Fiat Money is just institutionalized scams, Part 2: Reinterpreting official narratives.

Fiat Money is just institutionalized scams, Part 2: Reinterpreting official narratives.

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No.20x).

#fiat money, #free health care, #money for everyone, #quantitative easing, #monetary tightening,

Fiat money is just “Coupons for paying taxes and receive goverment’s goods and service”.

1. Fiat money of any nation is just only its coupons:

Former USSR, Eastern European Communist Countries were with a system of fiat money not unlike current USA is. Everyone has his coupons but goverment stores may not be able to supply the needed goods.

With enough reckless printing, “easy to print coupons” may become not appreciated by its citizens and that is when we say hyper-inflation occurs to that fiat money.

There is NO MAGIC in wealth creation with printing fiat money.

2. Printing more coupons as an election promise:

Gullible voters still believe that government has the Wealth Creation MAGIC and can distribute that wealth using its printed coupons.

Logics and the inevitable wake up from the cruel policies in former communist states have shown that no such magic had existed yet voter fools still believe in such magic upon which election candidtes made their promises,

Election candidates should not be allowed to say that “my elected government will provide free health care, will give citizen payments for doing nothing”. The promises are not feasible (It is impossible to provide all citizens with service totalling to more than the works supplied the nation plus its imported services).

Rather election candidates should be required to say only what they can actually do such as “my elected government will freely distribute coupons for use at health care centers. Even for people doing nothing they will still get coupons“. Whether the coupons can bring in the promises is quite another matter.

3. Federal Reserve Bank policies reinterpreted:

2a/- As coupons can be printed at will, holders of coupons batter spend them before the market get flooded with new coupons from any “Quantitative Easing“.

2b/-With the current economic setting giving 100% tax deduction on all interest payments on business loans, everyone has to borrow to be competitive.

The FRB can jack up interest rates (Monetary tightening) to give bigger shares of profit to lenders of coupons (fiat money), or to next tier of lenders (non-central banks) who issue notes promissing to give coupons to the first 10% of these notes presented (brought back) to them (the next 90% will get NOTHING from the issuers but may get something in consolation from the government who issued licenses to these non-central banks).

References:

[1]. Your fiat money (Part 2), https://survivaltricks.wordpress.com/2017/01/12/your-fiat-money-part-2/.

[2]. https://survivaltricks.wordpress.com/2019/04/28/fiat-money-is-just-institutionalized-scams/

[3]. https://survivaltricks.wordpress.com/2017/03/01/qe-may-be-another-scam-to-steal-national-wealth/

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The Futures and Derivatives Markets, Part 2: Rigging the indices to win.

The Futures and Derivatives Markets, Part 2: Rigging the indices to win

by tonytran2015 (Melbourne, Australia).

Crlick here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No.20x).

#futures market, #index, #rigging,

This blog post is designed to explain the method of manipulations of those markets. The blog does NOT advise anyone to enter those high risk markets.

The future and derivative markets are usually rigged and manipulated by “investment institutions”, genuine users of those future index contracts for hedging are actual losers.

1. “Investment institutions” have all the advantage:

1a/- Ability to move the indices at decision (score setting) time.

“Investment funds” manage the investment portfolios of their wealthy clients. In those contracts of management they are allowed to borrow from their clients the shares or the contracts of delivery of commodities. So they can borrow from their.clients massive amounts of shares or contracts of delivery of commodities to flood the markets, which are not liquid, with sell orders in the final minute leading to decision time to drive the relevant indices down.

On the other hand, *investment funds” can also borrow massive amounts money from the “cash management accounts” of their clients. So they can borrow money from their.clients to flood the markets, which are not liquid, with buy orders in the final minute leading to decision time to drive the relevant indices up.

“Investment funds” and “hedge funds” thus have the ability to drive some indices up or down by flooding the non-liquid markets in their final minutes leading to decision (score setting) times. The computers of the markets may even get overloaded by such flooding.

Obviously, although they can move their chosen indices, they have brokerage fees and interest payments as their costs.

1b/- Ability to bet large amounts of money using margin loans from the “league of investment funds”.

With such loans, a bet player allows his creditor to close off all his bettings if the index moves against him and he cannot provide more money to hold on with his betting position.

“Investment funds” use their available credits from margin loans to bet for winning ten times the costs of moving the relevant indices. They become counter-parties for genuine “hedge users”.

1c/- Winning bets by moving the indices.

Most of the times, “investment funds” sell down or buy up the commodities or shares prices effecting those indices for betting to make themselves winning their bets on each score setting day.

2. Illustrative example 1:

Suppose that current gold price is $1000/ounce. A gold producer wants to produce 1000,000oz of gold at that price in one year time. So if gold price goes up $1/ounce on that date, the producer will win additional $1M and similarly will lose for the other direction. To stabilize its finance the company would enter bets that makes it win $1M for every $1/oz fall in gold price and lose $1 Million for every rise of $1/oz in Gold price (“going SHORT” on gold price”).
. The gold producer is the genuine hedge user. An “investment fund” took the bet and became its counter party.

At the end of the period, the gold producers have 1M oz of gold to sell on the market. Suppose that its sales during that month are only around $950/oz. It got $50M less than required. An honest gold index would be 950 and its counter party has to hand it $50M. However, the counter-party is an investment fund and on the score setting day, the fund can easily move the index to $990/oz and have to give to the gold miner only $10M, rather than $50M.

So the “investment fund” has ripped off $40M from the gold producer.

It is also possible that some big seller may decide to take advantage of flooding purchase orders from the investment fund at the last minute to sell all his gold at $990/oz

It is possible that some big seller may also use the same trick of selling at the last minute to sell all his gold at $990/oz. In this case the investment fund may lose big amounts and go bankrupt. A financial melt down may then follow. The government would hastily jump in using tax payers’ money to rescue the investment fund.

3. Example of unintended consequences:

Flooding the market with orders at the last minute to move an index sometimes causes unintended serious consequences.

It is most dreadful when the market is flooded with sell orders of shares of banks and financial institutions with non-transparent periodic reports. Automatic sell orders by large holders of those shares may get triggered and these “sell at market price” orders may join the selling flood, causing a meltdown of financial stocks on the market. Those going short on those stock may win big amount but the market enters an official crash!

References.

Tuesday’s announcement by the Department of Justice of a guilty plea by a former trader of JPMorgan for systemic “spoofing” and price manipulation of gold, silver, platinum and palladium traded on the COMEX and NYMEX futures exchanges (owned by the CME Group) sure seemed like a very big deal …. The infractions occurred from 2009 to 2015 and the trader admitted to engaging in a conspiracy to commit market manipulation on hundreds of occasions, with the knowledge and consent of his immediate supervisors. [1, 2]

[1]. http://silverseek.com/commentary/crack-dike-17474

[2]. https://socioecohistory.wordpress.com/2018/11/10/a-crack-in-the-gold-silver-manipulation-dike/

[3]. https://www.zerohedge.com/news/2018-11-06/jpmorgan-gold-spoofer-admits-manipulating-precious-metals-markets-years

“If this has occurred recurrently, it is a BIG story because it suggests systematic favoritism,”

[4]. https://nypost.com/2018/12/07/nyse-is-freaking-out-looking-for-leakers-after-post-expose/

[5]. https://socioecohistory.wordpress.com/2019/02/15/deutsche-bank-to-pay-c5-5-million-to-settle-canadian-gold-and-silver-market-rigging-cases/

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Can most pension funds last?, posted on December 10, 2016

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PREVIOUS MONEY Blogs

Your fiat money (Part 2), Your fiat money, Bankers given outrageous incomes by their boards, Signs pointing to an impending crash for small investors, Bankers earn more than interest margin on secured loans.

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Fiat Money is just institutionalized scams

Fiat Money is just institutionalized scams.

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No.20x).

Fiat money is just “Coupons for paying taxes and receive goverment’s goods and service”. Calling it money is just an attempt by issuers to confuse it with real moneys (like gold or food). Fiat money should not be viewed as any kind of exchangeable natural valuables but as only coupons (with various half-lives) issued by each nation to its citizens to pay to that nation its taxes, services, and state supplied goods.

Once a nation (the taxing authority) ceases to exist, so do its coupons and its fiat money!

Former USSR, Eastern European Communist Countries were with a system of fiat money not unlike current USA is.

With enough reckless printing, “easy to print coupons” may become not appreciated by its citizens and that is when we say hyper-inflation occurs to that fiat money.

There is NO MAGIC in wealth creation with printing fiat money.

Reference:

[1]. Your fiat money (Part 2), https://survivaltricks.wordpress.com/2017/01/12/your-fiat-money-part-2/.

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Negative interest rate is not new, posted December 4 2016,

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Cashless and negative interest go hand in hand, posted December 10, 2016

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Your fiat money (Part 2), Your fiat money, Bankers given outrageous incomes by their boards, Signs pointing to an impending crash for small investors, Bankers earn more than interest margin on secured loans.

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Former multi-millionaire to go on hunger strike and live on streets in bid to keep home

from dailyrecords:

Former multi-millionaire to go on hunger strike and live on streets in bid to keep home, https://www.dailyrecord.co.uk/news/scottish-news/bankrupt-businessman-go-hunger-strike-14115600

#banking,

Comment by tonytran2015:
The Royal Commision for Inquiry into Banking in Australia (2018) has revealed such entrapping practice. Many Australian farmers have lost their businesses to associates of their bankers through such entrapping.

, posted on 07 May 2017 ,

How the Bitcoin Bubble Burst Could Lead to a New Golden Era

Source: https://lawrieongold.com/2018/11/30/how-the-bitcoin-bubble-burst-could-lead-to-a-new-golden-era/

#cryptocurrency mania,

Comment by tonytran2015:

It has been predicted to follow this path. There is no difference between a cryptocurrency mania and a tulips mania.

https://survivaltricks.wordpress.com/2018/01/24/bitcoins-tulips-sparkling-diamonds-fiat-moneys-and-gold/

lawrieongold

by: Stefan Gleason*

One of the greatest asset bubbles of all time appears to have just burst.

It’s not the stock market. Despite recent downside volatility amidst bubble-like valuations, so far stocks have merely entered a correction.

Cryptocurrencies, on the other hand, have entered into a full-blown meltdown. Bitcoin will go down in history for its extraordinary rise from zero to a high of $19,783 on December 17, 2017. Its subsequent fall may be one for the history books as well.

Bitcoin Chart - November 11, 2018

In the second half of November, Bitcoin prices fell through a months-long trading range, triggering heavy selling down to around $3,500. Anyone unfortunate enough to buy Bitcoin at over $19,000 now faces a loss of more than 80%. Losses are also staggering for Bitcoin Cash, Ethereum, Ripple, and many others.

The story of digital currencies won’t just be a matter of their rise and fall, however. Some may bounce…

View original post 863 more words

The Futures and Derivatives Markets (Part 1).

The Futures and Derivatives Markets (Part 1).

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No.20x).

#futures market, #index, #go long, #go short,

This blog post is designed to explain the working of the futures markets so that investors can see through the manipulations of those markets. The blog does NOT advise anyone to enter those high risk markets.

1. The original useful roles of futures markets.

There are many futures markets. The main ones are listed in the following:

1a. Gold Futures (Gold futures for various delivery times)

Gold Futures are for gold smiths and jewelers.

Jewellery makers love to receive contracts to supply jewelleries in advance to smooth out their production. Unless the customers provide raw gold or agree to pay at whatever unknown future market price no contract can be made. This rarely happens. So to get binding contracts, they have to know the price of gold few months or few years ahead, for the time they will start their machining process but knowing the future is impossible.

So a jeweller has to peg his contract price for those items to be supplied on a future date on whatever guesses given by the “Gold Future Markets”. When his contract to supply is binding he simultaneously enter into contracts with some counter-parties to get a payout to compensate for any unexpected rise from that agreed price of raw gold. On the other hand, if gold price falls on that date, he will have to pay out to his counter-parties. In this way he get a fix profit from his contract, irrespective of any fluctuation of gold price.

The same principle applies to gold producers or even national treasurers. For example, during the Asian Financial Crisis (triggered by some billionaire G.S. ‘s attack on Thai’s baht) the treasurer of Korea had to sell Korean gold to repay Korean debts. Whenever there is a due payment by Korea, the price of gold dropped from its othrwise constant value of USD273/oz.

To avoid having to sell gold at the artificial, unfair dips on the due dates, a gold producer (or even the treasurer of Korea) would have to enter into “Gold Future Contracts” (“going short”) with counter-parties to get a payout to compensate for any unexpected fall from that agreed price. On the other hand, if gold price rises on that date, he will have to pay out to his counter-parties. In this way he get a fix price from his contract, irrespective of any fluctuation of gold price.

1b. Metal Futures (Copper futures, Nickel futures, Iron futures).

Metal Futures (Copper futures, Nickel futures, Steel futures) are for consumers and producers of metals.

The same principles also apply to consumers and producers of other metals such as copper, steel, lead, zinc, tin, nickel, chrome, etc…

1c. Food Staples Futures (Soybean futures, Rice futures).

Food Staples Futures (Soybean futures, Rice futures) are for food processors and producers.

1d. Currency futures.

Currency futures are for importers and exporters.

