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Stephen Punwasi 🌋 🚀 Profile picture
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Feb 7 • 4 tweets • 3 min read
TL;DR Canada’s money laundering problem.

#ToRe #VanRe
There are 4 stages to a Canadian money laundering case.

1: Allegations. Say they launder $200 million per year.

2: Seizure. Take their Starbucks gift cards.

3: Abort. Guess we screwed up, sorry about the inconvenience.

4: Loose ends. Alleged money launderer dies.
3/ The government is right. We need to follow the money!

Oh, crap. It led to the police. This is awkward. 😬

globalnews.ca/news/7568801/r…
4/ for the new followers…

A thread on why 🇨🇦 doesn’t have a problem with money laundering while 🇺🇸 does.

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More from @StephenPunwasi

Stephen Punwasi 🌋 🚀 Profile picture
Feb 5
Just got out of the funniest meeting with Stat Can's leadership about inflation.

Who wants the deets and what I learned? I promise you'll laugh, but only to hide the pain. 😂

Quick thread. 🧵👇
2/ First off, they don't understand how CPI influences the Bank of Canada.

They said the BoC uses various measures when making rate decisions.

The BoC says rates are low because CPI is low.

This is the BoC's website if you're confused about what they do.
3/ The BoC uses CPI as a report card on how it's doing, and the person doing the grading thinks it's just for fun.

More bluntly put, bad research producing high inflation that says inflation is lower than everyone feels... they don't think it has consequences. LOL!
Read 11 tweets
Stephen Punwasi 🌋 🚀 Profile picture
Feb 3
FYI you know how the government keeps saying low rates help poor people, but you're seeing rising inequality?

Well, that's because they're lying. The Dutch central bank found the rich captured 6% more wealth due to low rates.

<thread> 🧵👇

betterdwelling.com/low-interest-r…
2/ What about cheap housing? Central banks keep saying people can't afford higher rates.

Well, lol. The Bank of Canada's own research shows low rates drive home prices higher. Somehow giving people more credit doesn't lower home prices.

Weird, right?

betterdwelling.com/canadians-are-…
3/ What about QE? Surely that policy, to facilitate greater government spending, will improve the lives of those on the bottom half, right?

*checks notes*

Bank of Canada found it may have increased inequality. Sorry about that, eh.

betterdwelling.com/whoopsie-bank-…
Read 8 tweets
Stephen Punwasi 🌋 🚀 Profile picture
Feb 2
The Conservative Party of Canada, circa 2022. Image
Don’t Worry Folks, circa 2022. Image
The Ides of Roll Up The Rim At Timmies, circa 2022. Image
Read 4 tweets
Stephen Punwasi 🌋 🚀 Profile picture
Jan 24
I really hate that everyone is trying to politicize food shortages/transportation squeezes.

Canada imports 218 million kgs of dairy from the US. Do you really think 218 million kgs of anything getting throttled doesn't leave a mark?

1/2
2/ More important is not understanding a squeeze leads to a reprioritization of transportation resources.

If there's a 5-10% reduction in shipping capacity, do you think all segments decline?

No, there is competition for existing resources. Low-priced goods are dropped first.
Let's say you have a domestic transport company. The cross-border drop of only 5-10% means they'll pay you to do higher-priced cross-border shipments.

What do you think happens? Either a domestic shipper needs to pay the same, or domestic capacity disappears.
Read 4 tweets
Stephen Punwasi 🌋 🚀 Profile picture
Jan 21
In the 1970s, Howard Hughes built a ship to mine the bottom of the Pacific ocean.

It was an outrageous, and unlikely cost ineffective pursuit.

Mining an inhospitable place humans have barely explored?

I guess. Billionaires make big bets, right?

Ha, nope…

<Thread> 🧵👇
2/ We later found out it wasn’t his idea, but a covert CIA operation called Project Azorian.

See, the US noticed the Soviets were searching for something in the Pacific Ocean.

They later figured out it was a high tech submarine, and found it first.
3/ They couldn’t just *send* the military to the spot though. That would alert the Soviets and possibly sacrifice the recovery.

Instead, they got Howard Hughes, one of the richest people at the time to do it.

Hughes had built several classified military projects before.
Read 6 tweets
Stephen Punwasi 🌋 🚀 Profile picture
Jan 17
If Canadian home prices fall 30% they would be back at the 2019 crisis levels the Liberals promised to solve.

Dropping another 30% on top of that puts it at the 2015-crisis levels the Liberals said they would solve.

Another 30% lower is where the BoC called it a bubble.
Bonus fact:

If Canadian home prices drop 30%, then another 30%, then another 30%, then 10% ...

... home prices would be where the Bank of Canada said Asian investors have made Vancouver unaffordable.

I shit you not, this is how effective politicians are.
Yes, the Bank of Canada actually expressed this concern in 2011.

Apparently no one remembers that the central bank used to present concerns. Now that they've been politicized, they're the ones dismissing it.

Read 4 tweets

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