Glen48
Money can't buy Poverty
- Joined
- 4 September 2008
- Posts
- 2,444
- Reactions
- 3
That’s not to denigrate the stunning achievement of so many people being lifted out of poverty. But why do you think so much Chinese money is flooding into Australia through the Significant Investor Visa program?
--Private Chinese citizens can legally only move US$50,000 per year outside the country, under capital control laws. But if you put $5 million into Australian government bonds, you can effectively buy Australian permanent residency. More than 95% of the participants in Australia’s ‘golden visa’ program are Chinese, according to a report in today’s Australian.
--There’s absolutely nothing wrong with a country making itself an attractive place for capital to flee to. But ask yourself why Chinese money is pouring into the country. The Australian reports that the Bank of China is actively and illegally laundering money for wealthy Chinese who wish to get it out of the country and into places like Melbourne and Sydney.
From Money Morning:
--Insiders or members of the Communist Party who see the writing on the wall with the end of the debt-fuelled fixed investment growth model have every incentive to take their private fortunes ”” ill-gotten or otherwise ”” and get them out of the country while the getting is good. Melbourne is the new Zurich and Sydney is the new Geneva.
Chinese are putting 22 Billion in to the USA housing market so it would be reasonable to assume it is happening all over the World.
The word is the Australia Property market will continue to rise and IR will stay low or go lower as the Feds do all to prop up the market.
I can not see any reason the DOW won't double as investor's pull their money out of Europe and other place with USA perceived to be the safest place to park their money and big companies split their share to enable MOm and Pop to buy in to the trap.
--Private Chinese citizens can legally only move US$50,000 per year outside the country, under capital control laws. But if you put $5 million into Australian government bonds, you can effectively buy Australian permanent residency. More than 95% of the participants in Australia’s ‘golden visa’ program are Chinese, according to a report in today’s Australian.
--There’s absolutely nothing wrong with a country making itself an attractive place for capital to flee to. But ask yourself why Chinese money is pouring into the country. The Australian reports that the Bank of China is actively and illegally laundering money for wealthy Chinese who wish to get it out of the country and into places like Melbourne and Sydney.
From Money Morning:
--Insiders or members of the Communist Party who see the writing on the wall with the end of the debt-fuelled fixed investment growth model have every incentive to take their private fortunes ”” ill-gotten or otherwise ”” and get them out of the country while the getting is good. Melbourne is the new Zurich and Sydney is the new Geneva.
Chinese are putting 22 Billion in to the USA housing market so it would be reasonable to assume it is happening all over the World.
The word is the Australia Property market will continue to rise and IR will stay low or go lower as the Feds do all to prop up the market.
I can not see any reason the DOW won't double as investor's pull their money out of Europe and other place with USA perceived to be the safest place to park their money and big companies split their share to enable MOm and Pop to buy in to the trap.