401–404 of 404 posts
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I'll flip your question on its head: why are the people filling these roles so heavily skewed to one country?
It's a combination of factors 1. India is poor but not too poor 2. It has a huge population 3. A lot of upper class Indians already have family in the US Of course, it is not clear why any of this should matter. Why should it be capped by country (as opposed to continent, zipcode or planet?)
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They are never going to do that. Making money laundering illegal will send shockwaves across its economy. Canada is being criticized by both its citizens and foreign governments but the illegal moneyflows are actually proping the housing markets of Vancouver and Toronto up. It is a very complicated situation as taking any action against money laundering will also might greenlight foreign governments to sue Canada for…
It was a joke. Money laundering is already illegal in most jurisdictions, including Canada [1]. Generally disguising the source of funds is financial fraud on its own, even without dedicated money laundering laws. The canard that the housing market in Canada has been propped up by illegal money has been debunked so many times it's not funny. Everyone continues to prefer to think that over the real truth, which is tha…
Earlier quoted context omitted.
It was a joke. Money laundering is already illegal in most jurisdictions, including Canada [1]. Generally disguising the source of funds is financial fraud on its own, even without dedicated money laundering laws. The canard that the housing market in Canada has been propped up by illegal money has been debunked so many times it's not funny. Everyone continues to prefer to think that over the real truth, which is tha…
I wouldn't use the word the "propped up", I would probably use foundational. It is not like the Canadian government is eager to turn away the flow of money entering into their economy as they say. Canada is doing as great of a job of preventing this moneyflow as UK is doing with stopping Russian Oligarchs to "invest" in their economy. UK too have laws in preventing money laundering I presume.
If you want to call money laundering foundational, then you need to explain how on earth that is connected with the market in Peterborough being up 50%+ over the pandemic. Peterborough isn't unique; it just gives the lie to the idea that this is somehow foreign money causing the problem. Foreign buyers have tanked in the last two years (since most of the time they were not even permitted to enter the country) yet it is continually called out as the culprit. Nonsense.
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Exactly. I'll only visit safe countries like China.
dunno whether your comment is sarcastic or not... But it is definitely not safe to visit china. After the case of the two canadians, it is always a risk and there were some incidents before that also.