Undercut or simply apply a model that works. Offer western country cheap goods and the people become blinded from right and wrong. Do not support western entities support criminal money laundering.
They deliberately spend resources on investigating legit withdrawals, so that they appear to be doing something. All in cahoots with the real criminals. Same applies to illegal migration. Spend all resources on punishing legit travellers with visas.
From experience, the easiest way to launder money is through buying stocks or crypto using an FA. They don't really ask questions as they're more interested in your money and when the payouts starts coming, its clean money. Funny thing is that you even get to still make a lot of profit on that money if you use a good one.
Nice... This makes a lot of sense... I've been considering going into this stock thing for some time now but not for the reasons you mentioned... Heard its a nice way to make some extra funds... How do you get a good F.A and how expensive are they...
I don't judge man lol. You should start by looking out for those with strong records. Also make sure the person is registered. Personally, I use Marie, Kelly Matwick. She's not so popular but you might have heard of her. And from my experience, they're usually way cheaper than you would expect
This type of money transfer system was and is common throughout Asia and has been part of their informal economies for centuries. In South Asia, it is referred to as 'hawala' or 'hundi', although hundi does involve the actual transfer of money, while hawala does not. I believe in China it is referred to as flying money. It was prominent in Vancouver, the city I now live in, from c.2000-2016, when drug gangs would launder their proceeds through Chinese brokers who then arranged equivalent debits in China for rich individuals who wanted to purchase real estate in Vancouver. (At that time, they could only take out $50,000 USD from China). It became so prominent that this form of money laundering for real estate is referred as the Vancouver model. I believe this practise has decreased due to much stricter capital controls on outflows from China, starting in 2016, but I'm sure it still exists. Another factor in its decrease may be the 2% investor tax on real estate. Hawala was also the preferred form of money transfer for ISIS and al Qaeda. You should mention this, since this type of money transfer is far wider and greater than being limited to the drug trade.
Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!
@@สมรักษ์อินทร์ตา-ม7ฑ Sarah Jennine Davis is strongly recommended. When you search for her on your browser, you should most likely find basic information about her.
so basically, the chinese discovered the hawala system and now are helping drug smugglers. Middle East and South Asian based terrorist have been using this method for decades fund their activity.
America and uk and eu secret services funded all terroist activuties and groups to finamce their arm sales and oil thefts. Hawala is mostly funds poor people disapora . U have no source.
Another elephant is that governments are spending more for law enforcement around drugs, but deaths keep on going up. Surely, there have to be other strategies to consider.
LOL.. this is NOT a new problem. as soon as we climbed out of the pond were started looking for a high... EVERY animal on Earth does the same, it is NOT a problem with modern society...
One big element in the problem is that once a person experiments with some of the super-addictive drugs, the urge for the drug is neurologically more powerful than the neurology of telling oneself to quit. Prevention is best -- really effective education about the perils and seductiveness of it all, strong enough to make people averse to touching drugs. Pre-emptive aversion therapy, so to speak.
@@vancouverterry9142 Good points. Outreach through social work is an important piece. Who knew the xylazine would be so addictive? Its literally melting skin, the drugs are being weaponized and the supply side must continue to be attacked
I think this is becoming more of a story due to the Chinese President applying the 50,000 USD limit on it's citizens moving funds out of China per year with the aim to keep Chinese capital within its borders (there is a whole range of economical factors behind the decision that i won't get into). With these capital movement restrictions, it provides a great opportunity for money laundering syndicates and crime groups to utilise a Hawala like service to co-mingle illicit funds and proceeds of crime with the billions from the legitimate Chinese business world. Due to these capital restrictions enforced by the CCP, it has opened the eyes of bad actors to utilise a Hawala system one might argue may not have arisen (a least to the level it has today), had the CCP not enforced the capital movement restrictions, as legitimate business and billionaires would be able to move their profits traditionally through the financial system. I'm afraid the underground banking systems are here to stay and will be ever growing, making it hard for authorities to crack down on money laundering and terrorism financing.
The Vaticave transferred all Catilics liquid assets to the bank of the vaticave by Sept 2022. Not one word was mentioned or how many billions were taken out of US. Bsnk failures? Many dtsyed without reserves.
@@klmn2000 It's less about the limit and more about the CCP's actual attitude towards people moving foreign capital out of China. By attitude I mean cutting their passports, police brutality them in their own homes, intercepting them from getting the paperwork in order, make up crimes to arrest them and seize their capital, etc. Basically doing almost everything they can to stop any foreign capital and persons from leaving the country. Before xi took full power you're still able to take USD out of china within the limit. now Chinese banks would even hand over fake bills for aspiring Chinese tourists trying to withdraw foreign currency to use outside of China. Assuming they could even manage to leave, of course. But that mostly applies to the downtrodden normal Chinese citizens, most of the upper CCP leadership use money laundering methods to move their corruption money and professional smugglers to move their family out of China so xi can't take them hostage or get his fat honey bear paws on all that money.
It was not explained how the Chinese national businessmen who buy USD from the brokers are able to use that cash to invest within the US. Do they deposit it at a bank? How is a non citizen depositing millions in CASH not the biggest red flag? I just don't understand how the cash is able to be integrated into the financial system
@@meiko_kaji What you did is the opposite of explaining. The real explanation is that they launder it locally, usually through real estate, but the laundering takes place on a long timeline, which you can easily handle once you have scale and are patient. You can launder it through businesses, by making fake orders. If you start throwing money around on bling, you're gonna get busted quickly.
Yeah but the funny thing is London is also the same. London is corrupted in the same way. It is just hilarious that they like to talk about Chinese when EVERYONE does this. Around the world, many wealthy people from every country does this
These operators are more discreet than say the US government blatantly applying inilateral sanctions on countries it doesn't get on with and stealing their $200+ billions as in current US robbing of Russia.
Chinese underground banking has been around for very long, at least 200 years. At least it is known to be the way Chinese immigrant working in Southeast Asia sending money back and receiving money from mainland since 150 - 200 years ago.
E non è una bella cosa credimi, un conto è vederlo nei documentari un conto è avere criminali di questo livello radicati da secoli nel tuo paese come un cancro. Purtroppo questa è la genialità italiana applicata al crimine, come abbiamo creato la Ferrari e Gucci abbiamo creato la Mafia
I expected more from the FT. The title does not match the theme of this documentary which is IVTS, not money laundering. The whole doc covers the remittance of funds not how the funds are laundered for this you need placement, layering and extraction and the last 5 min of the doc do not cut it (as we are talking about billions that are moved around but not placed into the financial system - this is not explained in this doc). Misleading title - get it right next time!
The laundering portion happens when criminal proceeds are propping up the liquidity and settlement for the other side of the trade. They mentioned it towards the tailend of the video.
