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    Senior Member AirborneSapper7's Avatar
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    PITCHFORKS COME OUT AS CHINESE BUST KLEPTOCRATS

    PITCHFORKS COME OUT AS CHINESE BUST KLEPTOCRATS
    Submitted by ilene on 03/31/2014 12:42 -0400
    PITCHFORKS COME OUT AS CHINESE BUST KLEPTOCRATS

    By RUSS WINTER


    in the West, being a kleptocratic crook in China is now becoming a higher risk proposition. One gets the sense that as the credit monster collapses in China, and as auntie’s wealth management product is shown to be a loss, out will come the pitch forks. Seizures, arrests and even executions will become the order of the day.

    It is not too difficult to understand how these kleptocrats stuffed an estimated $1 to 4 trillion into overseas banking accounts, which I’ve dubbed “the ratline.” In the real estate part of the equation, first corrupt local officials seize the land of farmers. The windfall extraction occurs when the land is effectively rezoned for constructing ghost buildings and cities. Then, in an greatly expanded version of the U.S. savings and loan fraud of the 1980s, cronies in Chinese banks make shady loans to “developers.” In turn, the developers throw up pie-in-the-sky projects. It’s a facade to collect fees and soft dollars, leaving the largely unsecured debt to be dealt with by other cronies and friends in government. The end result of this loot and extraction is aptly described by David Stockman in ”China’s Monumental Ponzi.”



    The story around the Zhou racket is illustrative
    :

    “Chinese authorities have seized assets worth at least $14.5bn from family members and associates of retired domestic security chief Zhou Yongkang, who is at the centre of China’s biggest corruption scandal in more than six decades, according to Reuters news agency. More than 300 of Zhou’s relatives, political allies, proteges and staff have also been taken into custody or questioned in the past four months.”

    As some examples, such as Li Peiying, are executed and the Chinese economy implodes, it is even more imperative for kleptocrats to get their ill-gotten gains and banal personas into the global offshore ratlines.
    In recent years, one of those ratlines was in Canada, but that country has grown weary of the inflated, high-end real estate bubble prices and the behavior endemic of kleptocratic criminals and decided to pull the plug [see South China Morning Post] on its investor visa scheme. More than 45,500 waiting in the queue will need to seek other destinations aka refuge.


    One of those new locales
    is the U.S., where wealthy Chinese are lined up for green cards. One of the planted promotional ploys that these Chinese kleptocrats are using is a scam making the rounds that they “are investing in Detroit.” To the average American, that sounds like a prospect for urban renaissance. However, the reality indicates this is a falsehood and a red herring [see NPR's "Chinese Investors are Not Snatching Up Detroit Property"].

    Until recently, details surrounding the secretive Chinese offshore ratline story have been widely speculated upon but remained largely unknown. Files obtained by the International Consortium of Investigative Journalists (ICIJ) reveals that nearly 22,000 offshore clients with addresses in mainland China and Hong Kong appear in a cache of 2.5 million leaked files.
    Among them are some of China’s most powerful men and women — including at least 15 of China’s richest, members of the National People’s Congress and executives from state-owned companies entangled in corruption scandals.



    ICIJ has the details on a number of Chinese ratliners in its highly revealing article. In my view, this investigative journalism is right up there with Edward Snowden’s revelations. In some cases, these corrupt players are already serving jail time in China as their loot sits in offshore accounts. The case of Zhou Zhengyi is illustrative.

    Pricewaterhouse Coopers, UBS and other western banks and accounting firms play a key role as middlemen in helping Chinese ratline clients set up trusts and companies in the British Virgin Islands (BVI), Samoa and other offshore centers. ICIJ report states: “Tax Justice Network, an advocacy group, says BVI offshore entities have been linked to ‘scandal after scandal after scandal’ — the result of a corporate secrecy regime that creates an ‘effective carte blanche for BVI companies to hide and facilitate all manner of crimes and abuses.”
    The BVI, in turn, ties in as a money source for international banking cartels operating out of the City of London in particular. That cozy arrangement between Chinese kleptocrats and offshore bankers thereby germinates other loots and speculative bubble-blowing activities. Who says crime doesn’t pay.


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    http://www.zerohedge.com/contributed...st-kleptocrats

    Last edited by Newmexican; 04-01-2014 at 11:19 AM. Reason: spacing
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    Moved to general Discussion. Affluent Chinese immigration to US. Paid admission

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    klep·toc·ra·cy (klĕp-tŏk′rə-sē)
    n. pl. klep·toc·ra·cies
    A government characterized by rampant greed and corruption.
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    all the Banksters and CORRUPT Politicians better take notes
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    The Chinese Are Acquiring Large Chunks Of Land In Communities All Over America

    Michael Snyder
    American Dream
    April 1, 2014

    Has the United States ever experienced a time when a foreign nation has attempted to buy up so much of our land all at once? As you will read about in this article, the Chinese are on a real estate buying spree all over America.

