In today's version of China is asshoe...

[JamieDimonsBalls]

https://archive.ph/daXpN

The underground banks operate largely by selling the cartels’ dollars to wealthy Chinese who, alarmed at the political tightening under Chinese leader Xi Jinping, are looking to circumvent capital controls and transfer their money out of the country.

In essence, the officials claim, a new global money laundering network has evolved that marries two powerful financial forces — the huge stockpiles of cash being accumulated by the Mexican drugs cartels from selling drugs in the US, and the rapidly growing volumes of capital seeking an escape route from China.

“Chinese money launderers have taken over laundering for the Mexican drug cartels,” says Chris Urben, who worked at the DEA for 24 years, investigating traffickers around the world. This alliance, he adds, is “amazing to watch . . . a game-changer”.

 

[BradStevens]

https://archive.ph/daXpN

The underground banks operate largely by selling the cartels’ dollars to wealthy Chinese who, alarmed at the political tightening under Chinese leader Xi Jinping, are looking to circumvent capital controls and transfer their money out of the country.

In essence, the officials claim, a new global money laundering network has evolved that marries two powerful financial forces — the huge stockpiles of cash being accumulated by the Mexican drugs cartels from selling drugs in the US, and the rapidly growing volumes of capital seeking an escape route from China.

“Chinese money launderers have taken over laundering for the Mexican drug cartels,” says Chris Urben, who worked at the DEA for 24 years, investigating traffickers around the world. This alliance, he adds, is “amazing to watch . . . a game-changer”.

View embedded media

Interesting twist:

The FBI has warned that in some cases, Chinese students pay for tuition at US universities with cash that has been laundered. These transactions must be reported to the US Treasury if they involve sums over $10,000, but were not necessarily flagged as suspicious by the department, DEA officials said.

 

[VanPastorMan]

Interesting twist:

The FBI has warned that in some cases, Chinese students pay for tuition at US universities with cash that has been laundered. These transactions must be reported to the US Treasury if they involve sums over $10,000, but were not necessarily flagged as suspicious by the department, DEA officials said.

Were they not flagged because DEA officials were being paid off? That can be a real issue. If laws are not enforced equally then we don't really have a free country.

 

[JamieDimonsBalls]

Were they not flagged because DEA officials were being paid off? That can be a real issue. If laws are not enforced equally then we don't really have a free country.

It was the Treasury, not DEA making the determination and likely, payments to institutions of higher learning were not considered sketchy. I wonder (hope) that has changed, given these statements.

 

[BradStevens]

It was the Treasury, not DEA making the determination and likely, payments to institutions of higher learning were not considered sketchy. I wonder (hope) that has changed, given these statements.

I'm still trying to follow the diagram of how the money is moving around and how it is laundered and how the Chinese can't follow the money leaving China.

And how I can figure out where the drops are going down and swoop in and snatch a bag with $60k in it.

 

[Hoopsdoc1978]

I'm still trying to follow the diagram of how the money is moving around and how it is laundered and how the Chinese can't follow the money leaving China.

And how I can figure out where the drops are going down and swoop in and snatch a bag with $60k in it.

Have you never watched no country for old men?

 

[JamieDimonsBalls]

And how I can figure out where the drops are going down and swoop in and snatch a bag with $60k in it.

 

[BradStevens]

Have you never watched no country for old men?

One of my favorite movies of all time.

I wouldn't have gone back to give the guy water.

 

[hoot1]

https://archive.ph/daXpN

The underground banks operate largely by selling the cartels’ dollars to wealthy Chinese who, alarmed at the political tightening under Chinese leader Xi Jinping, are looking to circumvent capital controls and transfer their money out of the country.

In essence, the officials claim, a new global money laundering network has evolved that marries two powerful financial forces — the huge stockpiles of cash being accumulated by the Mexican drugs cartels from selling drugs in the US, and the rapidly growing volumes of capital seeking an escape route from China.

“Chinese money launderers have taken over laundering for the Mexican drug cartels,” says Chris Urben, who worked at the DEA for 24 years, investigating traffickers around the world. This alliance, he adds, is “amazing to watch . . . a game-changer”.

View embedded media

Wow, finally there is something with which both the U.S. and China governments have a common interest to cooperate.

https://archive.ph/daXpN

The underground banks operate largely by selling the cartels’ dollars to wealthy Chinese who, alarmed at the political tightening under Chinese leader Xi Jinping, are looking to circumvent capital controls and transfer their money out of the country.

In essence, the officials claim, a new global money laundering network has evolved that marries two powerful financial forces — the huge stockpiles of cash being accumulated by the Mexican drugs cartels from selling drugs in the US, and the rapidly growing volumes of capital seeking an escape route from China.

“Chinese money launderers have taken over laundering for the Mexican drug cartels,” says Chris Urben, who worked at the DEA for 24 years, investigating traffickers around the world. This alliance, he adds, is “amazing to watch . . . a game-changer”.

View embedded media

JDB, so are we to believe it is rich Chinese businessmen who are avoiding the Chinese government oversight and are working with the Mexican drug cartels ?

On top of that, Chinese banks are part of the scheme.

Heretofore, it was supposedly the Chinese government working with the cartels to supply fentanyl to U.S. citizens.

What is really going on here ? Am I missing the boat with my recap?

 

[BradStevens]

Wow, finally there is something with which both the U.S. and China governments have a common interest to cooperate.

JDB, so are we to believe it is rich Chinese businessmen who are avoiding the Chinese government oversight and are working with the Mexican drug cartels ?

On top of that, Chinese banks are part of the scheme.

Heretofore, it was supposedly the Chinese government working with the cartels to supply fentanyl to U.S. citizens.

What is really going on here ? Am I missing the boat with my recap?

The "Chinese banks" aren't real banks, they are de facto illegal operations, I think.

Yes, it's the Chinese individuals they are talking about helping launder the money. Not sure that bears on the supplier of the fentanyl.