The term "money laundering" is being used inaccurately here. They are labeling "unlicensed money transmission" (still a serious federal crime) as "money laundering." Why are the experts featured in this video doing that and why is FT (that knows the difference) allowing it to stand?
@@huaishi14 Because everyone is in it. You will be surprise how many people are in it with them. Listen to what Bradley Birkenfeld said. He said so much US politicians hide their money.
Cause that's the reality of the world these days. Everything's so backwards from how it should be! Wrong is right and Right is wrong! I'm A Purple Elephant with A huge Slong! And evertime I fart, Rainbows pop out My A$$ that when smelled turn into cash money! Did you believe Me? I guarantee theres some baffling idiot out there who'll believe it! Common sense decency and basic reasonable critical thinking and problem solving skills and the ability to objectively see things for what they are and not what they want us to believe they are? Are skills that have been almost completely forgotten by the masses!
Because the financial bank system has as #1 client drug and child sex trafficking's, since 1850. HSBC banks HAS BEEN CREATED in 1865 to lauder drug money from it's fist day. #1 Money laundering (drug+kids+weapons) is HSBC New York, Hong Kong and Israel. #2 Is City of London and all it's affiliates in the Commonwealth (drug, kids, dictators, terrorism, weapons, and many more) #3 Is United Arab Emirates #4 Is China. Interesting they very conveniently avoid talking about the worst offenders.
I’m from the Bay Area. Our prices went so crazy for so long, that for many periods of the last decade and longer, almost everyone trying to buy a house in the hottest markets lost their bids to a Chinese “over-offer”. That means that the Chinese were willing to pay 1.2-1.5 the HIGHEST OFFER in a market where houses were regularly surpassing $700,000 and topping off at past a million. NOTHING rentable was under $500,000 (and that’s a bad neighborhood).
A DEA agent recently spoke about how it costs 3-5k USD for Fentanyl precursors in China which they can post you. That then becomes worth up to 1.5MM USD in the states when used to make Fentanyl tablets. It is easy to see why it is so attractive as for the price of a 2nd hand car you have life changing money
@@ecoideazventures6417 So basically you graduate compulsory education and then discover that you have no money left after paying your bills with a job that asks you to work 60+ hours a week (or two with combined hours). You then find that using fentanyl makes you feel better than actually living. Next, you decide to sacrifice some utilities in your life so that you can fund your drug addiction because you believe you'll never get ahead in the first place.
It's culture at this point. It became trendy many years ago. You can't erase it from conversation. Respected people keep talking about their experience with drugs
While the previous 3 comments do have valid points, there is another player in the game that hasn't been properly acknowledged and that's prescription drugs(big pharma), particularly prescription opioids. The surgence of heroin users in the last decade and a half has seen not just a surgence in users after tapering off for a while but also a shift in the demographic that suffers from them. If you look at many of the current people addicted to fentanyl, you can trace it back to heroin, and if you trace the source of that problem, you realise a majority of them started off with prescription drugs. Doctors were earning commission on every prescription of opioids they could get their patients to take(oxycontin for example), with the claims at the time that they did not have habit forming properties. However when the patients had their supply of prescription drugs cut off, they remained addicted and turned to illicit alternatives to get their fix. That was heroin. Although it is difficult to lay the entire blame on pharmaceutical companies for selling "medication" and ultimately resulting in the fentanyl epidemic but they do play a major role in introducing the problem to American society, only for it to become something that was far bigger(and far more profitable) than their own profit margins. Furthermore due to the pervasiveness of drug usage in America(as another commenter mentioned it is part of the culture) and per the laws of economics such as supply and demand, fentanyl is an economically natural development. If you can sell higher quality products(effectiveness of the drug) in smaller quantities for cheaper prices, you have a successful business model on your hands. This has resulted in the resulting "epidemic" of fentanyl we see here. However with that being said, drug usage has moderate popularity in Europe too, with countries such as the UK and the Netherlands consuming and producing drugs respectively(billions of Euros worth). However while drug consumption is moderately "rampant" in Europe, fentanyl remains a relatively small problem. I believe personally(anecdotal) that another commenter has valid points in regards to the quality of life. In Europe many states are modelled based on welfare principles. With the socioeconomic problems of many people being far less severe than their American counterparts. Without a doubt a substantial(but allegedly inconclusive) amount of research has been done on the quality of one's life and their probability of developing debilitating addictions, with harsher living conditions leading to higher rates of addiction. With this being said it comes as no surprise that Americans who live under a government that has a rather inefficient democratic system, corporate liberties outweighing personal liberties, rights to healthcare and high quality education being a privilige as opposed to a right etc. are rather unhappy with their lives and like any human being(or intelligent mammal for that matter) would do is to seek escapism from that pain. All in all it's a complicated problem and the solution is both simple and infinitely complex. However what I personally question is why the relevant organisations are drawing attention to this issue moreso than when prescription drugs were a problem. My logical guess is that it's a matter of numbers, that in absolute terms the number of people dying of it are higher than before and therefore deserves more attention drawn to it. Nonetheless the conspiracy theorist in me wonders how much this "problem" has got to do with the profits not falling into the "right hands". After all a government that puts cannabis under schedule 1 on the prohibited substance list(claiming it has no medicinal value whatsoever) is perhaps one that needs to be scrutinised for its greater interests in profit over their own people.
you should see videos off open air drug markets, drug use, some places in america police don't arrest drug users, you should see videos of "kengsington avenue" and canada, also amsterdam, are like the drug markets in mexico a columbia etc, very bad but also sad
HSBC won't make as much money.... and neither will real estate agents in Australia. Our government knows that money is laundered through our real estate market but still hasn't bothered to do checks and balances on it.
I think HSBC makes alot of money because not only Chinese, alot of American wealthy, European, Middle eastern and South East Asian or even East Asian wealthy people runs through HSBC. No government can put them or any financial institute in check since many wealthy around the world runs through them. Many politicians are also wealthy so you cannot hold HSBC accountable for anything. This isn't just Chinese but many wealthy uses HSBC or other financial institutes
@@turtleofpride4572if there was no demand even with all the supply no one would use it. You can have a mountain of gold but if no one wanted it it’d just be some useless mineral.
Also this is a basic economic principle, demand sets the price of a supply so therefore with absolutely no demand and high supply its price/worth is $0. That’s why companies go bankrupt with thousands of products but no one willing to buy them.
Replace the words "Chinese brokers" by "American brokers". Then you have to real picture about the people of Wall Street who launder trillions of dollars.
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
This method of moving money across borders is known as "hawala." Its use was necessitated by the tight foreign exchange restriction in the sub-continent.
The Americans are new to this game. They will eventually learn. But that will take many centuries. They are still at the stage of squandering her money on her navy.
This system has been used in ancient China for centuries, Muslim countries have used this hwala system for ages. I believe many ethnics have this system. It's an ancient way of banking, nothing new, I'm surprised that they are surprised.
