Canada Has Nosedived Into a Racist Country From Being The Most Tolerant Country In The World

A lot of people believe that Canada is this beautiful, non violent, safe and growing country which it used to be until a few years ago.

However, things are disintegrating across Canada quite rapidly.

Since 18 July 2018, within 12 days, there have been 4 random racist attacks in Toronto area that are now making global headlines.

This is besides the 3 terrorist attacks across Toronto in the last 4 months.

One terror attack happened in Yonge/Finch area by a van in April 2018.

Second terror attack occurred in May 2018 at Bombay Bhel Restaurant in Mississauga.

Third terror attack occurred in Danforth Area on 23 July 2018.

Previous Post: Terror In Toronto: Random Terrorist Attacks Stalk Innocent Torontonians

Second Criminal Court Case Filed Against Arif Naqvi In Sharjah Court Today

Second court case has been filed today, 31 July 2018, against Abraaj Group's ex-CEO, ex-Chairman, Arif Naqvi, by his partner and close friend, Hamid Jafar, of 20 years, days after "settling" the first one.

As we have said, there is no way out of this quagmire.

It is just a matter of time before several main players end up in jail for this mess.

First cheque bouncing case was for USD 300m that was settled out of court, now second one has arisen for USD 217m by the same party.

Kuwait Govt, Bill Gates, UK and French Govt, dozens of banks have yet to file their claims.

There is no money, so better hurry up, else all money will end up going to the owners themselves.

Keep watching the drama unfold on a daily basis as everyone comes out of the woodworks to sue the owner and master mismanager, Arif Naqvi.

Alas, the regulators, courts and liquidators don't even have sufficient past documents to work with.

The corporate governance in DIFC and supervisory oversight could not get any worse.

FT has printed another article today on poor corporate governance in DIFC and the Middle East in general.

Abraaj woes puts Gulf’s corporate governance under spotlight

"Many experts have for years warned about weak standards of governance in the region"

All worldwide regulators will be watching this unfold in Dubai with much awe and fear, both in equal measures, with their mouths wide open.

It will get a lot worse in days to come because billions of dollars are frozen in assets worldwide that too in emerging markets (where it is very hard to dispose assets) while billions are at stake for lenders and investors who want their money back as of YESTERDAY.....

Exclusive: Abraaj founder faces second bounced cheque case over $217m payment

Abraaj: The Mother Of All Collapses Dragging Dubai & DIFC Towards An Existential Crisis

Dubai has seen a fair share of real estate collapses, money laundering scandals and criminal arrests over the last decade.

Some names that have tarnished DIFC in a very spectacular manner included Sarasin-Alpen CEO’s misselling criminal conviction that led to dismantling of joint enture of Sarasin-Alpen and the very first proven mis-selling conviction of a banker from around the entire world against it’s CEO in DIFC.

MAS Clearsight DIFC CEO has been missing after selling tomato farms to clients and the licence was suspended in June 2015 while Espirito Santo DIFC went bankrupt and has been under bankruptcy proceedings since Oct 2014. 

ABN AMRO was hit with fines several times for breaking sanctions against Iran who shut in Dubai along with several exchange houses who also have been shut or fined.

Deutsche Bank was hit with a massive fine as well related to gold dealings.

Euram bank CEO was also fined by DIFC.

FFA Bank CEO was also fined for issuing a false letter.

We are unable to discuss details of Gold AE DIFC company scandal here.

Large banks like ABN AMRO, Lloyds, Societe Generale, Barclays, Dresdner, RBS, Fortis, Vontobel, EFG Bank, Clariden Leu etc have all shut from DIFC and departed while large funds like MAN, GAM and Old Mutual also collapsed. Even the Governor of DIFC, Dr Omar Sulaiman was caught in a major scandal during the 2009 crisis.

Now it’s the turn of the collapse of Abraaj Group that had become the largest Private Equity player in the world in Emerging Markets investing and had presence in 18 countries.

From the article:

“After Naqvi, 58, surrendered control of Abraaj in June, it was revealed that for years, its main revenues didn’t cover operating costs. Abraaj borrowed to fill the gaps and now owes creditors over $1 billion. Once lenders turned off the taps, the firm collapsed, leaving losses, lawsuits and shattered reputations in its wake.”

