CHBT: Chinese Fraud Du Jour?

Tyler Durden's picture

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orangedrinkandchips's picture

"TELLING LIES MAKES BABY JESUS CRY"....rod and todd flanders

willien1derland's picture

I am certain that China-Biotics has filed to become a U.S. Primary Dealer as they apparently have the identical magmt style that such TBTF banks such as Citi, BoA, JP & da Wells - give it a week & Bennie & the Tims will launch that stock into the Russell 2000

billwilson's picture

Maybe they have a hidden melamine division that is genrating all the revenue. Who knew melamine was a probiotic.

Creepy Lurker's picture

+1

LMAO @ both you and willie. Anyone trying to seriously do business with the Chinese at this stage deserves whatever they get. They are still in the mindset that capitalism means defrauding everyone and his dog, something the Russians are just beginning to figure out is bad for business.

bugs_'s picture

be careful with shorting this one.  it has the same on-balance volume characteristics that shz had.  the obv did not confirm the move down - someone was taking it just above the ask.

Bill Lumbergh's picture

Which move are you referring to in terms of time frame...OBV since February on this security has going down quicker than a cheerleader on...well you know the rest.

cat2's picture

The only thing left in the world non-fraud is actual gold in your hands.  Anything else is likely fake.

ml8ml8's picture

If you're going to write a letter like that, why wouldn't you sign your name to it?  Why hide behind an apparently anonymous website?  Am I missing something here?

AldousHuxley's picture

"Made in China" means defrauding American investors and consumers alike.

 

 

 

Gordon Freeman's picture

Anybody dumb enough to go long on a stock called China Biotics deserves what they get...

FreedomGuy's picture

I got out of China stocks a few years ago for these very reasons. Here is the problem in a China or Russia. You have to understand that these were hard line Communist countries. You survived by lieing and telling your superiors or the government whatever they wanted to hear. It was a way of life. You used the black market to get necessities. The movie K-19 with Harrison Ford (historical movie) is a good example. Even though the countries are freed up a good bit, those habits, customs and instincts are not gone.

For example, if you were contracting for toys and asked if they would meet all U.S. regulations they would say "Yes (comrade)!" even if they don't know all the regulations. If you ask if there is lead in the paint used on them they will ask if that's bad and say no. When you find out there is they will just agree to fix it immediately and punish the supplier of the paint. They still execute people in China. I believe one of the heads of their pharmaceutical oversight was executed two years ago.

So, if you buy a shirt made in China the risk is small. You get a good shirt or bad shirt but no real risk. If you get your heparin or medicine or pet food the risk is much higher. Apply the same problem to accounting and disclosures for investing. How long do you even think business accounting has been a major in China? Unless a business has thoroughly trained Western type accounting and supervision an investor or buyer should be cautious. Western management includes management from Taiwan, Singapore, Hong Kong or other places, as well with long positive trade histories.

kumquatsunite's picture

The movie K-19 with Harrison Ford (historical movie) is a good example. Even though the countries are freed up a good bit, those habits, customs and instincts are not gone.

_______

Exactly. Outstanding point. Now combine that with the unfettered tsunami of immigration, which has been forced upon our country in the last twenty years, and we have a real mess. This is frequently referred to as "red in tooth and claw" because third worlders do not play by our rules; do not stand politely in line; and do not believe in "sharing" with you.

 

Wherever I go now, the foreign accents of those waiting on me (bank, stores, everywhere!) is very scary. And their eyes are even scarier. They always are "eye-balling" me with hatred simmering just at the back, and please don't go all politically correct on me over this.

 

Not that long ago I was standing on a riverbank fishing with my son, a bunch of immigrants (didn't speak English) came along and threw their lines over ours and pushed us out. It was either leave or get ugly, and that's the point. Immigrants only care about themselves and about getting theirs, in whatever way they have to. 

Finally, while we have left in sixty million immigrants in the last twenty years (as well with "family reunification" how many really?) and who knows how many illegals that we are told we must legalize even as we are in ecological collapse of our water supplies, our ability to spring greater crops from the same amount of land while pouring more chemicals on that land, and while our once-beautiful cities like Los Angeles (or name any city/town in California) are turned into the proverbial Escape-from-LA wastelands of concrete and pollution that sears the lungs.

It is NOW that we must stop all immigration or we are doomed to being India or China with no fresh water, living like rats in the maze of hostility (see: Keeping adding a rat to the population and at carrying capacity they start eating each other). Funny how things have to become really awful like Chernobyl or Fukushima before human beings say, "OK, maybe we should do this different."

Creepy Lurker's picture

Really excellent post. Wake up people, shake off the public school indoctrination and get through your heads that we are not one big happy family.

And if you don't believe the purpose of public schools is indoctrination, plug the name Charlotte Iserbyt into YouTube and watch the interview.

Irwin Fletcher's picture

Ye who listen to FreedomGuy, thy lover of western type accounting, who sayeth:

"Unless a business has thoroughly trained Western type accounting and supervision an investor or buyer should be cautious,"

and kumquatsunite, o lover of historical movies, who speaketh:

"unfettered tsunami of immigration"

"third worlders do not play by our rules; do not stand politely in line; and do not believe in "sharing" with you"

"Wherever I go now, the foreign accents of those waiting on me (bank, stores, everywhere!) is very scary"

"a bunch of immigrants (didn't speak English) came along"

"Immigrants only care about themselves," 

ye might consider ye olde sense of entitlement. Ye are in trouble when ye old shiite is swept oer ye olde thrusty breeze by way of spinning palm fronds.

LostWages's picture

Best to pull your money out of this dog and invest in the Chinese Dating Service advertised on this site.

At least you have a chance to get screwed in an enjoyable way.

Bill Lumbergh's picture

Speaking of potential Chinese security frauds, PUDA was halted today after being hammered on Friday showing once again only hold securities in which you have some level of confidence in their operations.

squexx's picture

I'm gonna buy the fucking dip!

Dan The Man's picture

.

5 yrs ago i asked my 'dude extraordinaire' about getting in on china.  

he says "why the hell do you want to get in bed with the chinese for?"  Aside from the juvenile humour moment, I took the hint and never bothered him about it again...wise dude.

UninterestedObserver's picture

This is my favorite stock - I shorted it at $17

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Irwin Fletcher's picture

Do your Dallas Cowboys jerseys come in green and white?

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