The War On Drugs has only made things much, much worse. More drugs than ever, Worse drugs than ever, More death, More addiction, More Corruption, More Terrorism, Millions of people in prison and we've blown a trillion dollars in the process. It's a lose/lose/lose situation.
I was thinking about this all the time. Millions of people are probably doing money laundering without knowing, without earning from it, and quite often losing money
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
My CFA ’ANGELA LYNN SCHILLING’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
The comparison of Overdose deaths to the Vietnam war is such a stupid statement. We lost good contributing members of society in Vietnam not a bunch of worthless drug heads who do it to themselves. Nobody forced them to take drugs, as a former opioid addict myself because of a doctor’s prescription! I made the decision that I wasn’t going to lower myself to buying off the streets when the prescription was gone! I wouldn’t allow a drug companies greed the power to destroy my life. Everyone who has died buying that crap off the streets had the same choice I did and they picked the easy road of continuing a destructive lifestyle. It’s sad for the families but they did it to themselves.
So many constructive criticism/ comments, even better than the article itself. Just to show that people are more educated today, more opinionated, and maybe even more knowledgeable, informed, willing to listen and understand the issues.
I make 500k a year. Mind you I have no children and zero debt. I have a six figure portfolio (Stocks, crypto crowdfunding real estate, savings, and CD's) it wasn't easy. I hustled, saved, and invested my money. I always tell people "Money can't fix stupid"
I was homeless, got into drugs went to prison, and then I got to know Jesus and he changed my life...Heaven came through for me in my finances too, getting $50,000 in 2months. I can support God's work and give back to my community. God is more than enough! Now I have a new identity and am a child of God
Very good video - thank you! I created a video on this topic for my channel a few months ago but sadly it did not have much success, which is a shame as I wanted to raise awareness about this problem across my community. I'm only a small UA-camr not the FT of course but still, I was hoping the YT algorithm could push it a little more to let more people know about this. With that said, I'm happy that at least your video is going strong on this so one way or another the voice on this issue is heard. Thanks again!
8:40 Poorly explained. I don't understand how the brokers settle their transfers across borders? Surely at some point the brokers in the US, Mexico and China need to move the money to each other which would be the trickiest part of the laundering process. But that part is left out completely in the video. So it is a video about money laundering without the explanation about the actual laundering
They just need to match the incoming and outgoing amounts. As long as the demand for both sides of the trade balances, it will always be a nett trade. If there's too much of a supply on one side, it will just affect the price of the currency which is in big supply. For example, if I have USD 1m which needs laundering into the mexican peso equivalent, I just have to contact my mexican counterpart and let him know I need pesos and to check if he has a USD buyer who is paying in Pesos. It can be a wholesale deal or in parts, just depending on the rate. If there isn't enough pesos on the other side, then the USD seller has to adjust his rates and eventually someone will trade pesos for all my USD stock. Just imagine it to be a forex trade, except the trades are executed in a very manual and labor intensive format.
this is an anti china propaganda piece to justify snactions on chinese banks. China fought the opium war and has outlawed drug trade with the death penality. In the u.s drugs are legal.
It's not hard since there is a big Chinese population in both Californian states in Mexico, so it makes sense that the process works since the narcos don't have to leave the country to do it.
The only difference between legal and illegal, is paperwork. If it's taxed or profited by investors, and politicians it's legal. If the same thing is done under the table, it is illegal.
In my opinion, housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you're careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn't king at all in this time!
You are right! I've diversified my portfolio across various markets with the aid of a financial adviser, I have been able to generate a little bit above $450k in net profit across high dividend yield stocks, ETF and bonds.
I have been thinking about how to grow my reserve by at least 40% or more within months. I will be grateful if you can give tips or anything on how to make good market picks and how I can get my portfolio diversified and balanced in order to meet up my target.
Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.
@user-rk9it9hz6g there’s too much hypocrisy in America for me buddy that 💩 is choking all of us out. Not to mention, these “news” outlets have 0 self awareness.
I'm a Police officer and I'm tired of taking these reports where people are scammed anywhere from 100 to seriously $50,000. It's quite unfortunate tho, Grind Techiei Seriously thank you for flagging down these swindlers. You make me want to spend my next ten years learning how to do thïs
AML checks need to evolve. And banks need to do their part. Money might not have moved internationally but it still has moved from one party to another, often via bank accounts. As a banking customer you must have viable, provable reasons for significant movements of money in/out of your account. If you can't provide a valid proof, it should be liable to be being seized by authorities.
What is troubling is that there is a movie by Brandon Lee and duff something specify this exact scenario situation back in the 90s. So it's not like were just finding out because somebody new over 20 years ago
I think the new aspect is how the currency swaps don't actually involve moving any money. RMB only circulate within China, and USD only circulate within the US, but still everybody manages to move their money across borders.
The war on drugs has failed. As with the prohibition of alcohol, it didn't stop the problem, and it empowers black markets, organized crime, and corruption in policing.
The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or real estate to achieve this goal?
Varied sources of income is wise and especially living within your means. My net worth is $2M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.
Money advice is subjective, what works for you may not work for someone else, but it's always better to plan. I'm quite lucky exposed to personal finance at an early age, started job 19, bought first home 28, got laid-off work 36 amid covid-outbreak, and at once I consulted an advisor to handle growing my finance. As of today, I'm only 25% short of my $1m goal after subsequent investments.
bravo! inherited money from a childless relative and traveled overseas, got married to a lady almost my age, but the only issue is how to preserve and grow my wealth in view of retirement, can your advisor be of help please?
I work with Jessica Lee Horst as my licensed advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
Thank you for sharing, I must say, Jessica appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
Knew of folks who did this in Shanghai, tons of money leaving the country for US, Australia, EU. Folks fleeing with assets like their lives depended on it.
What's the difference between money laundering done by Chinese and helping to overthrow the legitimate governments with the help of the us governments.
Lol FT hit piece. Remember this is the same org that told you Russia was running out of weapons in 2022. Is this part of the $90 billion media campaign against China set by the US😂
A question I have is how criminals will transact their business once nations and entities implement the rollout of CBDCs, removing cash from the system.
Assuming CBDCs are implemented, there's no reason to think the elimination of cash would follow. At least the US dollar wouldn't go anywhere (the fact the penny still exists is evidence of that).
In Pakistan we call it the Hawala system.Majority of overseas Pakistanis send remittances through Hawala channels so that the transaction is not traced and tax is not deducted from it.
In India this was called HAWALA laundering system/network. It has been clamped down now. A payment system like UPI is really needed for traceability and any transactions in cash should be penalized.