    Image: Chinese Flag (Wiki Commons).

    In fact, in some cases large chunks of land are actually being given to them. Yes, you read that correctly. China is on the way to becoming the dominant land owner in the entire country, and that is starting to alarm a lot of people. Do we really want a foreign superpower to physically own so much of our territory?
    There are some that are playing down this threat by making a distinction between the Chinese government and Chinese corporations, but things work differently over in China than they do here. In China, the government is involved in everything. In fact, 43 percent of all corporate profits in China are produced by companies that the Chinese government controls. And all of the rest of the companies are very careful to follow the lead and direction of the Chinese government.
    That is why what is going on in places such as Thomasville, Alabama is so alarming. Small communities such as Thomasville are so starved for jobs that they are willing to give land away for free to Chinese companies in order to entice them to build factories…
    Gov. Robert Bentley said Friday that he will announce an economic development project in Thomasville, Ala., Monday morning.
    That project is likely a copper tube plant to be built by Golden Dragon Precise Copper Tube Group. A legal notice published Thursday indicates that the city of Thomasville and others intend to give land and other incentives to GD Copper USA, which state corporation records identify as a Florida-based subsidiary of Golden Dragon.
    And in this particular case, we are not just talking about a small plot of land. We are talking about a 40 acre chunk of land worth 1.5 million dollars…
    The legal notice indicated the city plans to give Golden Dragon a 40-acre site. Thomasville Mayor Sheldon Day has said that land is in a city industrial park south of Thomasville High School. It includes a $1.5 million, 50,000-square-foot building that the city constructed in 2009 to attract businesses.
    But in most cases, the Chinese actually have to spend money to acquire our real estate. And they are starting to make some really high profile acquisitions in some of our most expensive cities…
    China Vanke and Tishman Speyer signed a deal for a $620 million luxury condo project in San Francisco this winter. In April, another deal for a cool $1.5 billion was inked in Oakland between Zarsion and Signature Development Group.
    In June, several big deals in New York City went down. Zhang Xin, CEO of Soho China , joined forces with the wealthy Safra family (of Banco Safra fame) of Brazil to buy a stake in the General Motors Building in Midtown, The New York Times reported on June 25. Dalian Wanda Group, another Chinese developer, is planning to build a greenfield luxury hotel in Manhattan.
    In other cases, the Chinese are gaining control over vast tracts of U.S. territory by buying up our large corporations.
    For example, when the Chinese purchased Smithfield Foods, they suddenly owned 460 large farms and became the top employer in dozens of communities all over the United States…
    Smithfield Foods is the largest pork producer and processor in the world. It has facilities in 26 U.S. states and it employs tens of thousands of Americans. It directly owns 460 farms and has contracts with approximately 2,100 others. But now a Chinese company has bought it for $4.7 billion, and that means that the Chinese will now be the most important employer in dozens of rural communities all over America.
    And the Chinese seem to have a particular interest in economically-depressed areas of the country. Perhaps they feel that now is the time to gobble up companies and properties in such areas for bargain-basement prices. For instance, the following is from a CNBC article that detailed how the Chinese are aggressively “putting down roots in Detroit”…
    Dozens of companies from China are putting down roots in Detroit, part of the country’s steady push into the American auto industry.
    Chinese-owned companies are investing in American businesses and new vehicle technology, selling everything from seat belts to shock absorbers in retail stores, and hiring experienced engineers and designers in an effort to soak up the talent and expertise of domestic automakers and their suppliers.
    Speaking of Michigan, one company known as “Sino-Michigan Properties LLC” actually had plans to buy up 200 acres of land near the town of Milan, Michigan. The goal was to build an entire “China City” with artificial lakes, a Chinese cultural center and hundreds of housing units for Chinese citizens.
    But that is nothing compared to the “China City” that was being planned for New York state. The following is a short excerpt from one of my previous articles
    The Chinese have made trillions of dollars flooding our shores with super cheap products, and now they are using some of that money to buy land and property all over America. For example, there is now a proposal to construct a multibillion dollar “China City” that would span approximately 600 acres in a remote area of New York state. This “China City” (that is actually what it would be called) would be located on Yankee Lake in Sullivan County, New York. The plans anticipate large numbers of Chinese businesses, plenty of homes for Chinese immigrants, a Chinese high school, a college, a casino and even a theme park. And the first 600 acres is only for “phase one” of the plan. Ultimately, the goal is for “China City” to cover more than 2,000 acres. Those promoting this plan say that it will be a great way for New Yorkers to learn to appreciate Chinese culture.
    But of much greater concern is the huge wave of real estate purchases that are quietly happening all around us every single day.
    The following is from a recent CNBC article entitled “Chinese buying up California housing“…
    At a brand new housing development in Irvine, Calif., some of America’s largest home builders are back at work after a crippling housing crash. Lennar, Pulte, K Hovnanian, Ryland to name a few. It’s a rebirth for U.S. construction, but the customers are largely Chinese.
    “They see the market here still has room for appreciation,” said Irvine-area real estate agent Kinney Yong, of RE/MAX Premier Realty. “What’s driving them over here is that they have this cash, and they want to park it somewhere or invest somewhere.”
    So what happens when we get to the point when the Chinese government and/or Chinese citizens own 10 percent of all the real estate in the entire country?
    Will it be a problem then?
    What about if we get to 20 percent or 30 percent?
    At what point will we be forced to admit that we have a major problem on our hands?
    Many of our leaders seem resigned to the fact that the future will be dominated by communist China.
    For example, the President of the St. Louis Federal Reserve recently stated that “attitudes in the U.S. are going to have to change” because America “will not permanently be the global leader”
    That’s according to Federal Reserve Board of St. Louis President James Bullard, who spoke to the Wall Street Journal on the sidelines of a conference during a recent visit to Hong Kong.
    Attitudes in the U.S. are going to have to change, because the U.S. will not permanently be the global leader,” Mr. Bullard said.
    In fact, Bullard insists that it is inevitable that the U.S. will end up playing second fiddle to communist China…
    In that case, “the U.S. would be playing a role to China similar to the role the U.K. plays to the U.S. today,” Mr. Bullard said. “People think it’s 50-75 years away but it’s probably only 25 or 20 years away, something like that.”
    And this is one of the guys that is running the U.S. economy?
    There is more than one way to dominate your enemy, and the Chinese understand this.
    Sadly, most Americans have absolutely no idea what is happening.
    What about you?
    What do you think about all this?

