President Donald Trump has called for the World Bank to stop lending money to China, a day after the institution adopted an annual loan plan to Beijing over Washington’s objections.
Donald Trump tweeted hours ago, “Why is the World Bank loaning money to China? Can this be possible? China has plenty of money, and if they don’t, they create it. STOP!”
Treasury Secretary Steven Mnuchin said at a congressional hearing that the administration opposes the plan by the bank. “The Treasury Department has negotiated significant reductions on China lending by the World Bank,” he added.
US Senator Chuck Grassley told that on December 5, the World Bank is about to sneak through a plan to give China loans in billions of dollars. And a 200-page document presented at the World Bank board meeting shows that the World Bank is to continue lending 1.5 billion per year through IBRD. This document was put together by the Chinese Ministry of Finance.
Pascale Dubois, Head of the World Bank Integrity Department, discovered massive contracting fraud at China Railway Construction Corp (CRCC) and up to 700 subsidiaries that had been formed to commit serious fraud.
Dubios sanctioned CRCC and its subsidiaries and barred them from receiving World Bank contracts. Shortly thereafter, Shaolin Yang, World Bank’s manager director from China, fired her on the spot. Why does the Chinese Managing Director of World Bank have the authority over their Inspector General? It is shocking that there is massive corruption within the World Bank and the CCP is exporting its corruption to the world, according to noted hedge Fund manager Kyle Bass.
Kyle Bass said, “We need a massive investigation into the Chinese delegation of the WB and how they became the Managing Director, the Treasurer (of all five entities), the Head of HR, and even the Head of Ethics! We have a CCP member as the head of ethics for the WB!”
Kyle Bass pledged in his tweets, “Cut China off from the World Bank immediately. It’s insane that they are borrowing dollars at U.S. Taxpayers’ expense,” as the United States is the largest contributor to the institution which provides low-interest loans to low-income nations.
CCP killer Guo Wengui told that, according to an official from the White House, Chinese government has requested a loan of 10 billion US dollars in the 200-page document. “Where are they going to spend the money? I am sure over 90% of the money is going to spend in the construction of re-education camps in Xinjiang, more prisons in Guangdong and Guangxi, the crackdown of protesters in Hong Kong, and more importantly to facilitate the lives and invest in the private businesses of CCP leaders or their families.”
Guo told that he was sure most of the past loans by the World Bank to the CCP regime had not been paid back in time. While World Bank loans are supposed to be used for reliefs of suffering people in under-developed countries, the CCP regime has never used the money for the benefits of ordinary Chinese.
“The Chinese government is already bankcrupt,” financial analyst Lao Jiang said with Ludepress, “In black market or underground banks in the mainland, it is very difficult to exchange US dollars at 1:10. Many people have to buy US dollars at 1:30 or even 1:50 to get out of China. Conditions could be much worse in the following weeks.”
When the underground market is so hot with the US dollar, ordinary Chinese citizens won’t be able to buy any US dollars from commercial banks and this will cause serious problems to people’s lives. Overseas study and travel will become very expensive.
I personally have a case with my money transfer. Six months before, it took seven days to transfer money from my bank. And that was normal. In October, I did another transfer but the transaction took 22 days.
According to Guo.media, China’s financial system is collapsing and nearly all commercial banks have to borrow large amounts from the Central Bank to survive the crisis that they are facing. But the fake banking system would not stand long.
China’s foreign exchange reserves fell $9 billion in November to $3.096 trillion, central bank data showed on Saturday.
Analysts polled by Reuters had expected China’s reserves, the world’s largest, would ease to $3.101 trillion from $3.105 trillion in October. But they have been generally trending higher this year, despite the slowing Chinese economy and the escalating U.S.-China trade war.
The value of the country’s gold reserves fell to $91.47 billion at the end of November from $94.65 billion at the end of October, according to Reuters.
The CCP’s Central Committee held a meeting Friday to analyze and study the economic work for 2020 and make plans for improving conduct and building integrity as well as fighting corruption.
“Facing the complicated situation of rising risks and challenges both at home and abroad this year, China has maintained sustained and sound economic and social development,” Xinhua said about the meeting.
This meeting was not held according to schedule; behind the theme of “fighting corruption” and “building integrity”, there are much greater challenges that Xi Jinping and the CCP are facing.
Those challenges relate to the life and death of the Communist regime.
by Cloudy Seagail