4 ms·

These people are from countries where the people in favour of the government get rich, and the rich people not in favour of the government get poor. They are cu

by est31 8y ago

These people are from countries where the people in favour of the government get rich, and the rich people not in favour of the government get poor. They are currently in favour of their respective governments and even though they probably spend considerate efforts to keep it that way, they know this can change any day without them doing anything wrong. They probably know it better than anyone, being part of that system. Putting their money where their government can't get it gives them an immense security benefit.

pjc50 8y ago
If it were merely that, there might be something to it, but the article presents claims that it's mostly organised crime, or money from countries sanctioned by the US.
- dsfyu404ed 8y ago
  Well yeah, Chinese millionaires shoving money into things it will be hard for the Chinese .gov to seize doesn't make for nearly as juicy of a story as organized crime. With the current political situation the selection of the laundering proceeds of crime narrative rather than the sheltering assets from government makes further sense. The fact of the matter is that the article is nothing but hearsay. Sure, it looks like there's some sketchy money laundering going on but getting your money out of China and flying under the radar while doing it is likely to involve the same sorts of laundering shenanigans as liquidating the proceeds of crime.
  - seanmcdirmid 8y ago
    Much of the money sliding around in China is grey money, so it is likely to be money laundering from the Chinese perspective. And a lot of that money is earned via prostitution, gambling dens, and whatever that are typically thought of us crimes. Heck, organized crime is rife in China, except rather than being run by a mob, its more often run by the PLA or police. Admittedly, it’s not that bad anymore (Xi has really cracked down and things have cleaned up a lot), but it was 10 years ago that this wasn’t the case, that is at least some of the money going to Canada.

by est31 8y ago

pjc50 8y ago

If it were merely that, there might be something to it, but the article presents claims that it's mostly organised crime, or money from countries sanctioned by the US.

dsfyu404ed 8y ago
Well yeah, Chinese millionaires shoving money into things it will be hard for the Chinese .gov to seize doesn't make for nearly as juicy of a story as organized crime. With the current political situation the selection of the laundering proceeds of crime narrative rather than the sheltering assets from government makes further sense. The fact of the matter is that the article is nothing but hearsay. Sure, it looks like there's some sketchy money laundering going on but getting your money out of China and flying under the radar while doing it is likely to involve the same sorts of laundering shenanigans as liquidating the proceeds of crime.
- seanmcdirmid 8y ago
  Much of the money sliding around in China is grey money, so it is likely to be money laundering from the Chinese perspective. And a lot of that money is earned via prostitution, gambling dens, and whatever that are typically thought of us crimes. Heck, organized crime is rife in China, except rather than being run by a mob, its more often run by the PLA or police. Admittedly, it’s not that bad anymore (Xi has really cracked down and things have cleaned up a lot), but it was 10 years ago that this wasn’t the case, that is at least some of the money going to Canada.