Posted on 05/21/2020 5:51:34 AM PDT by SeekAndFind
If there's one thing the Chinese can count on from their government, it's theft. For millennia, the unelected despots of China have robbed their people of their money. The communists are doing it today. There are four state banks in China, and there is no other place that is allowed to take money on deposit.
These banks pay virtually no interest, and no deposit in any bank controlled by communists is safe. If the government needs to, it'll just take it. All this money is being used right now in service of whatever goal the communists choose. There is no independent business purpose for these banks. They are just agents of the party.
There is a lot of wealth in China right now. For thousands of years, the ethnic Han have labored mightily, and to good effect. They are a hardworking people, disciplined and smart. They make a lot of money, and they want to get it out of China. There's only one place they want to put it: into the safety and security of the U.S. dollar, the world's currency.
If you think Federal Reserve chairman Powell is going overboard with his pledge to print as much money as it takes to avoid a depression, think again. He knows exactly what he's doing and why. In order to stand strong against the Chinese communists, this country must have a strong economy. It's a question of national security and national sovereignty. Going into debt, under these circumstances, and for national security reasons, is our only way out of the hole COVID-19 put us in. Only once our economy is up and running can we take on the communist government of China.
(Excerpt) Read more at americanthinker.com ...
It is strictly against the law for the people of China to export their money. But these are clever people, and they're finding ways to get their money to America. In that they are joined by the nervous rich all over the world, from the countless countries all over the globe where the economy is in big trouble and the future looks bleak.
These enormous inflows of capital allow us to expand our currency without inflation. The good people of China are doing their part. They are secure in knowing that their money is safe here in America, if they can ever get here.
Also note this — China is planning to let Hong Kong simply go to hell rather than give them the freedom they demand. Even as we speak, they are building an alternative to Hong Kong in the neighboring city of Shenzen and the Island of Hainan ( which is BIGGER than Hong Kong in land size ).
Get ready to accept the influx of residents of Hong Kong that will come once the communists extinguish what little freedom they have. It’s just a matter of time, and it could come any time.
There are seven and a half million people in Hong Kong, and I believe we should be ready to take half of them. They would be the most talented and wealthy political refugees in the world. They are capitalists, and entrepreneurs, and this country will be more wealthy with them.
And German Jews and Hungarian Freedom fighters like Sebastian Gorka, these people will be the sort of Patriotic citizens that America needs.
Hong Kong just had a protest this week.
Some Pro-government media in Hong Kong described protesters wearing black as thugs, even unemployed or some young people who were politically abetted, but the other side recorded the central business district Elite professional intellectuals in society, etc. Wearing suits and high heels still resentment against the regime
Central Hong Kong is the heart of local elites and business lifelines so far. The British was also the capital of Hong Kong, the official capital of Victoria City 1841-1997 Or Victoria City), central is the highest tax and salary ratio in Hong Kong. Hong Kong citizens pay taxes such as government spending such as the salaries of the cssa new immigrant public housing police force. During the wave of anti-delivery, he rife has gradually risen up, and the Central Business District Elite, who are labelite of the central, who are busy working with the rest of lunch, chose to walk with the struggles, and a large number of White Collar White-collar beauty and white collar beauty and Citizens, together in the central business district with the contenders.
Foreign current affairs comments described it:
[I’ve never seen such a demonstrator like this before! PM
[the battle of heels... this is what I’ve seen in Hong Kong]
https://www.facebook.com/groups/playhard.hk/permalink/2990644461011448/
RE: Hong Kong just had a protest this week.
Thousands of protesters ... no social distancing? Do we see a second wave coming in a city that has successfully contained the spread of the virus?
“If you think Federal Reserve chairman Powell is going overboard with his pledge to print as much money as it takes to avoid a depression, think again.”
Because that worked so well in Weimar Germany and Zimbabwe.
L
Hong Kong’s richest man, Li Ka-shing, has been moving his money out of China, and now Hong Kong. He has seen the writing on the wall. A tsunami of refugees from Hong Kong is coming. Some will leave for Taiwan. Others will flee to the West. My guess is that Xi Jinping will let them leave rather than risk the trade ructions with the West that large scale slaughter and persecution would cause. In time, trade with China will winnow down to levels last seen before Nixon went to meet Mao.
A rich man from China named “Ka-shing”? Ka-ching!
It’s not hurting us to print trillions of dollars because we are artificially shutting down the economy. Once it starts to run again, how do we remove trillions of dollars so we won’t cause inflation?
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This is actually foreign currencies.
ChiComs just print more ChiCom when they need it.
Remember Communists rule at the point of a gun ALWAYS
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I thought this article was about the differences between China and the USA. :)
China is going to rue the day they didn't just leave Hong Kong alone and treat as a red-headed stepchild that throws occasional temper tantrums. This attempt to force the city into conformity is going to add big financial problems to an already shaky mainland economy.
[It is only possible today to wire large amounts of currency to Chinese suppliers through Hong Kong bank accounts - if the West decides those banks can no longer fulfill that function reliably all payment for Chinese goods ceases overnight. ]
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