You can read today’s latest Bloomberg article here:

30 July 2018: Behind the Spectacular Collapse of a Private Equity Titan

Barcelona, Venice, Mallorca, Copenhagen:Tourists Not Welcome, As The World Keeps Sinking Under The Weight Of Overpopulation

Across Europe, tourism is on the rise from overseas.

Reasons are that more Chinese and Indian travellers (combined population 2.7bn) than ever before can afford to travel overseas, stronger USD allows more Americans to visit “charming” Europe, rapidly rising refugees etc.

Overall the European economies are not doing well hence they welcome the increased tourism and the money spending tourists but the tiny cities are being overwhelmed and overrun by global tourists. 

The cities are unable to handle the influx any more.

Crackdowns on tourists are occurring on what areas tourists can be permitted, number of days when there is a ban on entry of tourists, crackdown on real estate rentals, on AirBnb rentals and various other measures. 

This does not include the pollution damage that the tourists leave behind.

The world is simply cracking under the weight of over population all around us.

From terrorism, to climate change, to plastic pollution, to dying fish and animal species, to global crisis wherein millions of jobs are being fired every year as major businesses keep collapsing.

Now it’s the turn of tourism.

26 July 2018: Europe Made Billions from Tourists. Now It’s Turning Them Away

Facebook Shares Lose 20% In ONE DAY: Single Largest Market Cap Collapse In Stock Market History

From CNBC, Source FactSet

On Thu, 26^th July 2018, Facebook shares plunged from previous day’s close at USD 217.50 to USD 176.26 (down USD 41.24 / 18.96%).

This marks the largest decline of any single stock and of total market value in a single day in stock market history.

Some of the reasons, why Facebook plunged:

1. Over 1 million users deactivated their accounts in Europe in one quarter and more elsewhere.

2. Mark Zuckerberg and his insider colleagues have sold a total of USD 3.9b in Facebook shares that they owned during first half of 2018, since the UK Cambridge Analytica scandal broke in Feb.

3. Out of 46 analysts researching Facebook only 2 have a SELL on it’s rating. One of the main ones with a sell rating is Pivotal Research whose analyst has been correct on calling out declining users. Pivotal dropped their target price to USD 140 yesterday. JP Morgan removed FB from their Focus List yesterday while Morgan Stanley cut target price from USD 215 to USD 185 per share.

Terror In Toronto: Random Terrorist Attacks Stalk Innocent Torontonians

Until last year there used to be just an annual terror attack in Toronto/Canada that are now occurring on a monthly basis in 2018, thus shattering peace and tranquility in one of the most cosmopolitan cities on Earth.

What is very worrisome and scary is that these are random attacks on innocents unlike previous criminal attacks across North America that were usually drug or crime related amongst criminals.

On the morning of Monday, 23 July 2018, over 6.5 million Torontonians (residing across GTA, and all Canadians) will awaken to a mass, senseless overnight shooting in "Greektown" or "The Danforth", that is famous for food and Greek culture since it was set up after World War 1 to settle the Greeks and previously also had many Italians and had been known as the largest Greek town in North America.

23 July 2018: 

At least two people dead, 14 injured in Toronto shooting

Egypt: Gas Prices Hiked 75% & Gasoline Prices by 50% To Pay Back IMF!

Photograph: Mohamed Abd el Ghany/Mohamed 
Abd el Ghany/Reuters/Corbis

Egypt has been in crisis mode over the last few years.

Saudis and UAE have given them deposits to keep the Govt. an the country running. 

Since 2016, USD 12b has been received from IMF as loans. Various subsidies on gas, gasoline, water, electricity etc have been slashed. 

Unemployment is on the rise rapidly as businesses close or slow down in a country of approx 95m population.

In order to pay back the IMF, public is being fleeced.

Last month, Egypt hiked the petrol and diesel prices by 50%.

Egypt raises gasoline prices by up to 50%

Yesterday, July 21, 2018, Egypt has hiked LPG prices by 75%.

