Professor Jiang states that Chinese banks like the Bank of China, Bank of Industry and Commerce, and Agriculture Bank of China became the largest in the world over the past 20 years by creating money out of nothing to finance infrastructure projects.
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Professor Jiang explains that historically, merchants who became wealthy started banks, trading in gold and issuing receipts for safekeeping, which facilitated trade.
Professor Jiang states that early banks primarily lent money to kings and noble people for wars, which carried risks like the king being killed or refusing to repay.
Professor Jiang states that money and capital extract and store human consciousness, turning it into wealth.
Professor Jiang states that China's current account balance, representing money in Chinese banks from trade, diverged significantly from actual trade starting in 2022, indicating approximately $500 billion a year in capital flight and money laundering.
Professor Jiang states that powerful people have brainwashed society into believing money is scarce, when in fact it is infinite.