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Feb 6, 2021. By Andrés Arellano Báez
Nassim Nicholas Taleb abandoned anonymity since the launch of his book "The Black Swan". In an interview to promote the text with Charlie Rose, the author shared that "a stockbroker on Wall Street may have no more predictive capacity than a cab driver" about his market. And he spoke about the matter from experience, as it was precisely in that mythical place where his first job would be located. For decades, the humans inhabiting that corner of Manhattan made the world believe that Taleb's ideas were ridiculous: they boasted that they were wizards capable of navigating the turbulent waters of the financial world thanks to their vast knowledge. And the story seemed credible; until a group of uneducated citizens beat them in a billion-dollar game, on their terms and conditions, and sank many of those proud boatmen.
There is always wisdom to be found in history. According to investor Dylan Ratigan, a connoisseur of the US market like few others and author of "Greedy Bastards", George W. Bush's attempts to privatize Social Security in the United States must be framed in the context of the ongoing desire, mainly by Wall Street, to convince the small investor to become a stock market player. The desire of the sharks of the financial world, always hungry to expand their business, made them see those citizens without significant monetary resources as weak prey that, once they managed to unite, would become truly juicy portions. But the bait failed to catch the victims and the public's disconnect with the world of finance remained intact. That is, until one company hit upon the root of the problem: the interface. Ratigan's words on the matter are illuminating: "A new investor would come to the market and find an interface that looked as complicated as driving a 747. The appearance of Robinhood, presenting a platform apparently developed under the slogan "investments for dummies", which also did not charge commissions to its users, attracted and convinced millions to participate.
In August 2019, Mexico's El Financiero accidentally stumbled upon a story that would grow into an unpredictably mind-blowing one. In an article focused on how the next big financial stratospheric leap would be in South Korea and some small companies, the U.S. newspaper revealed that Michael "Burry asked Gamestop, a video game retailer, and Tailored Brands, a men's clothing retailer," to buy back all of his shares. At the time, the investor turned celebrity after being played by Christian Bale in "The Big Short", owned 5.3% of the video game retailer through his hedge fund Scion Asset Management, which he acquired at a price per share of between 2 and 4.2 dollars, according to the media.
Although Barry had become a major player on Wall Street, he consecrated his title by betting on two unpredictable crashes, both in markets certified as AAA by the major rating agencies: the dot. com debacle in 2001 and the global financial crisis caused by the loss on mortgage-backed securities securitized as credit default swaps in 2007, in Gamestop's case it seems that it was not its ability to foresee the future that led to its success, but its already earned influence in the markets that was the reason for having a third winning bet. It was a self-fulfilling prophecy. As soon as the guru took a position in Gamestop, another major investor, Ryan Cohen, made a significant purchase of the stock, and then a massive number of smaller investors, many of them fans of the brand and initiated into the stock market thanks to Robinhood, followed in his footsteps. One of them deserves special mention: Keith Gill, known online as "DeepF-ingValue". A crazy and unprecedented story was beginning to unfold.
Nothing indicates that Burry foresaw the debacle. According to Business Insider, after taking a strong position in Gamestop, the financier promoted far-reaching changes in the company. His bet seems to have been to transform the company's fundamentals, price the stock and generate a large profit over the long term. He had already stated his vision of "investing heavily in undervalued and overlooked stocks", as "asset managers have orphaned lower-value stocks globally". All of the new investors, many of them brand lovers, wanted the same thing as the financial guru. Gill confessed to The Wall Street Journal that "people were doing a quick take, saying Gamestop was the next Blockbuster," referring to another chain fallen from grace. "It seemed like a lot of people just weren't digging deeper," the interviewee continued. It was a gross misclassification of opportunity." All the small investors, led by Gill, saw Gamestop as a company that would have a second life.