Hang on...the whole story was not explained. Chinese want to move 1 Million USD equivalent of Renminbi out of China. In the UK a Chinese broker "gets his funding from a drug cartel wanting to launder money"...I do not get it...what is the use of Renminbi to a drug cartel in Columbia? Makes no sense at all to me. Interesting though it is, it is clear that the entire story is not elucidated in this very interesting program. The fact remains that there has to be bilateral or even trilaterial interest in currencies or assets in different jurisdictions for this to work. If I pay 1.1 Million USD equivalent of Renmimbi to someone in China and I received 1 Million USD in the UK, someone in China has the issue of dealing with the Renmimbi...the story does not add up.
I think it can work IF: Chinese govt. don't check how a medical company make their money. If they make fentanyl or illegal Wegovy, what does that matter for China as long as they sell to west? Then the physical USD bill is "smuggled" into China, and the bills are changed into RMB by chinese govt. which then financies the import compagnies in China, buying iPhones, Mercedes, airplanes, US treasuries with USD from export of fentanyl and fake Wegovy. It should be possible to verify if this is the method, by totalling the import and export between US and China: does it balance. Which is extremely difficult to do
how can they explain it properly when they have no idea how it works. It doesnt add up because the reporters are clueless. As clueless as the cops who barely finished high school. CIA probably knows and they are a part of it.
It works because Renmimbi is valuable within China and used to buy everything. The chemicals exported from China that are used in Mexico to make the fentynal are ultimately paid for with USD on the streets of USA where Chinese people want the money. The Renmimbi is used in China to make the chemicals for export.
Panama papers, Pacific Papers - yet there is complete blindness in that area. What the govt does not like is arbitrage - gone are the good old days of setting gold prices and exchange rates. And if you are huge, you can play the futures and derivative markets via sham companies.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
How dare the Chinese undercut European and American money launders!!!!!
😅😅😅
😂😂😂
Undercut or simply apply a model that works. Offer western country cheap goods and the people become blinded from right and wrong. Do not support western entities support criminal money laundering.
Bingo!
Exactly, FT should make a documentary about it!
I'm over here struggling to get my bank to let me withdraw $1000.
They deliberately spend resources on investigating legit withdrawals, so that they appear to be doing something. All in cahoots with the real criminals. Same applies to illegal migration. Spend all resources on punishing legit travellers with visas.
Me too, now we know why...
Move to China sunshine
use a different bank
@@Ghost_Rider_786 I don't think that will fix the issue.
From experience, the easiest way to launder money is through buying stocks or crypto using an FA. They don't really ask questions as they're more interested in your money and when the payouts starts coming, its clean money. Funny thing is that you even get to still make a lot of profit on that money if you use a good one.
💯💯
Nice... This makes a lot of sense... I've been considering going into this stock thing for some time now but not for the reasons you mentioned... Heard its a nice way to make some extra funds... How do you get a good F.A and how expensive are they...
I don't judge man lol. You should start by looking out for those with strong records. Also make sure the person is registered. Personally, I use Marie, Kelly Matwick. She's not so popular but you might have heard of her. And from my experience, they're usually way cheaper than you would expect
LMAO
@@BarnRichard small world. Met this lady at our country club weeks ago. Had to go to her page to confirm that i wasn't mistaken. really small world
This type of money transfer system was and is common throughout Asia and has been part of their informal economies for centuries. In South Asia, it is referred to as 'hawala' or 'hundi', although hundi does involve the actual transfer of money, while hawala does not. I believe in China it is referred to as flying money. It was prominent in Vancouver, the city I now live in, from c.2000-2016, when drug gangs would launder their proceeds through Chinese brokers who then arranged equivalent debits in China for rich individuals who wanted to purchase real estate in Vancouver. (At that time, they could only take out $50,000 USD from China). It became so prominent that this form of money laundering for real estate is referred as the Vancouver model. I believe this practise has decreased due to much stricter capital controls on outflows from China, starting in 2016, but I'm sure it still exists. Another factor in its decrease may be the 2% investor tax on real estate. Hawala was also the preferred form of money transfer for ISIS and al Qaeda. You should mention this, since this type of money transfer is far wider and greater than being limited to the drug trade.
America is new to the game and is way way behind the curve.
Very informative. Thank you.
You just taught me something wow
What ? Blaming others again, the "US-TD Bank" money Laundromat just got fined big time, US banks don't go bankrupt for being ohnest.
Thank you for recommending Sarah Jennine Davis on one of your videos. I reached out to her and investing with her has been amazing.
Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!
Do you mind sharing info on the adviser who
assisted you? I'm 39 now and would love to
grow my portfolio and plan my retirement
@@สมรักษ์อินทร์ตา-ม7ฑ Sarah Jennine Davis is strongly recommended. When you search for her on your browser, you should most likely find basic information about her.
@@Elijah-e6vHow do I access her ? I really need this
+156
so basically, the chinese discovered the hawala system and now are helping drug smugglers. Middle East and South Asian based terrorist have been using this method for decades fund their activity.
exactly, the financial system can easily detect this. 9/11, 26/11 all had hawala trails.
@kaushikvedanarayanan177 Scale...
@@nithinv5990 Sources?
Read about it. Halawala is a very good system to move cash.
America and uk and eu secret services funded all terroist activuties and groups to finamce their arm sales and oil thefts. Hawala is mostly funds poor people disapora . U have no source.
the elephant in the room is that only 3% of all container shipping is actually checked..
Same with airports (Cartels stopped building runways for a reason)
How much of your USDA inspected meat is actually inspected?
@@Pizza-gb1ch more than the gutter oil in China that gets reused by restaurants.
More than the elevators, gas pipes, and train stations 🤣
@@Owl-of-Minerva investigation based on the story tell of FT employees. LOL
Another elephant is that governments are spending more for law enforcement around drugs, but deaths keep on going up. Surely, there have to be other strategies to consider.
The query that doesn’t get asked is why is society turning to such drugs. Problems in society that needs to be addressed.
That question will be back fire back to States. They can not blame on China. Therefore, not in US benefits 😂
Part of it is social pressure. Dealers are like the devil.
LOL.. this is NOT a new problem. as soon as we climbed out of the pond were started looking for a high...
EVERY animal on Earth does the same, it is NOT a problem with modern society...
One big element in the problem is that once a person experiments with some of the super-addictive drugs, the urge for the drug is neurologically more powerful than the neurology of telling oneself to quit. Prevention is best -- really effective education about the perils and seductiveness of it all, strong enough to make people averse to touching drugs. Pre-emptive aversion therapy, so to speak.
@@vancouverterry9142 Good points. Outreach through social work is an important piece. Who knew the xylazine would be so addictive? Its literally melting skin, the drugs are being weaponized and the supply side must continue to be attacked
Pretty sure the UK is the world's biggest money launderer. Guess we don't like competition.
It WAS the biggest dealer so, it makes sense.