Egypt raises gas prices by up to 75 pct to promote economic reform 

IMF approves 4th tranche of Egypt’s $12 billion loan

Where did this USD 12bn go? Nobody knows.

Unemployment is rising very rapidly and we can expect social & political turmoil in the months ahead.

NOW Is The Time To Get A New Citizenship Because They Can Get Shut Anytime!

Picture of Antigua Island

If you want to know what others are doing, then you can have a look at this market update.

I have advised over the last decade, that a new passport is just a travel document or a “Plan B” as is now being mentioned in the article below.

Where the Super-Rich Go to Buy Their Second Passport

My recommended countries are right at the bottom with ZERO tax and are also the most popular worldwide.

Another market update below, and do remember that such programs can anytime be stopped for any reason by the big countries such as USA or EU for any number of reasons.

UK, Singapore, Canada have almost shut their programs and made it impossible for the wealthy to get a new passport unless very stringent criteria are met.

Are the Caribbean's wealthy new citizens a lifeline or a liability?

Cyprus (and Malta) remains the only European country giving the fastest EU passport. 

Cyprus tightened rules 3 weeks ago whereby it will take 6 months to get a new passport instead of 3 months previously and capped the number of citizenships at 700 only per annum.

Cyprus is fastest way to obtain European passport

Indians and Chinese are the largest number of applicants in the last few years along with Middle Easterners for new passports in this USD 2b plus global market per annum.

20 July 2018:Double Historic Day In India-No Confidence Vote Against Govt & Indian Rupee At All Time Low

Today is a double historic day and a double whammy for India.

Indian Rupee has plunged to an all time low and closed at 69.05 for the first time in it's history.

It has traded at 69.24 intra day previously but never closed at this level in it’s entire history.

Rupee slips 43 paise against dollar; ends at a lifetime low of 69.05 

Secondly, another historic day is in the making.

It’s a major day for democracy in India.

There is a no confidence vote against PM Modi's Govt in India today.

Should the opposition win, the Govt could fall down like it happened to A. B. Vajpayee in 2003.

Both sides are claiming victory thus far but it is not a victory for anyone until the vote has concluded later in the day.

First no-confidence motion in 15 years: Then Vajpayee, now Modi

The biggest reason why the USD INR is depreciating like all other currencies around the globe against the USD is that China is depreciating it's currency against the USD at the fastest speed in history.

Guess what the Chinese are saying, more depreciation of their currency and economic support for the Chinese businesses is still ahead.

This month's decline in CNY is much faster than in 2015

China’s central bank preparing further policy easing to counter credit squeeze

This is due to the stupid tariff war against the world by Trump.

Now we have a global trade war mixed with a global currency war mixed with a global garbage war (China has stopped accepting 111 million tons of trash from the West since Jan 2018) amid declining growth and declining jobs worldwide.

No wonder the global currencies are issuing a warning that worse days are ahead.

Live Indian Rupee FX rate here: https://www.investing.com/currencies/usd-inr

Over 70,000 Tech Workers Fired In World's Largest Tech Companies So Far In 2018

From Deutsche Telekom website who cut highest 10,000 staff

If this is the state in largest companies in the world like Uber, Tesla, Microsoft , Huawei, Telenor, BT, HP, HTC etc. then one can imagine the situation in the smaller tech companies around the world.

18 technology companies that announced job cuts in 2018

They missed the 8,000 cuts in Telstra, in Australia.

Telstra announce it will cut 8000 jobs as part of a new strategy

They missed eBay as well

eBay chops hundreds of Bay Area jobs 

And Lexmark too.

Lexmark Announces 1,000 Layoffs Worldwide; Number Of Local Cuts Undisclosed

Saudi/UAE Could Accept Chinese Yuan For Oil & Friction Amongst UAE Ruling Families Appear Publicly For The First Time In UAE History

 Our private clients have known since May 2018, that the would be Crown Prince of Fujairah (one of the 7 states comprising the UAE) and potentially the future Ruler of Fujairah had run away from UAE and took asylum in Qatar.

This has huge geo-political ramifications for the UAE as well as for Iran and Qatar on the other end.

