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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?


To: carranza2 who wrote (116121)2/3/2016 8:06:10 PM
From: Snowshoe  Read Replies (1) | Respond to of 217808
 
Dead whale washes up on Chinese beach...

Investors scared of China stock markets were lured by Ezubo Ponzi scheme
cnbc.com

Almost one million investors lose £5.3bn in massive China Ponzi Scheme
Police make 21 arrests as they bust one of the biggest financial frauds in the country’s history

telegraph.co.uk

By Neil Connor, Ailin Tang and agencies, Beijing

11:40AM GMT 01 Feb 2016

Authorities in China have arrested 21 people on suspicion of defrauding almost one million Chinese investors of 50bn yuan (£5.3 billion) after an online peer-to-peer lender turned out to be a giant Ponzi scheme, state media has alleged.

Police used two mechanical diggers for 20 hours to retrieve 1,200 account books that were buried six feet underground as part of the investigation into one of the biggest financial frauds in the country’s history, Xinhua state news agency said.

A total of 21 people were arrested at Ezubao, the company at the centre of the scam, which rose to become China's largest online financing platform in just 18 months.

The firm launched in July 2014 and attracted business by offering investors annual returns of between 9pc and 15pc, far higher than mainstream financial products.



To: carranza2 who wrote (116121)2/3/2016 8:57:12 PM
From: 2sigma  Respond to of 217808
 
C,

Concise brief summation!

How would that affect the Singapore (SGD) or the Hong Kong (HKD) dollar against the USD?

I hold all three.

Thanks.

2S



To: carranza2 who wrote (116121)2/4/2016 7:48:57 PM
From: TobagoJack  Respond to of 217808
 
re <<cash and gold>>, am there here

re <<NPLs. In China>>, think it is of no particular issue relative to a lot of issues, and nothing that cannot be fixed by sending gold to several X current cost, and if that does not work, then several 10X.

rmb can easily devalue by 50%, and if so, as much of what (metals, oil, gas, etc) china buys had already been re-priced to result in $500 billion annual savings, net net okay

let us see if by collective global cooperation we get to see planetary cash-free, galactic nirp, and universal helicopter money. am curious.

in the mean time, new year coming up, of the red fire monkey, i believe a supposedly dangerous year, and careful we must be ... just added protection