No the CIA is the worlds biggest money launderer and dealer
@@xhagast No the CIA is the worlds biggest money launderer and dealer
It made its fortune using Opium Wars
I think this is becoming more of a story due to the Chinese President applying the 50,000 USD limit on it's citizens moving funds out of China per year with the aim to keep Chinese capital within its borders (there is a whole range of economical factors behind the decision that i won't get into). With these capital movement restrictions, it provides a great opportunity for money laundering syndicates and crime groups to utilise a Hawala like service to co-mingle illicit funds and proceeds of crime with the billions from the legitimate Chinese business world.
Due to these capital restrictions enforced by the CCP, it has opened the eyes of bad actors to utilise a Hawala system one might argue may not have arisen (a least to the level it has today), had the CCP not enforced the capital movement restrictions, as legitimate business and billionaires would be able to move their profits traditionally through the financial system. I'm afraid the underground banking systems are here to stay and will be ever growing, making it hard for authorities to crack down on money laundering and terrorism financing.
Ppl who deride China often wrongly use CCP.....they can never get it right. It is actually NOT ccp.
The Vaticave transferred all Catilics liquid assets to the bank of the vaticave by Sept 2022. Not one word was mentioned or how many billions were taken out of US. Bsnk failures? Many dtsyed without reserves.
It used to be a 10k USD limit. There were always capital controls. Nothing new here.
Ever heard of Bitcoin-
There is the answer!
@@klmn2000 It's less about the limit and more about the CCP's actual attitude towards people moving foreign capital out of China.
By attitude I mean cutting their passports, police brutality them in their own homes, intercepting them from getting the paperwork in order, make up crimes to arrest them and seize their capital, etc.
Basically doing almost everything they can to stop any foreign capital and persons from leaving the country. Before xi took full power you're still able to take USD out of china within the limit. now Chinese banks would even hand over fake bills for aspiring Chinese tourists trying to withdraw foreign currency to use outside of China. Assuming they could even manage to leave, of course.
But that mostly applies to the downtrodden normal Chinese citizens, most of the upper CCP leadership use money laundering methods to move their corruption money and professional smugglers to move their family out of China so xi can't take them hostage or get his fat honey bear paws on all that money.
It was not explained how the Chinese national businessmen who buy USD from the brokers are able to use that cash to invest within the US. Do they deposit it at a bank? How is a non citizen depositing millions in CASH not the biggest red flag? I just don't understand how the cash is able to be integrated into the financial system
@@meiko_kaji That's right. China manufactured goods becomes part of the "money" transferred.
They purchase real estate worth a couple of million dollars with the dark money. That's how they wash it.
@@meiko_kajiYou still didn't explain it
Restaurants, barbershops are used to launder. This money is actually sold at a discount. You might get 100k for 90k from example
@@meiko_kaji What you did is the opposite of explaining. The real explanation is that they launder it locally, usually through real estate, but the laundering takes place on a long timeline, which you can easily handle once you have scale and are patient. You can launder it through businesses, by making fake orders. If you start throwing money around on bling, you're gonna get busted quickly.
City of London real pissed with the competition LOL.
Yeah but the funny thing is London is also the same. London is corrupted in the same way. It is just hilarious that they like to talk about Chinese when EVERYONE does this. Around the world, many wealthy people from every country does this
These operators are more discreet than say the US government blatantly applying inilateral sanctions on countries it doesn't get on with and stealing their $200+ billions as in current US robbing of Russia.
Tony Montana approves of this message.
lol. Suisse too
LOL
Chinese underground banking has been around for very long, at least 200 years. At least it is known to be the way Chinese immigrant working in Southeast Asia sending money back and receiving money from mainland since 150 - 200 years ago.
Yep! It's not even Chinese who uses this, but many does from all over the world. Even wealthy Americans uses underground banking.
They buy houses in cash, not only laundering the drug money, but also raising the prices for the others…
Yes. Not one question asked. zBut try to buy cash as a Uas citizen. You are investigated, watched, followed … targeted.
How was Miami built with white dust.
@@lizbethartemis4886 What is Uas?
Chinese busniess people now own approximately 2.5% percent of american soil.
Probably US allows this as they want to receive more money from China to help the US economy.
How dare the Chinese to control the legal and Ilegal methods of money movement of the Occidental tycoons.
There's always one of us Italians in a money launder documentary LOL :)
Well well well
@@jeice452 😂😂😂
Dna.
E non è una bella cosa credimi, un conto è vederlo nei documentari un conto è avere criminali di questo livello radicati da secoli nel tuo paese come un cancro. Purtroppo questa è la genialità italiana applicata al crimine, come abbiamo creato la Ferrari e Gucci abbiamo creato la Mafia
I wonder why 🤣💪😂
I expected more from the FT. The title does not match the theme of this documentary which is IVTS, not money laundering. The whole doc covers the remittance of funds not how the funds are laundered for this you need placement, layering and extraction and the last 5 min of the doc do not cut it (as we are talking about billions that are moved around but not placed into the financial system - this is not explained in this doc). Misleading title - get it right next time!
The laundering portion happens when criminal proceeds are propping up the liquidity and settlement for the other side of the trade. They mentioned it towards the tailend of the video.
Western video lies all the time whats new?
The FT has devolved into a content-farm almost matching the likes of rags of fleet street. Sad.
Actual good comment
@@huaishi14 u have no clue what u are talking and read the post too
The term "money laundering" is being used inaccurately here. They are labeling "unlicensed money transmission" (still a serious federal crime) as "money laundering." Why are the experts featured in this video doing that and why is FT (that knows the difference) allowing it to stand?
34:50 onwards, that bit by Sal Melki explains where laundering comes in.
@@huaishi14 Because everyone is in it. You will be surprise how many people are in it with them. Listen to what Bradley Birkenfeld said. He said so much US politicians hide their money.
Manufactured consent, propaganda and hard to fact check
Cause that's the reality of the world these days. Everything's so backwards from how it should be! Wrong is right and Right is wrong! I'm A Purple Elephant with A huge Slong! And evertime I fart, Rainbows pop out My A$$ that when smelled turn into cash money!
Did you believe Me? I guarantee theres some baffling idiot out there who'll believe it! Common sense decency and basic reasonable critical thinking and problem solving skills and the ability to objectively see things for what they are and not what they want us to believe they are? Are skills that have been almost completely forgotten by the masses!
Because the financial bank system has as #1 client drug and child sex trafficking's, since 1850. HSBC banks HAS BEEN CREATED in 1865 to lauder drug money from it's fist day.
#1 Money laundering (drug+kids+weapons) is HSBC New York, Hong Kong and Israel.
#2 Is City of London and all it's affiliates in the Commonwealth (drug, kids, dictators, terrorism, weapons, and many more)
#3 Is United Arab Emirates
#4 Is China. Interesting they very conveniently avoid talking about the worst offenders.