But along came the pandemic that would change everything, and everything would go haywire, laying the groundwork for what would be a truly unprecedented IPO. Gamestop is a corporation whose heart is located in shopping malls. It is their space par excellence. With the spread of Covid-19 closing each one of them, the future of the business was projected to be threatened. The biggest and most traditional players in the market became aware of the problems created by the new context and acted accordingly, starting a bet against the company: short operations whose element of relevance is only one: the big funds decided to invest millions of dollars waiting for the share price to fall. They would make a profit if the price of the purchased share fell over time. And the global outlook created an ideal scenario for such a financial move. From their perspective, the analysis was correct and the numbers proved to be right.
The action taken by hedge funds is known in the market as short selling. The funds borrow a share from someone and are obliged to return it to its owner on a certain date. The borrowed share is sold at the market price to a third party with whom, in turn, they are obliged to buy it back within a certain period of time. The fund that lent the share to sell it to a third party expects the price of the security to fall, so that when it purchases it again it can do so at a cheaper price, generating a profit. If he sells it at 100 and buys it back at 50, well....
The person who buys the stock to sell it later, expects the price of the stock to go up, of course, selling it at a higher price than he bought it. The problem with short trading, for the fund borrowing the stock, is that you can make a limited amount, but you can lose an infinite amount of money. If the fund sells the stock for 100 and it loses all of its value, when it buys it back from the original owner, it will pay zero for it, producing a gain of 100. But, if the stock he lent and sold at 100, at the time he has to buy it back is not worth zero or a hundred, but is valued at 50,000, then he is obliged to pay 50,000 for it, turning his transaction into a loss of 49,900.
And, when some of the big names on Wall Street began to bet short, to look for Gamestop's failure, to go against a company loved by many, the gates of hell opened. "It was like a war," one of the investors in Gamespot told El Diario.es. Bad news would come out, like the coronavirus was going to wipe out Gamestop, and people would put more money in. It was a class war. And so it was: bankers were fighting to drive the stock price down, Reedit users were willing to do anything to drive it up. "We will be able to be mentally retarded longer than the vulture funds will be able to be profitable," commented one of the warriors at Wallstreetbets, the Reedit space where the men and women who fought this battle crowded in. And in the end, they triumphed, raising the price to unpredictable numbers. That is, it could not be otherwise, until the Manhattan bankers, the center of neoliberal ideology, the main space from where an ideological battle to the death against government intervention in the economy has been waged the strongest, the king of the free market, decided to turn to Daddy State to save him from the guillotine. Here the story becomes fascinating.
Given that the people Wall Street was fighting against were not rational, did not act on market logic, did not care about losing money, they were forced into draconian measures to stop the bleeding. The fund that had lost the most money in this gamble was called Melvin Capital. Its major commercial competitor is called Citadel. The latter decided to take advantage of the situation and acquire the former. Once this purchase was made, Citadel, whose CEO is Kenneth Griffin, the highest paid executive in the world (1.7 billion USD per year), took possession of all these bets. Why would a financial company carry out an operation that would put it in a business with the proven capacity to bleed its finances to death? The only logical reason, the only possible answer, the only plausible explanation is that Citadel knew how to suture the wound causing the bleeding.
Speaking fess are the fees paid by companies to certain professionals of notorious trajectory in the United States to dictate speeches for their employees, seeking to enrich and enlighten their workers, irradiating them with the wisdom contained in notable names. Janet Yellen, current Secretary of the Treasury in the United States, is an academic with an unbeatable track record. She has received almost every award in her career, and each of them has been awarded with justice. The Nobel Prize that has eluded her will surely come her way soon. But unless she has discovered how to solve all the ills of humanity through economics and has organized a talk to explain her findings, there is no justification whatsoever for the $800,000 received last December from Citadel for a few words. On the other hand, such a staggering amount is understandable when, as Dylan Ratigan explains, it echoes the theory that speaking fess are awarded not for speaking, for the speech, but for granting direct access to the person hired. By December of last year, it was certain that Yellen would be the next Treasury Secretary under the Biden administration.
