“Twenty-five bullion processors in China, the biggest producer and consumer of gold, made a combined profit of more than 900 million yuan from the loans, according to a report on the National Audit Office’s website. Public security authorities are also probing alleged fraud at Qingdao Port, where copper and aluminum stockpiles may have been pledged multiple times as collateral for loans. Steps by the Chinese government to rein in credit by raising borrowing costs in recent years created a surge in commodities financing deals that Goldman Sachs Group Inc. estimates to be worth as much as $160 billion.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
The World’s Richest Country
Rising Hops Prices Make Craft Brewers Jumpy
Steve Wozniak: Snowden ‘Is a Hero Because This Came From His Heart’
The Talented Mr. Lew
Nine current and former Philadelphia Traffic Court judges charged in probe
Don't just legalize marijuana, free prior offenders
Napolitano, Graham: U.S. needs more technological entry and exit controls
State Department criticizes Google CEO’s North Korea visit
Saudi Arabia's Secret Holdings of U.S. Debt Are Suddenly a Big Deal
New evidence gold on Earth created by ancient collision of dead stars in outer space
China sees record capital inflows, considers Tobin tax
Obama announces proposals to reform NSA surveillance
U.S. Marshals lose track of 2,000 encrypted two-way radios
Spain To Ban Photos of Police on Duty
Cops Strip Search Mom, "Forcibly" Pull Tampon Out of Her for Stop Sign Roll