Exiled Oligarch bitches about the CCP

Authored by Serban V.C. Enache via Hereticus Economicus:

Kyle Bass interviews infamous Chinese businessman Guo Wengui, also known as Miles Kwok, to hear a series of ‘shocking’ accusations against the Chinese Government and Party. Kwok talks about the workings behind several recent high-profile news items and touches on the CCP’s management of the economy. He also makes an alarming forecast about Alibaba co-founder Jack Ma. Filmed on October 5, 2018 at an undisclosed location.

My comment: China’s foreign currency reserves DO NOT sit within China, but in special accounts at the ledgers of foreign central banks. US dollars owned by the Chinese [in reserves and treasuries] sit on the Federal Reserve’s ledger! These accounts can be frozen or deleted outright, if there’s sufficient political will for such an action, just like the US and the UK did with Venezuela’s foreign assets. China’s economic model rests on being a huge net importer of aggregate demand. China’s physical output capacity is unquestionable, it’s a fact. To say that the Chinese economy is fake is nonsense. As for the amount of bad loans Chinese banks make, what’s so surprising? Look at all the bad debt, at all the derivatives in Western countries. China isn’t in danger of insolvency. The Government spends and taxes in its own fiat currency. It can operate with negative equity, denominated in its own currency, indefinitely. The CCP makes an assassination look like an accident. The US-Israel Deep State makes an assassination look like a suicide [if Epstein’s death wasn’t faked]. His prediction that the CCP is going to collapse in two years time is pure fantasy.

I find it amusing that rich businessmen associated with governments unloved by the Western Establishment are called oligarchs, but if these oligarchs are critical of their own governments and friendly toward the Western Establishment, they are deemed as honest merchants, honest entrepreneurs, and even whistle blowers. It doesn’t matter that the Saudi regime violates human rights and liberties, that it tortures and kills people – it doesn’t matter because the Saudis treat oligarchs well. And that’s what matters in the eyes of the West. We don’t have a problem with your methods, with your crimes, so long as you show respect to our trans-national ‘business community.’

Kyle Bass, even though expressing doubt over some of Kwok’s claims [in some cases pure slander, like the reference to Hu Jintao] didn’t ask for any type of proof. It’s no secret that corruption and violent score-settling exists among and between China’s elites within the political sphere and the bureaucracy [the party-created and state-created oligarchs]. But why must we act so surprised, as if these things don’t happen in our own countries too, I don’t know?