THAT MONEY LAUNDERING THING: CHINESE OLIGARCHS AND SOME H.O.S.(HIGH ...
Sometimes scheduling blogs becomes a problem, because there's so much to talk about and ponder, that selecting things is difficult. Thus, sometimes I "carry" stories and articles that people send me into the next blogging period, and this is one such story, shared by Mr. S.D. I share it here because it is more grist for the mill of speculation, but we'll get back to that. This story from Zero Hede, however, is worth pondering just on its own merits, without any wider scenarios;
How Chinese Oligarchs Used Fake Trade Invoices To Launder Almost $1 Trillion Globally
Now the point of the article is clear enough, but there's a few additional points to notice here:
"But I digress. This post is supposed to be about illicit Chinese funds and how it’s basically a total free for all. Much of this money has entered U.S. real estate, helping to price out American families who can barely afford rent at this point (see: 1 in 4 Renters Use Half Their Pay for Housing). I’ve focused on this issue often over the past couple of years. For example, in the post, Chinese Purchases of U.S. Real Estate Jump 72% as The Bank of China Facilitates Money Laundering, I wrote:
"American citizens already have a hard enough time affording a home. Squeezed out by financial oligarchs buying tens of thousands of properties for rental income, and faced with real wages that haven’t budged since the mid-1970s, the demographic of U.S. citizens that historically dominated the new home market has been forced to live in their parents’ basements. Just to kick em’ when they’re down, Americans now face the impossible task of competing with laundered Chinese money."
(All emphases by Zero Hedge)
And let's add this:
The vast majority of illicit financial outflows is due to trade misinvoicing.
Can you believe it’s not Bitcoin after all!Save for a brief slowdown during the financial crisis, illicit financial flows have been allowed to grow unchecked over the past decade. In 2012, illicit outflows reached a staggering new peak of US$991 billion.
Read that twice, and then read it again. The banker bailouts bailed out the criminals and their criminal global financial system, which then ramped to new heights of corruption and fraud in the subsequent years.Illicit financial flows from developing countries are facilitated and perpetuated primarily by opacity in the global financial system. This endemic issue is reflected in many well-known ways, such as the existence of tax havens and secrecy jurisdictions, anonymous companies and other legal entities, and innumerable techniques available to launder dirty money—for instance, through misinvoicing trade transactions (often called trade-based money laundering when used to move the proceeds of criminal activity).(All emphases by Zero Hedge)
Help the Community Grow
Please understand a donation is a gift and does not confer membership or license to audiobooks. To become a paid member, visit member registration.
Wonder how much of this dough will be used to invest in GMO friendly farmland. The EB 5 visa (eventual green card) costs 1 million “generally” but is reduced to 500 grand if invested in high unemployment areas(150% of the national average) or in RURAL areas. In “upstate” SC I recently encountered a section of toll road, in what looked like the middle of nowhere. I wonder if this was an EB 5 financed project. Doubt if any of this dough will reach inner city Detroit, Camden, Baltimore etc.
Yep, it’s going on here in Australia. Chinese property buyers have pushed the average house price in Sydney up to …. $1.3 Million …. that’s right … one point three million !!!
Parts of metro Vancouver, BC feel like you ARE in China. I didn’t feel like I was in Canada at all. Meanwhile any caucasian American male visitor is viewed at the border like a gun-toting Rambo.
Cue George Carlin (my generation’s comic philosopher)
Carlin Nails It!
Also we have…
Max Keiser This Week Saying,
“Until there is a Banker on a spit
being roasted over an open fire…”[1:30 minutes in]
For some time now there has been an ongoing ever increasing land grab that looks increasingly like a final push towards enclosure of the planet’s wild places, a last roundup on the global commons.
This is the battlefield of the 21st Century as Capitalism’s raisin d’etre to bring every aspect of human life into the economic arena, transforming it all into commodities, to be exchanged as property in the marketplaces; versus the counter currents transitioning capitalism toward a coming Collaborative Age[the Internet of All Things, IoT] that heals the biosphere and creates a more just human and sustainable global economy for living beings on Earth.
It is a battle to privatize ALL Nature versus the sharing of nature with all living beings. It is a battle for the very soul of being.
It is, to be cliché – the essence of Democracy. That we NOT Trust and NOT have faith in our leaders. Democracy, after all, is a system built on DIStrust. When it works we get REAL DEBATE, INVESTIGATIONS, EXPOSURE, AND ACCOUNTABILITY.
TRUST only a Vigilant, Informed, Distrustful Citizenry:
WE THE PEOPLE
Colorado western slope is fighting to keep BLM land open right now. The state recently bought 2 new airplanes with state of the art thermal engineering, humm.
Hmm is right.
“Democracy, after all, is a system built on DIStrust. When it works we get REAL DEBATE, INVESTIGATIONS, EXPOSURE, AND ACCOUNTABILITY.
TRUST only a Vigilant, Informed, Distrustful Citizenry:
WE THE PEOPLE”
EXACTLY! Hence the necessity for constitutional government and why no tyrant who places himself above the Law (i.e. Lincoln, Wilson, and FDR for starters) should be lionized as our phony academic establishment is directed to do. So long as they remain within their constitutional cage, no trust is necessary. The moment they step out, trust is all we can do, and no fallen human can be trusted with that much power. So put them all back in that cage and slam the door.
The Max Keiser Report for today
addresses the issue of Democracy.
Yesterday I listened to the presentation by Catherine Austin Fitts at the Secret Space Program conference, for the second time.
It is truly AMAZING the gargantuan amount of corruption in the US government, it is just astounding.
So two can play that game it seems, and the hidden system of finance goes Mr. Global (CAF’ term). Just the drug money alone would be enough, but enough is never “enough”.
I believe the term is “institutionalized corruption”. Where Organized Crime sent all their kids to law school. Becuz, as the old Don said “We can steel more with a briefcase than with a gun. I’m not disparaging Organized Crime, they are just low bid CIA contractors. As Gerald Celente puts it, the “White Shoe Boys” Ivy League Mafia are the real culprits.
Grand Larceny is the foundation of Western(Civilization) only difference it’s gone global. Corporate Kleptocracy has replace governments at all levels around the World ME ME is all that counts psychopaths is the new normal.
Well I guess the AIIB has more investment capital lying around than I initially thought.
I saw this one, a real “doozie” and obviously not because we are supposed to feel surprised that Chinese banks are doing such ungentlemanly things (i.e. exactly what the “western” banks have long been doing).
An urgent priority for the new model of social organization is to go back to a more humanity-based mode, starting from a return of the concept of a house as a home: its quality as a place to live in must take priority over the current perverse brand of securitization. Moreover, in North America, “housing” is almost equivalent to “land”, something less true in other parts of the urbanized developed and developing world where most people live in apartments.
As you say, this “harvesting” process could be going full circle, though this is not the only thing going on in the US; while some forces seem intent on extracting every last penny, others seem to be trying to get manufacturing and jobs back…a little belatedly…