Jump to content

China the monster.


kahuna1

Recommended Posts

From Bloombergs

 

Goldman Sachs Group Inc. is inching closer to becoming the first Wall Street bank with 100% ownership of its securities joint venture in China, paving the way for an aggressive expansion as the Asian nation opens its $50 trillion financial market wider to foreign firms.

 

The New York-based bank has started the process of getting clearance from regulators to take full control of Goldman Sachs Gao Hua and signed a definitive agreement with its partner to buy the 49% of the venture it doesn’t own, according to an internal memo. A Hong Kong-based spokesman at Goldman Sachs confirmed the contents.

 

The move will end Goldman Sachs’ 17-year collaboration with Beijing Gao Hua Securities and gives the firm free rein to pursue an expansive growth strategy that includes boosting its workforce in China to 600 and ramping up in asset and wealth management. Wall Street giants are rushing to gain a bigger foothold as China’s market opens, jostling to capture a share of profits that are estimated to swell to $47 billion in investment banking alone by 2026.

 

Full ownership “of our franchise on the mainland represents a significant commitment to and investment in China,†Chief Executive Officer David Solomon, President John Waldron and Chief Financial Officer Stephen Scherr said in the memo.

 

The internal announcement comes amid rising tension between China and the U.S., with sanctions being imposed on a string of Chinese officials and restrictions on investments. U.S. lawmakers have also started to question the push by big banks into China, which is counting on investments to help transform its export-led economy.

 

Others are also gunning for full ownership, including JPMorgan Chase & Co., which last month boosted its stake in its venture to 71%. JPMorgan has already obtained approval to take full ownership of a futures venture in the country.

 

I find this very instructive.

The mega banks obviously think that they will be able to achieve their aims in China, and that the incoming administration will be far more amenable to China than the Trump administration.

Well you can probably guarantee it. Given the impunity with which the commercial banks have acted in the past, I would fully expect that the ex commercial bankers coming into the administration will serve their previous masters well.

Policies and relationships will change so as to benefit the banks interests.

But then i am probably as guilty as plastic in my conspiracy theories.

Mick

Link to comment
Share on other sites

  • Replies 1.8k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Posted Images

Australia is getting upset with the CCP's bullying which it should........ however I thought it was great when they went to ban our coal exports.

 

Now our taxes are being used to send coal to India

https://www.abc.net.au/news/2020-12-16/futu...roject/12984734

But one only needs to look at the big picture

https://www.abc.net.au/news/2020-12-16/arct...s/12961584?nw=0

to see that Australia is one of the worst global citizens on the planet. We are being excluded from global climate change conferences and will be excluded from many other forums in the future if we dont change our ways right now. The Labor party say they are going to try to help stop climate change, yet it is one of their politicians who are bending over backwards to Adani (see future fund article above). It doesn't matter which side of the fence you sit on in Australian politics, they are both leading the country to a place where we wont be involved in future global decision making.

 

Our country will deserve lots of bullying from many nations in the future... especially from our low lying Pacific neighbours. Byron Bay beachgoers might join in too, now that they have just lost most of their beach.... let alone all the bushfire victims from last summer.

 

Link to comment
Share on other sites

Australia is insignificant on a global scale. ~0.3% of the worlds population. I once got in a heat discussion with a global company product head, and was telling him, their product needed to be modified for Australia (I was a foreman at a car dealership, sick of losing my bonus and being on award wages fixing their f ups): I was put in my place quick smart: "Australia is 1% of the global car market, we are NOT modifying a vehicle for you".

We literally have no right to be at these 'global policy' meetings, telling other nations, how to run their business: These other countries have problems that would melt poor old scomo's PR machine in days. The reason Australia can be impacted by flood, fire, hurricane, earth quake, land erosion etc etc in one year is because we are so big geographically.It's basic maths. It almost certainly is NOT man made 'climate change'.

As predicted by my inside investor mate, the fossil fuel companies are now getting paid by governments all around the world, and they will be paid to shut down their fossil fuel operations... Think very carefully about what is going on here: Rich people are getting paid to stop their operations... If it was a real problem, they would have quietly sold out years ago, got their capital and moved on... No, they were able to get power in government, and get paid to stop operations: It is a huge, huge scam.

Al Gore was the one who triggered many people... some drank his cool aid, the others asked, 'whats in it for him'... Well, it's blood and gore. Go research that.

I've got a feeling that climate change is not in Australia's top 5 problems... I've got a nasty feeling about where this China stuff is going... Keep your friends close and your enemies closer... and I think Australian's mistook China for a friend: Hope I'm wrong on this. And I hope USA is there when we need her.

It's all a great joke on hard working families and small business owners: We live on the most energy rich continent per capita on earth: yet we pay the highest power prices in the world..... All while China commission new coal powered stations.

 

We've pushed low income earners and the poor in Australia into a place where they're scared to use heaters and air conditions because of the cost, but 'oh we use renewable energy'... while china continues to open new stations: Some sources say they're planning another 300.

 

You know what really is mindblowing? The fact that C02 from fossil fuels is a vital component of everything we do: It is literally the food for all plant life... Nature cleans it up.yet here we are, 25 years into the solar panel boom, they are now failing on mass, reaching end of life.

And no one knows how to recycle them.

The go to land fill.

What environmental damage was done to build a solar panel....And now, it's just junk, filling in a hole, most likely poisoning the ground water, leaching lead and other chemicals into the soil...