Although it is nothing more than speculation, rather the worst kept secret, it serves to clarify why Robinhood, the platform that had convinced millions of citizens to invest their money in the market, that had made life easier for those who wanted to buy stocks and the tool used by small investors against Wall Street, in an unprecedented decision allowed its users to close positions in Gamestop, but prohibited the purchase of the stock. It did not freeze the transaction of the stock traded as GME, it only prohibited its acquisition. If a stock can only be liquidated, it will see its price decrease, something that only benefited Citadel, a company that had acquired Melvin Capital, which had paid $800,000 to Yellen for speeches and who, this is the most relevant of all, the clue that deciphers the crime: it is the best client of the Robinhood platform.
Robinhood is unable to buy or sell shares directly. Legally this is the case. Hence its need to work with "market makers", companies that the legal framework does give them that power. Their best-established partnership for this operation is with Citadel. A "market maker" is a type of organization that, because of its particularities, requires a lot of information about how trends move. A "market maker" needs to anticipate events in order to perform its function. A short sale requires anticipating whether a stock is going to go down or up in price, for example. When Robinhood asks Citadel to buy or sell millions of shares for its investors, it is giving them the information they need. And in order for Robinhood to use Citadel's services and not another "market maker," Citadel pays a small commission for each transaction. That's why this platform, which does not charge its users a commission for buying and selling stocks, is a billionaire. That commission is its business. "When they don't charge you for a service, it's because you are the product," says the wise popular adage.
Any technical explanation given by Vladimir Tenev, CEO of Robinhood, justifying his reasons for having stopped the purchase of a share is simply ridiculous in light of the analysis made by Ratigan: "From a legal point of view," explained the businessman, "the only organization that has the authority to stop the purchase and sale of a share, let alone the ridiculousness of stopping one part of the transaction and not the other, is the New York Stock Exchange". He complements, "the only valid reason to stop the purchase and sale of a stock is for the leakage of relevant information that impacts the market or knowledge of imminent fraud". The examples cited in his peroration - Enron and Worldcom - are telling enough to show this was not the case. "A company has no authority to stop a stock from trading," Ratigan says, "much less prevent it from being bought while prohibiting it from being sold. That act is clear market manipulation." And therein lies written, in that sentence, the epitaph of Wall Street.
From now on, in any debate where one of the parties dares to cite the benefits of the free market and the superiority of such a system, they risk being ridiculed by their opponent with just one word: "Gamestop". Time will tell whether or not Yellen acted in favor of her clients; but intervention in the sacrosanct market did occur. They have even gone further. Witnessing NASDAQ CEO Adena Friedman on live television, without blushing, calling for the installation of regulations in the market is to witness the true essence of an ideology that was nothing more than a scam coming to light. The US financial sector as a whole, never spared resources and financed for decades all kinds of propaganda about the damage caused by regulations, how inefficient they are, how contrary to the wisdom of the market their very existence was. Today they are begging for their declared enemy to not only exist, but to act, to be present and intervene to protect them on their own playing field.
And the fear is justified. Reedit investors did not topple Wall Street. But the Wall Street representative against whom they fought to the death, that one they did defeat. He went bankrupt. For the first time in its history, the mecca of the financial world found a real opponent. Competition in the U.S. stock market sector was always between equals and the losses of one were the gains of another of his own. Never again. "Occupy Wall Street", the battle slogan of the 2008 victims camping out in Zuccoti Park, in front of the majestic offices of the big players in the stock market sector, reached a whole new level when they knocked down the walls protecting their empire, unleashing the entry of outsiders to occupy their business. When the war for GME began, Wallstreetbets had 3 million forum followers. Today there are 8 million. More citizens, more money, more power. The stakes are on the table and now anything can happen.