1e. Shares-market-index futures.

Shares-market-index futures are for investment managers of superannuation and pension funds who have holding spread out on many companies and want to instantly peg their buying or selling prices at some fix level.

1f. Rain-fall futures.
Rain-fall futures are for farmers whose incomes and expenses vary widely with rain-falls.

Farmers have to buy water transported by tankers if there is no rain. They would be happy to pay a fix amount to a counter-party whether it rains or not. They will use the payout from the counter-party to buy water.

2. Method of betting on an index.

Players buy units of betting. For example, one unit of betting on the SPI Share Market Index may make a gain or loss of $US 20 for each point of the index in favor or against the player.

The deciding moment may be closing time (4:00pm) of the last trading Friday of the month.

For example, let the betting be $20 per unit and let the current date be 2018 November 13, the Current value of a chosen index on the market is 5950, the current estimate for that index on Friday 30th Nov 2018 may be 6010 as given out by some “betting house”.

A player L may buy one unit of betting on LONG. At (4:00pm) of Friday 30th Nov 2018 if that index is 6020, he wins 6020 – 6010 = 10 units and will be paid $20*10 = $200. At (4:00pm) of Friday 30th Nov 2018 if that index is 5090, he loses 6010 – 5090 = 20 units and will be have to lose $20*20 = $400.

On the other hand, a player S may buy one unit of betting on SHORT. At (4:00pm) of Friday 30th Nov 2018 if that index is 6020, he loses 6020 – 6010 = 10 units and will have to pay $20*10 = $200. At (4:00pm) of Friday 30th Nov 2018 if that index is 5090, he wins 6010 – 5090 = 20 units and will be paid $20*20 = $400.

So a player may win or lose if his guess is better or worse than that offered by the “betting house”.

3. Using index betting for a large investment.

An investor has at hand $100,000 and will spread his total investment of $1000,000 over the whole 200 largest companies of the share markets.

He knows the dip of the index is the best time to buy all stocks but buying is a time consuming process and the dip may not last that long.

Suppose that the current index of the market is nearly 6000. His $1M investment will go up and down with the market according to the index. Suppose that the index is up by 1 unit, his investment will go up by $(1/6000)*1M=$166. So he will need a rough value of $166/$20 = 8.3 units of betting.

His strategy will be to buy 8 units of betting on LONG at the dip of the market, then takes time to buy into individual company without any need for further timing. Any increase or decrease in those 200 company share prices is roughly compensated by the gain or loss on the betting on the index.

to be continued

References.

Tuesday’s announcement by the Department of Justice of a guilty plea by a former trader of JPMorgan for systemic “spoofing” and price manipulation of gold, silver, platinum and palladium traded on the COMEX and NYMEX futures exchanges (owned by the CME Group) sure seemed like a very big deal …. The infractions occurred from 2009 to 2015 and the trader admitted to engaging in a conspiracy to commit market manipulation on hundreds of occasions, with the knowledge and consent of his immediate supervisors. [1, 2]

[1]. http://silverseek.com/commentary/crack-dike-17474

[2]. https://socioecohistory.wordpress.com/2018/11/10/a-crack-in-the-gold-silver-manipulation-dike/

[3]. https://www.zerohedge.com/news/2018-11-06/jpmorgan-gold-spoofer-admits-manipulating-precious-metals-markets-years

Added after 2018 Dec 09:

“If this has occurred recurrently, it is a BIG story because it suggests systematic favoritism,”

[4]. https://nypost.com/2018/12/07/nyse-is-freaking-out-looking-for-leakers-after-post-expose/

Added after 2019 Feb 15:

[5]. https://socioecohistory.wordpress.com/2019/02/15/deutsche-bank-to-pay-c5-5-million-to-settle-canadian-gold-and-silver-market-rigging-cases/

RELEVANT MONEY Blogs

Can most pension funds last?, posted on December 10, 2016

crystal ball

Signs pointing to an impending crash for small investors, posted on December 16, 2016

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Living with a probable bubble market posted on 11 August 2017

crystal ball 2

PREVIOUS MONEY Blogs

Your fiat money (Part 2), Your fiat money, Bankers given outrageous incomes by their boards, Signs pointing to an impending crash for small investors, Bankers earn more than interest margin on secured loans.

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The Parasites of Western Economy, Part 12: Local councilors and their self-granted benefits.

The Parasites of Western Economy, Part 12: Local councilors and their self-granted benefits.

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No. … ).

The Parasites of Western Economy, Part 12: Local councilors and their self-granted benefits.

#parasite, #local council, #oversea junket, #misspending, #budget over-run,

Advanced Western countries (US, UK, Canada, Australia, New Zealand and many EU countries) have multilayered governments. Governments at the lowest level in that hierarchy are the Local Governments. They are responsible with all matters not delegated to their higher governments.

Typical local governments (such as in Victoria, Australia) are called the Local Councils, they are responsible for the following matters:
Rubbish removal service, Local roads and parks maintenance, Running primary and secondary schools, library service, local hospitals.
They are expressly excluded in the following matters: Foreign Affairs, Defense, All matters delegated to Federal and State governments.

The systems in other advanced Western countries are similar.

Any government in the World obtains its money from taxes imposed on its citizens. However citizens have the herd mentality and are often unconcerned that their money may be in the wrong hands. This sets the scene for parasites to come in and suck the communal treasury. [1-12]

1. The runaway Local governments.

Local Councils are currently not audited and their spending are open to abuse. The budget of any Council can be easily siphoned by:

1a- Excessive costs of “external consultancy” on projects. Councilor candidates should have declared their expertise on projects promised to constituents before standing as candidates for elected offices and external consultancy should not be but have been used as a shield to hide incompetence of elected representatives. [13-21]

1b- Unnecessary expensive costs granted by Councilors to themselves for oversea “study trips” (Councilors should have learned about the costs of their promises before standing as candidates for election). Councilors love going on oversea study trips. Those oversea study trips if necessary should have been delegated to professional specialist employees of Council. [22-32]

1d- Non-transparent tendering on approved project.

1e- Unacceptable accounting method lumping significant costs under the headings “others” to hide specific spending items from tax payers. (The heading “others” in any accounting report should only be used just to avoid its overcrowding, by reducing any of its long lists of competing significant items to less than 10 items long).

2. Reform to Local Government are needed.

Residents have cried out for reform to local governments. The following points should be addressed by any reform:

2a. Taxes (also called rates) by local government should be based on service provided. Currently the collection of Council taxes (also called rates) is capped by a percentage on the values of property (land and houses).

2b- Councils are responsible for the following core activities:

Rubbish removal service, Local roads and parks maintenance, Primary and secondary schools, library service, local health offices.[33]

2c- Each Local Council must have functioning information office at town hall and website for residents to follow its activities and register their objections to its actions.

