Phoenix Associates Land Syndicate (fka PBLSQ)

[EDDIEHAZEL]

The RMB is not a currency that is easily converted. If you read the 10-k's and 10-Q's of legitimate chinese companies, you will see the following, or something very similar.

"However, approval from appropriate government authorities is required where RMB is to be converted into foreign currency and remitted out of China to pay capital expenses such as the repayment of bank loans denominated in foreign currencies. The PRC government may also at its discretion restrict access in the future to foreign currencies for current account transactions. If the foreign exchange control system prevents us from obtaining sufficient foreign currency to satisfy our currency demands, we may not be able to pay dividends in foreign currencies to our shareholders."

this would be found under "Governmental control of currency conversion may affect the value of your investment" on any 10-k of a chinese company that files with the SEC