On Steve Bannon’s War Room he has been railing about his for a few days now and he sees it exactly the opposite of your post, not saying either of you are right or wrong...
Chinese Companies have been allowed to list themselves and go public in US Capital Markets like the NYSE and NASDAQ.
They have been allowed to do this without providing any audited financial results, like all American Companies and Companies in every other country...
A law was passed by the US Congress that required these companies to provide audited financial results...but to this point NO Chinese Company has complied and nothing has been done about it...
As these Chinese Companies have gone public, without providing audited financial data, they have reaped up to 1 trillion in capital infusions.......
So the Chinese Companies go public, reap billions in capital and then get pulled from the Exchanges, after they have been paid....thereby screwing whoever paid them the money....
Where does the money come from ??? Primarily Investment Banks and Hedge Funds who have dumped billions into Chinese Companies...
Where do these Hedge Funds and Investment Banks get the money to throw into these Chinese Companies...??
Primarily the money comes from US PENSION FUNDS....
So that 1 trillion in stock market loses are not coming out of the Chinese Companies they are coming out of US PENSION FUNDS....
Bannon’s point is, this is creating the Mother of Unfunded Pension Fund liabilities...to the tune of 1 trillion $$$ and counting....
Basically every time China pulls one of these companies off the NYSE or NASDAQ, they are screwing US Pension Funds....remember the Chinese Companies most of whom have already been paid after they went public....and we have no idea if these companies are legitimate because none of them have provided audited financial results...
Talk about Economic Warfare on a Gigantic Scale.
We are screwed, China has played us, big time, and at this point, there’s not much we can do about it.
Excellent post!
Thank you for that Bannon recap.
I recall Trump calling out this fact...that these Chinese cos are allowed to trade on NYSE/NASDAQ with NO regulation!
God bless Bannon for calling this out....fwiw.
So, we wonder....where are our politicians and where are these pension fund managers screaming out about this?
I’m speculating that this is exactly how they’re all being paid off.
They’re saying to heck with us.....their pockets are nicely lined.