2d. Issues affecting residents significantly (including major and costly projects) must be made public for significant time through Council information office and website.

2e- Councilors must vote in public by show of hands in meeting at their respective town halls on issues affecting residents significantly (including major projects) but the latter have to be made public. Such decisions should be made subjected to revocation by more than 50% of voting residents registering objection by internet within 4 weeks. [34]

2f- Councils can only have recurrent budget items covering the salaries and expenses on their core activity categories specified in 2b.

2g- Any intended spending on all other activities must be publicized, discussed and approved in public meetings as specified by 2e.

Study costs, especially oversea trips for Councilors (who should have learned about their policy promises before standing up for election) should be banned as elected office holders should not be able to grant “benefits” to themselves. [35-36]

2h- Project spending should be carried out with transparent public tenders.

2i- Councilor candidates must declare their expertise on projects promised to constituents before standing for elected office and external consultancy costs to Council on those promises must be revealed.

As a consequence, a candidate would have to say:

If elected I will pay $1M dollars to get a consultant to give us the price to build a Taj Mahal for the Town Hall

instead of

If elected I will spend $10M dollars to build a Taj Mahal for the Town Hall.

2j- Records of all previous election promises at all elections of each councilor candidate must be declared.

2k- A higher government (such as State government in Australia) should audit Council Budgets annually. This audit should reveal activities which are inefficient or are outside the authorized responsibilities of Councils.

3. Examples of run-away Councils.

3a- Councils now have little idea on how to do its core business of garbage collection and dealing with recyclable wastes. [37]

3b- A local council spend money to promote LGBT in the referendum. This is a human rights issue which is for the Federal government to solve.[38]

The ratepayers of Moreland will be astonished to learn that the council is considering spending their hard-earned dollars in support of Russian punk protest band Pussy Riot. This is a human rights issue which is for the Federal government to solve.[39]

3c- Council of Marybyrnong keep the expensive practice of replanting kerbside trees every few years near its Footscray Library.

3d- Council of Brimsbank spent large amount of money to erect a temporary luxury huts promoting “green houses” on Hampshire Road in August-September 2018.

3e- Bayside Council runs its own bus services. [40-41]

3f- Councils running City sisterhood with oversea cities.[42]

Fortunately, the NSW government will crack down on council travel junkets. Under the overhaul, councils will have to disclose what is spent on sister city trips

4. Conclusions.

4a- Reforms to Local Governments are urgently needed.

4b- Every citizen has to be vigilant and report to the higher, supervising Government any cheating he can see at Local Government level. Only by doing so he can avoid being turned into a tax-donkey provider for those cheats. Citizenry must also actively participate in politics to prevent corrupt politicians from turning local tax (also called rate) money into honey pots for themselves and Councilor Offices as their incubator. First hand contact with them will show you their unbounded greed and their contempt for tax payers.

References:

[1]. Investigation into the alleged improper conduct of councillors at Brimbank City Council, https://www.ombudsman.vic.gov.au/Publications/Parliamentary-Reports/Investigation-into-the-alleged-improper-conduct-of

[2]. http://www.abc.net.au/news/2008-02-27/council-sacked-over-cost-blow-out/1055950

[3]. Council spending: Staff wages blow out council spending costs …, Sunday Herald Sun. May 12, 2018 9:00pm, https://www.heraldsun.com.au/news/victoria/staff-costs-blow-out-by-500m-and-take-bigger-share-of-councils-spending/news-story/911e5c5c1c363fc569b48538deb79cc7

[4]. https://geelongindy.com.au/news/26-10-2018/bureaucratic-cost-blowout-threatens-chilwell-ps-project/

[5]. https://www.perthnow.com.au/news/fremantle/fremantle-artwork-removal-costs-blow-out-tenfold-ng-b88931008z

[6]. https://m.northernstar.com.au/news/sculpture-blowout-to-cost-council/2318559/

[7]. https://www.goldcoastbulletin.com.au/news/gold-coast/gold-coast-city-council-coast-blowout-blamed-for-delay-in-nerang-park-light-installation/news-story/f955e31259a126d73b952e4658c49855

[8]. https://www.heraldsun.com.au/leader/north/darebin-council-projects-delayed-with-2m-cost-blowout/news-story/6b48ccde5f0ae2abb93f21c086d1df8f

[9]. https://i.stuff.co.nz/the-press/news/104219388/council-tried-to-keep-multimilliondollar-christchurch-town-hall-budget-blowout-quiet

[10]. https://www.radionz.co.nz/national/programmes/checkpoint/audio/201861321/auckland-council-criticised-from-within-over-budget-blowout

[11]. https://www.zdnet.com/article/brisbane-lord-mayor-blasts-technologyone-for-au60m-contract-blowout/

[11b]. https://www.smh.com.au/technology/brisbane-city-council-it-contract-faces-potential-60-million-blowout-20170125-gtygbh.html

[11c]. https://www.cio.com.au/article/613210/brisbane-city-council-tech-project-faces-possible-60m-blow-out/

[11d]. https://www.heraldsun.com.au/leader/news/what-melbourne-councillors-claim-as-expenses-funded-by-ratepayers/news-story/4c1fc9a3f4611f7d9e969ec0694ae4d6
[12]. https://www.heraldsun.com.au/leader/north-west/maribyrnong-councillor-sarah-carter-spends-100-a-week-on-phone-bill/news-story/e1313c18dc6f1746dd6ec42db658abf7
[13]. https://www.smh.com.au/national/nsw/government-spending-on-consultants-blows-out-by-250m-auditor-20171222-h09bso.html

[14]. https://www.thesun.co.uk/news/4874478/cornish-council-75000-poldark-pasties/

[15]. https://www.consultancy.uk/news/13514/st-albans-council-spends-12-million-on-consultants

[16]. http://www.dailymail.co.uk/news/article-1210682/Haringey-council-spent-24m-consultants-failing-save-Baby-P.html

[17]. https://thestandard.org.nz/auckland-council-it-blowout-guest-post/

[18]. https://i.stuff.co.nz/the-press/news/97201238/consultant-costs-drive-34-million-christchurch-city-council-overspend-on-personnel

[19]. https://i.stuff.co.nz/business/104922841/Govt-blames-public-servant-cap-for-blowout-in-consultant-costs-to-550m-a-year

[20]. https://www.news.com.au/national/victoria/8300-research-trip-for-arch-called-the-springvale-asian-gateway/news-story/513d52517dc3ea8a1d734e8e9e553fe5

[21]. https://www.theage.com.au/national/victoria/melbourne-city-council-budget-2017-spending-rates-bonanza-replacing-roads-with-parks-and-malls-20170504-gvyl0u.html

