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Did the Governor of China's central bank just DEFECT!?

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posted on Aug, 30 2010 @ 12:59 PM
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www.businessinsider.com...

This is huge, huge news. Rumor has it he has left the country after the central bank lost almost one half of a TRILLION dollars on US Treasuries.


Rumors have circulated in China that People’s Bank of China (PBC) Gov. Zhou Xiaochuan may have left the country. The rumors appear to have started following reports on Aug. 28 which cited Ming Pao, a Hong Kong-based news agency, saying that because of an approximately $430 billion loss on U.S. Treasury bonds, the Chinese government may punish some individuals within the PBC, including Zhou. Although Ming Pao on Aug. 30 published a report on its website indicating that the prior report was fabricated by a mainland news site that had attributed the false information to Ming Pao, rumors of Zhou’s defection have spread around China intensively, and Zhou’s name has been blocked from Internet search engines in China.




posted on Aug, 30 2010 @ 01:09 PM
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This is not exactly verified yet, but if true could have some sweeping ramifications.
I notice that the north korean leader KIM jong Il the first is also missing in china somewhere....could they be meeting for some reason...?



posted on Aug, 30 2010 @ 01:53 PM
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Ironic! And Obama to meet with both PM's from Israel and Palenstine on Wednesday.........09/01/2010.

[edit on 30-8-2010 by Speedforhire]



posted on Aug, 30 2010 @ 02:39 PM
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If this is true who is going to buy all of our treasury bonds at the next auction? I wonder if they are going to pressure the US for some kind of reimbursement? Hope that more news comes out on this because it's very interesting due to the timing.


[edit on 8/30/2010 by SpaDe_]


+6 more 
posted on Aug, 30 2010 @ 02:45 PM
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Im way to distracted by the cat eating the corn….lol



posted on Aug, 30 2010 @ 03:15 PM
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reply to post by SpaDe_
 


I heard that Japan had over-taken China as the main buyer now, and that the USA announced (this weekend?) that it will now buy it's own bonds!

Good thread by the way! V.interesting development.

Re: Chinese current affairs, I've also been following a few other visible signs of tensions, including this [link to article in telegraph.co.uk]:

Backlash over China curb on metal exports



China's draconian export curbs on rare earth minerals needed by the rest of the world for frontier technologies is escalating into a serious diplomatic and trade clash with the United States and other leading powers.





The last US mine shut 14 years ago, discouraged by tough US environmental rules. The US General Accounting Office said China now has a "dominant position" with market power. "Rebuilding a US rare earth supply chain may take up to 15 years," it said.

Washington is examining claims that China's curbs breach World Trade Organisation rules by giving preferential access to Chinese companies. The US Trade Representative is collecting data from US firms to assess the basis for a legal challenge. There are strong suspicions that Beijing's aim is to force foreign companies to locate technology plants in China.

Baotou Steel High Tech Co said in February that it was building storage space for 200,000 tonnes of rare earth oxides. The company has since been told to stockpile metals by party bosses in Inner Mongolia. China Daily reports that Baotou and Jiangxi Copper are aligning their policies and now "virtually control" the market.

China claims it will need a growing proportion of these metals for its own industries, but US and Japanese officials say privately that Beijing's methods are not in keeping with the WTO ethos. Japan has already drafted a "Strategy For Enhancing Stable Supplies of Rare Metals" and has been stockpiling.

Rare earth metals are sprinkled in iPads, BlackBerrys, plasma TVs, lasers, wind turbines, hybrid engines, and smart bombs. They cannot easily be replaced, if at all. Neodymium enhances magnets at high heat, and cerium is used in catalytic converters.

Rare earth ores are not in fact rare, merely scattered and costly to extract. There are ample reserves in the US, Australia, Canada, Russia, and Greenland. A number of explorers are reopening mines but will not produce significant amounts until mid-decade.


[edit: typo]

[edit on 30-8-2010 by curioustype]

[edit on 30-8-2010 by curioustype]



posted on Aug, 30 2010 @ 03:40 PM
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reply to post by leo123
 


Keep in mind his removing himself from China--if in fact that is what happened--is a smart thing to do if he failed in his job.

