China deploys tanks to prevent people from withdrawing savings from troubled banks
08/01/2022 / By Arsenio Toledo
The Chinese Communist Party (CCP) has ordered the deployment of tanks in the central province of Henan to prevent people from withdrawing their money from the Bank of China, which wants to turn the savings of depositors into “investment products.”
Henan’s Bank of China branches collaborated with the CCP to prevent depositors from withdrawing their savings since April, leading to massive ongoing protests.
On July 21, videos started popping up online of tanks bearing the logos of the People’s Liberation Army, China’s armed forces, rolling through the streets of Henan’s cities. According to reports, the tanks were there to protect Bank of China branches in the province, scare off protesters and prevent locals from reaching the banks to make withdrawals.
“The Bank of China told their depositors that their savings accounts are now investment products and can no longer be withdrawn,” commented Greg Reese of InfoWars. “To stop the people from trying to withdraw their money, the CCP deployed tanks.”
Reese noted that this incident serves as proof of how Big Banks all over the world are just too powerful to the point that they could enslave humanity. (Related: Central banks are willing to destroy the global economy if it means saving the stock market.)
CCP blames incident on “criminal gang” that took over rural banks
Following the massive national backlash, central CCP authorities reacted by distancing themselves from the scandal in Henan and calling it a scheme conducted by “a criminal gang.”
The ringleaders of this alleged gang apparently used their positions in a private investment company to take control of the five rural banks that participated in the asset freeze through “cross-shareholding, increasing capital and shares and manipulating bank executives.”
The CCP then promised the depositors in Henan that they will get their money back in batches, with the first tranche released on July 15 for deposits below 50,000 yuan ($7,413). The second tranche is set to be released on Aug. 1 for clients with deposits of between 100,000 to 150,000 yuan ($14,827 to $22,241).
The China Banking and Insurance Regulatory Commission (CBIRC) also said it was opening investigations on two provincial officials – one from CBIRC’s Henan office and another from CBIRC’s sub-office in the city of Kaifeng in the same province – due to potentially participating in or otherwise aiding the scheme.
The Central Commission for Discipline Inspection, an internal control institution for the communist party, is also opening an investigation into a provincial party member who was tasked with overseeing financial stability at the Bank of China’s branch in the provincial capital of Zhengzhou for unspecified “serious disciplinary violations.”