Monday, April 27, 2020

Trump Owes Millions To Bank Of China?

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On Friday, out of the bowels of the left-leaning, widely read POLITICO news organization, a story was birthed which told the world that President Trump owed the state-owned Bank of China "tens of millions of dollars," which will come due about halfway through his second term as President---should he be reelected.

Our country and the world took note.

POLITICO extended the "news story" to include that "this is a historic precedent" and their "news story" revealing that Trump is indebted to China, will "complicate one of Trump's emerging campaign attacks against Biden" and his cozy relationship with China.

Who would not be concerned about that kind of revelation?

Also, a comment on the video "Donald's Bible" embedded in our Friday edition of this article.

Be informed.

In our Friday edition of this Faith and Freedom Daily column titled, "Donald's Bible," we embedded a special video presentation which was an important part of what we were saying. While the link was active when we included it, many of you later discovered the video had been blocked or removed when you clicked it.

We have included another link that was still valid late last night. This is a link to Friday's article and the video.

The story

Politico's "bombshell," as they like to call these kinds of stories, began with this: "Donald Trump is warning 'China will own the United States' if Joe Biden is elected president."

It continued,
"But Trump himself has taken on debt from China. In 2012, his real estate partner refinanced one of Trump's most prized New York buildings for almost $1 billion. The debt included $211 million from the state-owned Bank of China---its first loan of this kind in the US---which matures in the middle of what could be his second term."

Politico noted that the building is one of the most prestigious in his investment portfolio and that he owns 30% of the 43-story, $1 billion building.

The "news" organization went into great detail to expose Trump's web of involvement with the state-owned Bank of China.

It was a "this should finally bring him down" story.

However, the story was not true. It was a deception. "Fake news."

Also, on Friday, the people over at Breitbart News saw the Politico story and published their own story, "Donald Trump does not owe the Bank of China tens of millions of dollars."

A fairly quick and easy fact check shows that Donald Trump was not the borrower and Bank of China is not the creditor to the investment vehicle that owns the New York City office building that was the focus of the Politico story.

Trump does have an investment interest in the building. His organization owns 30%.

Back in 2012, the building was refinanced with a $950 million loan from a consortium of banks that included the Bank of China, which had already become one of the largest real estate lenders in the US. The other lenders included Deutsche Bank, UBS, and Goldman Sachs.

Those loans were then packaged into bonds, commercial mortgage-backed securities, and sold to investors. This means any payments would go to Wells Fargo, not Bank of China. The bonds are owned by a wide range of investors, including mutual funds managed by Vanguard, JP Morgan Chase, and T.D.Ameritrade.

The "securitization" happened within days of the closing of the original loan---8 years ago--- and ended the Bank of China's role in the loan.

The deal was sponsored by the controlling partner Vornado without any active involvement by the Trump organization or President Trump himself.

Breitbart concludes,
"Contrary to the false report in Politico, the President had no financial dealings with the state controlled Chinese bank."

Politico's response to being publicly called out.

On Saturday morning, Politico began editing their story. The story now begins by stating that it has been "updated to include comment from the Bank of China and additional reporting."

Although the story included a great deal of false statements that were very damaging so-called "news," they have not, as of today, recognized there was a substantive error in the story. There has been no formal correction. They have merely tweaked the story in an attempt to avoid a lawsuit.

Now Biden and his mainstream media allies are pushing back hard---you'll hear mention of it today in your news---breathlessly letting America know that Trump is doing private deals with Communist China.

The very thing Hunter Biden, on the coattails of his father, then-Vice President Joe Biden, actually did. And is still doing.


This story made news back in 2012 because although China's original interest in the loan was extinguished in a matter of days after the deal was done, it was the first time a loan with Chinese participation was securitized, meaning packaged into a mortgage-backed security, and sold to investors.

Politico had to know this if they did any research.

So we ordinary folks are left to decide, is Politico so inept they couldn't understand what happened?

Or do they think we-the-people are so stupid and uninformed that we'll just buy their story and be thankful we found out that Trump, not Biden, is now "colluding with China?"

I think we know the answer.

Today on the radio I'll be sharing how God's sovereignty allowed Europe, not China, to colonize this American continent.

Join me on the radio from anywhere in the world. Here's how.

Now, more than ever, we must.....

Be Informed. Be Discerning. Be Vigilant. Be Prayerful.