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Another source here. submitted by Davess_World2019 to HagwonBlacklistKorea [link] [comments] 🦆🦆🦆🦆 Getting your ducks in a row before quitting your Hagwon job. Don't be rash, remember: P.O.O.P.: People Organize before they Opt to Pull-out. You'll always remember this, because, ironically, Hagwons ARE the poop jobs in Korea, so there's some continuity there. https://preview.redd.it/p2x3fz0bsga61.jpg?width=445&format=pjpg&auto=webp&s=0a74c69d23b468dd7a374f7bf098426db7147978 🦆 If you are thinking about quitting your Hagwon job, there is no true recipe book for getting this done. Each situation is unique with many changing variables such as your money supply, assets available to you, willing family members back home, Hagwon owner personality. I'll advise you about the process, but the finer details, procedure, I can't do, because I've never had to do some of the things you might have to. 👁 Hindsight. You should not have taken a Hagwon job, I hope you realize that now. They dig their claws into you, and got you by the balls on everything, or ovaries respectively. 👁 You should have recorded on video, all details regarding the contract and get them on tape lying to you about your work hours, vacation, salary etc, so that getting away from them and getting sympathy from the government is about 50% easier, as it's also legally binding. I talked about that here. 👁 This is why you don't bring a pet, 2 huge suitcases and a carry-on. 5 changes of clothes for work, 2 sets of shoes and a laptop + necessities, and that's it. Travel light, it's an unstable job. 👁 You should have a credit card with enough room for an emergency plane ticket back home, or beg your parents to bail you out. 👁 You should have your banking app installed BEFORE you leave. It's I.P. sensitive, and may not even be able to search for it, then download it, from Korea. ------------------------------------------------- 🦆 Find alternative housing. No matter what they tell you, they will kick your rear end out on the street and change the locks at the most opportune time. Probably the day you tell them you are quitting, they'll turn around and fire you out of anger, surprising you in the process. "Loyalty" is a one-way street in Korea, and it's extremely important to them. So when you are "disloyal" they will get revenge. 🦆 The best thing is to bunk up with another foreign teacher that will give you permission to stay for a little while. It won't cost you money. You can fight for your paycheck or change your Visa status then. So, secretly stay with a co-worker, or you should have invested in a relationship with another foreigner for this occasion. 🦆 You may need help from a friendly Korean to translate your needs. I doubt a sympathetic Korean co-worker will help. If you are Christian, I'd highly suggest joining a church and get cozy with them, they'll help, I know, I've gotten help from church people in a pinch. 🦆 Stay at a cheap motel. 여관 (Yuh-Gwan). Naver maps shows the location of them. There is another option for monthly stay, sort of like a hostel called a 고시원 (Go She Won). It's about 1/2 an efficiency apartment size. Cheap, but basically a broom closet. For a Yuh-Gwan, I'd have your friend translate a reduction in price if you stay for 2 weeks. They are hurting for money, they'll do it. 🦆 You have 2 weeks to inform the local gu office of your new residence. If you are going to be in the country for more than 2 weeks looking for a job or getting your pay, you need to update them, it's free. Past 2 weeks, the fines increase. ------------------------------------------------- 🦆 Get free help, and legal advice. There are a surprising number of resources available for foreigners (here). Very gently and pleasantly call and ask about your situation before trouble starts, then when it does, call back and verify. Where is the immigration office in your area? Do you have an I.D. and password for immigration online so you can make an appointment? Can you speak to someone in English there. What paperwork needs to be filled out, is there a link online so you can download it? 🦆 Ask about extending your stay to fight for your pay. You can get a 2 week extension for travel, or switch to a D-10 (looking for work). Ask about these options, you can't overstay your Visa even if it's not your fault. The back of your ARC must be current when you depart from the airport when you turn it in, and you MUST turn in your ARC. If the dates are wrong, you have a choice to go back and get a stamp making it current, (and miss your flight) or they can deport you and you may have trouble coming back. You don't want a deportation order on your passport, or having it in some world data-base somewhere making it hard to travel to other countries. ------------------------------------------------- 🦆 Your final pay: they have 14 days to pay you, from your last day (by law), and cancel your Visa. They don't, the penalties are absolutely crushing. The Dept. of