    Please feel free to share your opinion by posting a comment below…

    This article was posted: Tuesday, April 1, 2014 at 5:18 am

    Tags: foreign affairs


    http://www.infowars.com/the-chinese-...-over-america/
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    Conservative Daily

    IRS scandal? What IRS scandal?

    Yeah, have some pinocchios...



    IRS Head Nailed by WaPo's Pinocchio Guy for Playing Word Games on 'Targeting' Conservatives

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    OBAMA WARNED IN CONGRESS of AMERICAN'S RIGHT TO REVOLUTION for HIS DISREGARDING CONSTITUTION !!!

    https://www.youtube.com/watch?v=C8VHZNHUeb4
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    CHINA’S VERSION OF NIGHT OF THE LONG KNIVES

    Submitted by ilene on 04/06/2014 20:25 -0400

    CHINA’S OWN SPECIAL VERSION OF NIGHT OF THE LONG KNIVES

    By RUSS WINTER

    “Pursuing reform in the face of vested interests is akin to stirring the soul” – Li Keqiang, Premier of China

    “We must eliminate evil members of the herd.” — Xi Jinping, President of China
    Between June 30 and July 2 of 1934, the Nazis carried out a series of political murders in what was called the Night of the Long Knives. A version of this large-scale purge is underway in China right now, starting with this week’s trial of Liu Han. Liu is accused of murder, among other crimes, and of being part of a “Triad” gang along with 35 others.
    The trial and other investigations and arrests is being fully covered by the Chinese state media. This article from the English edition of the South China Morning Post lays out in strong language the case against Liu Han. President Xi Jinping’s crackdown is also being promoted through social media. It is effectively using tools like Weibo, China’s equivalent of Twitter, and WeChat to rally public opinion around the party’s anti-graft efforts.
    I will be writing more about China’s new leaders in WinterActionables in the near future. For now, it suffices to say that China’s new Premier Li Keqiang is as close to a choir boy as this system can muster. Xi himself has managed to avoid serious corruption claims in his career. Therefore, these new leaders apparently feel the time has come to lay out China’s dirty linen for all to see, especially that of political opponents and specifically the “Shanghai Gang.”
    I expect this will also involve the recovery or claw-backs of loot scammed from auntie’s wealth management products and seizures (as opposed to bailouts) as restitution of the ill-gotten gains of the kleptocrats — or at least those not well connected with the new Xi regime.
    Xi Jinping is also going to personally chair and oversee the shadow banking reform committee. Normally this is chaired by the Premier or a more junior official, so it seems a clear signal that Beijing intends to get its shadow bank lending under direct control. Li Keqiang, in a speech in March, indicated a willingness to allow “selective” corporate defaults, no doubt as an instrument to rein in state enterprises, control power, implement reform and settle scores. Unless it fits one of the four following categories, stimulus and bailouts would be small.
    - Building the social safety net
    - Environmental projects
    - Social housing, hospitals, schools, water treatment, urban public transport
    - Agricultural modernization
    The new leadership’s purge is largely directed at the power players called the Shanghai Gang. This is an element of Jiang Zemin’s old power base. Jiang was President of China between 1993 and 2003. Jiang, who is now 87 and was generally considered a stooge and flower pot even when in office, is almost begging for mercy now. Chinese social media, however, is relentless in calling for his head and the end to the Shanghai Gang. This report from China’s version of “alternative media” NTDTV.com is illustrative. It passes the censors mocking Zemin and accuses him of being involved in “live organ harvesting” and of “hanging out with Henry Kissinger.”
    Zhou Yongkang, corrupt Shanghai Gang Leader

