Saturday, Jul 17, 2010
Businesses failure and bankruptcy are lining up in UK......
Sky News: Holiday Firm Collapses With '16,000' Abroad
A British tour operator collapsed leaving thousands of holidaymakers abroad, the Civil Aviation Authority has confirmed.
Greece and Turkey specialist Goldtrail Travel Ltd went into administration at about 4pm on Friday, with an estimated 16,000 people overseas.
The CAA said it was making arrangements to fly customers home at the end of their holiday under its ATOL (Air Travel Organiser's Licensing) scheme.
The aviation regulator's Andy Cohen was quoted by Travel Weekly as saying the authority was still "in the dark on detail" about the failure.
But he said it was not on the scale of XL Leisure Group, which collapsed in September 2008 and left 60,000 holidaymakers overseas.
Posted by simon68 @ 02:29 PM (2207 views) Add Comment
25 Comments
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1. rumble said...
There will be no one able to buy chinese products.
China is causing concern and not playing nice.
"goofed area"
2. drewster said...
Rumble,
Regarding your second link, there is a note at the end: "Gordon G. Chang is the author of The Coming Collapse of China". I looked up that book on Amazon, and indeed, he is the author of said book. He wrote it in 2001. I must have missed the great collapse of China in the last nine years.
(recaptcha: Shylock Britain)
3. Ndg said...
Seemingly unanticipated grief created as holiday firm business fails. Oh really?
4. paranoia blue said...
Hmmm..... Re: China’s collapse, as in the UK, merely, synthetically delayed!
5. rumble said...
Drewster, more thorough than me. How about Andy Xie?
6. simon68 said...
I can tell you that your Armageddon has begun since last year. You know what Gordon is good at? I’ve got few friends who invested in UK properties retreated the market in 2008 and same as Iceland investments in UK has been held up by British Government using the Anti-terrorism legislation. My friend’s bank HSBC told him that he could only remit the sale proceeds to Hong Kong after obtained the clearance from UK monetary authority to prove it has no connection with terrorists. It took 2 months to get clearance and the sterling has fallen which erode the gain on property sale.
I took a flight to Hong Kong in November 2009. You know what? The custom officers searched all elder Hong Kong passengers (but not White British) to see if they bring large sum of cash on the plane back to Hong Kong. The raid isn't carried out at the X-ray line but right before boarding the plane. When the custom officers find large sum of cash, they ask you to give bank statement to prove you own the money…………………if there is a sterling collapse the next move will be Foreign Exchange Control!!!!!!!!!!!!!!!!!
Gordon B is really a clever guy using camouflage exchange control. It is only UK customs officers that search passengers’ luggage for bringing money out from the country but no other nations in the world do such thing.
In United States you only need to declare the amount of cash (equivalent to USD10,000) you are bringing into the country, but nobody cares how much money you bring in your journey to overseas country. In China you are required to declare the worth of valuable personal belonging such as gold watch, jewellery for import duties imposition but doesn’t care about bringing money away.
Australia, Canada, Hong Kong, Singapore, Indonesia are having the same policy with the exception of country in serious financial distress like Zimbawe.
7. iguana said...
Simon
Outward currency checks by Customs have been in place for years, often targetting destinations where undeclared untaxed income/takings are carried to. Hong Kong is one such place, but I suspect that you already know that.
Point being that this is not 'Foreign Exchange Control', simply good housekeeping by an exchequer too often abused by those who see it as a soft touch.
Bankers are not the only ones taking us for patsies.
estimate betiding
8. simon68 said...
“Outward currency checks by Customs have been in place for years, often targetting destinations where undeclared untaxed income/takings are carried to.”
No customs in the world would check brought out merchandise/goods except for United Kingdom. Even country with foreign exchange control like China/Thailand would only check incoming passengers about goods or currencies in cash they brought in.
If what you said is true, then it is the biggest joke ever!!!
There is no such thing in HMRC rules & regulations to check outward currency.
Have you ever asked by UK Customs about currency in cash you brought in on arrival?
Do you mean currency in cash is subject to Ad Valorem?
http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageTravel_ShowContent&id=HMCE_CL_000014&propertyType=document
9. simon68 said...
You are the biggest laugh stock!!!!!!!!!!!!!!!!!!!!!!!!!!!!
How come tourists (few weeks stay) can have income/takings earned in UK?
10. quiet guy said...
It seems that Iguana is correct:
http://www.opsi.gov.uk/si/si2007/uksi_20071509_en_1
The Irish Tax authorities explain the matter a bit more simply:
http://www.revenue.ie/en/customs/leaflets/customs-excise-cash-controls.html
11. simon68 said...
YOU REALLY MAKE MY LAUGH!!!!!!!!!!!!!
Do you mean all tourists are suspects of members of organised crimes?
As I previously said Gordon B is good at using Terrorism Act as camouflage exchange control mechanism!
United Kingdom
The United Kingdom has an "all-crimes" regime[clarification needed].