Labor has special arresting powers. They can arrest the owner, put them in jail, and fine them $20,000. Don't threaten them with this, they'll laugh in your face. The agent at the Dept. of Labor will make them cry on the phone, I know, I went through this before. They delayed for 20 days, then when confronted by an agent, they paid me within the hour. It's about rank. You don't have any. Only a person with rank makes them quiver in fear. It's a dare, if you can find someone to force them to pay you, they'll pay, otherwise, they'll keep it. Spend your time finding that agency, don't bother with the Hagwon owner, they are crazy. So if you are going to stay and fight for it, predict that they'll delay for the full 14 days, and if they are stupid enough to incriminate themselves by openly breaking the law, expect to stay a little longer after filing a complaint. 👁 Hindsight. Did you get the owners official business card on your first day of employment? You should have, you'll need to hand deliver that with your complaint when you need to. ------------------------------------------------- 🦆 When you are ready to quit, demand a Certificate of Employment rather than a Letter of Release to transfer your work Visa to another employer. This is iffy, and I've never done it. It's something to ask at one of the help lines. Ask 3 difference sources, if 2/3 give you the same answer, that's probably the correct answer. It should have just facts only: title of company, dates of employment, signature, official ink stamp, telephone number, no personal opinions. I'd also check to see if you can transfer your Visa at any time or must you work for your employer for a minimum of 3 months before you are eligible for a C.O.E. You never know what loopholes there are. 🦆 A deal with the devil. Getting your release, but under terrible circumstances. So they will allow you to quit with a 60 day notice (that was nice of them), but you have to: find your replacement, pay back recruiter fees, stay on 90 days instead of 60, etc etc, THEN they will give you a Letter of Release. Of course, you know what's going to happen.....yep, you'll do all of it, then when your replacement comes in, they'll fire you and not give you a Letter of Release. Pretty big gamble to assume lying, incompetent scumbags will suddenly have a change of heart and not be scumbags isn't it? Have them give you a Letter of Release dated on the day you are leaving, which is not valid until that time, THEN you will stay a little bit longer and comply. What's the harm? You can't use it for another 90 days, so if you do run off, you have to survive without a job until that time, and they can cancel the Visa. 🦆 Do not agree verbally or in writing you will pay back anything. Recruiting / Visa / Immigration / Health check fees, nothing. "Pay now, sue later" that's the law. They MUST pay you your full salary NOW, and if they have reason to recoup some of it, the courts decide that, not revengeful Hagwon owners who will make excuses to steal all of it. 👁 Hindsight. You should have made sure you get an electronic pay stub to your email every month, IN ENGLISH to verify all deductions. None of this, "Administrative fees" garbage, that's what they use to take you out for dinner every month, at your expense. Anything missing from your salary is to be reported to the government. 🦆 A dirty trick. What you can do is, agree to pay back all of their ridiculous fees, get your Letter of Release, go to another employer, and then file a complaint for salary theft with the government and get all your money back. The law still applies to them, courts make those decisions, not Hagwon owners. Is it legal to willingly give your money to a mugger with a gun to your head and let them run off with it? No, it's still illegal whether you gave it to them or they ripped it from your hands. Just don't sign anything or be caught on audio agreeing to it, or email, and even so, the law still applies. "Pay now, sue later." ------------------------------------------------- 🦆 Get your rent deposit back. They'll huff and puff and stomp around and be difficult, but you must get this back. I talk about how to get it in 15 minutes or less here. It's natural to break up by some angry blow up, throw things, storm out the door. You need to evict that evil impulse from your heart. Instead, replace it with an even worse evil: a cold-blooded emotionless psychopath that absolutely is unmoved and undeterred by the emotional histrionics likely to be thrown at you--basically mirroring your employer. They want to make you so miserable and afraid, you'll skip out on what they owe you. Just keep showing up at their office like Jason Voorhees and hiss, "I want my money back now." And just stare at them, unmoved, an unreasonable automaton that will not stop, will not give in, will not be swayed by emotion or trickery, give me my money! You'll be surprised how good Koreans are at acting. They'll threaten, throw themselves on the floor and bite their pillow in anger, and when you are unmoved, they'll get up and sigh, "Ok.....that didn't work, we'll be there after 12 to check you out of your apartment, just wait for us.." Don't look ashamed or shy, confident and bold, make THEM feel ashamed and awkward. Practice in the mirror with daggers shooting out of your eyes. Do they look steely and cold or doe-eyed and scared? Are you looking away or down, or staring at some point on their forehead ready to throw-down at any second? Look at Mike Tyson's face before a fight when the referee is giving instructions. Yeah, he's communicating something isn't he. It's a non-verbal arm wrestling match, win it. 