Valued At $16 It Sold For $68 Million "In 7200 Seconds" - The Inside Story Of Vancouver's Wildest Property DealSubmitted by Tyler Durden on 04/22/2016 23:15 -0400
"The property is worth, what, C$20 million, and somebody pays C$60million? One wonders what’s going on. Is this New York? Is this Hong Kong?"
As markets flutter to life following the Doha disappointment, it is clear some turmoiling is to come. Canadian Dollar is down over 1% against the US Dollar - the biggest drop in 4 weeks - erasing all of last week's gains. Ahead of this evening's crude futures open, CAD implies a sub-$39 open for WTI...
Meet Andy Guo, an 18-year-old Chinese immigrant, who loves driving his red Lamborghini Huracán. He does not love having to share the car with his twin brother, Anky. "There’s a lot of conflict," Mr. Guo said, as a crowd of admirers gazed at the vehicle and its vanity license plate, “CTGRY 5,” short for the most catastrophic type of hurricane. Or Diana Wang, 23, who thinks a supercar is a poor investment, because its value decreases over time. "Better to spend half a million dollars on two expensive watches or some diamonds."
Sterling fell 20% on BREXIT concerns and the euro fell 11% against gold. Canadian dollar fell 10%, Aussie dollar fell 9% & Swiss franc fell 12% against gold
As this unfolds, your biggest risk isn’t the crashing stock market or the crashing bond market. Your biggest problem, and also the one most people just don’t see, is political. Your government is by far the most serious threat to your money and wellbeing.
Oil and the Canadian Dollar have traded tick-for-tick for the last 24 hours... until around 5amET, when the loonie was suddenly bid despite a plunge in crude. As US equities opened and crude extended its losses, CAD quickly plunged but it appears someone, or something, was ready to buy with both hands and feet...
"To protect Canadian taxpayers in the unlikely event of a large bank failure, the Government is proposing to implement a bail-in regime that would reinforce that bank shareholders and creditors are responsible for the bank’s risks—not taxpayers. This would allow authorities to convert eligible long-term debt of a failing systemically important bank into common shares to recapitalize the bank and allow it to remain open and operating."
What may surprise some people when looking at the top 15 list of the most expensive housing markets in North America is seeing Vancouver — the third most expensive city in the world — down in the 6th position, behind a less expected entry … Brooklyn, N.Y.!
It is trying to make a recovery as of late as the price of Oil is off the bottom, but if Oil takes another leg lower, this could spell more pain for the currency.
Some people say that gold is dead. They point to deflationary pressures and a bear market that started back in September of 2011. The bulls have been wrong for years; however, that may be about to change…
"The severely adverse scenario is characterized by a severe global recession, accompanied by a period of heightened corporate financial stress and negative yields for short-term U.S. Treasury securities.... As a result of the severe decline in real activity and subdued inflation, short-term Treasury rates fall to negative ½ percent by mid-2016 and remain at that level through the end of the scenario."
The recent reversal is definitely positive. Both false breakouts and false breakdowns often turn out to be reliable trend change signals. An additional bonus in this case was that the initial breakdown has induced widespread capitulation. Contrary to the immediately preceding rally attempt, the current one has been a “scared rally” so far. The mainstream financial press is still busy penning obituaries on gold, which is generally a good sign as well.
After the biggest two-day surge in oil in seven years, early in the overnight session both Brent and WTI continued their run for a third day, entering a bull market, 20% up from recent lows hit just last week (still 15% down on the year) when Saudi Arabia spoiled the momentum party after the world’s biggest crude exporter said it’s keeping up investments in energy projects while diesel consumption in China dropped for a fourth consecutive month, signaling an industrial slowdown. And thanks to the near record correlation between equities and oil, global stocks and US equity index futures initially rose only to slide following the Saudi comments.
Fruit, Vegetable Prices Soar In Canada: "If You Insist On Eating Tomatoes, You're Going To Pay For It"Submitted by Tyler Durden on 01/23/2016 12:58 -0400
"Going forward I think we’ll see even higher upward pressure on imported fruits and vegetables. If not for weather conditions, certainly that low Canadian dollar will affect it. Because the numbers we’re talking about today are from December and now in January we’re almost five to six per cent lower on that dollar….If people insist on eating fresh tomatoes and pineapple in January, they’ll be forced to pay for it.”