Miles Kwok may or may not be a dishonest man. Even his name is a pseudonym. His real name
is Gui Wengui He is a Chinese
billionaire on the run from the long arm of the goons of the Communist Party of
China. His assets in China have been frozen and he is seeking political asylum
in America.
His problem is not only his money. His problem is he knows
the nasty secrets of the men at the top of the People’s Republic of China.
That makes him a man marked for death.
He lives under tight security in an exclusive address in New
York when he is not flitting between Canada, the United Arab Emirates, and
elsewhere.
He is today a man on a mission. To expose the corrupt leaders
of China and bring about their fall from power. He has on his side details of
their grand theft and nepotism as they suppress their people and protect their
own wealth.
It is difficult to believe some of the jaw-dropping stories
he tells about the men at the very top of the Chinese elite. His stories stand
in stark contrast to the image of a harsh leadership tied to the intolerant
ideology of an authoritarian Communism.
For example, Miles Kwok tells us that Chinese Vice President,
Wang Qishan, the man who dictates to his people what they may or may not do,
even to the point of ordering them how many children they may have, is a
philanderer who has had many wives, many illegitimate children, and even more
mistresses, including a beautiful singer and actress who also acts as his money-launderer
making a 20% commission on every trade she does on behalf of the powerful.
Kwok quotes one such deal as being a dizzying $12 Billion
deposit. Given the size of the Chinese population that was a theft that equates
to stealing almost $10 from every man, woman, and child in China in the year
2016 when it happened.
Miles Kwok is a man on a mission. For him, it’s either him or
them. One of them has to fall first, and he needs for the Chinese elite to be
brought down before they get to him.
It begins and ends by understanding the unique structure of
the Chinese economy.
As Miles Kwok explains, it will collapse of its own volition
after the leaders have destroyed the props that keep their shaky paradise in
place. Then, Guo Wengui hopes, the people will rise up in their masses against
the corruption.
The basic elements for a massive fall are already in place
and observers see how the regime is scrambling to stop the cracks in the dam
that will inevitably destroy them.
One needs to understand the Chinese economy according to Gui
Wengui who has intimate knowledge of the system, having made his fortune from
it.
China has two economies. An internal economy based on the
renminbi (RNB, commonly known as the yuan, the official Chinese currency.) The RNB is also one of the world’s major
reserve currencies.
It also has another economy based on the US dollar. This is
for all business and financial transactions conducted outside of mainland
China.
China went from being an 11 Billion RMB economy to a $30 Trillion
foreign currency economy based on a local economy of only 12 Trillion RNB.
How does a country grow from eleven billion to twelve
trillion in local currency? They did it by printing money to keep their people
happy.
China printed more money internally than any other country in
the history of the world as a percentage of GDP.
It is not possible to sustain such a false economy without
sucking in foreign currency on a massive scale but the Chinese elite cannot do
that. It is in their private accounts outside of China, leaving the Chinese
banking system at currently 400% of GDP.
According to Miles Kwok, fully 45% of all loans in China may
be bad. That is the basis of an unsound economy. In any economy, if 45% of your loans are bad
and your banks are four times your GDP you are insolvent. It is a recipe for
disaster.
Kwok claims the major Chinese banks at risk of failure are
the Bank of China, followed by the Minsheng Bank, and then the China
Development Bank which, according to Kwok, is the main foreign currency
money-laundering bank for the Chinese rich and powerful.
As Gui Wengui says, these banks work with the Chinese
leadership who have been enriching themselves in billions on the backs of the
Chinese people.
Since the Chinese Communist Party elite run the banks they
can do whatever they want. They will keep their ties to the outside world open
for business. They need the foreign currency. But, inevitably, they are forced
to grab assets of successful Chinese entrepreneurs and eventually must suppress
the economic future of their people.
As Miles Kwok told Kyle Bass on a Real Vision Finance interview in late 2018, the Chinese leadership
stay extraordinarily wealthy by massive money-laundering of foreign currency as
they try to find new ways to keep the economic wheel turning.
Miles Kwok asks why is China’s little Hong Kong colony pegged
to the US dollar if China’s economy is so great? It’s because, he says, Bank of China HK handles it. It launders money for the leadership
in Beijing who keep this money away from their population. Why does BGHK have
two thousand workers, he asks. China has
to assert its control over Hong Kong to control the dollar trade that the
leadership desperately needs.
When the lovely Fan Bingbing protested in the Chinese media
about the Gui Wengui’s accusation about her affairs with the elderly Vice
President and her role as a money proxy, she was promptly arrested by her
powerful patron, only to emerge as a chastened and silent co-conspirator.
Others have been less fortunate, says Wengui.
Meng Hongwei was an influential politician who got too
greedy. He also became head of Interpol during 2016-2018. This position didn’t
stop him from going missing when he and his wife fled to France. He was accused
of owing the authorities over two million dollars in bribe money. Rumor has it
that he volunteered to return to China where he went missing. Miles Kwok said
he was killed in the south of France by Qishan’s men.
Hongwei’s wife, Grace, said she does not believe the
accusations against her husband, but that his disappearance was a political hit
job.
“Everybody in China is at
risk,” she said. “Everyone should be concerned that something
like this could happen to them. The term anti-corruption in China has become a
synonym for crimes that are unjustifiable.”
