In cased you missed this...
Part II coming out tomorrow "The Role of Goldman Sachs in Engineering Global Financial Crises"
The True Origins of China’s “Social Credit System” Part I
One of the most infamous criticisms of China over the past several years that has formed the basis for viewing the country as an Orwellian surveillance state and its citizens as mere drone-like-automatons is its supposed “social credit system.” But what if I were to tell you that the origin of this Orwellian “social credit system” and the fintech (finan…
To highlight some key points in this paper:
1. P2P fintech loans originated in the UK, under an arm of the British multinational bank Prudential, which was established during the Opium War era and now focuses on African and Asian markets.
2. Britain still holds a great deal of influence over Hong Kong banking and finance, controlling 2/3 of Hong Kong’s printed money.
3. Prosper and LendingClub, two American P2P fintech loan giants (the first in the U.S.) played a role in the 2008 financial crisis and created their own “social credit systems.” LendingClub has paired up with Google, and in the past was paired with Alibaba, in their services with questionable applications for an evolving “social credit system.” Prosper is financially backed by BlackRock, eBay and Google among others. Thus, Prosper and LendingClub’s private credit scoring are enmeshed with social platforms, most notably with Google.
4. Fintech companies in the West are either acquiring banking licenses or the right to purchase a registered bank and are acting as quasi-banks. The consequence of this will be less small to medium banks since they will not be able to compete. Only big banks will survive and as we have seen, are actually playing a large role in promoting these predatory fintech companies acting as quasi-banks.
5. BlackRock was born out of the notorious Blackstone which played a major role in the sub-prime mortgage crisis in 2008. BlackRock and GIP (which BlackRock owns) work directly for the Global Infrastructure and Investment Partners (GIIP) a G7 initiative to buy up infrastructure around the world in opposition to China’s Belt and Road Initiative.
6. It is the American people who had to foot the bill for the 2008 financial crisis and have been going further and further into debt. Meanwhile predatory lending is not only allowed to continue but is increasing in magnitude. With companies like DoorDash pairing up with a Swedish fintech company headquartered in London using the “Buy Now, Pay Later” model as an example. As Americans go further into debt, they will be increasingly vulnerable to American fintech companies private “social credit systems.”
7. The timing of P2P loans could not have been better. As the 2008 financial crisis hit the world, not only the United States, but all countries were in desperate need for loans as profits began to tank globally.
8. P2P lenders in China were giving out so many loans that they became known as the “shadow banking system,” a system that began to directly challenge China’s official banking and financial system. It was Zopa (UK), Prosper (US) and LendingClub (US), which formed the complex algorithm that was then used around the world, including in China, in spreading the epidemic of predatory P2P loans.
9. eZuBao, an arm of Yucheng Group, was the largest P2P fraud case in China. Yucheng Group is registered in the British Virgin Islands.
10. There are no P2P lenders in China anymore due to heavy regulation. However, P2P lending continues throughout Europe and the Untied States today.
11. It is Goldman Sachs that led a consortium of financial institutions to give Alibaba its first funding of $25 million in total in its embryonic state.
12. It should be noted that all of these online companies, like Uber, DoorDash, Opendoor etc. are headquartered in California, with many in Palo Alto and San Francisco as their hub. Again, this is very relevant to Project Stargate.
13. SoftBank Vision Fund, the world’s largest technology-focused investment fund, is headquartered in London, England despite being founded by Masayoshi Son, the head of SoftBank, who lives in Japan.
14. In January 2025, SoftBank Group, Oracle Corporation, MGX [Saudi Arabia], OpenAI, and other partners established The Stargate Project as a cooperative venture aimed at building AI infrastructure in the U.S.
15. Softbank is also working closely with Tether and OpenAI. SoftBank is the third largest stakeholder of OpenAI after OpenAI, and Microsoft. SoftBank is also a 40% owner of Project Stargate.
16. The year that China reigned in Alibaba/Ant Group and forced them to be beholden to Chinese regulation is the year SoftBank drops Jack Ma like a sack of potatoes.
17. Joseph Tsai ran Alibaba’s IPO which was managed by six behemoth western banks: Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Citigroup.
18. J. Michael Evans had worked as Vice Chairman of Goldman Sachs and Chairman of Goldman Sachs Asia and spent 19 years as a Partner before becoming Alibaba’s President.
19. Alibaba Group is registered in the Cayman Islands. After Jack Ma and Joseph Tsai the largest shareholders of Alibaba are Vanguard and BlackRock. The “Golden Share”, the only Chinese state-owned entity that holds an influential stake, which is 1%, is the Cyberspace Administration of China, established in Dec. 2022. The “golden share” gives the Chinese government the right to veto or approve any key decisions made in the Alibaba’s Group structure, function and direction.
20. Perhaps this is the reason why Masayoshi Son of SoftBank dropped Jack Ma like a sack of potatoes? He could see the writing on the wall that the Alibaba Group would not be an easy conduit for Project Stargate into China.
21. Martin Lau, the man who built Tencent to what it is today, was a McKinsey and Goldman Sachs man before joining Tencent.
22. McKinsey & Co. was at the center of America’s opioid epidemic.
23. Tencent’s majority shareholders are Prosus Naspers (South African), BlackRock and Vanguard. Tencent is registered in the Cayman Islands.
23a. There are no significant Chinese state-owned, bank or business shareholders of either Alibaba or Tencent. Only the 1% “golden share” for both, that gives the Chinese government the right to veto or approve key decisions the companies make.
24. Goldman Sachs is working closely and is heavily invested in Project Stargate, SoftBank, OpenAI, Microsoft, and GIP (BlackRock).
25. OpenAI has on its board the head of GIP (Global Infrastructure Partners) which is owned by BlackRock. Among the members of the board of OpenAI are notable affiliations with Microsoft and BlackRock. The two main entities tasked with heading the G7 initiative Global Infrastructure and Investment Partners (GIIP) in buying up infrastructure around the world to counter China’s Belt and Road Initiative. Thus, this initiative appears to be directly tied with Project Stargate via OpenAI.
26. Credit Suisse was also entangled in the opioid epidemic and directly tied to Purdue Pharma. It collapsed due to the magnitude of the scandal and was absorbed into UBS. Credit Suisse was one of the six banks that managed Alibaba’s IPO. UBS was one of two banks that managed Tencent’s IPO.
27. Adebayo Ogunlesi worked for Credit Suisse, then became the Lead Director on the board of directors of Goldman Sachs. He founded GIP which was purchased by BlackRock, he continues to run GIP. He is also on the board of OpenAI.
Breaking Free of Anti-China Psyops
Cynthia Chung is the President of the Rising Tide Foundation and author of the books “The Shaping of a World Religion” & “The Empire on Which the Black Sun Never Set,” consider supporting her work by making a donation and subscribing to her substack page Through A Glass Darkly.
very nice, I can't wait. I want to know who is really behind the fake financial system. lots of what is accepted in the public mind is fake. biological science is mostly installed by the medical education owners too. as well as much 'science' based on computer modeling. dna genetics all debunked. thanks for your work, now we can debunk economics too, it's been a long time coming.
Just wanted to say your work is excellent. I read it and enjoy it and, best of all, learn from it. Both of you are prolific, clear and logical. Thank you for the hard work that goes into your writing.