By Andrew P. Napolitano
The president's men trash the Constitution to pursue antagonists
Independent voices from the TWT Communities
The China Banking Regulatory Commission (CBRC) is an agency of the People's Republic of China (PRC) authorised by the State Council to regulate the banking sector of the PRC except the territories of Hong Kong and Macau, both of which are special administrative regions. In response to their swelling debt loads, undercapitalization and non-transparent business practices, the government of China recapitalized the banks and set up the CBRC as the country’s independent banking regulator in 2003. Liu Mingkang was appointed its first chairman and served until 2011, when he was replaced by Shang Fulin. - Source: Wikipedia
Mutual dependency can guarantee a certain amount of pragmatic behavior by both sides, but there should be no romantic illusions about how the Chinese communists feel about America. "We hate you guys," China Banking Regulatory Commission Director General Luo Ping fumed about the PRC being forced into buying U.S. Treasuries to protect Beijing's massive U.S. debt holdings. "Once you start issuing $1 trillion-$2 trillion ... we know the dollar is going to depreciate, so we hate you guys, but there is nothing much we can do."