[22]. https://vexnews.wordpress.com/2009/03/12/no-comment-melbourne-greedy-greens-party-councillor-stonewalls-over-junkets/

[23]. https://www.heraldsun.com.au/ipad/we-pay-for-more-than-1-million-council-junkets/news-story/4cbbaf2652d30269bcc1c2267ec7bfe8

[24]. https://www.bordermail.com.au/story/5234712/mayor-wants-permit-to-fly-on-asia-junket-to-help-create-jobs/

[25]. https://www.theherald.com.au/story/5552345/debate-over-lake-councils-35000-international-study-tour/

[26]. https://www.smh.com.au/national/no-junkets-lord-mayor-packs-his-bags-for-trips-20091102-htgu.html

[27]. https://www.thechronicle.com.au/news/council-should-consider-taking-taxpayers-japan-tri/3148138/

[28]. https://www.thechronicle.com.au/news/council-reveals-destination-fifth-overseas-trip/3175149/

[29]. Council defends overseas ‘junkets’
http://www.pressreader.com/australia/the-chronicle8992/20140212/281908771038726

[30]. https://www.couriermail.com.au/queensland-ratepayers-forking-out-for-councillors-global-junkets/news-story/f4a4782b76dba20228631b433a8b02ea

[31]. VICTORIAN councils are splashing ratepayers’ money on overseas “junkets” instead of focusing on local issues, https://www.heraldsun.com.au/news/victoria/melbourne-councils-under-fire-for-asia-junket-spending/news-story/bc7ec9b5b63991dc43f1cc09a0bcdd44

[32]. https://fremantlereform.com/council-cof/cost-of-fremantle-mayors-rate-payer-funded-junket-doubles/

[33]. http://www.abc.net.au/news/2018-04-19/queensland-council-recycling-dump-to-start-nationwide-reaction/9673370

[34]. https://www.theage.com.au/national/victoria/melbournes-most-secretive-council-under-fire-20160622-gpp36m.html

[35]. https://www.dailymail.co.uk/news/article-6172283/Council-Melbourne-staff-spent-330-000-taxpayer-funds-trips-year.html

[36]. https://www.bordermail.com.au/story/5234712/mayor-wants-permit-to-fly-on-asia-junket-to-help-create-jobs/

[37]. https://fremantlereform.com/council-cof/councils-costly-world-tour-for-rubbish-junkets-continues/

[38]. https://www.heraldsun.com.au/leader/north-west/marriage-equality-moreland-council-flies-rainbow-flag/news-story/334d4b8073f79d045a27ace7e93920e0

[39]. http://www.heraldsun.com.au/news/opinion/more-stupid-council-waste/news-story/620156e34af89e0299a6e8675cf35134

[40]. https://www.bayside.vic.gov.au/news/commuter-bus-trial

[41]. https://www.opendemocracy.net/neweconomics/why-has-the-government-just-banned-councils-from-running-their-own-buses/

[42]. https://www.dailytelegraph.com.au/news/nsw/nsw-councils-to-disclose-full-cost-of-sister-city-trips-in-travel-junket-crackdown/news-story/5e36c4d99a56f89c55d3672c190f7032

Added after 2019 Jan 21:

Council representatives do NOT want to represent constituents.

[44]. https://aceworldnews.wordpress.com/2019/01/26/harrow-flats-new-apartment-block-given-go-ahead-despite-locals-objections/

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The Parasites of Western Economy, Part 7: Providers of invented inefficient service from tax money.

The Parasites of Western Economy, Part 6B: Robbers of pension money in Australia.

The Parasites of Western Economy, Part 6: Robbers of pension money in Australia.

The Parasites of Western Economy, Part 5: Company Asset Strippers and Conspirators posted on 13 August 2017 ,

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The Parasites of Western Economy, Part 11: Vulture Funds

The Parasites of Western Economy, Part 11: Vulture Funds

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No. … ).

As the Central Banks of major countries sent interest rates to zero or even negative values, people in those countries had to take their retirement savings out of Government Bonds and they had been tempted into sending their money into the Stock Markets of their respective countries. The people are not verse in calculating return and risks so they may grab any “established names” on the Stock Exchange and pay outrageous prices for them only to find out that they had bought “Trojan horses”.

There are Vulture Funds who live off that ignorance and float the old loss making companies (called here Zombies companies) into the markets and do creative accounting tricks to hide the losses (for few years only). Those buying the Zombies at Initial Public Offer (IPO) usually lose most or significant parts of their money right after the contracts have been signed!

This blog reveals the tricks of selling Zombies on the Stock Exchanges.

#restructured company, #float, #zombie float, #zombie company, #IPO, #time-bomb loan

1. Outline of the tricks.

Company directors usually hide the assets from shareholders making them selling out their shares cheaply to vulture funds. Vulture funds then control those target companies, de-list them from the Stock Exchange, take away all profitable parts. Vulture funds then bind predatory, time-bomb loans to those target companies leaving them with just a bare chance of survival (even in the fairest weather) for the coming 3 years. Vulture funds then re-float target companies (already bound to time-bomb loans) by IPO’s on the Stock Markets as “revamped companies” but they are actually Zombie Companies.

The latter are financial traps for inexperienced Stock Markets investors. After 3 years, most Zombie companies would fail due to predatory loans from their own (Vulture Funds) floaters. As creditors, the Vulture Funds again would come in to take possession of most assets of Zombie Companies.

2. Details of the tricks.

1. A Vulture fund buys a long suffering loss making target company for next to nothing. It usually buys the target company when it goes into liquidation by insolvency.

2. Vulture fund sacks most low level employees. They would lose their job anyway by the liquidation. The company then ceases trading for few months.

3. The company books are then scanned for any realizable, significant assets for the Vulture fund to take.

4. Vulture fund draws up a predatory (lob-sided) management contract between the newly acquired target company with one of its subsidiary companies (a debt collecting company disguised as a management company). The management contract is an irrevocable, very expensive management for the target company. If the target company survive it has to pay very expensive management fees to the subsidiary of the Vulture fund.

(As management fees to another company at expensive rate are not classified as a debt, the restructured company is now debt free except for an expensive loan used as working capital. The irrevocable management contract just keeps sending money to the other company (debt collecting disguised as management company) whether the management is effective or not. The contract is effectively an obligatory debt repayment scheme but is OFF the BALANCE SHEET.)

5. Vulture fund provides a thin working capital to the acquired target company from an expensive, predatory, time-bomb loan from his other company (debt collecting disguised as management company). The loan is characterized by complex conditions such that prospective investors would not understand. The loan typically is locked in for decades and provides low interest for only 3 years, after that period interest rate will become exorbitant. This kind of loan is called time-bomb loan and is designed to bankrupt the target company.

