General Spalding: What we know about the Chinese people and the Chinese Communist Party, well, who was supposed to warn us about this? We are the experts on China. Now why didn’t the experts on China warn us about the Chinese Communist Party? They were going over on junkets. Paid for by the Chinese Communist Party, granted visas by the Chinese Communist Party.
Bloomberg did a fantastic article on Xi Jinping’s family when he took power, and how wealthy they had become, and Michael Bloomberg was warned, “If you don’t stop this, your Bloomberg terminals will not work in China anymore.”
Kyle Bass: In fact, they turned them off for a while. This is the (indiscernible) story.
General Spalding: And then all of a sudden, Bloomberg’s self-censoring when it comes to reporting about the Chinese counterpart.
Kyle Bass: It’s actually worse than that. I think Bloomberg is gone on the offensive against China hawks.
General Spalding: Well, I think so, because if you think about it, globalization actually helps Wall Street. Because they earn a fee on equities or bonds.
Kyle Bass: Bloomberg wants to sell more terminals.
General Spalding: Bloomberg wants to sell; Blackrock wants more money.
Kyle Bass: Right, exactly! The casinos want more gambling. They want this financial integration.
General Spalding: My point about lying the profit incentive to Chinese Communist Party national interest, it doesn’t just work in China. It works here, too. It works in Europe; it works in Africa; it works in Asia. All you have to do is figure out how do I get you incentivize financially or economically and then you’ll do what I want?
Interview source:Real Vision
Notes taken by staff