Money laundering legislation in the UK is governed by four Acts of primary legislation:-
The Terrorism Act 2000[2]
The Anti-Terrorist Crime & Security Act 2001[3]
The Proceeds of Crime Act 2002[4]
Serious Organised Crime and Police Act 2005[5]
Secondary regulation is provided by the Money Laundering Regulations 2003.[6] and 2007[7]
12. simon68 said...
The Treasury make the following Regulations in exercise of the powers conferred by section 2(2) of the European Communities Act 1972 (1), being designated for the purposes of that subsection in relation to measures relating to preventing the use of the financial system for the purpose of MONEY LAUNDERING…………………..
13. quiet guy said...
Simon,
Iguana was referring to European law. This is not a UK law - it is a European law.
14. Andyh said...
Who is this guy Simon? Some CCP stooge. Stop taking us for goons mate and go and play with the other slavish mothpieces on the Shanghai internet cafe circuit. China's economy is teetering on the brink and when it pops there is nothing you'll be able to do about it. The Chinese authorities have made the same mistakes everyone else has (property bubble, over investment in non productive capacity) plus a few others (mercantilism)
15. simon68 said...
The Chinese are rich! They don’t need to worry about their bankers call loans, threaten about repossession on behind mortgage repayment, housing benefits cut, government austerity, become jobless etc…………..
I can tell you that without government bail out, half of the British banks had gone bust already!!!!!!!!
If the HSBC (Hong Kong & Shanghai Banking Corporation) hasn’t retained a close tie with Hong Kong and procured support from Hong Kong people for its right issue, it should have gone bust or asked for UK Government’s bail out at last.
16. simon68 said...
British & American Scam Banking
JP Morgan, Goldman Sachs they are all engaged in scam banking business. British and American banks shift their mortgage loans portfolio RISK to foreigners by Ponzi scheme. For instance, Lehman Brothers packaged its high risk mortgage debts/CDS/CDO portfolio into disguised mini bonds products and acts in collusion with its S & P, Fitch & Moody’s cronies to confer triple A rating to those fraudulent products and sold them to Asian in Hong Kong, Singapore and Malaysia.
Those products are banned from selling by SEC in the United States to protect American and aimed at deceiving foreigners.
17. iguana said...
QG
Simon
It seems that I have touched a sore spot. Ref legal basis, well before we joined the EU the UK had outward currency controls as a matter of course, these were more stringent during times of currency crisis. I am sure that the older travellers amongst you will remember that during the early to mid '60s we were limited to £50.00 in 'folding' currency, reduced to £25 during the devaluation crisis. The legal basis for the checks then was in the Customs and Excise Act(s). Subsequently the powers were to be found in the Customs and Excise Management Act, this was certainly the case up until 2002, but I have not had cause to look it up since.
Simon.......rather than fly off the handle about terrorism, why not look at my original post, this refers to tax fiddlers wishing to take their ill gotten gains out of the country in baggage, and as I said, I suspect that you already know that.
slack plan
18. simon68 said...
TO: iguana
I don't think those fiddlers need to bring ill gotten money to overseas country (in baggage).........................nor do they have a root/foreign passport in overseas countries.
It is just camouflage exchange control period.
Frankly speaking, I don't think 4 grand is substantial sum of money!
If they want to remit millions of un-tax money overseas, there are plenty of accountants/offshore bankers who can furnish tax planning advice. They wouldn't bear of risk of being robbed by carrying a bag of millions pound notes on the plane.
19. simon68 said...
Such tricks can only freak out foreign investors, speed up the outflow of funds away from Britain!
20. simon68 said...
To: rumble
As I said in another thread about China government to impose requirement for foreigner to have a good command of Chinese Language to settle there, it is only reciprocal arrangement following UK policy.
The Chinese Government learned from Australia to impose resource tax on exporting natural resources overseas…………….Australia impose 30% tax but China just 5%, who didn’t play nice?
Honi soit qui mal y pense (Evil to him who evil thinks)
By the way, UK never pays for its purchase……………just raise more debts!!!!!!!!!!!
21. the number cruncher said...
Simon are you by chance a paid blogger in the employ of the PRC?
22. quiet guy said...
"during the early to mid '60s we were limited to £50.00 in 'folding' currency, reduced to £25 during the devaluation crisis."
Oh, we're talking about the sixties now are we? Iguana's and my comments were clearly phrased in the present tense i.e. now. Today, the UK does not have currency controls but we do implement European law - see post no. 9. As far as I can determine from Google, the UK abandoned currency controls in 1979.
I guess it's just too painful for you to admit you are ever wrong.
23. simon68 said...
To: the number cruncher
Do you think Michael Geoghegan and Anthony Bolton relocate to China because of fun?
To me, I am interested in China because it brings me wealth.
http://img401.imageshack.us/img401/8084/700.gif
To them, the reason may be small pond raise small fish where big pond raise big fish. I am sure India will overtake China in the future decades and attention will shift accordingly.
I will of course be a blogger for Britain on the day of its renaissance.
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