6. New low level employees are hired and the target company with long established name re-open its doors for trading (in a way which is precarious but is hard to be noticed by prospective investors).

7. The company is then called “restructured” and floated on the Stock Exchange for naive, unwary investors to buy in.

8. The money from new investors helps paying back the loans from the Vulture fund and will make installments to pay the management fees (which are actually installments to pay off an additional debt to the schemer). (Most capital raised from the float of the zombie will be used to repay the loan for working capital and then sent to the “debt collecting disguised as management company” over the time.)

9. The target company usually go bankrupt after a short while of 3 years. The finance subsidiary of the Vulture fund that lend working capital to the target company then comes in as a creditor to claim most assets of the target company.

(The director of the zombie company is untouchable by any company law or security law as the management fault lies with the management company (outside his control) but he cannot revoke the management contract.)

3. Illustration by an every day example.

If someone got a wrecked car from a yard, refit it with an engine (on an expensive hire purchase plan from him) and sell it to you. Would you buy that car?

But why do you let your Pension Funds, Superannuation Funds buy the zombie companies on your behalf?

4. Well known Zombie floats.

Sears in USA is a typical case in USA. [3, 4]

The better known cases of zombie floats from the Australian Stock Exchange (ASX) are:

The Dick Smith Electronic Company (2015) [5, 6],

The Myers Company (2009) [7, 8].

The floating of the zombies does make the Stock Exchange look like an arena for rigged games where novice investors are ripped off by Vulture Funds.

5. Conclusions.

1. Investors should stay well clear of any “revamped company” floated by some Vulture Funds or Private Equities.

Investors have to check the trading records for the preceding three years of the floated company even if it is traded on the Stock Exchange.

A new float of an old company may be very risky as only the company name is established while the management and operation are totally untested. Investors are buying into only a dream, the dream may turn out to be a nightmare.

Any management contract of the floated company to any external company must be examined in details (How much fee per year, for how many year, whether it is revocable, what are the required termination conditions). The conditions are usually hard to obtained from any such prospectus. For this reason alone, any such float should be avoided.

Investors have to find out if the floater of the new float has a reputation in floating successful companies after claimed “restructuring”. Some floaters are known for only floating non-viable companies.

On the only basis of transparency, I would avoid any float of “restructured companies” [9, 10].

2. A reform on company laws is needed.

Vulture Funds should be regulated differently from other companies and banks. They should not be allowed to float company with locked in management contracts and with loans from their related companies.

References.

[1]. Avoid-buying-zombie-floats-on-the-stock-exchanges

[2]. The Parasites of Western Economy, Part 5: Company Asset Strippers and Conspirators

Vulture Fund kills Sears

[3]. https://riggedgame.blog/2018/10/17/sears-didnt-die-vulture-capitalists-killed-it/

[4]. https://m.huffpost.com/us/entry/us_5bc4b346e4b0bd9ed55c8a58?utm_source=nextdraft&utm_medium=email

[5]. dick smith blames-private-equity-owners-greed-for-collapse, http://mobile.abc.net.au/news/2016-01-06/dick-smith-blames-private-equity-owners-greed-for-collapse/7069604

[6]. dick-smith-class-action-ready-to-launch, au.wordpress.com/business/breaking-news/dick-smith-class-action-ready-to-launch/news

[7]. https://www.crikey.com.au/2010/03/18/myer-over-priced-as-shareholders-find-out-the-hard-way/

[8]. http://www.smh.com.au/business/lessons-from-the-myer-float-flop-20091102-ht8c.html

[9]. the-private-equity-giants-the-greek-target-and-a-trojan-horse, October 28, 2015

[10]. report-says-big-buyouts-are-likelier-to-default, date 05Nov2009

FINANCIERS ARE USUALLY PREDATORS

[11]. https://business.financialpost.com/pmn/business-pmn/us-charges-malaysian-financier-in-money-laundering-scheme

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The Parasites of Western Economy, Part 7: Providers of invented inefficient service from tax money.

The Parasites of Western Economy, Part 6B: Robbers of pension money in Australia.

The Parasites of Western Economy, Part 6: Robbers of pension money in Australia.

The Parasites of Western Economy, Part 5: Company Asset Strippers and Conspirators posted on 13 August 2017 ,

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Sears Didn’t ‘Die.’ Vulture Capitalists Killed It.

Sears is a prime example of how hedge funds and private equity companies take over retailers and gradually bleed them dry for their own benefit. By Robert Kuttner and cross-posted from Huffington Post

via RIGGED GAME, https://riggedgame.blog/2018/10/17/sears-didnt-die-vulture-capitalists-killed-it/

Comment by tonytran2015:

Company directors usually hide the assets from shareholders making them selling out their shares cheaply to vulture funds. Vulture funds then control those target companies, delist them from the Stock Exchange, take away all profitable parts. Vulture funds then make contract for predatory loans to those target companies giving them just a bare chance of survival in the fairest weather for about 3 years. Vulture funds then refloat target companies by IPO’s on the Stock Markets as “revamped companies” but they are actually Zombie Companies.

The latter are financial traps for inexperienced Stock Markets investors. After 3 years, most Zombie companies would fail due to predatory loans from their own (Vulture Funds) floaters. As creditors, the Vulture Funds again would come in to take possession of most assets of Zombie Companies.

Investors should stay well clear of any “revamped company” floated by some Vulture Funds or Private Equities.

Avoid-buying-zombie-floats-on-the-stock-exchanges

The Parasites of Western Economy, Part 5: Company Asset Strippers and Conspirators

The parasites of Western economy part 11: Vulture funds

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Trade war tactics, Part 8: Pressuring opponent until cracks appear to reveal weak points for attack.

Trade war tactics, Part 8: Pressuring opponent until cracks appear to reveal weak points for attack.

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No. 1xx).

The engagement in the trade war between two opponents will reveal some weakness in each of both opponents. Each will do its best to break the other’s strength through the discovered weak points.

Now USA has won the first round of its trade war against China but it has to discover and exploit the weak points of Chinese economy to successfully pursue that war. An analysis of this trade war is offered here following a summary of its time line.

#trade war, #weak point,

Trade war tactics, Part 8: Pressuring opponent until cracks appear to reveal weak points for attack.

1. Time line of current trade war.

2018 January 23:

30% tariff on solar panels (most of them are from China) reducing to 15% after four years. 20% tariff on washing machines for the first 1.2 million units imported during the year.

2018March 22:

President Trump relied on Section 301 of the Trade Act of 1974 to propose tariffs on additional 60 Billion worth of Chinese export (over 1,300 categories including aircraft parts, batteries, flat-panel televisions, medical devices, satellites, and various weapons) to USA as “a response to the unfair trade practices of China over the years“, including theft of U.S. intellectual property.

