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Corrupt Chinese Politicians are Buying Billions in U.S. Real Estate


By Call it Crazy   Follow   Tue, 22 Jan 2013, 11:17am PST   873 views   17 comments
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Many of us spent much of 2012 confused about how the U.S. real estate market was improving within the context of a broke and unemployed citizenry. Well as time has passed the answers to our questions have been revealed.

The criminals are piling in. I first explained a couple of weeks ago how the financial oligarchs in the United States are currently in a bidding war to become America’s slumlords in my post: America Meet Your New Slumlord: Wall Street.

Now we also discover that part of the bid to U.S. real estate has come from another criminal class. In this case, we are talking about corrupt Chinese officials who are pulling their ill gotten gains from their homeland and desperately placing it in real estate all over the globe.

In the United States, the National Association of Realtors said that more than $7 billion of properties had been bought by Chinese in the US last year. Some high-end homes are now specifically built for rich Chinese with ponds for koi carp and a second kitchen for pungent cooking.

http://libertyblitzkrieg.com/2013/01/22/chinese-criminals-are-buying-billions-in-u-s-real-estate/

Comments 1-17 of 17     Last »

bob2356   Tue, 22 Jan 2013, 12:18pm PST   Share   Quote   Permalink   Like   Dislike     Comment 1

Is there some kind of tin foil hat central exchange where all this stuff comes from? Wow, oh my god, a whole 7 billion dollars in a 928 billion dollar market. That's a whole .75% of the market. Talk about piling in. Be still my beating heart.

Curiosity overwhelms me, how do you and the libertyblitzkrieg know that this is all ill gotten gains? Did you realize there are successful Chinese business people who have money also?

APOCALYPSEFUCKisShostikovitch   Tue, 22 Jan 2013, 12:20pm PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 2

Wait until they open fire on the white people whose kids run across their yard.

bob2356   Tue, 22 Jan 2013, 12:25pm PST   Share   Quote   Permalink   Like   Dislike     Comment 3

APOCALYPSEFUCK is Shostakovich says

Wait until they open fire on the white people whose kids run across their yard.

Chinese criminals can get gun permits? How did this happen?

APOCALYPSEFUCKisShostikovitch   Tue, 22 Jan 2013, 12:32pm PST   Share   Quote   Permalink   Like   Dislike     Comment 4

Oh, yeah, and wait until they form militia. Yeah.

thomaswong.1986   Tue, 22 Jan 2013, 12:35pm PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 5

Call it Crazy says

ill gotten gains from their homeland and desperately placing it in real estate all over the globe.

i doubt they are gains of any kind, but out right embezzlement of govt and corporate funds and assets. Frankly, China doesnt have any matured self imposed or govt regulations and oversight. So if someone sees $1,000,000 USD sitting around.. they can snatch it because of lack of financial controls (checks and balances). If its missing one cant prove anything because of non-existant bookkeeping/accounting. This would be the ideal reason why many are walking past our borders with suitcases of cash. No more than smuggling. And of course where is it laundered ? The mafia or triads ...

Had this been some Colombians or Bolivians.. one would sniff coke all over the suitcases. "Hey buddy .. where you going with that.."

thomaswong.1986   Tue, 22 Jan 2013, 12:39pm PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 6

bob2356 says

Did you realize there are successful Chinese business people who have money also?

you do realize its almost impossible to smuggle out Yuan currency.. and how did they get USD greenback to luander within China... also illegal to possess. fake identification papers and passports...all illegal..

China's Great Swindle: How Public Officials Stole $120 Billion and Fled the Country
By Xin Haiguang / Economic Observer / Worldcrunch Sunday, June 26, 2011

Last week, the People's Bank of China published a report that looked at corruption monitoring and how corrupt officials transfer assets overseas. The report quotes statistics based on research by the Chinese Academy of Social Sciences: 18,000 Communist Party and government officials, public-security members, judicial cadres, agents of state institutions and senior-management individuals of state-owned enterprises have fled China since 1990. Also missing is about $120 billion.

swebb   Tue, 22 Jan 2013, 1:16pm PST   Share   Quote   Permalink   Like   Dislike     Comment 7

thomaswong.1986 says

Frankly, China doesnt have any matured self imposed or govt regulations and oversight.

Wait a minute -- aren't you the one who usually screams about how there is too much government oversight and regulation, and that it's part of the problem?

thomaswong.1986   Tue, 22 Jan 2013, 1:23pm PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 8

swebb says

Wait a minute -- aren't you the one who usually screams about how there is too much government oversight and regulation, and that it's part of the problem?

look at the results... but dont let me tell you about it.. ask the founder of Sun Micro Scott McNealy. In fact ask your current Gov as he brow beat our Cal gov Brown how easy it is to snatch and bring California business to Colorado.

