Translated by MOS Buddism Team Accelerator
Recently, the Evergrande default exposed the vulnerability of CCP’s kleptocratic economy over the last 20 years. Mr.Miles Guo pointed out that the local government debt is the source of CCP’s financial nuclear bomb.
Miles Guo points out that the real figure of accumulated local government debt, like the dustbin of CCP’s finance, exceeds 107 trillion RMB, approximately 15 trillion USD, e.g. the Bank of Kunlun holds the local government bond up to 400 billion RMB. External debt default of state-owned enterprises and central enterprises in various localities, as well as CCP’s illicit trade with Iran, North Korea, Africa, and Pakistan, contributed to these debts.
In CCP’s dual financial system, the money supply has increased fortyfold in the last 20 years while the GDP is merely 12 times that of the year 2000. To date, CCP’s total offshore RMB amounts to roughly 3 trillion USD. Thus, the local government debt is almost equivalent to GDP and foreign claims are merely worth one-fifth of local government debt. Once exploded, these debts will destroy both domestic and international financial markets.
Mr.Guo expresses that capitalism demonstrates greed to the fullest in the last 20 years. CCP abused shadow bank and bill finance to continually increase the local government debt and works in collusion with the western capitalist. American hedge fund managers were complicit with Qishan Wang, Liang Zhou, Mingzhe Ma, and others for massive illicit enrichment. It is a vampire model given that the earnings yield hits 1800% at one point and the magnitude of the fund is up to 200 billion USD with only 30 maintenance staff.
In the last 20 years, Chinese people have become slaves of capitalism and unconsciously carry human’s biggest financial nuclear bomb on their heads. Once this bomb is triggered, the deplorables of the West will be left impoverished, brewing a huge humanitarian crisis for ethnic Chinese overseas.
Proofread and Edited by: Paratrooper
Posted by: Paratrooper
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