tag:blogger.com,1999:blog-5353489745782837825.post2455242811696218967..comments2024-02-25T00:38:34.874+08:00Comments on Patrick Cowsill: Money Laundering in TaiwanPatrick Cowsillhttp://www.blogger.com/profile/12904899672214340947noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-5353489745782837825.post-86782742209277528782014-03-16T13:05:58.194+08:002014-03-16T13:05:58.194+08:00Sounds good. I will tell James.
Credit cards are...Sounds good. I will tell James. <br /><br />Credit cards are getting a toe hold though. I have noticed that Taiwanese carry more cash than Americans (though this could also be based on the safety of the society). Almost nobody uses cheques. And when they do, it is taken very seriously. For example, my friend (a university prof no less) was jailed for 56 days once for bouncing a cheque.Patrick Cowsillhttps://www.blogger.com/profile/12904899672214340947noreply@blogger.comtag:blogger.com,1999:blog-5353489745782837825.post-16947177613968056452014-03-14T02:49:37.877+08:002014-03-14T02:49:37.877+08:00The source of the NT? It has always been cash-only...The source of the NT? It has always been cash-only transaction in all facets of Taiwanese life. Even now. We still have this visceral distrust of the banking system.<br /><br />I arrive on 4/20. Get together at the Hammer? EyeDochttps://www.blogger.com/profile/00406602265159523372noreply@blogger.comtag:blogger.com,1999:blog-5353489745782837825.post-61091481366973891572014-03-14T00:55:31.077+08:002014-03-14T00:55:31.077+08:00But still, where do you suppose the NT comes from ...But still, where do you suppose the NT comes from to wash this money?Patrick Cowsillhttps://www.blogger.com/profile/12904899672214340947noreply@blogger.comtag:blogger.com,1999:blog-5353489745782837825.post-73135816701607056282014-03-14T00:52:36.277+08:002014-03-14T00:52:36.277+08:00BTW, James just asked me when you will be back.BTW, James just asked me when you will be back.Patrick Cowsillhttps://www.blogger.com/profile/12904899672214340947noreply@blogger.comtag:blogger.com,1999:blog-5353489745782837825.post-16354895006610752892014-03-14T00:50:34.947+08:002014-03-14T00:50:34.947+08:00OK. I think I get it. I faced mentally troblesome ...OK. I think I get it. I faced mentally troblesome paper work just last month. I wonder how the jewelry stores are doing now. I am guessing a market still exists, based on recent exprience. But this is not funny.Patrick Cowsillhttps://www.blogger.com/profile/12904899672214340947noreply@blogger.comtag:blogger.com,1999:blog-5353489745782837825.post-8516638573309204062014-03-11T21:13:39.129+08:002014-03-11T21:13:39.129+08:00And leave a record?
Up until the end of the mart...And leave a record? <br /><br />Up until the end of the martial law, underground currency exchanges were illegal. And the only bank that you could buy some US dollars from was the Taiwan Bank where you were asked to fill out forms, submit supporting documents, and wait for approval. There was an upper limit also. Each applicant could buy up to a grand or thereabouts.<br /><br />(Incidentally, it was "to avoid" not "to void" in my previous comment.)EyeDochttps://www.blogger.com/profile/00406602265159523372noreply@blogger.comtag:blogger.com,1999:blog-5353489745782837825.post-35294315087711550152014-03-11T19:19:05.721+08:002014-03-11T19:19:05.721+08:00But why not exchange it at a bank?But why not exchange it at a bank?Patrick Cowsillhttps://www.blogger.com/profile/12904899672214340947noreply@blogger.comtag:blogger.com,1999:blog-5353489745782837825.post-10893367969503940192014-03-10T22:31:01.521+08:002014-03-10T22:31:01.521+08:00Where did the foreign cash come from? Long story (...Where did the foreign cash come from? Long story (the cash is mostly in US dollars, BTW). Known to older Taiwanese as 黑市, through which, they hoarded USD (and gold) to void a repeat of the catastrophic financial loss of 1947, when the old Taiwan dollar was converted to the New Taiwan dollar, at an exchange rate of 40,000 to one. The wealth of many Taiwanese evaporated overnight.EyeDochttps://www.blogger.com/profile/00406602265159523372noreply@blogger.comtag:blogger.com,1999:blog-5353489745782837825.post-2468396555720266242014-03-09T03:15:05.610+08:002014-03-09T03:15:05.610+08:00I have read it. It doesn't really encapsulate ...I have read it. It doesn't really encapsulate me; I am not part of an overseas Chinese effort to dominate global commerce.Patrick Cowsillhttps://www.blogger.com/profile/12904899672214340947noreply@blogger.comtag:blogger.com,1999:blog-5353489745782837825.post-54668529432634129862014-03-09T02:23:34.159+08:002014-03-09T02:23:34.159+08:00Re where the money came from. I suggest reading th...Re where the money came from. I suggest reading the book "Lords of the Rim" by Sterling Seagrave. Why doesn't it happen now may be a better question :)Anonymousnoreply@blogger.com