China has tanks protecting banks from citizens withdrawing money

Tiananman Square sequel just dropped.

Pictured above: China deploys tanks in Shandong Province to prevent customers from reaching banks.



Boy, China sure is a totalitarian state. That could never happen here. We just need to keep letting our rights be eroded and give up any ability to fight back. Our government here is trustworthy and would never do something like this.

/sarcasm

In a stunning display of gross abuses of power, China’s authorities have rolled out tanks in an effort to prevent bank depositors from withdrawing their funds. I guess locking the doors wasn’t enough. Reportedly, China’s top bank told people that they couldn’t withdraw their savings as those savings are “investment products”. Fascinating.

This comes on the heels of previous bank runs in the Henan province back in April induced by bank officials preventing people from withdrawing money from their accounts. Reportedly back then it was due to some kind of system update that caused the temporary blip in services.

What I find interesting about the timing in April is the fact that Bitcoin hit a particular snag and lost 23.3% of its value from April to May. And here I thought they banned crypto. Wouldn’t it be hilarious if we found out China’s central bank had their crypto holdings liquidated and they passed the losses onto normal bank depositors? Way overleveraged, I guess.

I don’t mean to make light of the suffering of the Chinese people, but that bit of irony would have me in tears. I’m just speculating, though. It’s also well-documented that banks invest capital they receive from their consumers. It would just be funny in a dark way that they could’ve YOLO’d the savings of millions of people away on crypto plays.

Officials in the Shandong province saw fit to literally break out the big guns to fight against depositors looking to withdraw their savings. This could very well be the only money these people have, and to not be able to secure their funds, it could result in chaos and crippling poverty while their corrupt government washes their hands of the situation.

And in the broader image of global unrest in the wake of government overreach in response to covid, this is just one more ember that threatens to spark revolution around the world. To recap, farmers in The Netherlands, Germany, Italy, Spain and Poland are all protesting in solidarity over emissions regulations being imposed on Dutch farmers. Add to that Sri Lanka’s current upending of their entire government, and you have many embers going at once. This can’t end well. It’s encouraging to see that people, when pushed far enough, are capable and perfectly willing to push back.

People are sick and tired of getting kicked around and having every aspect of their lives regulated into the ground. We here in the United States still have a position that affords us the ability to resist such overreach, but as the assault on the 2nd amendment continues it’s looking like our days are numbered on that front. Tenuous incrementalism to erode 2nd amendment rights continues to be the play by the tyrants in Washington D.C. and in state capitals around the country, with few exceptions.

It’s citizens versus the elites of their respective nations. I like our chances in a straight up fight but the few at the top maintain control through subversion and division. Not to mention keeping people just fat and happy enough that they don’t want to jeopardize their current lives for something better in the long run. Promising stability in exchange for loyalty to a paycheck and the payors themselves. It’s devious beyond measure, but there comes a time when you gotta suck it up and rip off the band-aid. Is that time approaching? Wait and see.