Federal Reserve Clears Communist China For First Takover Of US Bank

Federal Reserve Clears Communist China For First Takover Of US Bank

The federal reserves has approved the first take over of a US bank by China while approving 3 communist state-owned Chinese banks to enter the US market.

The Chinese Takeover Of America Begins

The Chinese Takeover Of America Begins

It is a slap in the face to the hundreds of thousands of US soldiers who fought bravely in Vietnam and Korea proxy wars against the communist red army?

The Federal reserve has clearly three communist state controlled Chinese banks to enter the US market place and giving the insatiable appetite of the world’s largest sleeping giant waking from a mufti-millennial hibernation this is just a harbinger of things to come.

Let’s be clear, the US government conducts not-so-secret operations to overthrow the Chinese government and install a democracy.

Washington trades ever increasingly hostile rhetoric with Beijing it now appears worries about intellectual property theft, tens of thousands of Chinese spies secretly in the United States, faulty military chips containing secret Chinese kill switches and whatever other flavor is chosen for the soup-de-jour.

Are we now supposed to believe that these were all nothing more than with are nothing more than fear-mongering scare tactics to exert additional control over the public?

Endless rants about Iran and China having capabilities to conduct doomsday cyber attacks so we need CISPA.

We need online anti-piracy legislation to stop the Chinese from blah.. blah… blah… Human Rights violations… blah… blah… currency manipulation… blah… blah…

Whether there was a threat to dump our debt and destroy our economy if we don’t comply to they simply paid off certain ‘persons of influence’… Welcome to America! See that bank over there, that one is yours.

When you live in a nation where our politicians are bought and sold in the open like stocks on Wall Street and live in a nation where government censorship protects us from reality what else do you expect?

From The Associated Press, via Yahoo News Canada!

Fed clears China’s first US bank takeover

The United States on Wednesday opened its banking market to ICBC, China’s biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company.

Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East Asia.

The transaction will make ICBC the first Chinese state-controlled bank to acquire retail bank branches in the United States.

ICBC has been the most aggressive of China’s “big four” banks in expanding overseas.

According to the Fed the bank has total assets of roughly $2.5 trillion.

It will buy up to 80 percent of the US unit of the Hong Kong-based Bank of East Asia, which operates 13 branches in New York and California.

As part of the deal ICBC and two state-backed financial firms — China’s sovereign wealth fund the China Investment Corporation (CIC), and Central Huijin Investment — will be recognized as bank holding companies, regulated as commercial US banks.


Source: Yahoo News! Canada

Categories: ECONOMY

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