Get out of California.

http://www.pressheretv.com/ep-137-advice-for-zuckerberg/

The internal control over financial statements and assets WERE NOT created by government .. but was created by its own industry.. Frankly it worked well.

http://en.wikipedia.org/wiki/Committee_of_Sponsoring_Organizations_of_the_Treadway_Commission

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is a joint initiative of five private sector organizations, established in the United States, dedicated to providing thought leadership to executive management and governance entities on critical aspects of organizational governance, business ethics, internal control, enterprise risk management, fraud, and financial reporting. COSO has established a common internal control model against which companies and organizations may assess their control systems. COSO is supported by five supporting organizations, including the Institute of Management Accountants (IMA), the American Accounting Association (AAA), the American Institute of Certified Public Accountants (AICPA), the Institute of Internal Auditors (IIA) and

B.A.C.A.H.   Tue, 22 Jan 2013, 2:01pm PST   Share   Quote   Permalink   Like   Dislike     Comment 9

thomas,

So what? Sticks and stones. Whether its corruption money or clean money, money is money and it keeps coming in propping up and inflating up the house prices in The Fortress.

bob2356   Tue, 22 Jan 2013, 3:54pm PST   Share   Quote   Permalink   Like   Dislike     Comment 10

thomaswong.1986 says

you do realize its almost impossible to smuggle out Yuan currency.. and how did they get USD greenback to luander within China... also illegal to possess. fake identification papers and passports...all illegal..

You really shouldn't mix narcotics, alcohol, and posting. WTF are you talking about? Businesses move millions of dollars in and out of China every day. Individuals aren't prohibited from transferring currency. If you can document it's from a legal source and you paid taxes on it you can move money out of China.

thomaswong.1986 says

18,000 Communist Party and government officials, public-security members, judicial cadres, agents of state institutions and senior-management individuals of state-owned enterprises have fled China since 1990. Also missing is about $120 billion.

Wow, oh my god. A whole 18,000 people in 23 years. That's a whopping 732 people a year out of a country of 1.3 billion. Well that certainly accounts for a large percentage of their civil servants I would think.

thomaswong.1986   Tue, 22 Jan 2013, 4:05pm PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 11

bob2356 says

A whole 18,000 people in 23 years

+ spouse, 2 kids, and their grand parents... and good knows who else..

oh yea.. fluffy.. the pet cat..

how many Colombians (coke smugglers) were buying up all of South Florida
back in the late 70s and early 90s...

local banks that carried 5M went to 25-30m in deposits... all coke money.

thomaswong.1986   Tue, 22 Jan 2013, 4:12pm PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 12

bob2356 says

Businesses move millions of dollars in and out of China every day. Individuals aren't prohibited from transferring currency. If you can document it's from a legal source and you paid taxes on it you can move money out of China.

laughable.. how the heck do you assume such nonsense... Neither individuals and corporations can just wire money .. smuggled yes! its well know who do business.

http://en.wikipedia.org/wiki/14K_Triad

"Since the crackdown in Macau, the 14K triad resurfaced in North American cities such as Los Angeles, San Francisco and Chicago in the United States and Vancouver, Calgary and Toronto, Canada, Sydney Australia, also the UK. In response to the massive publicity generated by Broken Tooth Koi, the 14K dramatically lowered its public profile. Meanwhile, loan sharking and money laundering continue to be the primary sources of revenue for the 14K in North America."

thomaswong.1986   Tue, 22 Jan 2013, 4:18pm PST   Share   Quote   Permalink   Like   Dislike     Comment 13

B.A.C.A.H. says

thomas,

So what? Sticks and stones. Whether its corruption money or clean money, money is money and it keeps coming in propping up and inflating up the house prices in The Fortress.

its always interesting how the reactions of some on Pnet is when we talk about...

Corporate money and smuggled foreign criminal money...

but all you get is Silence when it comes form overseas !!!!

It does also show the Realtors who salivate
of harpooning a Chinese Whale...

but all you get is Silence !!!!

the incorruptibly on Pnet are very corruptible after all..

PockyClipsNow   Wed, 23 Jan 2013, 8:06am PST   Share   Quote   Permalink   Like   Dislike     Comment 14

Luaghable. Extended forclosure timeframe from 12 months to what 3 years clearly had a far more massive effect on RE price than foreign buyers. Add in loan mods and principal forgiveness and we got prices going up fast!

thomaswong.1986   Wed, 23 Jan 2013, 9:00am PST   Share   Quote   Permalink   Like   Dislike     Comment 15

donjumpsuit says

This will force the Chinese to liquidate assets at half their value to US citizens and lower the over all wealth and access to capital in China.

sorry you cant just revalue the debt we owe them.

jvolstad   Wed, 23 Jan 2013, 11:06am PST   Share   Quote   Permalink   Like   Dislike     Comment 16

Wonder what the Corrupt Chinese Politicians think of our Corrupt Realtor's?

Entitlemented   Wed, 23 Jan 2013, 12:46pm PST   Share   Quote   Permalink   Like   Dislike     Comment 17

With Obama, the Prob(conscription) = Pcons, is looking high.

With the AF, Navy, and Marines at the smallest force in 50 years, and a fleet of 300 ships, Obama might have another social engineering job: Mandatory Mandarin Lessons.

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