It has also been known to our private clients that one of the daughters of Ruler of Dubai had run away in March 2018 and has not been seen since, when India allowed her capture and to be sent back to Dubai.

Now, one of the leading newspapers of the world has released this damaging information today, spilling the internal frictions of the families of the UAE rulers in the open that is happening for the very first time in UAE history.

NY Times: Emirati Prince Flees to Qatar, Exposing Tensions in U.A.E.

Over 362,000 US Citizens Risk Losing US Citizenship Due To Tax Delinquency, Get Your Second Passport NOW!

Increasingly authoritarian state of USA has new laws in place for all it’s citizens.

If any US citizen has any dispute with US Govt over taxes and has unpaid taxes above $51,000, then his/her passport can be revoked!

This basically targets the wealthy folks.

This will happen across various countries in the near future....for one reason or another (mostly because all countries except China are bankrupt and hence need all the revenues they can raise while business revenues are tumbling globally)

While it will get more and more difficult to acquire a second Passport of a new country.

Last few years, not only countries like Singapore, US and UK have tightened immigration rules significantly and even denied new citizenship’s based on security concerns but emigration from Middle East, China, India etc is at their highest levels in history over the last few years.

Millions are leaving their own countries for education or safety reasons and thousands are running away for various reasons.

We have seen examples in China, India or Dubai (across entire Middle East including Iran) and now in USA or elsewhere where the wealthy need to run away for reasons of taxes, overdue bank loans, business disputes, kidnapping or other security threats like in Syria or Yemen etc to personal safety etc that ALWAYS develop overnight.

Hence, if anyone needs a second or third passport you may contact me on nathanimanoj1@ gmail.com.

The best time to get a new passport is when you don’t need it which is RIGHT NOW!

362,000 Americans Could Be Denied a Passport Because They Owe Taxes

Looting of India Continues Unabated in the 21st Century

First the Mughal’s looted India since the 15^th century.

Then Britishers looted India from 17^thto the 20^thcentury.

Now along with the corrupt politicians, the billionaires are looting India for the last few decades!

What a sad state of affairs.

Read this fascinating article on India and it's inglorious growth where money only flows rapidly to the top.

To be fair, millions have been lifted out of poverty and illiteracy has improved a bit in numbers, yet the numbers remain the largest in the world. Poverty and hunger today in India is worse than in sub Saharan Africa.

But the rich have become richest accumulating majority of the wealth causing severe civil disturbances and acute food and water shortages all around.

And now, with a severe crackdown on some and lack of money flows due to economic slowdown and the worst banking crisis of any country in the world, the rich are running away from India (35 billionaires plus at last count) while 17,000 dollar millionaires have left India in a short period of time between 2014 to 2017 with thousands more migrating to Canada, Australia, NZ or wherever they can find a way.

The entire core of India has collapsed, with huge job declines, much more economic pains are ahead.

“India’s new billionaires have accumulated more money, more quickly, than plutocrats in almost any country in history. By James Crabtree”

Dubai Loses Four Top 5 Star Luxury Hotel Brands in Less Than 10 days!

Credit: Gulf Business 

Famous Dubai billionaire Al Habtoor has cancelled a resort management agreement with St Regis effective 1 July 2018.

St Regis Resort had opened in March 2017 and lasted 15 months.

St Regis to end management of Dubai polo resort

Yesterday, he has also cancelled 3 more top notch five star hotels on main Sheikh Zayed Road.

St Regis opened Nov 2015, lasted 32 months.

W Hotel opened Jun 2016, lasted 25 months.

The Westin opened Sep 2016, lasted 22 months.

Bye bye Westin, W and St Regis from Dubai.

All properties will now run as local branded hotels.

Dubai’s Al Habtoor City scraps deal with Marriott for St. Regis, W Hotels and Westin hotels

Hottest News–10 July 2018

Capital of Haiti this week

US/San Francisco/Chicago

Business is dropping gradually in Silicon Valley with job cuts all around, hotels and tourism spots and conferences are being impacted due to dirtiness of SFO city and the drugs and needles found everywhere in city streets who don't even have sufficient money to clean up.

San Francisco's 'Dirty Streets' Scare Off Long-time Convention with 15,000 attendees

US schools are seeing sharp drops in foreign students who probably comprise almost half of all students in US colleges.

Sharp drop in international student visas worries some US colleges

Never a dull day in Chicago, at least 50 people are killed every week in the homicide city of America. Now protests escalating further.

Chicago Protesters Follow Up Weekend of Protests With Another Weekend of Protests

Saudi Arabia

As we have warned for 4 years, entire GCC will empty up. This will cause almost all businesses to collapse.

Now data is coming out and more international media is reporting on it.

Job cuts and businesses are closing at an alarming rate with thousands who have run away, millions deported and hundreds of thousands jobless across GCC. Sadly, worse is yet to come. We are not even half way through this collapse. 

But it is old news for us and our followers.

800,000 expats have left Saudi Arabia, creating a hiring crisis: 'Employers say young Saudi men and women are lazy and are not interested in working'

Modern Philippines Rising: Building New Clark City - The Finest, Sustainable, Smart City In The World

Credit: Official Website of BCDA

Since President Duterte has become the President of Philippines, projects of an astonishing nature are being built across the Philippines. 

Almost no other country (except China) has built or is building so much infrastructure in the last 2-3 decades. 

In Philippines, all these projects combined are termed as the "Golden Age of Infrastructure" under the "Build Build Build" Program of President Duterte where more than USD 200bn are going to be spent over the next 2 decades.

Latest mega project is one of the first large scale new cities being built on a large empty land, about 80 kms north of Metro Manila in “New Clark City” envisioned as the newest economic hub of Asia.

This project is valued at USD 14bn plus, is spread over 95 square km and targets to create spacious living and work areas for a population of more than 2 million and to serve as a satellite city to Metro Manila area.

Presidents & Prime Ministers around the world are being jailed

Just this week, 5 days ago, ex-PM of Malaysia, Najib was arrested.

UPDATED: ​Malaysia Reacts to the Arrest of Former PM Najib Tun Razak

4 days ago, in Ecuador, an arrest warrant was issued against 10 year President Correa.

Ecuador seeks arrest of former president in kidnapping inquiry

2 days ago, Pakistan ex-PM, Nawaz Sharif has been jailed and vows to return from London.

Former Pakistani PM Nawaz Sharif sentenced to 10 years in prison over corruption linked to purchase of London flats

One President of Brazil is already in jail (Lula) while Rouseff was impeached and may also end up in jail.

Ex President of Korea, Park Guen-Hye, was also jailed for 24 years on corruption charges, in Apr 2018.

Bangladesh PM Zia was also jailed in 2018.

Here is a full list of Prime Ministers or Presidents have been jailed. But 2018 is turning out to be quite unique and many senior politicians have been jailed worldwide, which seems to be more than ever before.

https://en.wikipedia.org/wiki/List_of_heads_of_regimes_who_were_later_imprisoned

Investment Opportunity in Cebu: Mandani Bay - Top Luxury property

Cebu City is growing rapidly at more than 13% GDP growth while a massive new airport has just opened on 1 July 2018, 3 times the size of the previous one.

At least 2 new mega malls will be delivered in late 2019, new hotels are opening in Cebu at a speed of 1 per month, tourism growing more than 20% pa and a huge new Ocean Park (largest water park in the Philippines) is also due to open in 2019.

Massive construction has been boosted by foreign investors with large scale funding of infrastructure projects under the “Build Build Build” plan by President Duterte supported by billions from China, Japan, Singapore and many more nations.

The largest and 128 year old real estate conglomerate from HK – Hong Kong Land (owned by Jardines) has chosen to develop one of the top most water facing locations in Cebu City.

Evening view - Full render of the Project

Hong Kong Land has developed projects in Philippines already, one in Cavite – Northpine land in 1996 and one in Manila – 2 towers in Roxas Traingle in 2001.

This time they have chosen to build a large multi purpose township of 21 towers spread over 20 hectares. Entire project is estimated to be completed by 2026. 

Launched in 2016, this luxury multi purpose township project is valued at 130 billion pesos (approx. USD 2.8bn based on FX rate in 2016).