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Thread: Hong Kong Pushes Forward On China-Backed Extradition Bill Despite Massive Protests

  1. #1

    Hong Kong Pushes Forward On China-Backed Extradition Bill Despite Massive Protests

    The leader of Hong Kong has pledged to move forward with legislation that will ease extraditions to China despite a massive protest from hundreds of thousands, if not millions, of citizens over the weekend. The legislation is backed by Beijing, according to Bloomberg, and would allow Hong Kong to enter into one-time agreements with places like China and Taiwan to move criminal suspects.
    Chief Executive Carrie Lam said that the government “could see people are still concerned about the bill.” Generally, a million people taking to the streets in protest can make that point clear.

    Lam has said that the legislation has been amended to protect human rights and called on Hong Kong’s elected Legislative Council to make further changes.
    Lam remarked:
    “The society has been closely and intensely discussing the amendment bill for four months. It should be returned to the Legislative Council, which should carry out its constitutional duty. This means after vetting the bill, legislators can amend or approve the bill or whatever. Our stand is still our stand today.”
    “There is very little merit to be gained by delaying the bill,” Lam concluded.
    Hong Kong arrested 7 people who were parties to the protest on charges of "suspicion of attacking the police". Lee Kwai-wah, senior superintendent of the city’s Organized Crime and Triad Bureau, said another 12 people were arrested for blocking roads.
    Jimmy Sham of the Civil Human Rights Front, the organizer of Sunday’s protest, pushed back on Lam's comments: “Carrie Lam is provoking us. I don’t understand why a government doesn’t want us to live a comfortable life but to challenge us to see what price we can pay.”

    Sham's group plans on holding another protest outside of the legislature on Wednesday during the second of three required readings of the bill.
    Opposition lawmaker Claudia Mo said: “We don’t need any more written or verbal safeguards. We want the bill to be scrapped all together.”
    China, meanwhile, has said it "firmly" supports Hong Kong's stance on the bill.
    Chinese Foreign Ministry spokesman Geng Shuang told reporters in Beijing that China “opposes external intervention in Hong Kong’s internal legislation.”
    Yesterday we noted that over 1 million people had marched in protest against the bill.
    Time lapse video shared online on how hundreds of thousands marched to protest against an extradition bill #extraditionbill in Hong Kong pic.twitter.com/hOps5KF5VC
    — Stella Lee (@StellaLeeHKnews) June 9, 2019
    According to the SCMP, it was the most unified protest march in the city in more than a decade, with some calling it the ultimate showdown over the bill, which goes to a vote on June 12.

    If turnout numbers are accurate, it would represent the biggest protest since 2003, when 500,000 people demonstrated against national security legislation that was later withdrawn by the government. The sea of marchers set off from Victoria Park just before 3pm and streets in nearby Causeway Bay were soon brought to a standstill as protesters clad in white chanted and sang songs as they walked in the oppressive heat, according to the SCMP.

    Tensions escalated in recent weeks as Hongkongers from all walks of life have spoken out against the proposal. Petitions against the bill have circulated, thousands of lawyers staged a silent march and several chambers of commerce have voiced concerns. The bill's proponents, mostly the city's administration, see it as vital tool to fight transnational crime and maintain the rule of law.
    “This is the last fight for Hong Kong,” the WSJ quoted Martin Lee, a veteran opposition leader who founded the city’s Democratic Party. "The proposal is the most dangerous threat to our freedoms and way of life since the handover" of sovereignty, he said.




    More at: https://www.zerohedge.com/news/2019-...ive-protests-0
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

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  3. #2
    Conflict News‏ @Conflicts · 45 min.
    BREAKING: Clashes break out as Hong Kong protesters try to reach parliament - @AFP

    Conflict News‏ @Conflicts · 29 min
    BREAKING: Hong Kong police fire tear gas at anti-extradition protesters as they attempt to storm parliament. Riot shotguns also seen used. - @haaretzcom

    Conflict News‏ @Conflicts · 1 min
    UPDATE: Hong Kong protests descend into chaos, ambulances head towards rally area after clashes and tear gas. - @Reuters

    LIVE best
    https://www.twitch.tv/ronald_fung?tt...ium=live_embed


    other
    https://www.youtube.com/watch?v=FYInvGZ5AuA
    https://youtu.be/JGKbxQhjwkY
    https://youtu.be/KnPmgYGQzdo
    Last edited by goldenequity; 06-12-2019 at 02:55 AM.

  4. #3

  5. #4
    seriously why are these hun ba$tards such GIANT a$$holes?

    why I should worship the state (who apparently is the only party that can possess guns without question).
    The state's only purpose is to kill and control. Why do you worship it? - Sola_Fide

    Baptiste said.
    At which point will Americans realize that creating an unaccountable institution that is able to pass its liability on to tax-payers is immoral and attracts sociopaths?

  6. #5
    Four and a half years ago.
    We don't do that anymore.
    We have changed a lot since Venezuela.
    and
    We only extradite 'judiciously' **cough, rendition, cough** Assange, cough**

    do NOT read this.
    It's fine.