I’m from the Bay Area. Our prices went so crazy for so long, that for many periods of the last decade and longer, almost everyone trying to buy a house in the hottest markets lost their bids to a Chinese “over-offer”. That means that the Chinese were willing to pay 1.2-1.5 the HIGHEST OFFER in a market where houses were regularly surpassing $700,000 and topping off at past a million. NOTHING rentable was under $500,000 (and that’s a bad neighborhood).
yes 10 years ago houses were so cheap. How many did you manage to buy then they were cheap?
Texas has only been a victim of this for the past 8 or so years. They should have learned from CA. It's taken them by surprise.
make a better offer then lmao, or keep crying
A DEA agent recently spoke about how it costs 3-5k USD for Fentanyl precursors in China which they can post you. That then becomes worth up to 1.5MM USD in the states when used to make Fentanyl tablets. It is easy to see why it is so attractive as for the price of a 2nd hand car you have life changing money
Poverty is what makes drugs economy thrive. You can't kill drugs trade without solving Livelihood Of Citizens
Drug economy is what keeps people poor..
😂😂😂😂😂😂😂😂😂😂😂😂😂
I am wondering how do the poor arrange funds for drugs while they struggle to survive? genuine curiosity!
@@ecoideazventures6417 First things FIRST !!
@@ecoideazventures6417 So basically you graduate compulsory education and then discover that you have no money left after paying your bills with a job that asks you to work 60+ hours a week (or two with combined hours). You then find that using fentanyl makes you feel better than actually living. Next, you decide to sacrifice some utilities in your life so that you can fund your drug addiction because you believe you'll never get ahead in the first place.
Why there is so much demand for drugs in the USA?
You have to read up on opioids. Look up Purdue pharma and how doctors used prescribe OxyContin believing the marketing that it was not addictive.
It's culture at this point. It became trendy many years ago. You can't erase it from conversation. Respected people keep talking about their experience with drugs
While the previous 3 comments do have valid points, there is another player in the game that hasn't been properly acknowledged and that's prescription drugs(big pharma), particularly prescription opioids. The surgence of heroin users in the last decade and a half has seen not just a surgence in users after tapering off for a while but also a shift in the demographic that suffers from them. If you look at many of the current people addicted to fentanyl, you can trace it back to heroin, and if you trace the source of that problem, you realise a majority of them started off with prescription drugs. Doctors were earning commission on every prescription of opioids they could get their patients to take(oxycontin for example), with the claims at the time that they did not have habit forming properties. However when the patients had their supply of prescription drugs cut off, they remained addicted and turned to illicit alternatives to get their fix. That was heroin.
Although it is difficult to lay the entire blame on pharmaceutical companies for selling "medication" and ultimately resulting in the fentanyl epidemic but they do play a major role in introducing the problem to American society, only for it to become something that was far bigger(and far more profitable) than their own profit margins.
Furthermore due to the pervasiveness of drug usage in America(as another commenter mentioned it is part of the culture) and per the laws of economics such as supply and demand, fentanyl is an economically natural development. If you can sell higher quality products(effectiveness of the drug) in smaller quantities for cheaper prices, you have a successful business model on your hands. This has resulted in the resulting "epidemic" of fentanyl we see here.
However with that being said, drug usage has moderate popularity in Europe too, with countries such as the UK and the Netherlands consuming and producing drugs respectively(billions of Euros worth). However while drug consumption is moderately "rampant" in Europe, fentanyl remains a relatively small problem. I believe personally(anecdotal) that another commenter has valid points in regards to the quality of life. In Europe many states are modelled based on welfare principles. With the socioeconomic problems of many people being far less severe than their American counterparts. Without a doubt a substantial(but allegedly inconclusive) amount of research has been done on the quality of one's life and their probability of developing debilitating addictions, with harsher living conditions leading to higher rates of addiction. With this being said it comes as no surprise that Americans who live under a government that has a rather inefficient democratic system, corporate liberties outweighing personal liberties, rights to healthcare and high quality education being a privilige as opposed to a right etc. are rather unhappy with their lives and like any human being(or intelligent mammal for that matter) would do is to seek escapism from that pain.
All in all it's a complicated problem and the solution is both simple and infinitely complex. However what I personally question is why the relevant organisations are drawing attention to this issue moreso than when prescription drugs were a problem. My logical guess is that it's a matter of numbers, that in absolute terms the number of people dying of it are higher than before and therefore deserves more attention drawn to it. Nonetheless the conspiracy theorist in me wonders how much this "problem" has got to do with the profits not falling into the "right hands". After all a government that puts cannabis under schedule 1 on the prohibited substance list(claiming it has no medicinal value whatsoever) is perhaps one that needs to be scrutinised for its greater interests in profit over their own people.
@@markdonnelly6921it is part of the war. drug your opponent and they will not fight.
you should see videos off open air drug markets, drug use,
some places in america police don't arrest drug users,
you should see videos of "kengsington avenue" and canada, also amsterdam, are like the drug markets in mexico a columbia etc,
very bad but also sad
HSBC won't make as much money.... and neither will real estate agents in Australia. Our government knows that money is laundered through our real estate market but still hasn't bothered to do checks and balances on it.
I think HSBC makes alot of money because not only Chinese, alot of American wealthy, European, Middle eastern and South East Asian or even East Asian wealthy people runs through HSBC. No government can put them or any financial institute in check since many wealthy around the world runs through them. Many politicians are also wealthy so you cannot hold HSBC accountable for anything.
This isn't just Chinese but many wealthy uses HSBC or other financial institutes
Royal Bank bought them out in Canada so less money laundering in the future in our country hopefully.
China is able to ‘buy’ insiders on every organizations they need…
It's too lucrative and helps fund dark money programs. Western Gov't need dirty money to keep their positions in the world.
Because they’re participants of that laundering process mate
Your channel is a real storehouse of knowledge about trading. Thank you for your valuable help and support!
This is truly scary stuff, and everyday people just don’t understand the shear scope of this problem.
It is all demand and supply
You got the saying backwards.
@@turtleofpride4572if there was no demand even with all the supply no one would use it. You can have a mountain of gold but if no one wanted it it’d just be some useless mineral.
Also this is a basic economic principle, demand sets the price of a supply so therefore with absolutely no demand and high supply its price/worth is $0. That’s why companies go bankrupt with thousands of products but no one willing to buy them.
US laudering and charges 10%-20% or make the money disappear. What is new?????????
New is that the Chinese do it for 3% and the West can't compete.
...damn Chinese "overcapacity" 😂
"For the love of money, is the root of ALL evil"
Amen!
"Man cannot live on bread alone!"
The lack of money is the root of all evil, George Bernard shaw
Even money laundering has gone multipolar. No more American money launderers hegemony.
In india it is call hawala
Or angadia in some cases
Replace the words "Chinese brokers" by "American brokers". Then you have to real picture about the people of Wall Street who launder trillions of dollars.
