« previous next »
Pages: [1]   Go Down

Author Topic: China arrests 800 in yearlong underground banking crackdown  (Read 317 times)

0 Members and 1 Guest are viewing this topic.

Offline TomSea

  • Hero Member
  • *****
  • Posts: 40,432
  • Gender: Male
  • All deserve a trial if accused
China arrests 800 in yearlong underground banking crackdown
« on: February 28, 2017, 04:40:47 am »
Quote
China arrests 800 in yearlong underground banking crackdown
By Allen Cone   |   Feb. 27, 2017 at 11:58 AM

Feb. 27 (UPI) -- China, in an attempt to reduce money flowing out of its nation, arrested more than 800 people last year involved in unlicensed banking operations totaling $131 billion, the Ministry of Public Security announced.

The suspects were linked to 380 major cases related to unapproved financial institutions commonly used for money laundering, including gambling, drug trafficking and smuggling, the ministry announced Sunday.

Continued: http://www.upi.com/Top_News/World-News/2017/02/27/China-arrests-800-in-yearlong-underground-banking-crackdown/9151488211308/
Logged

Offline Frank Cannon

  • Hero Member
  • *****
  • Posts: 26,097
  • Gender: Male
Re: China arrests 800 in yearlong underground banking crackdown
« Reply #1 on: February 28, 2017, 04:59:00 am »
When the economy is teetering on the edge because of poor central planning, the Chinamen's first rule is to arrest bankers, kill them and then call the issue solved. This is becoming a regular occurrence anymore.

Logged

Offline Frank Cannon

  • Hero Member
  • *****
  • Posts: 26,097
  • Gender: Male
Re: China arrests 800 in yearlong underground banking crackdown
« Reply #2 on: February 28, 2017, 05:13:32 am »
Ah. Look here. China's debt bubble is getting massive. Time to sharpen the guillotines....

http://www.zerohedge.com/news/2017-02-27/half-all-global-debt-created-2005-was-china-here-are-implications
Logged
Pages: [1]   Go Up
« previous next »