Boomers: Tax people that work! They don't contribute to society like we do. We had to buy a home for a nickel, and worked twelve jobs in a day. It took just as long to save a downpayment too!

It took your generation 25 years? You bought your starter home at 45?
Read 6 tweets
16 Mar
"The government is trying to microchip you with vaccines."

Bruh. Have you tried to use a government website? There's no way they can build that kind of tech.
Imagine if Canada tried to microchip people with vaccines.

*two weeks later*

Everyone receives an email saying their microchips have been locked, please call in to have it reenabled. Everyone's on hold for 8+ hours to reactivate.
Imagine if the 🇺🇸 tried.

“We wrote the system in COBOL, a language no longer used in computing, and can’t find anyone to finish it.”
Read 4 tweets

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