A very good video.
The Noble Group incorporated in Bermuda and listed in SGX... and a commodity trader as well! SGX listing a grocery house from the Bermuda triangle with purchasers with no warehouse! The only assets are a phone system and some human "expertise". Remember "we" wanted very badly to have a share of the high tech cake may years back and "someone" acquired a Micropolis company manufacturing the highest end harddisk...Well no whites would want to work for a Chinese company and it is the whites who have the technology to build those equipments - they just leave after the takeover and good profits made...you are left with a shell company and ghost equipments. What brains are the top SGX using? Heads should roll for this Noble fiasco. Where's the heads...? Allowing Lehman Brothers in was one nonsense and now another. Who can offer 5% interest when bank deposit interest is 0% - just use your brain!
There is a similar case in China with their shadow banking. After 2008 and a stock market meltdown, no retail investor was willing to risk their savings to fund investments - it is known the Chinese consumers are also the greatest savers having huge funds. The Chinese government played dirty. They allow online P2P lending and a free market for that - unregulated! OMG! I'll say Xi Jinping and Li Keqiang are both guilty. It is easy to know the Chinese government wanted the retail investors to be suckers to tide them over a bad period when the state banks are not willing to lend to small investors - which banker is so dumb to lend when in the end they have to bear the responsibility and may even go to jail! So Ezubao lost 50 billion renminbi in 2016! The governments answer was probably "Its a free market" and you bear the consequences of your investment decisions. State bank deposits all over the world have some sort of state backing, but not P2P banking. This is just institutionalized frauds as the average Chinese trust that if it is permitted by the government, it should be safe... they were wrong. They were made suckers by the Chinese government. What about Lehman Brothers and Noble Group in Singapore? ... We trust the government and the SGX...
Chan Rasjid.