Category Archives: Canada

Canada’s Housing Bubble Explodes As Its Biggest Mortgage Lender Crashes Most In History | Zero Hedge

Call it Canada’s “New Century” moment.

We first introduced readers to the company we said was the “tip of the iceberg in Canada’s magnificent housing bubblenearly two years ago, in July 2015 when we exposed a major problem that we predicted would haunt Home Capital Group, Canada’s largest non-bank mortgage lender: liar loans in particular, and a generally overzealous lending business model with little regard for fundamentals. In the interim period, many other voices – most prominently noted short-seller Marc Cohodes – would constantly remind traders and investors about the threat posed by HCG.

Today, all those warnings came true, when the stock of Home Capital Group cratered by over 60%, its biggest drop on record, after the company disclosed that it struck an emergency liquidity arrangement for a C$2 billion ($1.5 billion) credit line to counter evaporating deposits at terms that will leave the alternative mortgage lender unable to meet financial targets, and worse, may leave it insolvent in very short notice.

As part of this inevitable outcome, one which presages the company’s eventual disintegration and likely liquidation, Bloomberg reports that the non-binding rescue loan with an unnamed counterparty will be secured by a portfolio of mortgage loans originated by Home Trust, the Toronto-based firm said in a statement Wednesday. Home Capital shares dropped by 61% in Toronto to the lowest since 2003, dragging down other home lenders. Equitable Group Inc. fell 17 percent, Street Capital Group Inc. fell 13 percent, while First National Financial Corp. declined 7.6 percent. In short, the Canadian mortgage bubble has finally burst.

Some more details on HCG’s emergency source of funding: Home Capital will pay 10% interest on outstanding balances and a non-refundable commitment fee of C$100 million, while standby fee on undrawn funds is 2.5%. The initial draw must be C$1 billion. The loan has an effective – and very much distressed – interest rate of 22.5% on the first C$1 billion, declining to 15% if fully utilized, according to a note from Jaeme Gloyn, an analyst at National Bank of Canada…

Source: Canada’s Housing Bubble Explodes As Its Biggest Mortgage Lender Crashes Most In History | Zero Hedge

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Canada Has Gone Where the US Fears to Tread – Monsanto’s Roundup Found In 30% Of Food

Canada has gone where the FDA fears to tread, testing commonly consumed foods for glyphosate residues from Monsanto’s Roundup weedkiller – and the results are literally sickening. The Canadian Food Inspection agency reports that glyphosate, the carcinogenic key ingredient in Monsanto’s Roundup, was found in 29.7 percent of 3,188 foods tested in the last two years. Glyphosate was found in…

via Canada Has Gone Where the US Fears to Tread – Monsanto’s Roundup Found In 30% Of Food — Prepare for Change

Trudeau Unveils Bill To Legalize Recreational Marijuana In Canada | David Icke

Weed_Canada

‘Today, Canada’s Prime Minister Justin Trudeau, sticking to his campaign pledge, introduced legislation to legalize marijuana in Canada. But not just medical marijuana – recreational marijuana. A milestone in the country’s history and one for the world, too.

While many countries have decriminalized or allowed the medical use of marijuana, Trudeau’s bill – which is expected to pass – will make Canada the second nation after Uruguay to completely legalize cannabis for consumers. Media is warning that “experts” are working out the kinks before sales can begin. Each province will decide how marijuana can be distributed and sold within its territory, including prices and age limits.

Since this effort surrounds legalization versus decriminalization, Canadians can probably expect high taxes and regulation on the product, similar to Canada’s strict tobacco regulations and government-run liquor stores. However, unlike America, where marijuana is legal in some states but still federally illegal (fueling the War on Drugs and police state policies), Canada’s expected ruling will eliminate a national prohibition.’

Source: Trudeau Unveils Bill To Legalize Recreational Marijuana In Canada | David Icke

Teacher Disciplined After Speaking About Dangers Of Vaccines

A science teacher from Canada has come under fire after urging students to learn about the potential dangers of vaccines. 

A disciplinary committee with the Ontario College of Teachers found Timothy C. Sullivan guilty of “abusing students psychologically or emotionally,” after he dared to speak out against vaccinations.

Sullivan was accused of professional misconduct in March, 2015, after he shouted at a public health nurse administering vaccines at his high school, accusing her of withholding information about their dangers from his students.

Thevaccinereaction.org reports:

He noted that the teenagers were required to give informed consent and the nurses, therefore, had the obligation to make sure they were fully informed.

Mr. Sullivan also made the point that, “some of the components in the vaccines were deemed ‘toxic’ in his science lab.” The nurse allegedly answered that they alerted parents and teens about common vaccine risks like fever or soreness at the injection site and she claimed that “a screening tool allows nurses to assess if there are any underlying conditions that would trigger a more serious reaction among students” and added that “the risk of death from receiving a vaccine is so very, very rare.”…

Source: Teacher Disciplined After Speaking About Dangers Of Vaccines

Multiple, Massive UK Pedophile Scandals Unfolding | Stillness in the Storm

(Neon Nettle) A massive inquiry has just launched in the United Kingdom into historic cases of children being sent to other countries where they faced a life of “torture, rape, and slavery” at the hands of pedophile and child sex trafficking rings.

The Independent Inquiry into Child Sexual Abuse opened by investigating as far back as the decades following the second world war looking at schemes that were set up to give vulnerable children a “new life”.Thousands of children were sent to other counties in the Commonwealth, mainly Canada and Australia, with many being lost in the system and ending up child sex slavery.One of the witnesses, David Hill, was sent to Australia as a child and broke down as he described the “endemic” sexual abuse he suffered at the hands of a pedophile ring;…

Source: Multiple, Massive UK Pedophile Scandals Unfolding | Stillness in the Storm

WikiLeaks: CIA Asked Canada To Help Hack French Election

A set of WikiLeaks documents reveal that the CIA enlisted Canada as one of several countries to help them hack the 2012 French presidential election…

Source: WikiLeaks: CIA Asked Canada To Help Hack French Election

Canadian Military’s 2nd-In-Command Just Became A Whistle-blower By Leaking Highly Classified Information | Stillness in the Storm

(Lance Schuttler) Canada’s Vice-Admiral, Mark Norman, has just been relieved of his duties for leaking “highly classified information,” according to Canada’s Globe and Mail. Norman is the 2nd highest ranking military officer in Canada.

Source: Canadian Military’s 2nd-In-Command Just Became A Whistle-blower By Leaking Highly Classified Information | Stillness in the Storm