They shoot business and government officials in China if they don't produce the proper results. So we need not go with a main-stream conspiracy on this just yet. However, we would be wise to s study their methods of ascertaining guilt and apply such here. It would cheer the citizenry and probably produce wonders all across the whole of government and regulatory departments.



posted on Aug, 30 2010 @ 03:54 PM
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Originally posted by swine flue
Im way to distracted by the cat eating the corn….lol


i do agree that avatar is about the most distracting one i've ever seen on ats, thats good though dont take it down

i hope these two missings can be tracked down, if china is censoring the sittuation from their web that may be an indicator huh.



posted on Aug, 30 2010 @ 04:00 PM
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Originally posted by swine flue
Im way to distracted by the cat eating the corn….lol


THAT is the real conspiracy here.



posted on Aug, 30 2010 @ 05:17 PM
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reply to post by leo123
 


Since the guy was paid off to engage in the buying of US treasuries, it makes sense that he would flee when the fraud he helped create implodes.

I am of the belief that the Chinese government ACTIVELY AIDED HIS CRIME in an overt act of economic warfare.

The Chinese government knew what this guy was doing. They knew the bonds were worthless and would be defaulted on. But they engaged in this activity with the ultimate understanding that it would lead to the destruction of the US economy.

This is what militarists call "acceptable loss" doctrine.

The communists in the US government colluded with the Chinese central bank to keep the ruse going until all of the American industrial sector was wiped out.



posted on Aug, 30 2010 @ 05:24 PM
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reply to post by mnemeth1
 


Holy crap you could be right, maybe the U.S is being prepared by insider communists for a chinese takeover? This is big news and we should all follow it. Maybe the FED taking another large step into the treasury market has something to do with this?

I know for sure that in 2-7 years the U.S dollar will be worthless, probably won't take that long considering the level of spending and anti-business regulation coming out of Washington.\

If you can't leave the states and wanna ride this out i suggest buying gold, land and ammo. Things are gonna get rough.



posted on Aug, 30 2010 @ 05:25 PM
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didn't america do some thing like this to Russia?
to disables them.
china has been getting to big for america to ignore.
so america collapses there economy.

is that cat yours leo123?
I can not stop watching it.

[edit on 30-8-2010 by buddha]



posted on Aug, 30 2010 @ 07:03 PM
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Originally posted by Aliensun
They shoot business and government officials in China if they don't produce the proper results.


Maybe we should start adapting that idea in the U.S. and expand the idea to unelected bureaucrats.



posted on Aug, 30 2010 @ 07:16 PM
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reply to post by leo123
 




Intelius found him. He's not missing.


I see he made Time Magazine Person of the Year in 2009. Hard for somebody like that to be missing and people not notice.



posted on Aug, 30 2010 @ 08:42 PM
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Originally posted by buddha
is that cat yours leo123?
I can not stop watching it.
[edit on 30-8-2010 by buddha]


Actually, I hate cats and am allergic to them.



posted on Aug, 30 2010 @ 09:03 PM
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www.businessinsider.com...

Euro Shoots Straight Down, Anglo Irish Bank Set To Report Gigantic Loss

===

Welcome to the second wave.

This fall should be very interesting.



posted on Aug, 30 2010 @ 10:31 PM
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reply to post by leo123
 


Funny i made my previous thread on how the economic crisis impacted the anime and manga industry and thus yet the industry has the guts to blame the decline of manga sells and anime sells on the Scanlations.


So what is your take on it?



posted on Aug, 30 2010 @ 10:37 PM
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What's the big deal? Maybe I am just not understanding the importance of this?

Anyone want to explain this to an idiot?



posted on Aug, 30 2010 @ 10:37 PM
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My cat loves corn on the cob! (I think it's the butter!)

Two topics in one...nice!

The news about China is even more interesting. If I find anything to add to it,I will back!



posted on Aug, 30 2010 @ 11:35 PM
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Originally posted by Misoir
What's the big deal? Maybe I am just not understanding the importance of this?

Anyone want to explain this to an idiot?


Misoir:

You are not an idiot. The importance of this is that China is the last engine firing economically post 2007.

So, if they are equally corrupt and in the #ter as well, - well, do the math.



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