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General News    H3'ed 9/1/19

Holders of Old Chinese Debt Hope Trade War Means Huge Payday - Bloomberg

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“Defendants falsely represented to these investors that the bonds were safe, risk-free, worth tens, if not hundreds, of millions of dollars, and could be sold to third parties,” the SEC said in its complaint. “In reality, the bonds were mere collectible memorabilia with no investment value.”

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At www.bloomberg.com

 

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molly cruz Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Born in Long Island public school year in Sweden as exchange student, went to Harvard one year, Cooper Union in NYC as Art student. Have two children, one of whom is rock mogul, the other has three daughters, one of whom has two daughters, making me (more...)
 
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molly cruz

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Well who knew? Here's an angle to international economics I bet never entered your mind. There was a time when Americans were pouring money into China to encourage their status as trading partners. Hmm.....

Submitted on Sunday, Sep 1, 2019 at 4:43:03 PM

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Derryl Hermanutz

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Good luck cashing in those obsolete bonds. When the US conquered Cuba, the new US administration defaulted on Cuba's bond debts owed to Spanish banks and investors under the premise that the debts were "odious"; which means the borrowed money was used to secure the power of Cuba's ruling Spanish regime, and not for the benefit of the country. When the South lost the Civil War, the South's paper money (greenbacks) became worthless as "money", though it still has collector value. China had a revolution that ousted the previous, and now considered "illegitimate", old regime. Modern China is not going to pay odious debts owed by the now non-existent pre-communist regime.

Submitted on Sunday, Sep 1, 2019 at 10:13:16 PM

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Derryl Hermanutz

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Good luck cashing in those obsolete bonds. When the US conquered Cuba, the new US administration defaulted on Cuba's bond debts owed to Spanish banks and investors under the premise that the debts were "odious"; which means the borrowed money was used to secure the power of Cuba's ruling Spanish regime, and not for the benefit of the country. When the South lost the Civil War, the South's paper money (greenbacks) became worthless as "money", though it still has collector value. China had a revolution that ousted the previous, and now considered "illegitimate", old regime. Modern China is not going to pay odious debts owed by the now non-existent pre-communist regime.

Submitted on Tuesday, Sep 17, 2019 at 10:18:35 PM

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