China Deploys Tanks to Secure Banks after Personal Savings Accounts declared “Investment Products” of the State
The economy in China isn’t going as well as the Chinese Communist Party would like the world to believe- and a curious sight outside of select financial institutions in the country is proof.
Tanks from the People’s Liberation Army were filmed staging around the Henan Bank of China building as crowds began to form, a security measure that for some no doubt conjures memories of the 1989 Tiananmen Square Massacre.
The move came after the Bank of China declared that the people’s savings in their branch are now “investment products” and can’t be withdrawn.
According to India.com, protests demanding the release of frozen funds began taking place after the declaration, prompting the PLA to step in.
Video of the event was featured on a tweet by WallStreetSilver.
While BoC has claimed that depositors in China’s Henan villages will get their frozen money back in batches with the first due on July 15, only a handful of depositors are reported to have received the payments.
Chinese state media has also not posted anything about the repayment.
In addition to armor assets, men in white clothes -believed to be part of the “Wu Jing,” or People’s Armed Police- were seen suppressing the protests.
Source: warisboring.com