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A bank employee counts out 100 yuan notes at a bank in Shanghai on Aug. 8, 2018. (Johannes Eisele/AFP via Getty Images) Recently, a number of private real estate companies in mainland China went bankrupt, and Chinese state media blamed the problem on illegal loans by private banks.
Some financial commentators believe that private banks will become targets for suppression under communist leader Xi Jinping’s regime.
China’s state outlet Economic Daily published a op-ed on Oct. 15, claiming that many private banks have recently been fined by regulatory authorities for “violations of laws and regulations.” The article criticized some private banks for blindly seeking large borrowers to lend a large amount of loans, which could have unintended consequences; lending to real estate projects in violation of regulations; and the largest shareholders excessively intervening in the operation and management of the banks.
The article states that the reasons why private banks have conducted business in violation of laws and regulations are “not only related to the inadequate supervision and the profit-seeking nature of private capital, but also related to some of the disadvantages of private banks.” However, the article also emphasizes that “disadvantages” is not an excuse for illegal operations. It states that private banks must adhere to a baseline of risk; ensure that systemic and regional financial risks do not occur; ensure the safe and efficient operation of the financial market and overall stability; and complement state-owned banks and joint-stock commercial banks.
The article warns that the relevant regime departments must be alert to the “barbaric growth” of some private banks to effectively prevent financial risks. It also urges departments to guide banks to return to their original purpose of serving weak links in the real economy, and conduct in-depth investigations into constraints of the development of private banks, and introduce more targeted solutions to gradually alleviate the obstacles of capital replenishment policy.
Law Ka-chung, a Hong Kong economist and former chief economist of the Hong Kong branch of the Bank of Communications, told Radio Free Asia (RFA) that the Chinese regime wants to target certain people and businesses, and hopes to reduce the […]
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker