War On Terror Meets High Finance
For all you Ken Follett
In 2005, the U.S. government suspected a Macau bank of laundering North Korean funds. Under the global jurisdiction of the Patriot Act, the U.S. froze $25 million of the bank’s North Korean assets. This week, North Korea announced they want their money back, or else the country’s nuclear program will continue.
However, North Korea insists they be reimbursed through a private bank, and nobody wants to be the guy signing the check. “No bank is willing to help return the money to North Korea,” reported NPR this morning. “Banks fear helping North Korea would taint the banks in the eyes of the U.S. Treasury Department, even though the request came from the U.S. State Department.”
An unnamed Las Vegas casino may stage a buyout of Banco Delta Asia (the Macau bank that currently holds the frozen assets) in order to refund the money. And what does it gain in the transaction? An almost impossible-to-get Macau gaming license.
Macau is rapidly becoming the world’s gambling capital. Gambling is illegal in Chian except for Macau, so the chinese are flocking there. According to the Pacific Asia Travel Association (PATA), Macau’s tourist receipts are projected to rise from US$2.87 billion in 2003 to US$7.37 billion by 2010. Check out the Wynn Macau and the Venetian Macao to see how much they’ve spent on their casinos.
Maybe its time to invest Macau?
If you found this post helpful, consider donating to my coffee fund!![[del.icio.us]](http://images.del.icio.us/static/img/delicious.small.gif){kind=small}
- Got My First Oil Check I got my first oil revenue check today! It was for a whopping $35.12!!!! At this rate it'll take 30 years to get my money back! Its for a project where they're drilling 10 wells in the Gulf of Mexico.To be fair the operators had told me not to expect......
- Hedge Fund Profits Go Up In Smoke They say those that forget history are doomed to repeat it. [They also say history never repeats, it only rhymes].A hedge fund called Amaranth reportedly lost about 4.5 billion in 2 weeks when a 32 year old trader apparently bet the farm on natural gas futures. When you have a......
- How The Carry Trade Really Works Here's a really, really good video on how the carry trade works and what implications it has on global asset prices and the global financial stability.I think the carry trade will have to reverse at some point in the near future. Trees do not grow to the skies and financial......
Related Websites
- Opportunities And Risks Of Earning On The World Wide Web Looking for the new ways to gain money people very often apply to the new ways of gaining stuff that are of great popularity in the society. People very often are trying to start to earn money in the internet. Accordingly, to the investigations the majority of people on the......
- North Korea warns intercepting 'satellite' will prompt counterstrike North Korea warned Monday that any move to intercept what it calls a satellite launch and what other countries suspect may be a missile test-firing would result in a counterstrike against the countries trying to stop it. "We will retaliate (over) any act of intercepting our satellite for peaceful purposes with......
- Facts about North Korea [/caption] Via: Online Schools North Korea, officially the Democratic People's Republic of Korea (DPRK), is a state in East Asia, occupying the northern half of the Korean Peninsula. Its capital and largest city is Pyongyang. The Korean Demilitarized Zone serves as the buffer area between North Korea and South Korea.......
[All content is copyright of Living Off Dividends & Passive Income]
Leave a Reply