  7. #6
    Do they have a specific concern about extradition (expecting improper extraditions for X non-crime), or is this based on a generic dislike of China?
    "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

    -H. L. Mencken

  8. #7
    With the world's attention now focused on whether the US will launch World War 3 over another Gulf of Tonkin false flag event in the Persian Gulf, it seems like it was an eternity ago that Hong Kong was doused in tear gas and rubber bullets were being fired at thousands of protesters in a "riot" that has been dubbed the city's most violent protest since 2014 and meant to prevent the passage of a bill allowing Hong Kong to extradite its citizens to mainland China
    For the local financial system it was far more difficult to forget the clashes, and to avoid the biggest threat facing not just Hong Kong but also the mainland - namely accelerating capital flight and a sharp drop in the currency - overnight Hong Kong's interbank interest rates soared to the highest since the financial crisis, in an attempt to soak up liquidity and squeeze any growing short base in the Hong Kong dollar. As a result, the currency soared and stocks plunged as the mauling of FX shorts slammed local financial assets.
    The Hang Seng stock index fell 1.7% at the close, with local property developers among the biggest losers, while the Hong Kong dollar strengthened as much as much as 0.26%, the largest gain in seven months.

    Why? Because the one-month Hibor, or the interbank borrowing rate, surged 20 bps to 2.42%, the highest since 2008.

    The more volatile overnight Hibor advanced by nearly half to 2.33%.
    There were some analysts, like DBS Group economist Samuel Tse, who pretended that the violent events of the past week had nothing to do with the sudden concern about capital outflows. Tse said banks needed to hold more cash at the quarter’s end to meet regulatory requirements, while corporations also needed cash to settle bills due at the same time and to pay dividends to shareholders. Tse said one-month rates also topped 2% in December and in June 2018; what he didn't say is that there is over two weeks until quarter end.
    Other analysts, such as Linus Yip, a strategist at First Shanghai Securities, were eager to flip cause and effect, and said the fact the Hong Kong dollar had rallied against the U.S. dollar suggested there was little risk of capital leaving the city. "It is a good sign that shows a limited risk of massive fund outflow, as the demand for the local currency remains strong despite tight interbank liquidity toward the quarter-end,” he said, forgetting to add that the limited risk of massive fund outflows was only because of the surge in interbank rates, which of course is unsustainable - just ask Turkey which in late March sent its overnight rate to over 1000% for a few days.
    The truth is that the only reason for the sudden surge in funding rates is that the protests sparked fears about potential capital outflows. The resulting squeeze drove up the cost of shorting the Hong Kong dollar, which also contributed to the one-day jump.
    “Recent political events in Hong Kong are affecting investors’ confidence on the future of the city,” Springwaters Financial Securities' strategist Sam Chi Yung told Bloomberg by phone. "A stronger local dollar may hurt exporters while surging Hibors mean higher funding costs for companies with more debt."
    Meanwhile, the local banking system - and society - remains in limbo. The controversial extradition debate scheduled to take place on Wednesday in the legislature was postponed to an unspecified time after thousands converged on the legislature, blocking roads in tactics similar to 2014 Occupy demonstrations. Police fired tear gas in the afternoon, leading to some apparent injuries among protesters and officers. U.S. House Speaker Nancy Pelosi threatened legislative action in Congress to "reassess" whether Hong Kong is sufficiently autonomous.
    Of course, manipulating funding costs is a two-edged sword and while it delays or reverses sharp capital outflows, and a selloff in the currency, it also slams all local assets. In addition to the plunge in the developers, which are the most sensitive to changes in rates, among other stocks sliding in Hong Kong were Sunny Optical Technology Group which dropped 6.1% and AAC Technologies Holdings which lost 3.4%.
    Hong Kong’s two benchmarks were Asia’s worst performers in an otherwise quiet session in the region. The Hang Seng Index was only just recovering from a rout that had made it one of the world’s worst performing major benchmarks in May.
    "Uncertainty on local policies will confuse investors and affect the flows in and out of Hong Kong stocks," said Ronald Wan, chief executive of Partners Capital International Ltd. "Investors now need to ponder whether or not to pull out of the market given the local events and global factors including the trade war."
    The good news: the US Dollar tumbled to its weakest level against the Hong Kong dollar in six months, as the shorts scrambled to cover. On Thursday afternoon in Asian trading, $1 bought about 7.8248 Hong Kong dollars.
    The problem is that such artificial squeezes can only takes place so many times before the broader economy is adversely affected. For now, DBS' Tse said he didn’t see a significant risk of money outflow. "The key question remains whether the currency peg with the U.S. dollar is intact," he said, something which Kyle Bass is betting heavily against. Tse said the city’s monetary authority could defend the peg with its large foreign-exchange reserves and by injecting capital into the interbank market if needed.
    He is right, of course, only as long as the demand for USD doesn't become overpowering. Because as 2015 showed, it took China just about a year to lose a quarter of its reserves in the country's most spirited defense of its currency to date. For Hong Kong, it would probably take a few weeks, if not days, of consistent rioting before the attempts to spook FX shorts stop working and Hong Kong is forced to face the reality of billions in capital outflows, something Turkey's Erdogan is fighting tooth and nail to offset even through it may now be too late for the outspoken NATO member.



    https://www.zerohedge.com/news/2019-...pital-outflows
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  9. #8
    Hong Kong's wealthiest residents are moving their fortunes out of Hong Kong because of the new extradition law that the Hong Kong government is currently discussing, Reuters writes. The local government is planning to allow extraditions to China if someone is a criminal suspect.