👁 Hindsight. You should have inserted language in your contract stipulating on your last day of employment, you are checking out of your apartment, cancelling internet, phone services etc. Never agree to leave money on the table, and trust that they'll forward your money within 45 days of your last day of employment. One of the stupidest and illogical things foreigners agree to. 👁 Every scratch, broken, dented, discolored this or that needs to be recorded with your phone, pictures taken and WRITTEN on the contract you sign verifying those things existed when the got there, if not, they'll charge you for them. Video tape what appliances are there. They say there was a microwave and there isn't, they'll charge you for a stolen microwave. 🦆 Get your pension even after you leave the country. (here) ------------------------------------------------- 🦆 Never quit. "Have you ever quit a job or broken a contract?" Answer: no. Fired, yes, and the employer broke the contract, not me. This is the most exquisite time you'll ever have at a job, knowing you don't care anymore, cut corners, be lazy, confront your manager at meetings, get sassy, challenge everything, piss people off you really want to piss off. I have no idea why people cut and run, when there is this precious time to teach however you want to teach, ignore complaints, be lazy, play games, take a few sick days and relax and be lazy, and still get paid for it....be lazy. They treated you like trash, what's wrong with a little juicy pay-back? "Yeah, I'm pretty busy as it is, that sounds kinda dumb, who's terrible idea is this anyway?" No filter man, just go with it. "Saturday? I'm an hourly employee, what's the pay? Is it regular or overtime pay? No pay? Then I ain't coming in. I'm not a slave. You don't pay me, I don't work, that's the deal! Since when do hourly employees work for free? Never heard of that. Oh, it's part of my regular pay? Then I'm SALARIED, not hourly, you lied to me!!!" If you are a Midnight Runner, even better! Take your maximum days off with "migraines" get aspirin, stay home. Go into work being a total jerk with your bags packed in another foreigner's apartment, get fired, THEN leave. Make sure your 🦆🦆🦆 are in a row, bags packed, moved out, and ready for inspection, Visa extension papers are ready to be turned in before you are ready to set the bridge on fire at this stage. It's up to you how you do this, BUT, if they fire you, generally they need to give you 3 reprimands (which you don't sign) and 30 days notice as stipulated in the contract, and by law. If they don't do this, and the government gets involved, they look terrible. If you quit, it's all YOUR fault. No never quit! Make them fire you. That's WHY they harass foreigners out at the 9 month mark to save money. If you fall for it, quit and run off, they win and keep your cash or likely get government sympathy. You stand firm and ignore their harassment, laugh in their face and force them to fire you, you win and THEY broke the contract. 🦆 A dirty trick. You make them aware, that if they are setting the stage to fire you, you are going to sit around and be the LAZIEST most uncooperative employee they have ever seen, and still have to pay you for the next 30 days, OR they can release you now, and simply pay you what you earned, rent deposit refund etc, and you willingly leave quietly as soon as possible. I did this before, and they agreed. Negotiate! You take the mask off their whole strategy. They'd prefer to harass you out of a job, and hope you run away, but when you tell them you're on to it, and you are going to stay, be a nuisance and still get paid, then file complaints if you don't, they'll just pay you to get rid you. You are now almost totally ungovernable. No threats of Letter of Release, good job recommendation, passive-aggressive behavior will be effective. You'll ignore their complaints, teach classes how you want, put your feet up on your desk and doze off in your free time, and there is nothing they can do about it. In this strict face-saving culture, do you think they want you to openly insult and undermine their authority in front of the staff, parents, and children? I'll bet they don't. They don't want these daily confrontations in which they can't win. Best to kick you out the door with whatever you are asking to save-face rather than deal with an anarchist. 