America’s Secret Cyber War and China’s Con Game (56 mins.)
Two podcasts of Newt’s World, episodes 35 and 38, curated by Dennis Prager’s American Conservative University and released on Nov. 29, 2019.
Newt Gingrich talks with Dan David, founder and CEO of due diligence company Wolfpack Research, and investor Ray Snader in China’s Con Game.
Every one of these 30 companies are frauds.
Dan David about 30 Chinese companies listed on NYSE and NASDAQ
An alarming majority of Chinese companies listed on NASDAQ are completely shell companies only temporarily peopled during official inspections. There is no recourse for American investors and American investment companies according to Chinese law. “Well, they said it was a good investment” is no longer adequate if you have directly or indirectly bought these stocks.
It’s still not illegal to steal from American investors.”
Dan David about American losses from Chinese companies’ fraud
Two articles on Yahoo Finance and Reuters address other ways Chinese companies do business less ethically than American business practice and expectations.
Act
Reexamine your individual investments to make sure they are not at risk from fraud in China, where it’s business as usual.
Resources
Fujita, Akiko. “‘The ultimate insult’: How U.S.-listed Chinese companies are gaming American investors.” Yahoo Finance, 20 March 2019, https://finance.yahoo.com/news/how-u-slisted-chinese-companies-are-squeezing-out-minority-investors-172606715.html. Accessed 1 January 2020.
Gingrinch, Newt. “America’s Secret Cyber War,” episode 35, 21 September 2019, and “China’s Con Game,” episode 38, 19 October 2019. Newt’s World Podcast, https://www.gingrich360.com/productions/podcast/. Accessed 1 January 2020.
Wang, Echo and Joshua Franklin. “Exclusive: Nasdaq cracks down on IPOs of small Chinese companies.” Reuters, Business News, 29 September 2019, https://www.reuters.com/article/us-usa-china-ipos-nasdaq-exclusive/exclusive-nasdaq-cracks-down-on-ipos-of-small-chinese-companies-idUSKBN1WE0P5. Accessed 1 January 2020.
Image by mohamed Hassan from Pixabay
Thought Ripples by Wendi 