Stocks
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Thank you, many returns
as does Wall Street…
The USA economy would be critically impacted without money laundering.
How does Wall Street launder funds? All transactions go through the financial system and all accounts require KYC + SoF?
@@johnmonrow9981 • Many people believe as you believe.
@@Cynthia-fx4we Name a single Wall Street Bank that openly launders money?
I understand getting this information out to the masses like this is a part of law enforcements strategy
This method of moving money across borders is known as "hawala." Its use was necessitated by the tight foreign exchange restriction in the sub-continent.
The Americans are new to this game. They will eventually learn. But that will take many centuries. They are still at the stage of squandering her money on her navy.
This system has been used in ancient China for centuries, Muslim countries have used this hwala system for ages. I believe many ethnics have this system. It's an ancient way of banking, nothing new, I'm surprised that they are surprised.
The War On Drugs has only made things much, much worse. More drugs than ever, Worse drugs than ever, More death, More addiction, More Corruption, More Terrorism, Millions of people in prison and we've blown a trillion dollars in the process. It's a lose/lose/lose situation.
Thats the Power of network when it cant be seen...
It's a personal choice.
“The questions are complicated but the answers are simple.”
I'm convinced this is the only use case keeping crypto alive.
100% agreed
I was thinking about this all the time. Millions of people are probably doing money laundering without knowing, without earning from it, and quite often losing money
American brokers are angels!
Always watching from Georgetown Guyana south America 🇬🇾🇬🇾
This is the best documentary I've seen like a movie
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
My CFA ’ANGELA LYNN SCHILLING’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
This is the hawala system, the islamic world have been using it for centuries, moving money easily throughout the world.
This is why I don't think they should talk about Chinese laundering money like Chinese are the only ones who are so "evil" because many have used it.
Money makes the world go round.
Okay Interesting episode 😮😮 Thank you for reporting 👏
The comparison of Overdose deaths to the Vietnam war is such a stupid statement. We lost good contributing members of society in Vietnam not a bunch of worthless drug heads who do it to themselves. Nobody forced them to take drugs, as a former opioid addict myself because of a doctor’s prescription! I made the decision that I wasn’t going to lower myself to buying off the streets when the prescription was gone! I wouldn’t allow a drug companies greed the power to destroy my life. Everyone who has died buying that crap off the streets had the same choice I did and they picked the easy road of continuing a destructive lifestyle. It’s sad for the families but they did it to themselves.
replace chinese with american and you got you self a honest video
This Video missed Vancouver BC. That city has a massive money laundering operation.
They missed Miami , and Panama!!! 🔥🔥
Melbourne Australia also.
As does the global banking system, everything cannot be "China's fault". Take responsibility for our country.
Global baking system couldnt to shite to Russia
We get it little pink, you have to comment to cover up for your corrupt government. Did you get your 50cent yet?
@@Firecracker876 hey tell your mom to brush her teeth tonight. Or else I’m only giving her 50 cents
Big business to smuggle Chinese into the US too.
So many constructive criticism/ comments, even better than the article itself.
Just to show that people are more educated today, more opinionated, and maybe even more knowledgeable, informed, willing to listen and understand the issues.
It's like Western Union for criminals.
The kettle calling the pot black. Who launders more money than the top three US banks?
CIA and Israel for their operations in Gaza. Shh...you didn't hear it.
Chinese duh
I make 500k a year. Mind you I have no children and zero debt. I have a six figure portfolio (Stocks, crypto crowdfunding real estate, savings, and CD's) it wasn't easy. I hustled, saved, and invested my money. I always tell people "Money can't fix stupid"
I was homeless, got into drugs went to prison, and then I got to know Jesus and he changed my life...Heaven came through for me in my finances too, getting $50,000 in 2months. I can support God's work and give back to my community. God is more than enough! Now I have a new identity and am a child of God
Very good video - thank you! I created a video on this topic for my channel a few months ago but sadly it did not have much success, which is a shame as I wanted to raise awareness about this problem across my community. I'm only a small UA-camr not the FT of course but still, I was hoping the YT algorithm could push it a little more to let more people know about this. With that said, I'm happy that at least your video is going strong on this so one way or another the voice on this issue is heard. Thanks again!
Great documentary. Thank you.
Not at all, the open flow is allowed by Biden, just look at the border.
Jesus christ the bot comments are getting out of control, the moment something about China is mentioned
yep they got the wumao budget for it, it's rampant.
Oh no, they are stealing London's customer base
THANK YOU VERY MUCH SIR. I AM STILL WITH YOU, YOU ARE DOING GREAT WORK AND I APPRECIATE YOUR WORK.
These are Chinese Govt. backed agensies.. this is how they work.. all black.. no remorse, no ethics.. only money.
8:40 Poorly explained. I don't understand how the brokers settle their transfers across borders? Surely at some point the brokers in the US, Mexico and China need to move the money to each other which would be the trickiest part of the laundering process. But that part is left out completely in the video. So it is a video about money laundering without the explanation about the actual laundering
Im quessing money that need to be loundered go through China as international trade or loans, but some just change hands inside US
They just need to match the incoming and outgoing amounts. As long as the demand for both sides of the trade balances, it will always be a nett trade. If there's too much of a supply on one side, it will just affect the price of the currency which is in big supply.
For example, if I have USD 1m which needs laundering into the mexican peso equivalent, I just have to contact my mexican counterpart and let him know I need pesos and to check if he has a USD buyer who is paying in Pesos. It can be a wholesale deal or in parts, just depending on the rate. If there isn't enough pesos on the other side, then the USD seller has to adjust his rates and eventually someone will trade pesos for all my USD stock. Just imagine it to be a forex trade, except the trades are executed in a very manual and labor intensive format.
It’s about containing China only… they r always beating around that same bush!
this is an anti china propaganda piece to justify snactions on chinese banks. China fought the opium war and has outlawed drug trade with the death penality. In the u.s drugs are legal.
It's not hard since there is a big Chinese population in both Californian states in Mexico, so it makes sense that the process works since the narcos don't have to leave the country to do it.
The only difference between legal and illegal, is paperwork. If it's taxed or profited by investors, and politicians it's legal. If the same thing is done under the table, it is illegal.
💯% The only thing that bothers them is that they are not getting their cut.
In my opinion, housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you're careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn't king at all in this time!
You are right! I've diversified my portfolio across various markets with the aid of a financial adviser, I have been able to generate a little bit above $450k in net profit across high dividend yield stocks, ETF and bonds.
I have been thinking about how to grow my reserve by at least 40% or more within months. I will be grateful if you can give tips or anything on how to make good market picks and how I can get my portfolio diversified and balanced in order to meet up my target.
Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.
Impressed by the entrepreneurship of the money men. Isn’t it just underground international banking?
Of course bro there are codewords to buddy like blood money, goat etc etc they have there own dictionary to 😂😂 ...
