90 Miles From Tyranny

Saturday, July 9, 2022

‘Dead-end’: China may be on the verge of a major debt crisis, experts say

Recent bank runs throughout China and the country’s collapsing real estate market are merely symptoms of an impending national debt crisis, multiple experts told the Daily Caller News Foundation.
“The amount of debt is too large for Beijing to deal with,” Gordon G. Chang, author of “The Coming Collapse of China,” told the DCNF.
“The Chinese economy lacks growth engines and innovation,” Jennifer Zeng, host of the YouTube show Inconvenient Truths, told the DCNF.

China may be on the precipice of a serious debt crisis amid a faltering real estate market and previous bank runs throughout the country, experts told the Daily Caller News Foundation.

Chinese authorities arrested several suspects for misappropriating $6 billion from banks on June 18 after customers were unable to withdraw funds in May and June, prompting bank runs to spread in central China, according to multiple sources. Bank runs emerged just months after China’s largest residential developer, Evergrande, defaulted under a $305 billion debt obligation in December 2021, sending shockwaves through the nation’s real estate market.

Although Chinese authorities made arrests in connection with the bank runs, China’s unacknowledged debt crisis is actually causing cash shortages and ensuing bank runs, Gordon G. Chang, author of “The Coming Collapse of China,” told the DCNF.

“Chinese authorities are moving against whom they consider to be the perpetrators, but the issue here is not just one isolated incident,” Chang said. “There are bank runs throughout China and there are also restrictions on deposit withdrawals throughout China. That points to the larger problem of banks and other financial institutions running out of liquidity. My best guess is the total country debt approximates 350% of gross domestic product.”

“Beijing can defer a reckoning, it can do that for months, maybe even do it for years. But the amount of debt is too large for Beijing to deal with,” Chang said.

The International Monetary Fund reported that China had around 50% debt-to-GDP in 2021, while Japan has the most debt-to-GDP of any country, holding around 263% in 2022.

China’s real estate market disaster has significantly contributed to its looming debt crisis, which is the ultimate cause of the nation’s widespread bank runs, Jennifer Zeng, a human rights activist and the host of the YouTube show “Inconvenient Truths,” told the DCNF.

“The collapse of the real estate market will bring double problems for the banks. Both the developers and home buyers will have problems paying back the loans or mortgages,” said Zeng. “That’s why the banks are having problems with their...

Not only are boosters ineffective, but the excess mortality currently running in New Zealand points to a serious health deficit among the vaccinated, and Prime Minister Jacinda Ardern is fully aware of this.

Leading New Zealand epidemiologist Professor Michael Baker, in an interview with the NZ Herald, says that we are “losing the arms race with the virus”. Covid cases have increased by 50% within the last 9 days in an “abrupt rise”. Baker said “It’s a dynamic, a battle between us and the virus and there are factors mainly favouring the virus”. The article reported hospitals were overwhelmed.

NZ data shows that Covid cases and hospitalisations are decreasing among the unvaccinated, but increasing among the vaccinated, but incredibly, Baker called for new mRNA vaccines to be rolled out urgently. Notably, Baker used terminology usually associated with wartime.

Inexplicably excess all-cause mortality has not affected pandemic policy

In contrast, Professor John Gibson, economist at Waikato University, has published a paper showing that not only are boosters ineffective, but the excess mortality currently running in New Zealand points to a serious health deficit among the vaccinated. Similar rises have been measured around the world, often affecting the young and working age. So why is this kind of analysis not turning heads?

New Zealand is among the most highly vaccinated nations in the world. As the published scientific data and analysis seems to be offering some very clear negative health conclusions about mRNA vaccination, why are we still lacking a rational resolution, and simply calling for more vaccination? It is a very personal concern for all of us to puzzle out how this came about.

Many of you write to me with your own analysis and also send links to other writers and researchers. Some people are focusing on the role of the World Economic Forum and the great reset, others on the profit motive of pharmaceutical companies. There is a very wide range of political, scientific, social, medical, and religious perspectives among commentators and correspondents. Some people perceive sinister and alarming objectives at work.

Out of all this, there are obvious priorities:

What will help us to make sense of what is happening?
What understanding will make a difference to the final outcome?
How can I reopen the rational mind of others?

Biotechnology intervention has a history of mistakes

Whatever forces are at work driving current events, there is a history of mistakes and trends that needs to be considered. The biotechnology era began with the discovery of DNA in the early fifties, over 70 years ago. The huge risks of genetic editing should have been apparent from the start, but the promise of a new kind of super medicine gradually overhauled and has now overwhelmed caution.

Is this sufficient to explain what is going on today? No. The predominant irrationality of our current situation cannot be solely explained by belief or investment in biotechnology. Certainly, as we have argued, biotechnology experimentation should be paused, this is a vital part of a potential solution. People also need to understand how we came to where we are today.

The current crisis involves many players with different motivations and understandings, but what binds them all together into the cohesive structure of pandemic policy and compulsory global medical uniformity? Why is this occurring in the face of the obvious ineffectiveness and irreversible dangers of the new biotech medicine?

Biotechnology warfare

The answer may lie with history. When global warfare breaks out, nations take sides and in many ways begin to leave commonsense behind. They form allegiances that ignore traditional boundaries. The predominant aim is global dominion. Thus Japan was not Hitler’s natural ally, but the politics of war dictated a marriage of convenience in the search for an expanded territory of influence.

Prior to the pandemic, for many years pressure had been building to adopt biotechnology, first in agriculture and food, and then in medicine, and certainly in weaponry. For the wannabe winners, the potential profits appeared huge. Food, medicine, and conflict are the global markets which flourish come rain or shine. The financial pressure was building up behind the...

Visage à trois #349

Three Videos For Your Viewing Pleasure:

Farmers' protests are spreading across Europe. The Italians, Dutch, Germans and Poles have joined the action

Three Additional Bonus Videos:

Quick Hits Of Wisdom, Knowledge And Snark #514

No Special Treatment for Brittney Griner

WNBA player Brittney Griner on Thursday pleaded guilty in a Russian courtroom to possessing less than a gram of cannabis oil in her luggage when she landed at a Moscow airport in February.

It's a sad story, but Griner is hardly the political prisoner that President Joe Biden and Vice President Kamala Harris have made her out to be. And under no circumstances should the Democratic Party's identity politics allow a black lesbian millionaire athlete who broke the law in a foreign country to receive preferential treatment—as she already is receiving—over genuinely innocent hostages long left to rot in foreign prisons. Even if one were to leave aside the fact, which we simply cannot, that Griner clamored for the removal of the national anthem from WNBA games.

So far, the administration is sending all the wrong signals, elevating Griner's case above that of actual political prisoners like Paul Whelan: A senior U.S. diplomat on Thursday hand-delivered a personal note from Biden to Griner, a move that followed a phone call from Biden and Harris to Griner's partner, Cherelle, in which Biden assured her that he is "working to secure Brittney's release as soon as possible, as well as the release of Paul Whelan and other U.S. nationals who are wrongfully detained or held hostage in Russia and around the world."

That may sound like inoffensive boilerplate, but equating Griner and Whelan is indecent. Whelan has been locked up since 2019 on trumped-up espionage charges. He insists he's innocent, and he was almost certainly framed by Russia's spy service.

Brittney Griner and Paul Whelan

Whatever one thinks of Russia's draconian drug laws, Griner has quite plausibly admitted her guilt, so it's unclear why Biden and Harris have made Griner's ordeal a higher priority than Whelan's. Now, his family wants to know why. His sister, Elizabeth Whelan, said this week she was "crushed" and that if the president wants to talk about securing Whelan's release, "he needs to be talking to the Whelans!"

Beyond that, Griner is not exactly an American patriot. She launched a campaign in the summer of 2020—in the wake of George Floyd's murder—to press the WNBA to stop playing the national anthem before games. "Yeah, we're here to play basketball. But basketball doesn't mean anything in a world where we can't just live," she told the Washington Post at the time. "We can't wake up and do whatever we want to do. Go for a run, go to the store to buy some candy, drive your car without the fear of being wrongfully pulled over." Maybe after her brush with Russian law enforcement, she'll realize conditions back stateside aren't as oppressive as she made them out to be.

In the meantime, Griner should not jump the line in any prisoner swap negotiated by the Biden administration. Russian media have reported that Moscow wants the notorious arms dealer Viktor Bout cut loose in exchange for Griner. His arms trafficking fueled some of the worst wars of the 21st century, from Africa to South...