🦆 A dirty trick II. You tell them, once you are safely out of the country, you are going to send an email (that you had access to) to all of the parents detailing how bad of a company it is. You'll have it translated in Korean back home, and they can just TRY to sue for defamation in a foreign court, losing a ton of money in the process. Then you'll post a Youtube video telling the world all about it. They may have strict defamation laws, but in a Western country, they are invalid, freedom of speech laws apply and are extremely powerful. 🦆 They'll call the police. "Ok, great, I'll wait here for them." Calmly stand there and record the whole thing on your phone. Why run away? You look guilty. Stay there, talk to them. "We will tell them you molested kids unless you run away and leave us all your money!" "Ok, I'll just stay here to defend myself, AND you are going to pay me anyway. Even pedophiles are lawfully owed their salary. You ain't gettin' it!" Good thing you recorded that on your phone to exonerate yourself right? RIGHT!? You did take my advice to record everything didn't you? You better! There are no innocent or off-the-record meetings, you record and bring a foreigner with you as a witness, they often have a fellow Korean in the meeting, why can't you? If the Hagwon suddenly has details that you touched a child and threatens to call the police, you know it's fraud. For one thing, wouldn't a parent take their child to the police station right away, then they would come and arrest you without notice? Why would the Hagwon know about this and have any determining factor about it? They make it sound like they have a special secret and can choose to prosecute or not based on how fast you can get to the airport. And besides, what child and family would support a lie to the police and all the way through the court system knowing they are committing perjury? If you fled the country, and you actually were guilty, you could be extradited back anyway. It's all a very common Hagwon lie to save some money. ------------------------------------------------- 🦆 Don't you see the monstrous trap they are setting you up for? In any situation, whether it's some financial deal like an investment, a relationship, a job, a proposition, a contract, an agreement, a group tour somewhere, the most important question you should have from the start is, "How can I get out of it if it goes south?" Always remember: P. O. O. P. 🦆🦆🦆🦆 |
Bellagraph Nova Group is a leading player on the world stage. The economic and ethical model of the BN Group guarantees a significant impact on global economic and social development.Sure, sure, but what do they do?
BN is the only group in the world to boast an international presence in all major commercial sectors: healthcare and medical specialty, financial services and investment, luxury and real estate, discretionary consumers, products & services, lifestyle, entertainment, technology and media.Ok, so they're a conglomerate. 31 "entities", 12 billion in revenues, 23,000 employees. Any idea of what these "entities" are?
A leader in six different main sectors, our Group counts more than 23,000 employees and 31 prestigious Entities operating in all countries around the world.Nope.
Novena Global Lifecare Group was founded in 2010 by cousins Terence Loh and Nelson Loh, both former investment bankers at J.P. Morgan. Nelson found the idea of forming a medical aesthetic group when he found that his mother’s medical aesthetic bills running into thousands of dollars. One of their early investments was a KOSDAQ-listed medical equipment manufacturer in South Korea to develop their own research and manufacturing arm of the group. They also took interests in healthcare companies in Taiwan as well as the PPP chain of clinics in Singapore, renaming it to NOVU and NOVU Genesis. Prior to founding Novena Global, Terence and Nelson co-founded DORR Group, an Asia-based private equity group which invested in the consumer, internet, media and healthcare spaces.So, the Nohs are Singaporean cousins, the family is obscenely rich if Momma Noh can rack up thousands of dollars in her beauty sleep, and they used used to work for JP Morgan before founding this DORR thing. There's also a very kind (to them) and informative profile which also gives us some more information: Nelson is now 40, and Terence is 42. They love gambling, DORR's name comes from Ocean's 11, and Novena actually makes money on a real thing (cosmetic healthcare for Asian customers).
is most notably famed for holding the world record for highest ever online single sale transaction of US$102 million (across all product categories globally)Shen graduated from a Chinese university, but I can't ascertain the nationality she has and I am unable to find anything on her family. I'm pretty sure that someone in China would be able to unearth more juice out of her story, because the way it's told right now it seems like she's sprung from Zeus's skull like Athena.
