Posted on 07/10/2022 9:36:50 PM PDT by MinorityRepublican
Chinese authorities on Sunday violently dispersed a peaceful protest by hundreds of depositors, who sought in vain to demand their life savings back from banks that have run into a deepening cash crisis.
Four rural banks in China's central Henan province have frozen millions of dollars worth of deposits, threatening the livelihoods of hundreds of thousands of customers in an economy already battered by draconian Covid lockdowns.
Anguished depositors have staged several demonstrations in the city of Zhengzhou, the provincial capital of Henan, over the past two months, but their demands have invariably fallen on deaf ears.
On Sunday, more than 1,000 depositors from across China gathered outside the Zhengzhou branch of the country's central bank, the People's Bank of China, to launch their largest protest yet, more than half a dozen protesters told CNN.
The demonstration is among the largest China has seen since the pandemic, with domestic travel limited by Covid restrictions on movement. Last month, Zhengzhou authorities even resorted to tampering with the country's digital Covid health-code system to restrict the movements of depositors and thwart their planned protest, sparking a nationwide outcry.
This time, most protesters arrived outside the bank before dawn -- some as early as 4 a.m. -- to avoid being intercepted by authorities. The crowd, which includes the elderly and children, occupied a flight of imposing stairs outside the bank, chanting slogans and holding up banners. "Henan banks, return my savings!" they shouted in unison, many waving Chinese flags, in videos shared with CNN by two protesters.
Using national flags to display patriotism is a common strategy for protesters in China, where dissent is strictly suppressed. The tactic is meant to show that their grievances are only against local governments, and that they support and rely on the central government to seek redress.
(Excerpt) Read more at cnn.com ...
Bank runs
Good thing that could never happen here
again
or something
China is quickly becoming as bad as Canada.
Frightening
Try typing the words “bank panic” in the comments section of YouTube. Back during the Ottawa truckers protest, when Fidel Trudeau locked up the protester’s bank accounts, the algorithm spazzed out at the thought.
The bank runs are fallout from the financial contagion from the R/E developers like Evergrande.
So Trudeau out-committed the Chinese commies? I like that!
Now you know why we are boycotting Canada. Had been going there since 1956 and saw the swearing in of Dieffenbaker as PM. Canada was a democracy back then.
They have F-14s and nuclear bombs to put them down.
No Native American seniors to stomp with a horse, though. I guess they’ll have to invade the US to find those.
A foreshadowing of things to come.
People need to wake the frak up!
‘Our Dystopian Future and more with Max Igan’
https://freedom.social/ftvgvideo/guest/1027892
Notable in that this is from the “new” CNN,
Yeah
Yeah, and here I am trying to save just a little scratch in case.
But the banks have been concerning me since George W Bush’s 2008 disaster.
Now things are supposed to be better.
Still, after Covid-19(84) it’s hard for me to trust anything about the way the world is now.
Get yourself some gold bullion, hide it under the floorboards. Canned goods and a shotgun, too.
This has been going on for a while. Really makes one pondor just how unstable China really is.
Bank runs
Continuing lockdowns
Lack of food
Threat of Taiwan invasion
Desperate countries do desperate things.
I am curious at what point the Party will decide to simply start shooting protesting depositors. Their number one consideration since 1949 has been maintaining party control. Nothing, including cooked books and peoples livelihoods can interfere with Party dominance.
Got the canned goods and the shotgun
Haven’t ever fired a 12 gauge
It’s a nice Mossberg 500 - brand new
I only have 7.5-8 shot
I’ve got 2.5-3 - supposedly it takes both?
Don’t really know anything about shotguns - I’m a pistol shooter
Don’t know what the kick will be like
Any comments appreciated
I don’t intend to go 00 but might consider 4
Can’t afford gold bullion
Beef 🍖 or chicken 🍗 bullion maybe 😜
Bookmark
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.