George Soros vs BlackRock: The CCP’s Internal Struggles & Evergrande’s Executives Jumped Boat In Advance
Hello, everyone, welcome to “Inconvenient Truths”. I am your host Jennifer Zeng.
Last time we talked about billionaire investor George Soros’ sharp criticism of BlackRock’s decision to invest in China, and a little bit of the history of Wall Street and the CCP’s relationship to it. I promised that I would talk about the complex relationships among George Soros, BlackRock and the CCP. Well, today I will fulfill my promise. I will also give you some updates regarding the developing news about China’s largest real estate developer Evergrande. Please do make sure you stick around till the end, as the message at the end is very, very important.
Now, let’s jump right to our first topic.
[1] Protests Continue and Expand to Other Developers
Last time I showed you some footage of the victims of Evergrande’s default. Now, let’s watch more. This video is a combination of many clips from different cities.
You could see that there were a lot of police running into the building to “maintain order.”
Now, let’s watch another 2 videos of police using force, and police inside the Evergrande’s headquarters.
Now another video.
This video shows victims sitting on top of the building and threatening with suicide to get their money back.
Now, let’s watch another one of the victims protesting at the official building of the No. 4 real estate developer called Rong Chuang.
Now another one from Lǜdi (绿地), also a top 10 developer. The words on the protestors’ T-shirts say “Lǜdi, take back your apartments!”
So now let’s see Evergrande’s share price.
Share Price of Evergrande since June.
This is the share price since June this year. Other real estate companies’ share prices are pretty much in the same situation.
[2] Executives Jumping the Boat in Advance
Now, how serious is the problem?
According to a staff member of Evergrande Wealth, Evergrande Wealth has a total of 700 to 800 investment advisors nationwide, with a total of 80,000 to 100,000 customers and an investment scale of about 100 billion yuan, or about $15 billion and the current unpaid funds are about 40 billion yuan, or $6.22 billion.
According to Chinese official media, chairman of Evergrande Xu Jiayin's wife Ding Yumei, general manager of Evergrande Wealth Du Liang & his father, and a number of Evergrande executives, have all redeemed their investment in advance. Xu Jiayin's wife had 23 M yuan withdrawn. Du Liang and father cashed out 9M yuan.
Actually, Du Liang himself admitted that he cashed out in May. Let’s watch his admission.
[3] To Save or Not to Save Evergrande, That Still Is A Question
Last September I did a show called : “Evergrande: To Save or Not to Save? Is China’s Financial Crisis Coming?”
You can see from this that in the past 48 hours, this one year old view suddenly got a lot of new views. It shows people are searching for it.
You can see from this that in the past 48 hours, this one year old view suddenly got a lot of new views. It shows people are searching for it.
I joked on Twitter that I was sometimes one year or more ahead of time & your typical "mainstream" media.
Well, last year Evergrande “blackmailed” the local government successfully and forced them to bail it out.
One year later, the problem became bigger, as Evergrande’s total debt has reached 2 trillion yuan, or $ 310 billion. At such a debt level, it needs to pay 100 billion yuan, or $15 billion interest every year,
It also has 800 unfinished projects, and 1.2 million are waiting to move in these unfinished projects.
Also, Chinese authorities have already told major banks that Evergrade will not be able to make the loan interest payment due on Sep. 20.
So, to save Evergrande, or not to save Evergrande is still a problem, but this time, for the central government.
If the CCP let Evergrande go bankrupt, the bank system, other financial institutions, the entire real estate market, the job market, and even the entire Chinese economy will all suffer landslide crises.
But is the central government able to save it? We have to wait and see.
Now, let’s move to our last topic today. How to look at the relationships among billionaire investor George Soros, BlackRock, Wall Street and the CCP?
[4] Three Articles by George Soros
You might have noticed that George Soros has been attacking Xi Jinping and his regime very aggressively recently.
On August 13, he published an article “Xi’s Dictatorship Threatens the Chinese State”, with such a subtitle: “In his quest for personal power, he’s rejected Deng Xiaoping’s economic reform path and turned the Communist Party into an assemblage of yes-men.”
He said that at the heart of the “growing conflict” between the U.S. and China “is the reality that the two nations represent systems of governance that are diametrically opposed.”
He then criticized Xi Jinping as the “most dangerous enemy of open societies in the world”, and said Xi failed to understand how CCP’s second generation leader Deng Xiaoping achieved his success.
He said that Deng wanted China to rise within the open societies in the world, and his “approach worked wonders. It even dealt with the global financial crisis of 2007-08 better than the developed world.”
Then, on August 30, Soros published another article “Investors in Xi’s China face a rude awakening”, with such a subtitle: “The leader’s crackdown on private enterprise shows he does not understand the market economy.”
On the same day, he also published another article “BlackRock’s China Blunder”, with a subtitle “Pouring billions into the country now is a bad investment and imperils U.S. national security.”
I don’t know what you think about Soros’ criticism of Xi Jinping.
I also don’t know whether you have noticed that while attacking Xi Jinping, Soros praised Deng Xiaoping and said that Deng’s “approach worked wonders. It even dealt with the global financial crisis of 2007-08 better than the developed world.”
[5] Getting Rid of Xi Jinping but Keeping the CCP?
Actually, back in 2010, Soros openly praised the CCP by saying that “China has better functioning government than U.S.” and China has “a more vigorous economy.”
So, it is very obvious that what Soros is against is not Deng Xiaoping, or the CCP, he is only against Xi Jinping.
Remember I mentioned a very long article called “THE LONGER TELEGRAM: Toward a new American China strategy” before? That article expresses the same idea.
Recently we also talked a lot about Xi Jinping’s drunken boxing of eliminating one industry per day. From Alibaba, to Didi Chuxing, from English study, to movie star Vicky Zhao, so many companies, industries and individuals got targeted … Seems nobody understands what Xi Jinping really wants to do and to achieve.
Well, all these, including Soros’ sharp criticism against BlackRock and Xi Jinping, are related to different understandings of how to achieve communism, or Marxism, as well as to the internal power struggles within the CCP.
For George Soros and people like him, what they want are the times when the CCP had Deng Xiaoping and Jiang Zemin in power, when Wall Street and the CCP happily made money together at the cost of ordinary Chinese people, as well as people in the West.
It was fine for Deng Xiaoping to roll tanks into Beijing and kill the students at Tiananmen Square, and it was fine for Jiang Zemin to persecute Falun Gong and harvest Falun Gong practitioners’ organs to make big money.
Have Soros and the like ever bothered to criticize those anti-humanity crimes of the CCP?
No. Actually, the goal of the globalists is similar to that of Marxists in some senses. They all want to promote something, and achieve something in the entire world. Their stage is the entire planet. Only their means are not the same. One faction talks about non-violent ways, such as the “long march through the institution”; another faction talks about using violence to “liberate the entire world”, before liberating the proletariats themselves.
Why doesn’t Xi Jinping care about destroying companies like Alibaba and Didi? Because, these companies are actually Xi Jinping’s political enemies’ wealth.
Why did Xi Jinping choose to destroy Hong Kong too? Because Hong Kong was also pretty much in his political enemies’ hands.
Who are Xi Jinping’s political enemies in China? Former leader Jiang Zemin, Zeng Qinghong and their factions are two main ones.
[6] Beijing Stock Exchange, BlackRock and Xi Jinping: Are There Any Deals?
I am not sure whether you’ve read the news that Xi Jinping recently unveiled the Beijing Stock Exchange, after he destroyed many Chinese companies’ future opportunities to get listed in the US stock market. So Beijing Stock Exchange will be the third stock exchange in China, and is said mainly to boost China’s domestic capital markets and expand financing access to small and medium-sized enterprises.
There was another piece of news that many people ignored. In March this year, BlackRock closed its private fund unit in Shanghai. Then, 6 months later, it launched mutual funds in China, exactly at the same time when Xi Jinping announced the plan for Beijing Stock Exchange.
So why did BlackRock go against the “tide” and enter China at such a “bad time”? Why did it close its much safer private fund unit in Shanghai and venture into the more risky world of mutual funds in Beijing? Could it be that it had already reached some kind understanding with Xi Jinping?
These, my friends, are all just some assumptions for you to ponder about. You can choose to believe, or not to believe them.
But one thing is for sure. That is, there is no such a thing as a better CCP leader in China. There did once exist one or two better ones, such as Zhao Ziyang, who was sympathetic with the Tiananmen students in 1989, and Hu Yaobang, who tried to correct some of the mistakes the CCP made during the Cultural Revolution in the 1980’s.
However, because they were not bad enough for the CCP, they soon got removed or eliminated from the system. Zhao Ziyang was jailed in his own house for 16 years until he died in misery in 2005.
[7] No Differences Between the CCP’s First and Second 30 Years
So, Soros might think that Deng Xiaoping’s time was a good time for people like him. But he failed to realize that without Deng Xiaoping’s time, and Deng Xiaoping’s efforts to steal technology and suck money from the West, there wouldn’t have been such a thing as Xi Jinping’s time. Exactly because of Deng Xiaoping’s time and Deng Xiaoping’s efforts, Xi Jinping gained the ability to bully around in the world now.
A while ago people in China were discussing how to look at the CCP’s first general leader Mao Zedong’s time and Deng Xiaoping’s economic reform and openness policy. Xi Jinping said very clearly that you cannot use the first 30 years of the CCP’s rule to deny the second 30 years, nor can you use the second 30 years to deny the first 30 years.
So, in Xi Jinping’s eyes, and maybe very correctly so, there are no differences between the first and the second 30 years of the CCP’s rule in China, as they all belong to the CCP, they have all contributed to, and created the “strong CCP” that the world has to deal with now.
[8] How is the CCP Different from Saddam Hussein and Osama bin Laden?
It has always puzzled me, why was the US willing to launch a war against Iraq and overthrow Saddam Hussein's regime when it was convinced that Iraq had chemical weapons of mass destruction, but is unwilling to do anything about the CCP when the CCP has been mass killing its own people for all these years? Why treat Saddam Hussein and the CCP differently? Why the double standard?
However, after observing for a while what has been happening in the US and the West, it seems that I understood.
Unlike Saddam Hussein, or Osama bin Laden for that matter, the evil specter of Communism, which controls the CCP, also has its own representatives in the US and the West. These representatives undermine the freedom and traditional values of the West from within, and in disguise, with another system of terminology other than that in communist China. Therefore people didn’t discover or realize it.
Look at the US today. Look at the education system, look at the textbooks in our schools, look at Hollywood, and look at the latest example, General Milley, who secretly called the CCP and promised that he would notify the CCP if the US planned to attack the CCP.
Sometimes we think democracy is good, and strong enough to defend us, but do you know how the CCP looks at this matter? Everything has loopholes that the CCP can take advantage of.
For example, CCP’s national advisor Jin Canrong once said: “We in the Chinese government hope that in the end, every U.S. Congressman's district will have Chinese investment, and China will be able to control one thousand or several thousand votes, and then we can influence his (the congressman’s) attitude.
“In fact, the U.S. House of Representatives can be controlled, because the United States has 312 million people, and 435 members of the House of Representatives. On average, a congressional district has about 750,000 people, 750,000 people's voter turnout is only 30%, that is, about 200,000 votes can decide his fate (the fate of the congress candidate).
“Generally speaking, the numbers of votes for the two candidates are very close, the gap won’t be particularly large. So in the end, I guess there is only a difference of 10 thousand or several thousand votes. Therefore, if you can have several thousand votes in your hands, you are as good as his father/master.
“If China conducts good operations in the US, we may be able to buy it over, and turn the US into our second Standing Committee of National People’s Congress. ”
So, he was basically saying that it is fairly easy to manipulate and control the US elections, and he made this speech back in 2016.
So you don’t think the CCP would really take steps to go ahead with its national advisor’s tactics and strategy?
Now, I hope I have explained clearly the relationships between Soros, BlackRock, Wall Street, Xi Jinping and the CCP.
[9] Is the United States Moving Toward Totalitarianism?
Yesterday my new contributor Mr. Guppy Dong wrote an article in Chinese, titled “All the conditions are in place for the United States to move toward totalitarian rule.”
Some of the “conditions” he listed include denying history, denying the constitution, creating ethnic divisions, destroying elections, promoting atheism, and preparing for internal repression, etc.
After I shared his article on social media, some people didn't believe it.
Thomas Guo, a human rights lawyer in Canada, said this: “Author seems to have misunderstood what totalitarianism is. The USA is far far from it. The CCP and North Korea are the only remaining two totalitarians nowadays. They are extremely left, while the USA Democratic Party might be mid left now. Totalitarian regime must be one party system, no free media, neither independent judiciary nor civil society. Should not mix the CCP with the USA.”
Another person I don’t know said this in Chinese: “Totalitarian states have several characteristics: one leader, one party, one doctrine... Is this what America is like? You are exaggerating all day long!”
Well, is Mr. Dong exaggerating all day long?
I hope you leave us a comment and tell us what you think.
That’s all for today. Thank you very much for watching. Please subscribe to and share my channel if you haven’t. And I will see you next week!
9/16/2021*
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