    The Liu Han trial is the next salvo in the offensive that is really directed at the titular head of the highly corrupt Shanghai Gang, Zhou Yongkang. The Xi Jinping power structure emanates from a group called the “Chinese Youth League Gang.” Premier Li Keqiang headed the League from 1993 to 1998 and is drawing his associates into the power structure. This structure has been rapidly replacing the prior security and police forces with an aggressive anti-corruption cadre since coming to power in 2013. Li has urged auditors to be “brave in thoroughly probing violations [of the law].”

    Zhou Yongkang is now retired, primarily as the fallout from his association with now-jailed Bo Xilai. There are claims he didn’t go without a fight and tried to have Xi assassinated (several times) during the party Congress when the successor was being selected. From 2007 to 2012 Zhou headed the powerful Politics and Law Commission, which oversaw all courts and police forces in China. As such, he was in a position to cover up all kinds of kleptocrat criminality in China. He facilitated a “strike black” campaign in Chongqing with now-convicted ally, Bo Xilai. This was little more than Mafia-style shakedowns of private business people. Zhou was also one of only nine members on the Politburo Standing Committee.
    Zhou is under investigation and the net is closing rapidly. He is joining at least three of his former senior security officials, including two vice-ministers and the man who oversaw Beijing’s internal listening apparatus. A total of $14.6 billlion in assets have also been seized so far.
    It sounds like the “court of public opinion” has ruled. One of China’s main newspapers put it succinctly:

    But doubts about Zhou’s fate have now been dispelled by a recent flurry of uncensored news stories in the Chinese media that revealed shocking details of corruption involving Zhou’s family and former subordinates. It has been reported that the authorities recently searched the homes of Zhou’s two brothers. Though these stories have yet to implicate Zhou directly, it will only be a matter of time before the Chinese government officially charges him with corruption.
    “Whispered reports are even more lurid. Zhou is said to have plotted to murder his first wife, and there are rumours that at the height of last year’s scandal involving disgraced former Chongqing party boss Bo Xilai , he attempted to assassinate Xi in the leadership compound at Zhongnanhai.
    “Based on what the Chinese press has disclosed thus far, it is clear that the Zhou case will be the ugliest and most sensational scandal involving a senior party leader that the country has ever seen. It will make Bo, an ally of Zhou and a former Politburo member who was sentenced to life imprisonment for corruption, look like a petty thief.”
    Nationwide, hundreds of thousands of people must have been caught up in the dragnet, based on the 11,879 people investigated in Shanxi Province alone. The heads of Chengdu Bank and a local investment corporation have been detained. In his long career, Zhou has headed or helped promote all of China’s big oilfields – Daqing, Liaohe and Shengli — and the gasfields of Tarim and Sichuan basins. At least six senior executives at oil company CNPC, including Jiang Jiemin, former CNPC head and head of the state assets watchdog, have been detained since August 2013.
    Shen Dingcheng, the party chief and vice-president of PetroChina International, disappeared shortly before the Lunar New Year holiday, the China Business Journal reported, citing an anonymous source. The Journal also highlighted Shen’s links with three other former secretaries to Zhou and even described Shen as being part of a “gang of four” secretaries. The other former secretaries are ex-CNPC deputy general manager Li Hualin; former deputy Hainan; governor Ji Wenlin; and the former chairman of the Federation of Literary and Art Circles in Sichuan, Guo Yongxiang.
    Several members of Zhou’s former inner circle have also been rumored to be under investigation or have already been detained, including Sichuan officials Li Chuncheng and Li Chongxi.
    Although not yet put directly in the Night of the Long Knives list, there is enough of a purge of the military underway to keep those actors in line and wary. Xi compares it to going after tigers and flies. These are indeed scary times for the corrupt kleptocrats of China.

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