It could happen here under Biden

Crossville TN

Description

Three banks in China's central Henan province have frozen at least $178 million of deposits, offering scant information on why or for how long, leaving firms unable to pay workers and individuals locked out of savings, depositors told Reuters. Chinese authorities will start refunding bank customers whose accounts have been frozen for months, following some of the biggest protests the country has seen since the start of the pandemic. Customers from four rural banks in the central province of Henan, and one in neighboring Anhui province, will be repaid by authorities starting Friday, according to statements late Monday by the provincial financial regulators. The first payments will be sent to customers with a combined amount of less than 50,000 yuan ($7,445) on deposit at a single bank, they said. Separate arrangements will be announced in due course for customers with more than that in their accounts, the authorities added. We are global society, and they are not paying their offshore bonds to us since 2021. Just like the pandemic, China will bring us down too.