C02 gets turned into plants..

Think I'm joking?? In EU, big corporates are paid to 'capture carbon'. You know what they do with it? They pump it into high intensity green houses for crops, it makes them grow like mad: yields through the roof..

Think about it: Rich corporates taking government money to speed up crop growth and increase yield...

LOL.

And the suckers on the street are paying for this, and thinking they're doing the right thing.

LOL. The matthew effect at work: The rich get richer, the poor get poorer.

You can't make this stuff up.

 

Link to comment
Share on other sites

Well I certainly won;t disagree with you about the rich getting richer and the poor get the picture and the dodgy games that go on behind the scenes. However I absolutely disagree with you on climate change, it is already well in Australia's top 5 problems without a doubt. This problem has exponentially grown for a few decades now and you deniers are asleep at the wheel. We wont argue over it, I knew all about it well before Al Gore pitched in with his spot on movie. Meteorology is my field of expertise and 99.99% of us are all very worried. Your future generations are about to suffer immeasurably unless you all wake up and change, which is very hard for most folks to do.
Link to comment
Share on other sites

Never said that... I openly admit I need to make more changes too. The wealthier one is, the easier it is to change and basic psychology shows that anyone that is not comfortable financially will not give a shit about climate change.... they have bigger problems to deal with to get through day by day. This is why I it is important for Australia, A Wealthy Country, to start taking the lead and not keep saying we are less than 1% of the world so what can we do. It is very important for countries who are well off to use technology, science and our diverse mineral wealth to be at global forums and discussions.

I am just a middle class nobody, but perhaps people like Andrew Forrest, Bill Gates (Al Gore certainly did) do think how their efforts may make positive change to a better world. FMG starting to move into hydrogen may turn out to be a good example of this. At the very least, its way too late to be denying the existence of climate change now.

 

Link to comment
Share on other sites

Haha, I knew I'd get a bite :)

This problem has exponentially grown for a few decades now and you deniers are asleep at the wheel. We wont argue over it, I knew all about it well before Al Gore pitched in with his spot on movie. Meteorology is my field of expertise and 99.99% of us are all very worried. Your future generations are about to suffer immeasurably unless you all wake up and change, which is very hard for most folks to do.

Exponentially??? C'mon you're joking. Perfect robot answer: Even chuck the old 'about to suffer immeasurably' call to action in. LOL. You guys been screaming end of world for 40+ years now. Same as the end of oil... guess what? they keep finding the crap. And the only reason the price ever goes up is because of supply cuts: If it was a true open market, god knows how cheap it would be.

"howard is asleep on climate change'... 13 years later is my life any worse? Nah, probably better, the ozone layer is nearly repaired.

 

You see the real problem is you say your background is meteorology. You're a scientist... Yet ask my brother in law, operating a multimillion dollar farming business what he thinks of you guys.

For 40+ years you've screamed end of the world.... Yet you guys can't even get a 3 day forecast right, let alone a 7 day. Much less a month or a season!! You try to predict the future of the entire global system??? You can't even get a city right.

 

Then there's the science thing: What is the key thing about science? Equilibrium.Yeah, too much c02 in the atmosphere? plants will grow faster.Too much c02 in the atmosphere should be SLOWING fires, because of the reduced oxygen concentration.Cars that rely on oxygen for combustion must be struggling with the lack of oxygen in the environment then right??

etc etc

CO2 isn't the enemy you're being lead to believe.

Pollution is the enemy: Plastic, mercury, lead, etc etc.

***I note no one offered a comment on how to recycle the dead solar panels*** Funny that... I guess robotic answer will come eventually when enough people start asking these questions.

 

I'm sick of being told to shut up about this: I'm calling it for what it is.

Total and utter lip service from a few vested interests that line their pockets.

EG Branson: how dare he talk about climate change when he holds a significant stake in the entire global CO2 machine that is jet engines. Sell out, do something usefull with that capital... Nope.

Al gore, is just a PR for 'action'... all he invests in via blood and gore is green tech, in a hedge fund of all things: A pump and dump machine. I'm not even gonna try to google how many billions his companies have received in 'subsidies' and 'research grants' and exemptions from usual laws, taxes and regulations. I bet he's not donating extra to the government to speed up climate action..... Think about this stuff.

 

The hypocrisy is astounding, yet completely UNQUESTIONED.

It has permeated even the most intelligent individuals, the EV 'revolution' is a total farce. From the lack of elements on the face of the earth to be able to electrify the grid, to the absolutely mindblowing KWh needed to move these vehicles.... The greenies kick up a fuss about the power use of Bitcoin, but never, ever, ever question how joe bloggs is gonna get 30KWh, every day to drive to work... never mind heating/cooling his house, cooking, watching tv, powering his computers, his phone .... A complete utter joke. That's a 10kw solar system (how many consumers seriously have that?) with 3 perfect hours at 100% efficiency.... Drop it to a 5kw system (still big) and you need 6 perfect hours....

A total total joke and piss take on the tax payer.

At the end of the day, other than gravitational energy, there is no such thing as a free lunch: All energy on earth comes from the sun.The best 'renewable' energy we have is when the sunlight is stored as energy by converting hydrogen and carbon into a hydrocarbon... Natures own store of energy, a freaking natural battery.....

 

The exact source of energy the 'greenies' want to stop using.

Massive facepalm.

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...