$6 billion of savings deposits just disappeared, leaving more than 400,000 depositors of six rural banks in central China’s Henan province devastated.
The journey to get to the bottom of how such a large sum of money disappeared started to unravel a series of systemic financial corruption.
Allegations of crime and corruption are spreading through China’s small banks as more depositors are being locked out from their life savings. And it appears the CCP is making the situation worse.
Hundreds of people took to the streets of Zhengzhou to protest their inability to withdraw money from four local banks since April! Similarly, citizens are accusing their local officials of widespread corruption and mismanagement. It’s getting ugly…
The demonstrations turned violent when a group of unidentified men in white shirts attacked the peaceful demonstrators.
Chinese authorities appear to be pinning blame for the banking issues on a group of “criminals” in charge of the local banks. But the issue runs much, much deeper. Watch the video for the full story. This is far from over…
Experts are likening the situation to be worse than the US 2008 financial crash and warn of it’s global impact.