2018 March 30:

On Monday, Brussels launched a safeguard investigation into how it could combat surges of steel imports… from inflows of Japanese, Chinese, Turkish and Russian steel that would be diverted away from the U.S. [1]

2018 April 2:

China imposed tariffs on 128 products it imports from America: 25% on aluminum, airplanes, cars, pork, and soybeans, 15% on fruit, nuts, and steel piping.

2018 April 5:

Trump responded saying that he was considering another round of tariffs on an additional $100 billion of Chinese imports as Beijing retaliates. The next day the World Trade Organization received request from China for consultations on new U.S. tariffs

2018 June 15,

United States impose a 25% tariff on $50 billion of Chinese exports ( with “industrially significant technology”). $34 billion start July 6, with a further $16 billion to begin at a later date

2018 July 13:

“The S&P 500 on Friday hit a four-month high … the Nasdaq close at a record high. The S&P 500, Nasdaq and the Dow Jones Industrial Average were also tracking for their second straight week of gains.” [2]

2018 July 17:

“Since the White House announced the first tariffs — on washing machines and solar cells on Jan. 22 — the Shanghai Index of Chinese stocks is down nearly 20 percent, while the S&P 500 is off less than 1 percent… Since the end of March,..the yuan has slid nearly 7 percent, again demonstrating the impact the trade war…” [3]

As at 2018 July, America has been the winner in the current trade war.

2018 Sept 23:

USA imposed new 10% tariffs on $200 billion of Chinese goods, spanning thousands of products, including food seasonings, baseball gloves, network routers and industrial machinery parts.

China retaliated immediately with new taxes of 5% to 10% on $60 billion of US goods such as meat, chemicals, clothes and auto parts.

2018 October 03:

The trade war is accompanied by a war maneuvering in the South East Asian sea. Chinese Navy unsuccessfully tried to cause a collision at sea with USS Decatur. USS Decatur (DDG-73) is an Arleigh Burke-class destroyer in the United States Navy, of the same class as USS Fitzgerald (DDG-62) which collided with a Phillipine registered ship MV ACX Crystal near Tokyo around 2017 June 17; US Navy had also suffered another collision between USS McCain (DDG) and Liberian merchant ship on 2017 August 21 [3b].

2018 October 08:

China has lowered its required reserve ratios, meaning its banks run low on cash. The problem began some time 2 years ago, before the beginning of the current trade war [4,5]. China now directs its activities to domestic home construction market [6].

2018 October 03:

China Wants To End Trade War [7],

2018 October 11:

China needed to borrow money and launched debt offering [7b, 7c, 7d].

2. American economy is self-sufficient while Chinese economy is all relying on trades.

After the trade war and the take jobs home movement, US economy has become strongest in 40 years. China is not doing well with import and export restrictions by the US [8,9].

3. China is running out of financial liquidity.

That is a sign of over-investment on foreign-dependent economic activities that has been non-voluntarily throttled down.

4. American tariffs on Chinese steel, aluminum, washing machines and Chinese junks are effective.

Currently the US may consider that solar panels and washing machines should provide an opportunity for American manufacturing industry. The current tariff are designed to give American solar panel and washing machine makers a chance to establish themselves. Tariffs on other Chinese junks will guide American consumers toward the use of more durable, environment friendly goods.

5. Chinese tariff on American soybeans is ineffective

They cannot reduce the consumption by Chinese people. China needs cheap soybeans from the US more than the US needs to sell them to China.

Conservation requires an increase in soybean prices: rising demand for meat has driven soy production to nearly 10 times what it was 50 years ago. A full 80 percent of the world’s soybean crop is fed to livestock.[10]

Sixty percent of all soybeans grown worldwide are now exported to China, [11]

6. Chinese tariff on American LNG has been ineffective

It cannot reduce the consumption of US LNG. Rather Chinese purchasers of US LNG ship their cargo to Europe, swap for a non-US cargo and ship the latter to China to avoid any tariff. In this way Europe will consume US LNG while sending its purchased LNG to China.

7. Chinese tariffs on American luxury goods are ineffective

Chinese tariffs on American luxury goods like hand phones, designer hand bags, airplanes, cars, etc…[12] only turn them into items for “status symbol” and may ultimately promote their sale to Chinese super-rich people.

So ultimately Chinese tariffs give free promotion to American luxury goods.

8. Plotting new course for economic attack.

a- Boycotting marketers of environmentally unfriendly products.

The tariff on washing machines also put a brake on the wasteful short life cycle assigned by Americans on their washing machines. The Green and the conservation movement are now conspicuously absent in their protest against the wasteful American habits of retiring their washing machines early.

The rethink on this wasteful practice may also encourage a reduction of American thirst on Chinese throw away (short life) junks. Reduction on the consumption of short life junks may even activate some conservation laws requiring products to be environment friendly and wear resistant, properties Chinese junks don’t have.

b- Boycotting spying equipment marketers.

The rethink on electronic espionage also dampen enthusiasm for Chinese electronic equipment. [12b-12i]

c- Boycotting markets with non-reciprocal access.

Americans have to wake up to any unfair trade practice and uneven playing fields in trade. [13]

d- Growing maize instead of soybeans

This move protects the environment.

E15 petrol has 15% alcohol content which comes from maize. In this way soybean farmers are less effected by any fluctuation in the soybeans market, they can rotate crops and produce maize instead of soybeans. Hence farmers can demand substantially higher price for soybeans.

e- Establishing alternative competing foreign manufacturing bases

Trump’s government even call for manufacturers exporting to US to move out of China to avoid tariff. [14,14b]

9. Employing patriotism to support the trade war.

President Trump can ride on the patriotism wave for his economic war and direct consumers to consume goods from allies while skipping goods from potential adversaries. [15].

9. Conclusions

America is winning on most economic fronts. It should press on with this war to force China to live within the accepted rules of the international world.

With its stronger economic position, America can require China to rectify both its unfair trading policy and its policy of land grabbing from its weaker neighbors and trading counter-parties [16,17,18,19,20,21,22]. This will earn praise on America and may reverse the erosion of its international standing for the last 40 years.

