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Peter Myers Responds to "Chinese Debt Trap Is a Myth"
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Peter Myers is one of many Australians concerned about Chinese financial encroachment, or “debt trap imperialism.” But are Chinese lenders really as predatory as Western economic hit men? Even the Atlantic now tells us that the “Chinese debt trap”—at least the Sri Lanka version—is a myth. We’ll also discuss other subjects taken up in Peter’s email digest. To subscribe, contact him at myerspeterg(at)mail.com.

(Republished from Truth Jihad by permission of author or representative)
 
• Category: Economics, Foreign Policy • Tags: China, Debt 
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  1. Chinese ‘debt traps’ is, like most racist, Sinophobe, hate-mongering, both lie and the crudest projection. For really existing debt traps see the books by the economic hit-man, John Perkins and the economic predation against the poor world by the World Bank, IMF and private blood-suckers like Paul Singer et al.

    • Replies: @showmethereal
  2. gT says:

    Its bad enough that so many White males out there want to be female, but this business of so many White males out there wanting to be Chinese is truly appalling.

  3. A123 says:

    This is no way a defense of the IMF or World Bank. However, China shares their level of quality. No one knows what China has borrowed or lent. Guarantees between state banks and State Owned Enterprises are impenetrable.

    What we do know is that Chinese financial firms are profoundly insecure: (1)

    China is at the centre of the discovery of what may be one of the biggest gold counterfeiting scandal in recent history. According to a report in Zero Hedge, not only does it involve China, but it emerges from Wuhan.

    The 83 tons of purportedly pure gold stored in creditors’ coffers by Kingold as of June, backing the 16 billion yuan of loans, would be equivalent to 22 per cent of China’s annual gold production and 4.2 per cent of the state gold reserve as of 2019. In short, more than 4 per cent of China’s official gold reserves may be fake. And this assume that no other Chinese gold producers and jewelry makers are engaging in similar fraud, the report said.

    This fraud was copper bars that could have easily been detected by comparing Count vs. Weight. The obvious implication is that both bank and government officials were complicit in the fraud.

    Anyone who deals with China’s Banks is taking IMF sized risks with their financial future.

    PEACE 😇
    __________

    (1) Est. 2016 — https://m.economictimes.com/news/international/world-news/chinas-biggest-gold-fraud-4-of-its-reserves-may-be-fake-report/articleshow/76707339.cms

    https://www.sgtreport.com/2020/06/83-tons-of-fake-gold-bars-gold-market-rocked-by-massive-china-counterfeiting-scandal/

  4. Neuday says:

    For a very long time usury was forbidden across Christendom. The chink in the armor, no pun intended, developed when the local aristocracy wanted to wage war beyond their ability to pay for it. Enter the Jews, who have developed quite a taste for financing destruction. That the Chinese have learned the value of enslavement through debt should be of no surprise.

    If the West could return to the conviction of the evil of usury, of the understanding the charging interest is not an inherently productive activity but is actually parasitic and not neighborly the benefit would be incalculable. When I was a kid it was common to put things “on lay-away”, making payments and not taking delivery of an item until payment had been fulfilled. Debt was only for mortgages and people saved up for years to buy a new car, driving a cheap used car until then.

    Debt is an evil trap, for kings, governments, and people. Deport the moneylenders.

    • Agree: Kevin Barrett
  5. @A123

    Dear me-you Zionazis do fear and hate China, a civilizational that Jews will NEVER control. If this story is true, a few grifters are going to get their comeuppance. In China crooks are punished-in the USA they run the country.

    • Replies: @A123
  6. kratic says:
    @A123

    Hello 123 how are you? How are the little Talmudists doing? You are still using the PEACE B.S Despite my repeated request to choose some honest slogan. For instance, I saw a poster in the Museum of Religion in St. Petersburg where they have some pictures of men of different religions.
    I would strongly recommend you put the picture or Icon representing a Jew with famous nose and one eye on the forehead. That would be more suitable to replace the FAKE PEACE.

    I am still waiting your answer for my questions. Now you started a new hiding place discussions on China. What is this all about. OH. BTW what do you think this from Talmud. Is it really in Talmud or Anti Semite?
    Yebamoth 63a. States that Adam had sexual intercourse with all the animals in the Garden of Eden

    I love Zionists prayer of Atonement or Yum Kapoor.
    Because of this I am tempted to convert to one of the tribe.
    Every wow and bond, Every oath, every promise, every promise, Every obligation or every renunciation between ourselves and God which w have wowed which we have sworn which we have promised taken upon ourselves from the preceding day of Atonement unto this day of Atonement All such oaths all such wows all such promises or renunciations are as if they were not. They shall not be binding nor shall they have any power beautifully done

    • Agree: Mulga Mumblebrain
  7. A123 says:
    @Mulga Mumblebrain

    Added to BLOCKED COMMENTERS list for degeneracy and racism.

    Also KRATIC.

    PEACE 😇

    • Replies: @Mulga Mumblebrain
  8. kratic says:

    Dearest 123
    How does it feel to be in the other shoe. I am racist? what happened to old proven weapon Anti Semite?

    You thought the little Israeli girl nailing the Gorilla on a cross and calling him Jesus to be funny. I thought it was offensive to Muslims and Christians alike.

    Today’s Talmud lesson
    Menahoth 43b-44a. A Jewish man is obligated to say the following prayer every day: Thank you God for not making me a gentile, a woman or a slave.

    Here is to you. Fake PEACE AND MORE FAKE PEACE


  9. @A123

    What the Chinese need to do is to point 100 nukes at Israel in the event of a nuclear war.

    This might save the future of human kind.

  10. @A123

    Thanks-associating with Zionazi racists is quite demeaning.

  11. @Mulga Mumblebrain

    They are essentially patronizing the global south with their claims of “debt trap” as if “those people” don’t know what they are doing. Many governments have come out and said point blank they prefer Chinese loans to IMF or World Bank because China doesn’t try to force their own policies on them.

    • Replies: @Mulga Mumblebrain
  12. @A123

    Gold Fraud:
    I notice that the report in the SCMP is datelined “Peggy Sito
    Published: 4:35pm, 30 Jun, 2020”
    I follow the news fairly closely, so I am astonished that I am hearing about it only now. What has happened to the perps, (assuming that the story has some basis in fact)?

    • Replies: @A123
  13. @showmethereal

    And China often forgives debts or re-negotiates them when lenders get into trouble. In the West bloodsuckers like Paul Singer go after countries like Argentina ruthlessly, slavering for every pound of flesh he can cleave from poor Argentines’ bodies.

  14. A123 says:
    @foolisholdman

    The head of Kingold was a CCP Elite insider. (1)

    Kingold is reportedly led by Jia Zhihong, an ex-PLA who is known for using his military and CCP links for bypassing regulations and proper audits. He is denying any responsibility for pulling off the biggest gold scandal known to the human race.

    Jia had served in the Chinese military in Wuhan and Guangzhou. The veteran had also managed gold mines for the People’s Liberation Army. Kingold itself had started off as a gold factory in Wuhan and was affiliated to the People’s Bank of China.

    Later, it would go on to become the biggest privately owned gold processing company in China. Of course, now we know that it was hardly a private entity. Murmurs are such that Jia’s links with the PLA and CCP meant that he could do what he wanted. There was no one to question him or his decisions.

    For someone this connected, prosecution is unlikely.

    PEACE 😇
    __________

    (1) https://tfipost.com/2020/07/chinese-pla-veteran-with-ccp-links-pulls-off-the-biggest-gold-scam-in-history-of-china/

    • Replies: @Mulga Mumblebrain
  15. @A123

    TFI Press is one of those sad Indian fascistic web-sites where Hindutva delinquents screech their impotent rage that China has grown to become the world’s greatest economy, whereas poor old India, always seeking to grovel to the White Master, sinks ever deeper into the mire. The lies are really quite puerile, plainly appealing to the lowest of lowest common denominators. A true pity, as India and China working together could transform the world for the better.

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