We’re the biggest crime syndicate on earth…
Yup. And now China's our banker!
@user-rk9it9hz6g there’s too much hypocrisy in America for me buddy that 💩 is choking all of us out. Not to mention, these “news” outlets have 0 self awareness.
London, Hong Kong, Zurich: laundromats of the world!
Miami new York london and the list goes on 😮😮
So they beat the Europeans and now they are crying……
Its so funny how they try the hardest to make it like a movie 😂😂
YOUR LIVE TRADING SESSIONS ARE SO HELPFUL! IT'S GREAT TO SEE YOUR STRATEGIES IN ACTION AND LEARN FROM YOUR DECISION-MAKING PROCESS.
I'm a Police officer and I'm tired of taking these reports where people are scammed anywhere from 100 to seriously $50,000. It's quite unfortunate tho, Grind Techiei Seriously thank you for flagging down these swindlers. You make me want to spend my next ten years learning how to do thïs
AML checks need to evolve. And banks need to do their part. Money might not have moved internationally but it still has moved from one party to another, often via bank accounts. As a banking customer you must have viable, provable reasons for significant movements of money in/out of your account. If you can't provide a valid proof, it should be liable to be being seized by authorities.
Why should you have to justify moving your own money?
@@joshradcliffe8563 Bec govt wants you to show it is your money
What is troubling is that there is a movie by Brandon Lee and duff something specify this exact scenario situation back in the 90s. So it's not like were just finding out because somebody new over 20 years ago
I think the new aspect is how the currency swaps don't actually involve moving any money. RMB only circulate within China, and USD only circulate within the US, but still everybody manages to move their money across borders.
The war on drugs has failed. As with the prohibition of alcohol, it didn't stop the problem, and it empowers black markets, organized crime, and corruption in policing.
Right... Blame the Chinese for the drug crisis in united states...
The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or real estate to achieve this goal?
Varied sources of income is wise and especially living within your means. My net worth is $2M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.
Money advice is subjective, what works for you may not work for someone else, but it's always better to plan. I'm quite lucky exposed to personal finance at an early age, started job 19, bought first home 28, got laid-off work 36 amid covid-outbreak, and at once I consulted an advisor to handle growing my finance. As of today, I'm only 25% short of my $1m goal after subsequent investments.
bravo! inherited money from a childless relative and traveled overseas, got married to a lady almost my age, but the only issue is how to preserve and grow my wealth in view of retirement, can your advisor be of help please?
I work with Jessica Lee Horst as my licensed advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
Thank you for sharing, I must say, Jessica appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
Knew of folks who did this in Shanghai, tons of money leaving the country for US, Australia, EU. Folks fleeing with assets like their lives depended on it.
Another reason why the CNY goes down (in addition to FDI plummeting and decoupling), despite Xi's ambition to kill the USD.
When the Chinese placed a mole inside INTERPOL in France for a full term in office. WHAT THE HELL DO YOU EXPECT !!!!!
Such outstanding humans!
For those interested. When the video gets to 29.30 min watch Blinken very carefully.
What's the difference between money laundering done by Chinese and helping to overthrow the legitimate governments with the help of the us governments.
Lol FT hit piece. Remember this is the same org that told you Russia was running out of weapons in 2022. Is this part of the $90 billion media campaign against China set by the US😂
Did you get your 50cent yet little pink?
@@Firecracker876 not yet. Waiting till I get $1 since your mom raised her prices recently. Business is 👍 for her 😂. She’s been getting a workout.
China says hi, and thank you USA. There's also a fresh batch of Fenty on the way to your streets. It's just arrived in Canada
A question I have is how criminals will transact their business once nations and entities implement the rollout of CBDCs, removing cash from the system.
Use Tether /DAI or Monero ,Not use CBDC
Many ways.
Assuming CBDCs are implemented, there's no reason to think the elimination of cash would follow. At least the US dollar wouldn't go anywhere (the fact the penny still exists is evidence of that).
@user-rk9it9hz6g Correct answer 😂
i cant wait til they put an expiration date on my CBDC or revoke it cause I said mean words on twitter
In Pakistan we call it the Hawala system.Majority of overseas Pakistanis send remittances through Hawala channels so that the transaction is not traced and tax is not deducted from it.
guess when Opium production in Afghanistan beat its records? the same time America was there!
In India this was called HAWALA laundering system/network. It has been clamped down now.
A payment system like UPI is really needed for traceability and any transactions in cash should be penalized.
If you say so! 😂
Hang on...the whole story was not explained. Chinese want to move 1 Million USD equivalent of Renminbi out of China. In the UK a Chinese broker "gets his funding from a drug cartel wanting to launder money"...I do not get it...what is the use of Renminbi to a drug cartel in Columbia? Makes no sense at all to me. Interesting though it is, it is clear that the entire story is not elucidated in this very interesting program. The fact remains that there has to be bilateral or even trilaterial interest in currencies or assets in different jurisdictions for this to work. If I pay 1.1 Million USD equivalent of Renmimbi to someone in China and I received 1 Million USD in the UK, someone in China has the issue of dealing with the Renmimbi...the story does not add up.
I think it can work IF:
Chinese govt. don't check how a medical company make their money. If they make fentanyl or illegal Wegovy, what does that matter for China as long as they sell to west?
Then the physical USD bill is "smuggled" into China, and the bills are changed into RMB by chinese govt. which then financies the import compagnies in China, buying iPhones, Mercedes, airplanes, US treasuries with USD from export of fentanyl and fake Wegovy.
It should be possible to verify if this is the method, by totalling the import and export between US and China: does it balance. Which is extremely difficult to do
how can they explain it properly when they have no idea how it works. It doesnt add up because the reporters are clueless. As clueless as the cops who barely finished high school. CIA probably knows and they are a part of it.
It works because Renmimbi is valuable within China and used to buy everything. The chemicals exported from China that are used in Mexico to make the fentynal are ultimately paid for with USD on the streets of USA where Chinese people want the money. The Renmimbi is used in China to make the chemicals for export.
So banks are bad if they aren't *YOUR* banks?
Aight
Great reporting.
Great reporting. Very facts based.
Investigations like this are greatly needed.
More people need to know about this information.
watching this video is like watching mafia bosses complaining the orphanage took their money to feed the children of their victims..
Underground bank = 地下钱庄
Mirror transfer = 对敲交易
The wealth of the wicked is heaped up for the righteous. Proverb 13:22
Ray Donovan already has a 7 season show about him, a true legend
Panama papers, Pacific Papers - yet there is complete blindness in that area. What the govt does not like is arbitrage - gone are the good old days of setting gold prices and exchange rates. And if you are huge, you can play the futures and derivative markets via sham companies.
The good ol days when London laundered all the drug money...ffs, the Chinese.
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Switzerland and Albany is pissed now!!!
And C.I.A😅