Grace Meng refuses to meet
unaccompanied with Chinese officials. She says that she finds them impossible
to trust them, calling them “cruel.”
She and her children are
living under police protection in the French town of Lyon.
Miles Kwok rightly ask how
could the head of Interpol suddenly go missing in France? How did this man get
transported from France and flown to China without the knowledge of the French
police and authorities? What happened to his car? All unanswered questions.
Kwok believes he was killed by Chinese assassins sent by the Chinese Vice
President.
The question remains. How is
it possible that a corrupt member of the Chinese Politburo can reach the rank
of head of Interpol, the international criminal police organization?
Another rich Chinaman was
killed in France. They claim he died after falling
of a wall on June 6, 2018.
Wang Jian was a billionaire.
He was the chairman of the HNA Group. According to a report he fell of a high
wall in Bonnieux in the Provence region.
The French newspaper,
Liberation, claimed he committed suicide because of business worries.
The story of HNA is
instructive. The Group, according to Miles Kwok, was one of the companies of
the Chinese top level elite. They bought and borrowed their way into becoming
one of China’s most prominent conglomerates. They bought blue-chip Manhattan
real estate, a computer distributor, a hedge fund. It amassed about $86 Billion by the
end of 2016.
Jian’s company had over $230
Billion in assets.
The disappearance and deaths
of high-profile Chinese investors and businessman with large foreign currency
deposits are becoming common Chinese practice.
Steve Bannon said in a South China Post
article, “The situation with what I would call the best and the
brightest of China, they are either missing, suicide, dead, in prison or their
assets stripped.”
The paper claimed that
following the death of Jian and the accusations of Bannon and Miles Kwok, the
HNA Group attempted to sue Guo in a New York court for $300 million in damages
for accusing the company of engaging in corrupt activities and having secret
ties to the family of a high-ranking Communist Party official.
In November 2019, Miles Kwok
revealed a USB bank statement
stating that the sum of $1.5 Billion was transferred into the personal account
of Sun Yao.
Sun Yao happens to be the
daughter of China’s Vice President, Wang Qishan.
Kwok explains that transfers
such as these don’t stay in the account for long. They disappear into private
accounts in one of China’s foreign account banks.
And why did Jack Ma, the charismatic owner of Alibaba,
suddenly resign from his own company at the early age of 55, and why is that company
now being run by the Communist Party of China?
Jack Ma not only owned Alibaba. He has a private company
called Finance Group, a company that challenges the official CCP banks with trillions
of dollars.
When asked what is likely to happen to Jack Ma, Miles Kwok
made a prediction. “Chinese billionaires only have two futures. Jail or
die.”
China has a major currency deficit. They only have one option
to keep their people calm at home. Print more money.
But eventually, their economy will collapse, the people will
be sent back to poverty, and they will rise up in their millions against their
leaders.
Guo Wengui, nee Mile Kwok, in on a crusade to overturn the
ruling elite in China.
The question remains, who falls first.
The China Virus pandemic is making it harder for disreputable
Chinese companies to hide their corruption.
LK Coffee, once touted as a major rival to Starbucks, crashed
and burned on the New York Stock Exchange when it was discovered that they were
cooking the books to the tune of billions of yuan after Ernst & young
started asking questions.
In mid-April, Fitch Ratings downgraded Yunnan Metropolitan
Construction Group to BBB. Standard and Poor considers a rating of BBB to be
the lowest grade for a security to be considered investment worthy. It’s $800
Million bond due April 2022 is now only worth 75 cents to the dollar.
Michael Bloomberg, former NY mayor and Democratic
presidential candidate became a billionaire due to his close ties to the CCP
elite in China. When his Bloomberg News headlines an article “Coronavirus
Gives China Inc Cover to Behave Badly” (April 20) you can be sure that there
is trouble afoot in Beijing.
PS. The writer would like to offer the theory of another
potential pandemic crime that has been troubling him for some time.
Why would overseas Chinese real estate companies, such as The
Greenland Group, Risland Australia and others, search the globe buying national
reserves of medical equipment suited for a pandemic, including protective
masks, gloves and clothing, ventilators and respirators and virus testing kits,
only for the Chinese Government to sell them on to countries in desperate need
for profit?
The bulk purchases were done between the end of December and
the beginning of January when the Chinese said they had a localized problem
with no human-to-human transmission. The
supplies were warehoused by the government only to be resold in what looks like
a bait and switch operation for massive foreign currency profit a month or so
later.
This neatly fits into the theme of this article that the
driving principle of the regime leaders is the ongoing search for foreign
currency.
How did they go from mass purchases by private companies into
government to government resale by the regime? Was this planned in advance with
knowledge of the nature of the virus and its effect on the world if their
population was allowed to travel abroad?
It is unlikely that Western governments such as Australia,
Canada, the United States and in Europe will tell us how they got suckered into
emptying their national and state reserves. Certainly China will not cooperate.
But this should be the job of professional journalists and investigative
reporters.
There is after all the makings of a global scam here.
Despite the corrupt economic system of Communist China there
is no doubt that they have made a fortune in foreign currency as being the
major source of essential, even life-saving, equipment across the globe.
In the economic game of the Wuhan Virus, they have won and we
have lost. It is high time we recalibrated our priorities and stop propping up
the billionaires in China’s Politburo.
Barry Shaw, Israel Institute for Strategic Studies.