What Online Gambling In South Korea you will not find here. At first glance our list Online Gambling In South Korea here might seem shorter than what you have seen at another site. You are correct, and we are proud of it too! We try to keep this list of no deposit bonuses clean, and by clean we mean we The South Korean gambling laws are very strict and operators are still not allowed to offer online casino games, according to the Game Industry Promotion Act (GIPA). Therefore, gamblers usually access international online casino sites that are based elsewhere. As such, South Korea actively aims to IP block gambling sites or throttle connection speeds with these websites to prevent online gambling. However, many players are still able to make deposits at foreign online casinos, either regularly or through VPN software. Sports betting, unlike casino gambling, is mostly legal in South Korea. South Korea North Korea ... How illegal online gambling launders $150bn from China. Campaign against fraud bars the use of other people's phone and bank cards. Online DFS in South Korea. Online DFS sites in South Korea are not legally regulated. There is an ongoing debate on the status of this type of game, but considering the current situation of some online gambling in the country, it is unlikely that Daily Fantasy Sports would soon become legal in South Korea. Roulette is the second most common online gambling game in South Korea. The game does not cost a lot of money to gamble and it is enjoyable as well. It is a fast-paced game and the easiest games to play. It can be made more fun by placing huge bets on each spin or placing specific bets on colors and numbers. Online Gambling in South Korea. Online Gambling in South Korea has been available to gamblers around the world since 1994. Today, it is rapidly becoming one of the most popular methods to gambling from sports betting to playing casino games and poker.. Find the Best Internet Gambling in South Korea Online gambling is strictly illegal in South Korea, with the government taking an active role in policing it. South Korea’s National Intelligence Service recently reported that North Korea had begun to operate online gambling sites targeting South Korean players — as well as punters in China and Malaysia — to earn revenue to power the North Korean regime. Previously, South Korea had strict laws for online gambling; the citizens and executives were never allowed to operate any online gambling services. These rules have eased slightly, and at least you can enjoy some online gambling for monetary gain and not property gain. Take note online gambling for a property is forbidden in South Korea. […] In South Korea gambling is a crime under Chapter 23 of the Criminal Act. Article 246 stipulates that a person gambling for the purpose of gaining property shall be punished with a fine of not more than five million won. Because we have so many forms of legal gambling here now, this has been amended to exempt gambling which is for momentary pleasure.
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online multiplayer battle royale game developed and published by PUBG Corporation, a subsidiary of South Korean video game company Bluehole. The game is base... About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features PlayerUnknown's Battlegrounds (PUBG) is an online multiplayer battle royale game developed and published by PUBG Corporation, a subsidiary of South Korean vi... PlayerUnknown's Battlegrounds (PUBG) is an online multiplayer battle royale game developed and published by PUBG Corporation, a subsidiary of South Korean vi... Bar/Street Craps scene from Robert De Niro's directorial debut A Bronx Tale.Not exactly a Casino gambling video clip but a lot of fun all the same. This is w... layerUnknown's Battlegrounds (PUBG) is an online multiplayer battle royale game developed and published by PUBG Corporation, a subsidiary of South Korean vid... This video showcases me trying to climb on the South Korean servers.Overwatch is developed and produced by Blizzard Entertainment. All images, characters and... PlayerUnknown's Battlegrounds (PUBG) is an online multiplayer battle royale game developed and published by PUBG Corporation, a subsidiary of South Korean vi... PlayerUnknown's Battlegrounds (PUBG) is an online multiplayer battle royale game developed and published by PUBG Corporation, a subsidiary of South Korean vi... PlayerUnknown's Battlegrounds (PUBG) is an online multiplayer battle royale game developed and published by PUBG Corporation, a subsidiary of South Korean vi...
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