References:

[1]. https://www.politico.eu/article/president-donald-trump-winning-the-trade-war-for-now-steel-aluminum-tariffs/

[2]. https://www.cnbc.com/2018/07/13/cramer-trump-winning-china-trade-war-and-the-stock-market-confirms-it.html

[3]. https://thehill.com/opinion/finance/397447-trump-is-winning-the-trade-war-because-china-has-more-to-lose

[3b]. http://mobile.abc.net.au/news/2018-10-03/south-china-sea-encounter-between-us-warship-and-chinese-vessel/10333096?pfmredir=sm

[4]. China moves to boost liquidity amid US trade war, 8 October 2018, https://www.bbc.com/news/business-45780726

[5]. Global banking watchdog warns over Chinese banks, 18 September 2016, https://www.bbc.com/news/business-37403363

[6]. https://johnib.wordpress.com/2018/10/10/chinas-helicopter-money-to-support-homes-and-apartments-expected-to-keep-social-stability/

[7]. China Wants To End Trade War But ‘U.S. Position Keeps Changing,’ Ambassador Says, October 3, 2018 6:17 PM ET, Steve Inskeep Twitter, https://www.npr.org/2018/10/03/654084691/china-wants-to-end-trade-war-but-u-s-position-keeps-changing-ambassador-says

[7b]. https://www.wsj.com/articles/china-aiming-to-borrow-as-cheaply-as-apple-and-microsoft-launches-u-s-dollar-debt-offering-1539231229

[7c]. https://thedefenstar.com/2018/10/12/disclose-all-chinese-dept-if-you-want-a-bailout-package-imf-to-pakistan/

[7d]. https://www.devdiscourse.com/Article/headlines/214110-imf-asks-for-absolute-transparency-of-debts-from-pakistan

[7e]. https://nation.com.pk/15-Oct-2018/pakistan-to-share-china-debt-details-with-us-before-imf

[7f]. https://thedefenstar.com/2018/10/15/pakistan-finally-agrees-to-share-chinese-debt-details-with-us-to-get-imf-loans-approved/

[8]. Trump’s trade war advantage: The US economy is ‘firing on all cylinders,’ says expert, https://www.cnbc.com/2018/08/13/us-china-trade-war-us-economy-gives-trump-an-advantage-expert-says.html

[9]. How a US-China trade war could hurt us all
Karishma Vaswani Asia business correspondent @BBCKarishma, https://www.bbc.com/news/business-44706880

[10]. Blinding consumers to the true cost of soy?, https://superforest.blog/2018/10/08/blinding-consumers-to-the-true-cost-of-soy/

[11]. https://us-issues.com/2018/10/02/china-in-water-crisis/

[12]. https://wentworthreport.com/2018/07/02/the-china-trade/

[12b]. https://www.darkreading.com/attacks-breaches/chinese-intelligence-officer-under-arrest-for-trade-secret-theft/d/d-id/1333025

[12c]. Personnel on US military bases can no longer buy phones and other gear manufactured by Chinese firms Huawei and ZTE, after the Pentagon said the devices pose an “unacceptable” security risk.by AFP on May 05, 2018 Tweet, https://www.securityweek.com/us-military-bans-huawei-zte-phones

[12d]. https://www.theverge.com/2018/8/13/17686310/huawei-zte-us-government-contractor-ban-trump

[12e]. Chinese spy chips are found in hardware used by Apple, Amazon, Bloomberg says; Apple, AWS say no way, https://www.cnbc.com/2018/10/04/chinese-spy-chips-are-said-to-be-found-in-hardware-used-by-apple-amazon-apple-denies-the-bloomberg-businessweek-report.html

[12f]. China allegedly infiltrated US companies through implanted hardware backdoors,
Zeljka Zorz, Managing EditorOctober 4, 2018, https://www.helpnetsecurity.com/2018/10/04/implanted-hardware-backdoors/

[12g]. https://irishinfosecnews.wordpress.com/2018/10/04/china-allegedly-infiltrated-us-companies-through-implanted-hardware-backdoors/

[12h]. Report: In Huge Hack, Chinese Manufacturer Sneaks Backdoors Onto Motherboards, https://www.darkreading.com/network-and-perimeter-security/report-in-huge-hack-chinese-manufacturer-sneaks-backdoors-onto-motherboards/d/d-id/1332977

[12i]. https://irishinfosecnews.wordpress.com/2018/10/04/report-in-huge-hack-chinese-manufacturer-sneaks-backdoors-onto-motherboards/

[13]. https://www.reuters.com/article/us-usa-trade-china-diplomacy/u-s-ambassador-accuses-china-of-bullying-with-propaganda-ads-idUSKCN1MA0HW

[14]. Trump calls on Apple to move production from China to US, September 8, 2018, https://m.phys.org/news/2018-09-trump-apple-production-china.html

[14b]. Why foreign companies are shutting shop in China, Jane Li, Thu, 2 Feb 2017, https://www.cnbc.com/2017/02/02/why-foreign-companies-are-shutting-shop-in-china.html

[15]. https://ukgovernmentwatch.wordpress.com/2018/10/07/china-shonky-steel-rogue-chips-in-computers-what-else/

[16]. https://wentworthreport.com/2018/07/02/the-china-trade/

[17]. China Reshapes The Vital Mekong River To Power Its Expansion, https://superforest.blog/2018/10/06/china-reshapes-the-vital-mekong-river-to-power-its-expansion/

[18]. Vietnamese Worry About China’s “Slow, Creeping Invasion” from Tibet to Australia and Pakistan, https://johnib.wordpress.com/2018/10/07/320212/

[19]. https://johnib.wordpress.com/2018/09/26/south-china-sea-do-china-and-the-u-s-know-each-others-intentions/

[20]. http://www.abc.net.au/news/2016-07-13/rothwell-south-china-sea-verdict-explained/7624120

[21]. http://www.abc.net.au/news/2017-11-29/south-china-sea-why-is-australia-worried-about-chinas-stance/9206998

[22]. China’s Dream of a China-Dominated World May Be Fading (At Least For Now) Because of Donald Trump, https://johnib.wordpress.com/2018/10/07/chinas-dream-of-a-china-dominated-world-may-be-fading-at-least-for-now-because-of-donald-trump/

Added after 2018 November 01:

[23]. Trump administration says U.S. mistakenly backed China WTO accession in 2001, https://www.reuters.com/article/us-usa-trade-china/trump-administration-says-u-s-mistakenly-backed-china-wto-accession-in-2001-idUSKBN1F82U1

[24]. The WTO still considers China a ‘developing nation.’ Here’s the big problem with that, https://www.cnbc.com/2018/04/25/what-trump-gets-right-about-china-and-trade.html

[25]. https://theconservativetreehouse.com/2018/11/01/president-trump-talks-many-subjects-with-chairman-xi/

[26]. Private Businesses Built Modern China. Now the Government Is Pushing Back , https://www.nytimes.com/2018/10/03/business/china-economy-private-enterprise.html

[27]. https://wentworthreport.com/2019/01/03/china-cracks-manufacturing-sector-contracts-for-first-time-since-trade-war-began/

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