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Behold China’s $300 Billion Accounting ‘Fudge’ (Or Where The Corrupt Money Flows)
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / by Tyler Durden on 01/13/2015 20:55
When an accounting ‘fudge’ accounts for $300 billion of a nation’s Balance of Payments, you might suspect something is amiss. And sure enough, as Goldman notes, the growing ‘error and emission’ items in China’s balance of payments may reflect a pickup in hidden cash transfers as China’s anti-corruption probes encouraged the corrupt oligarchs to get their money out of dodge. As Goldman warns, “such outflows may be harder to contain with regulations, a continuation of their recent acceleration could start posing tangible financial stability concerns.”
Wondering where all that Oligarch cash flooding into London, New York, and SoCal is coming from? Here it is…
Nothing to see here, move along!!!
As Bloomberg reports,
The post Behold China’s $300 Billion Accounting ‘Fudge’ (Or Where The Corrupt Money Flows) appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2015/01/13/behold-chinas-300-billion-accounting-fudge-or-where-the-corrupt-money-flows/
