I have been watching financial markets for a few months now. There was quite the learning curve to catch up with what’s been going on. My primary focus has been on the real estate company Evergrande.
The super short TLDR: The CCP has instituted new rules for financial companies that set three primary rules with regards to company finances. Evergrande immediately was in violation of these rules, specifically one that stated that they could not finance their projects by pre-selling their inventory (read: homes, apartments, other real estate). They has to finance them through traditional funding, such as commercial loans. Since they are in violation, they can not further extend themselves financially. A company that runs a deficit and cannot borrow, will default on their debt and become insolvent.
So naturally I’m now looking for new information, as this is part of my investment strategy. I came across this article.
It seemed like a pretty informative article. The news source is called Radio Free Asia. This struck me as odd, because if this is a new source based out of Asia and it’s speaking truth about what is going on in China, why is the CCP allowing that? So I started digging.
This article was written for i-Cable news, a Cantonese cable news channel in Hong Kong. Ok, nothing too surprising there, but when everything seems to be an obfuscation nowadays, I kept looking.
RFA is the news source here, and it was an article written by someone else. Ok, so who runs RFA? It turns out that RFA is a US government funded 501c3. It is funded and supervised by the US Agency for Global Media. (sourced from wikipedia)
Stephen Yates took over as head of the US Agency for Global Media on December 23rd of last year. He was also a former assistant to VP Dick Cheney. Upon his arrival to the USAGM, Stephen Yates fired the heads of the following organizations: RFA, RFE/RL, OCB and MBN. The head of VOA News also resigned at that point in time.
At first I was a little taken aback to find this out, so I started thinking about how RT was Russian state controlled media. I have seen things on RT in the past, that I can now clearly see as Russian propaganda. Obviously I was a little startled to find such a glaring example of the US doing this overseas. How would we feel if the Chinese were doing this to us? Who’s to say that’s not already happening?
Could use some more eyes on this. Perhaps there is more than what I’m seeing.