Monthly Archives: August 2015

The powerful countries that are buying up much of the world’s land

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“China, home to 20 percent of the world’s population but only 8 percent of the world’s arable land, has gone abroad in search of farmland.  In Africa alone, Chinese ‘friendship farms’ grow cabbages in the Democratic Republic of Congo, raise fish in Angola, or harvest sesame seeds, cashews and peanuts in Mozambique.  These purchases are often described as a kind of neocolonialism unique to China.  So it might surprise you that the U.S. and the U.K. are basically on par with China when it comes to buying and leasing land in other countries.  Most of the world’s countries had bought or sold land internationally as of 2012. But the trade is dominated by China, the U.K. and the U.S.”

http://www.washingtonpost.com/news/wonkblog/wp/2015/05/21/rich-countries-are-buying-up-farmland-from-poorer-ones-around-the-world/

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Beef, big bucks and buy-ups: are Chinese investors changing the face of Australia?

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“The arrival of the Chinese as serious buyers into Australian agriculture coincides with the Abbott government dramatically raising the scrutiny of their farmland purchases.  It has slashed the threshold for Foreign Investment Review Board screening of agricultural land acquisitions by Chinese from $248m to $15m, which has focused new attention even on deals at the modest end of this space. The government has also tasked the tax office with collecting all data on foreign ownership of farmland, with a view to compiling a register next year.  These moves come well on the heels of Europeans, Americans, Japanese and Koreans acquiring great swaths of Australian agriculture.”

http://www.theguardian.com/australia-news/2015/aug/06/beef-big-bucks-and-buy-ups-are-chinese-investors-changing-the-face-of-australia

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Australia: Sending mixed messages to China

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“Australia is sending very mixed messages to potential investors – because it’s one set of rules for some, and another for others.  These tighter new foreign investment rules apply to investors from countries that have recently signed Free Trade Agreements (FTAs) with Australia, such as Japan, Korea and China. But they don’t apply to countries with older FTAs such as the US, New Zealand and Chile. Investors from the latter countries only need to seek approval if their purchases of Australian rural land or agribusinesses exceed A$1.09 billion. That’s 73 times the threshold facing Chinese investors for rural land and 20 times that for agribusinesses.”

http://theconversation.com/playing-the-china-card-may-win-votes-but-its-bad-for-australia-39364

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Australia Orders More Foreign Homeowners to Sell

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“Several foreign owners of residential property across Australia have been ordered to sell as the government intensifies its crackdown on the abuse of homeownership laws by buyers from China and elsewhere.  Treasurer Joe Hockey said foreign investors have been ordered to sell six properties in the cities of Sydney, Brisbane and Perth.  The treasurer said he expects more divestment orders will be announced soon, and promised to increase penalties for those who break the rules. The conservative government is under pressure to make housing more affordable, and rein in surging investor buying that some fear may push the market to unsustainable levels, causing a crash.”

http://www.wsj.com/articles/australia-orders-more-foreign-homeowners-to-sell-1439024595

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Chinese Brokers Now Selling Margin Loan-Backed Securities

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“Now, the PBoC will look to supercharge efforts to re-engineer a stock market bubble via leverage by pushing brokerages to issue ABS backed by margin loans.  If brokerages simply offload the margin loan risk to investors and use the proceeds to fund still more margin lending which can also be turned into still more ABS, and so on, then the effect will be to pile leverage on top of leverage. What happens in the event the underlying stocks become completely illiquid (i.e. Beijing decides to suspend trading on three quarters of the market again)?  The punchline: the senior tranche (which accounts for CNY475 million of the total CNY500 million deal) is rated AAA.”

http://www.zerohedge.com/news/2015-08-08/peak-insanity-chinese-brokers-now-selling-margin-loan-backed-securities

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China Tells Investors: Go Ahead, Bet the House on Stocks

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“In China, you can now literally bet the house on the nation’s tumultuous stock market.  Under new rules announced Wednesday by the country’s securities regulator, real estate has become an acceptable form of collateral for Chinese margin traders, who borrow money from securities firms to amplify their wagers on equities. That means if share prices fall enough, individual investors who pledge their homes could be at risk of losing them to a broker.  The rule change was intended to help revive confidence in China’s $7.3 trillion stock market, down almost 30 percent in less than three weeks. Accepting real estate as collateral would tether brokerages to another troubled sector of the economy.”

http://www.bloomberg.com/news/articles/2015-07-02/china-to-individual-investors-go-ahead-bet-the-house-on-stocks

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China currency devaluation hits stocks; dollar gains on currency war fears

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“China’s 2 percent devaluation of the yuan on Tuesday pushed the U.S. dollar higher and hit Wall Street and other global equity markets as it raised fears of a new round of currency wars and fed worries about slowing Chinese economic growth.  U.S. stock indices dropped more than 1 percent and stocks also fell in Asia and Europe as investors contemplated the implications of a move designed to support China’s slowing economy and exports. Companies that sell to China were hit hard, with heavy equipment maker Caterpillar losing 3.13 percent and Germany’s Volkswagen dropping 4 percent. Energy and materials shares also tumbled on China demand concerns.”

 

http://www.reuters.com/article/2015/08/11/us-markets-global-idUSKCN0QG00F20150811

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DOJ: Drug Traffickers Easily Circumvented TSA For Years

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“Fourteen people were charged Monday with perpetuating a drug ring that smuggled suitcases full of marijuana onto airplanes, including three baggage handlers at Oakland International Airport.  The handlers allegedly snuck suitcases full of marijuana through special areas off limits to passengers where they could circumvent TSA screening. The handlers then allegedly used their security badges to go through a door to the main terminal area where they would hand off the suitcases to waiting accomplices who would take them as carry on luggage to their destination.  The operation had been running smoothly since as far back as July 2012.”

http://dailycaller.com/2015/05/19/doj-drug-traffickers-easily-circumvented-tsa-for-years/

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TSA contractors charged in drug smuggling scheme at SFO

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“Two TSA security contractors arrested by FBI at San Francisco international airport, along with a third suspect involved in the scheme, face life in prison for smuggling large quantities of methamphetamine through screen points. The two Covenant Aviation Security employees and a smuggler, 28-year-old Anibal Giovanni Ramirez, face a minimum 10 years and a maximum life sentence, and fine of $10 million.  The FBI investigation believed that Ramirez allegedly paid off the two security screeners at SFO, who allowed him to take drug-loaded luggage on a flight to Hawaii. The investigation also believes that the trio used Facebook to arrange the crime.”

http://www.rt.com/usa/238617-tsa-sfo-drugs-arrests/

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After leaf blower scare, security checks now on the bill for movie theaters

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“As many as three men sparked a stampede at the theater by brandishing a leaf blower that some mistook for a chainsaw.  In response, some movie chains in Orange County are beefing up security. Bags are being searched, pre-movie safety messages are aired and, in at least one theater in Southern California, metal detectors are deployed.  Security is an issue for at least some movie fans. A recent survey of moviegoers by the research firm C4 for Variety found about one-third wanted theater lobbies to have both an armed guard and metal detectors. Nearly a third also wanted bags searched.  Law enforcement in Orange County said Monday they are keeping an eye on movie theaters.”

http://www.ocregister.com/articles/theater-676964-movie-people.html

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