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Anorak | Glencore And Sino Forest: Make Paper Money From Hard To Find Trees

Glencore And Sino Forest: Make Paper Money From Hard To Find Trees

by | 5th, September 2011

THIS  is really a rather interesting little story.

You know how everyone likes to go on about how the banks are all thieving bastards, corrupt to the core, hang them all and close ’em down?

Even, why haven’t there been more prosecutions?

Well, the answer to that last question is because while they were all very silly there wasn’t in fact much going on that was illegal.

However, over on the other side of the world we’ve got a lovely little story going on about a company called Sino Forest . Essentially, Chinese company floats on the stock market in Canada, raises $3 billion or so over the years to buy Chinese forests.

So now peeps are going looking for these lovely forests that were bought with the $3 billion: and they’re proving very hard to find indeed. There is even talk that this

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Posted: 5th, September 2011 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink