One month ago, when describing the latest in an endless series of Vancouver real estate horror stories, in this case an abandoned, rotting home (which is currently listed for a modest $7.2 million), we explained the simple money-laundering dynamic involving Chinese "investors" as follows.
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Source: The Buring Platform
Submitted by Simon Black via SovereignMan.com,
The 12.5 hours spent crossing the Pacific on Qantas flight 27 feels like going through a wormhole.
The flight departs Sydney, Australia at 12:50pm and arrives to Santiago, Chile the same day at 11:20am. In other words, the plane lands 90 minutes before it departs.
When I landed yesterday, the captain came on the P.A. and said, “Ladies and Gentlemen, I have good news; if you enjoyed Wednesday March 9th, it’s still Wednesday March 9th!”
The story of the theft of $100 million from the Bangladesh central bank - by way of the New York Federal Reserve - is getting more fascinating by the day.
The last time that global liquidity conditions contracted at this pace was March 2008 (right as stocks dead-cat-bounced on the back of The Fed's guarantee of Bear Stearns' sale to JPMorgan)... and things escalated rather quickly thereafter.
Liquidity conditions also contracted (though not as severely as the current conditions) in Dec 2011... which prompted Bernanke to unleash QE2...
h/t financialsense.com
Bloomberg defines BofAML's Global Liquidity Tracker as follows: