Who is telling the truth?
See news in Chinese for context — it sounded really ugly.
- Yahoo etc say “Alibaba Singles Day Sales (aka 11:11, Nov 11) Hit Record High $75 Billion”
Really? Check this out…
“Worst Nov 11 (China’s equivalent of “Prime Day/Black Friday”) in history: Jack Ma & buddies LOST $2 trillion in 2 days” finance.sina.com.cn/tech/2020-11-11/doc-iiznezxs1326859.shtml … Google for more (in Chinese of course). NB: Yahoo and Wall Street have a stake in Alibaba?
Google using Chinese characters 马云 = Jack Ma = Mǎ Yún (马云)
Keypoint: Authority deliberately imposed many restrictions on labeling and what can be sold on Alibaba’s Taobao on Nov 11… To understand this strategy, read “China tightens restrictions on Australian exports” apnews.com/article/virus-outbreak-beijing-global-trade-australia-south-china-sea-ea95bc519eb9bf40172edc626caf5537 … same thing.
- You must have heard of “China drafts new antitrust guideline to rein in tech giants” by now. What’s the big deal? US and the west did the same thing, nothing happened.
Well, you must have forgotten conviction rate in China is literally 99.99%. That’s the difference.
- Ant Financials IPO – The politics behind the suspension isn’t something Joe can understand.
First, the timing – why IPO suspended on the eve of the debut? This is directly due to the 5th China Communist Party plenum that ended just before Jack Ma & co were told their $3 trillion Ant Financials IPO has been suspended.
Clue: No heir apparent as Xi Jinping reveals top leadership.
Still wondering what’s happening? Here > The Boss wanna make sure all parties are obsessed with the world’s largest IPO, happy, and create no trouble during the party plenum, which is the “Bilderberg” of China that may give birth to China’s new leader (against Xi Jinping who wanna rule forever)
Second, non-bank money-lending is considered loan-sharking no matter how hard you try masqurade the sin as “fintech” — no different from trying to bypass the Fed with any other form of money (just google what happened to those who tried…). This is not to say China is shutting down Ant Financials becos Jack Ma created a new cryptocurrency, it’s becos Ant’s microlending is seen as a timebomb for CCP.
How so? Google keywords like “China P2P Lending Suicide Scandal”, you’d see why did China cracked down the so called hitech “P2P Lending” industry that left behind nothing good except social ills like suicides, bankruptcies, etc (many still listed as pennystocks on NASDAQ like KXIN, WEI, etc. — all were given 2 years to wind down and do something else)… Ant Financials is no difference for CCP believes Jack Ma & co. will leave behind the same mess so big that it may collapse the CCP.
Plus, big-mouthed Jack Ma actually told this guy en.wikipedia.org/wiki/Wang_Qishan that China regulators are dinosaur that neither understand nor capable of regulating “fintech”.
tl;dr: Jack Ma is history — He has been personally targeted to send out a clear message: “Who’s The Boss” (just like why Trump fired Esper the other day). “Xi Jinping going after Jack Ma’s head” www.soundofhope.org/post/439876
What do you make up of the situation?
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.