Trump Owes Millions to China—Wait, Is That True?

published on July 2, 2020

Trump owes millions to China wait is

that true and can a newspaper be racist

against Chinese people it was started by

Chinese people

[Music]

well back to America uncovered I'm Chris

Chappell

welcome to our new segment called wait

that true I was reading the news last

week when I saw this blockbuster

headline Trump owes tens of millions of

dollars to the Bank of China and the

loan is due soon it was so explosive the

media after media copied the politico

story with headlines like Trump is

personally indebted to China's state-run

Bank wow what a huge conflict of

interest for the president to owe money

to a Chinese state-run bank and then I

started thinking wait is that true how

come I haven't heard anything about this

before it turns out reliable media

aren't always reliable now to be clear

it's not my intention to take sides on

partisan issues I'm interested in

accuracy wait what's that Shelley okay

we're all interested in accuracy so

here's our first piece last Friday

Politico released that article claiming

US president Trump owes tens of millions

of dollars to the state-run Bank of

China the article implies that the

Chinese government has financial

leverage over Trump and the Trump is a

hypocrite for claiming that Biden would

be a gift to the communist country and

America's chief economic rival you see

the Trump Organization owned a 30

percent stake in a building in Manhattan

1290 Avenue of the Americas

back in 2012 Bank of China was part of a

group of banks that gave the building a

commercial Loan Bank of China's share

was more than 200 million dollars the

loan is due in 2020 to case closed right

it turns out no within a month after

Bank of China financed the loan they

repackage their loan as commercial

mortgage-backed securities and they

resold those on the securities market

this is a common thing that happens in

the financial industry what that means

is the Bank of China hasn't owned any

part of that law

since 2012 in fact this was even

reported accurately at the time in the

Wall Street Journal it was a big deal

because it was the first time that a

Chinese bank had been involved in this

kind of securitization deal so how did

Politico respond to their recent article

being not true they quietly changed the

article headline from Trump owes tens of

millions of dollars to the Bank of China

and the loan is due soon to the much

less newsworthy Trump owed tens of

millions to Bank of China not quite as

much of a gotcha moment and the biggest

problem is Politico quietly changed the

original article without issuing a

correction at first they didn't outright

fess up to the mistake until three days

later after a lot of public backlash

that's when they finally printed this

article saying hey my bad it turns out

that their main mistake was not asking

the Bank of China for a statement before

publishing the article whoops

I had loads of friends sharing the story

on social media about how the President

of the United States is in the pocket of

China the correction didn't make as much

of a splash that's crazy

especially since the Chinese Communist

Party is already trying to take

advantage of the insane hyper

partisanship to turn people in the us

against each other and to let China off

the hook for the corona virus outbreak

this is a recent article in my favorite

Chinese state-run media the Global Times

so if you're looking for good reporting

on China just watch my other channel

China uncensored

and speaking of media changing headlines

this article from the Canadian

Broadcasting Corporation or CBC racist

and inflammatory Canadians upset by epic

times claim China behind virus made it

as a bio weapon Wow there are some

problems with that headline first of all

there is no evidence that Canadians in

general feel the epic times is racist

and inflammatory

only one person the CBC interviewed said

that as it says in the article one

recipient described it as racist and

inflammatory but CBC turned that quote

into a headline which is a bit

inflammatory don't you think also to

call the epic times racist against

Chinese people is kind of silly

considering that the epic times was

founded by Chinese people specifically

Chinese dissidents who are opposed to

the Chinese Communist Party ruining

their country

also the epic times has never actually

claimed the coronavirus is a bio weapon

must be a reading comprehension issue

The Epoch Times article they cited just

focuses on the responsibility the

Chinese regime had for covering up the

virus and allowing it to spread

separately The Epoch Times has looked

into China's bio weapon research which

is well documented the CBC also claims

shun Yoon performing arts is part of the

epic Media Group which no that's not

remotely true one is a dance company the

other is a newspaper sure they were both

started by people who practice Falun

Gong but that's like saying that all

businesses started by Episcopalians are

part of one giant Episcopalian company

after a pretty big backlash from readers

and other Canadian journalists CBC did

what a reliable newspaper ought to do

they quietly changed their headline and

added a small correction at the bottom

which only addresses one of their many

errors so did the CBC mess up by not

asking the epic times for a statement

before they printed their article not

quite according to the epic Times they

did contact their Canadian publisher

Cindy GU but GU says that the CBC story

intentionally excludes crucial

information we provided to CBC prior to

the publication of its article

information like how the epic Times was

specifically trying to eliminate

racial tension by distinguishing between

the Chinese Communist Party and the

Chinese people which is obviously racist

according to the CBC that's Canadian

taxpayer dollars at work so the next

time you see an incredibly inflammatory

headline it seems maybe too good to be

real just step back for a minute and

think wait is that true and then do your

own research so what do you think of

these stories and do you like this new

segment new your comments below and

America uncovered is not funded by the

Canadian government like the CBC that's

why we rely on the support of our

viewers go to patreoncom/crashcourse

[Music]

you

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