SAY THAT AGAIN PLEASE? CHINESE COMPANIES PULLING OUT OF US STOCK ...
This one was sent to me by a regular reader here on this website (Mr. V.T.) and I thought it really deserved some comment. It seems that Chinese companies are now gradually withdrawing their shares from American stock exchanges, and with the help, in some cases, of the Chinese government to buy back shares.
Before I get to what really just made me guffaw out loud, the article itself:
Now, in case you missed it, read that one paragraph yet again:
"'Probably all these companies have some questionable accounting, so they may prefer to move out of the U.S., not to come under too much scrutiny,' said Marc Faber, managing director of Hong Kong fund management company Marc Faber Ltd"
Oh those nasty, naughty, inscrutably Oriental, double-dealing, book-cooking, double-accounting, re-hypothecating, data-dressing Chinese! Oh, and I forgot these paragraphs (honestly folks, I laughed so hard I nearly turned purple):
"The group proposing to take the company private includes its chairman, Jason Nanchun Jiang, and private equity firms Carlyle Group, CITIC Capital Partners, CDH Investments and China Everbright Ltd.
"The status of Chinese companies in the United States could be complicated by a dispute between U.S. and Chinese regulators over whether American inspectors will be allowed to examine the work of their China-based audit firms.
"Washington wants auditors to hand over documentation on companies that are under investigation but Chinese authorities have barred the release of some information. If a settlement is not reached, the SEC could reject audits by China-based firms, forcing companies to find new auditors."
Yea....you read that correctly: the Carlyle Group(among others...think King George the First and King George the Second here...and I don't mean of the House of Hannover, but of the House of Prescott) is concerned over the internal auditing procedures of those nasty, naughty, inscrutably Oriental, double-dealing, book-cooking, double-accounting, re-hypothecating, data-dressing Chinese, so our ever-vigilant SEC (remember them? well, if not, we'll get to them in a minute) "could reject audits by Chinese firms" because apparently those nasty, naughty, inscrutably Oriental, double-dealing, book-cooking, double-accounting, re-hypothecating, data-dressing Chinese cannot count.
All the better to have our upright, vigilant, ever-virtuous-and-concerned-for-the-public-good home grown Mom, Amurrika and apple-pie accounting companies do the auditing. They'll be much better at watching out for fraud, after all, they caught all the robo-signing, re-hypothecating and reselling of mortgages in all those derivatives and default swaps, right? After all, our own corporate and banking culture is so much more sophisticated and much less corrupt than the authoritarian Chi-coms, right?
On the serious side, what does this mean? Quite simply, I think this: as the geopolitical situation deteriorates, China will increasingly seek to open markets in Asia, and increase its pressure on the USA's already crumbling network of "friends" in South America and Africa, and it will do so by consistently beating the deals that the USA's shills - the World Monetary Fund and the IMF - have to offer, and Russia won't be far behind. The worm has turned, and the fact that the House of Prescott via the Carlyle group is leading the way, means that at least some in the West know it.
See you on the flip side.
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The USA buys Chinese JUNK and pays for it with junk DOLLARS. (go to the US Treasury with a hundred dollar bill and see what you get back in return? 5 twenty dollar bills – no gold! I think it might even be an even Exchange?)
Strange accounting and bookkeeping going on………….
it should get even stranger……………sooner…………
rather than later
They know the Andersons’, Ernst & Youngs’ and other U.S. accounting firms of FF; fraudulent flows, are as bent as they come.
Ther IMF is simply the muscle that is backed by the U.S. Military. First the Economic hitman, then the day of the jackle, the the invasion.
-Like the VERY first move in the Libyan invasion: taking over the NOT-westernized & NOT-centralized bank.
The Bully is being recognized not only by those being bullied, 3rd world countries; but by the Bully’s dupes, so-called U.S. citizens(aka political prisoners).
If you lost the olympic medal count to a nation’s whose leisure time you completely subsidize, would you continue to hand over money to them in any fashion? Especially if your athletic prowess was a source of such great national pride like it is for the Chinese? The reason the US cleans up in medals is because we have so many citizens with ample time and resources to train. Thank you China for your hard earned money and thank you Chinese citizenry for working like slaves se we don’t have to. And thank you for not getting angry and resentful while we do nothing except over eat and watch tv and drink beer while you live and work in company slave camps making the stuff that we will buy with the money you loaned us. And it is never even stuff we need. Just crap we will sell in a garage sale a few years later for pennies.
I would also like to thank Benjamin Netanyahu for not blowing anybody up at the olympics and blaming it on arabs.
You eloquently, though unknowingly, showcase so many reasons for the steeper and steeper decline of your civilization. Bravo!
“Well, let it be said that the Chinese were cooking their books while our own ancestors were in the Iron Age living in lice, illiterate and uncivilized.”
I heard this in school, therefore it must be true.
you not so eloquently and unknowingly showcase how tired old memes can pass as truth in your civilization. Bravo!
Well, to say the truth, I do live in China. I know first hand. And there are museums to show you evidence about those things. It’s not a meme, its just hard facts. Sometimes you have to know when you’re wrong. Sorry.
sorry. i was referring more to the Roman propaganda about our own ancestors “living in live, illiterate, and uncivilized.” I’m fully aware of China’s accomplishments.
Well, let it be said that the Chinese were cooking their books while our own ancestors were in the Iron Age living in lice, illiterate and uncivilized.
That being said, I can see from their expertise the obviousness and awkwardness of the Americans trying to fool Chinese auditors with their crude and inadequate methods.
To me this is a bit like the park chess player trying to pull a fast one on Kasparov. A bit out of his league… but funny to watch.
No good comes out of war, and no people revolts while eating three times a day. Ergo, America is f@#$^d.
Missed your perspective outlooks.
Well said.