Equity withdrawn from homes was around 2% of GDP in 2019.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!
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.
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.
🇨🇦’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.