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As Hong Kong ATMs Run Out Of Cash, Central Bank Steps In To Prevent “Panic Among The Public”

October 6, 2019

As Hong Kong ATMs Run Out Of Cash, Central Bank Steps In To Prevent “Panic Among The Public”

As the violence in Hong Kong escalates with every passing week, culminating on Friday with what was effectively the passage of martial law when the local government banned the wearing of masks at public assemblies, a colonial-era law that is meant to give the authorities a green light to finally crack down on protesters at will, one aspect of Hong Kong life seemed to be surprisingly stable: no, not the local economy, as HK retail sales just suffered their biggest drop on record as the continuing violent protests halt most if not all commerce:

We are talking about the local banks, which have been remarkably resilient in the face of the continued mass protests and the ever rising threat of violent Chinese retaliation which could destroy Hong Kong’s status as the financial capital of the Pacific Rim in a heart beat, and crush the local banking system. In short: despite the perfect conditions for a bank run, the locals continued to behave as if they had not a care in the world.

Only that is now changing, because one day after a junior JPMorgan banker was beaten in broad daylight by the protest mob, a SCMP report confirms that the social upheaval has finally spilled over into the financial world: according to the HK publication, the local central bank, the Hong Kong Monetary Authority, was forced to issue a statement warning against a “malicious attempt to cause panic among the public” after rumors were spread online about the possibility of the government using emergency powers to impose foreign-exchange controls.

 …click on the above link to read the rest of the article…

The New Wave of Violent Protests is Exactly What The Elite Want — Here’s Why

February 21, 2017

The New Wave of Violent Protests is Exactly What The Elite Want — Here’s Why

Over the past 18 months, there has been a significant increase in the frequency and severity of riots conducted by the extreme left.  Their ranks are comprised of self-described anti-fascists,  anarcho-communists, radical 3rd wave feminists, Black Lives Matter (BLM), and other social justice warriors (SJWs).  They have attained great notoriety through their willingness to employ violence/intimidation, vandalize/loot private property, and engage in the very same behavior they accuse their ideological opponents of perpetrating.  Tragically, innocent and non-interested bystanders often get caught in the cross hairs whilst they throw their violent temper tantrums.  To add further cause for concern, these otherwise marginal groups are coalescing under the banner of “intersectionality” thereby effecting a swelling of their ranks, temerity, and menace.

However, there is cause for hope as Professor Matthew Feinberg of the University of Toronto recently published a study confirming “extreme protest tactics reduce popular support for social movements.” Violent and destructive protests render peaceful protestors inept and guilty by association.

The following summarizes the results of the study in greater detail:

“Social movements are critical agents of change that vary greatly in both tactics and popular support. Prior work shows that extreme protest tactics – actions that are highly counter-normative, disruptive, or harmful to others, including inflammatory rhetoric, blocking traffic, and damaging property – are effective for gaining publicity. However, we find across three experiments that extreme protest tactics decreased popular support for a given cause because they reduced feelings of identification with the movement. Though this effect obtained in tests of popular responses to extreme tactics used by animal rights, Black Lives Matter, and anti-Trump protests (Studies 1-3), we found that self-identified political activists were willing to use extreme tactics because they believed them to be effective for recruiting popular support (Studies 4a & 4b).

…click on the above link to read the rest of the article…

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