CAPITALISM - HONG KONG: You have two
cows. You sell three of them to your publicly
listed company, using letters of credit opened by
your brother-in-law at the bank, then execute a
debt / equity swap with associated general offer so
that you get all four cows back, with a tax
deduction for keeping five cows. The milk rights
of six cows are transferred via a Panamanian
intermediary to a Cayman Islands company
secretly owned by the majority shareholder, who
sells the rights to all seven cows' milk back to the
listed company. The annual report says that the
company owns eight cows, with an option on one
more. Meanwhile, you kill the two cows because
the feng shui is bad.
People worrying about imaginary cows retaining their value when they might resort to eating cow feed pretty soon…
