Connect with us

World News

Hong Kong Activist Leader Calls For a Run on the Bank

Chen Haotian asks citizens to withdraw cash deposits to target Chinese banks.

Published

on

Prominent Hong Kong pro-independence political activist Chen Haotian has called for a run on Chinese banks, asking that everyone withdraw their money on the same day.

Haotian is a founding member and the convenor of the Hong Kong National Party.

Arguing that large scale protests have only led to injuries and escalating police brutality, Haotian believes another method could be used to severely undermine China’s influence – a good old fashioned run on the bank.

He suggested that another method could be used, namely, impacting the financial system,” reports China Press.

“He called on Friday (August 16) that Hong Kong citizens take out all bank deposits. The primary goal is Chinese banks, but he said other banks should also be targeted, otherwise Chinese banks can borrow money from other banks to solve problems.”

Hong Kong has been rocked by weeks of violent protests by pro-independence campaigners. Earlier this week, riot police stormed Hong Kong International Airport to clear them out.

As we reported on Tuesday, while China is unlikely to invade using PLA troops, experts have suggested that soldiers could be disguised as Hong Kong police.

SUBSCRIBE on YouTube:

Follow on Twitter:

———————————————————————————————————————

There is a war on free speech. Without your support, my voice will be silenced.

Please sign up for the free newsletter here. Donate to me on SubscribeStar here.

Support my sponsor – Turbo Force – a supercharged boost of clean energy without the comedown.

———————————————————————————————————————

Continue Reading
Comments

World News

Protesters Beg Trump: “Please Liberate Hong Kong”

Demonstrators display banners asking for U.S. intervention.

Published

on

After flying American flags and waving Pepe banners, protesters in Hong Kong are now carrying signs asking President Donald Trump to “liberate” them.

The image shows protesters displaying signs that say ‘President Trump – Please Liberate Hong Kong – Defend Our Constitution’ and ‘President Trump Please Liberate Hong Kong!’

Demonstrators have been flying British flags and American flags for weeks, but their latest icon appears to be Pepe the frog, a meme associated with the far-right and more moderate Trump supporters.

Now they’re calling for Trump to directly intervene.

null

Trump has tried to stay neutral on the whole issue, asking that the crisis be de-escalated and that both sides come to an agreement without further violence.

While protesters assert that their demonstration against further encroachment on the region by Beijing is organic, China claims that the U.S. is covertly encouraging a color revolution.

As we previously reported, tens of thousands of China’s People’s Armed Police (PAP) troops are massing inside a sports stadium just a few kilometers away from Hong Kong.

SUBSCRIBE on YouTube:

Follow on Twitter:

———————————————————————————————————————

There is a war on free speech. Without your support, my voice will be silenced.

Please sign up for the free newsletter here. Donate to me on SubscribeStar here.

Support my sponsor – Turbo Force – a supercharged boost of clean energy without the comedown.

———————————————————————————————————————

Continue Reading

World News

Chinese Banks Activate Contingency Plans to Prepare For Hong Kong Bank Run

But say they have plenty of cash to deal with demand.

Published

on

Chinese banks have activated contingency plans to prepare for a possible bank run by protesters in Hong Kong but say they are confident they can deal with any problems.

As we reported yesterday, activist leader Chen Haotian called on fellow protesters to target Chinese banks by simultaneously withdrawing all their money.

A viral post also appeared on the Hong Kong version of Reddit encouraging demonstrators to withdraw their money and convert it to U.S. dollars in order to sabotage Beijing’s financial autonomy.

In response, Bank of East Asia, DBS, OCBC Wing Hang Bank, and Hang Seng Bank have all reportedly activated contingency plans and are monitoring large withdrawals.

However, the banks, seeking to avoid a panic, all assert that they can deal with any planned bank run, arguing that Chinese New Year season is much worse.

HSBC said it “has sufficient supply of banknotes” to deal with demand.

“I don’t think it will be a problem,” George Leung Siu-kay, an adviser to HSBC, told the South China Morning Post.

OCBC Wing Hang Bank also said that Friday was a “normal banking day” and that no problems were encountered.

Hong Kong residents are allowed to withdraw from HK$20,000 (US$2,548) to HK$40,000 from ATMs.

SUBSCRIBE on YouTube:

Follow on Twitter:

———————————————————————————————————————

There is a war on free speech. Without your support, my voice will be silenced.

Please sign up for the free newsletter here. Donate to me on SubscribeStar here.

Support my sponsor – Turbo Force – a supercharged boost of clean energy without the comedown.

———————————————————————————————————————

Continue Reading

World News

Analyst: Hong Kong Protests Will be Settled or “Crushed” Before October 1

Endgame drawing near.

Published

on

Strategist David Roche says the months long protests in Hong Kong will be settled or “crushed” before October 1, the 70th anniversary of China’s National Day.

Roche said the crisis was a huge issue for China’s economy because “any intervention (from Beijing) to Hong Kong will be immediately, umbilically, linked to what happens to trade talks and international relations globally.”

The analyst also predicted that the escalating crisis in Hong Kong would negatively impact trade talks between the U.S. and China, noting that Beijing was already irritated by the U.S. telling them “how to run their country.”

As we reported earlier this week, pro-independence political activist Chen Haotian called for a run on Chinese banks to take place today, encouraging Hong Kong citizens to withdraw all their money.

Tens of thousands of China’s People’s Armed Police (PAP) troops are also massing inside a sports center just a few kilometers away from Hong Kong.

Beijing asserts that the protests are part of a color revolution aimed at sabotaging Chinese influence over the territory, although protesters insist this is not the case.

SUBSCRIBE on YouTube:

Follow on Twitter:

———————————————————————————————————————

There is a war on free speech. Without your support, my voice will be silenced.

Please sign up for the free newsletter here. Donate to me on SubscribeStar here.

Support my sponsor – Turbo Force – a supercharged boost of clean energy without the comedown.

———————————————————————————————————————

Continue Reading

Trending