    The extradition law will cover both Hong Kong residents as well as foreign and Chinese nationals living or travelling in Hong Kong. It would also allow freezing and confiscating assets connected to financial crimes. However, the confiscation could be challenged by Hong Kong courts as it needs to meet a double criminality standard—the crime would need to be penalised in both Hong Kong and China.

    Tycoons are now eyeing Singapore and some have chosen to transfer their funds there. One wealthy individual has started moving his assets—more than $100 million—from a local Citibank account to a Singapore Citibank account out of fear of being “potentially politically exposed,” said an adviser who was involved in the transactions. He also admitted there were more people quietly shifting their funds, favouring Singapore.


    More at: https://news.yahoo.com/hong-kong-tyc...160804258.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  11. #9
    Where am I going to park my assets now?

  12. #10
    I think this is how they got Menachem Begin.

  13. #11
    Quote Originally Posted by timosman View Post
    I think this is how they got Menachem Begin.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  14. #12
    Quote Originally Posted by goldenequity View Post

    https://twitter.com/elimeixler/statu...90599539056640
    Protesters appear to have some support - and they appear to be settling in for a long night
    Very quick support?

  15. #13
    Quote Originally Posted by AngryCanadian View Post
    Very quick support?
    We called whoever we could but most had Huawei phones.

  16. #14

  17. #15

  18. #16
    a good thread so far...
    SS posts showing the (real) 'game' is MONEY (being played by the western ghouls/occidental tyrants vs the chicom/oriental tyrants:
    Financial FEAR
    within: to cause/encourage a 'stampede' of capital outflows... by large Hong Kong depositors and financial sector holdings
    without: to discourage money inflows (aka capital investment ) forcing interbanks to offer more 'overnight interest' to quiet the agitated 'herd'.

    (if U listen closely.... you can hear mnuchin, bolton, pence, graham giggling in the background as they 'cheer' the 'Hong Kong Mothers' on towards 'democracy'.)

    competing tyrannies.
    it's the BEST you can hope for in the 'new' millennium.
    Freedom?
    fuggittaboutitt.



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  20. #17
    Quote Originally Posted by goldenequity View Post
    a good thread so far...
    SS posts showing the (real) 'game' is MONEY (being played by the western ghouls/occidental tyrants vs the chicom/oriental tyrants:
    Financial FEAR
    within: to cause/encourage a 'stampede' of capital outflows... by large Hong Kong depositors and financial sector holdings
    without: to discourage money inflows (aka capital investment ) forcing interbanks to offer more 'overnight interest' to quiet the agitated 'herd'.

    (if U listen closely.... you can hear mnuchin, bolton, pence, graham giggling in the background as they 'cheer' the 'Hong Kong Mothers' on towards 'democracy'.)

    competing tyrannies.
    it's the BEST you can hope for in the 'new' millennium.
    Freedom?
    fuggittaboutitt.
    The Chinese shouldn't of pulled out of the deal. Winnie The Pooh wants to completely take over Hong Kong because he is losing his grip on power of the CCP because their economy is having all the air sucked out of it. Winnie The Pooh thinks he can take over HK and their resources because they can't take the heat.

  21. #18
    Quote Originally Posted by nikcers View Post
    The Chinese shouldn't of pulled out of the deal. Winnie The Pooh wants to completely take over Hong Kong because he is losing his grip on power of the CCP because their economy is having all the air sucked out of it. Winnie The Pooh thinks he can take over HK and their resources because they can't take the heat.
    The elitists and NGO groups like NED who want regime change in Asia and in China against Chinese have miscalculated again. HK wont survive on its own. Look at Kosovo its barely alive its economy or if they have an economy at all.

    No matter why these protesters groups claim. HK is still part of China and Chinese.

  22. #19
    Quote Originally Posted by AngryCanadian View Post
    The elitists and NGO groups like NED who want regime change in Asia and in China against Chinese have miscalculated again. HK wont survive on its own. Look at Kosovo its barely alive its economy or if they have an economy at all.

    No matter why these protesters groups claim. HK is still part of China and Chinese.
    The culture is completely different HK is more like China before the communist party came in and started destroying thousands of years of history and reducating millions of people

  23. #20
    Quote Originally Posted by nikcers View Post
    The culture is completely different HK is more like China before the communist party came in and started destroying thousands of years of history and reducating millions of people
    I have seen the opposite from the pictures the fact that these protests were showing pictures of British flags and saying things l "Against Chinese Colonization" really told me everything.

    The only reason Britain wanted HK was because of its area and since it was closer to China.

  24. #21
    nvr waste an opportunity....

    Hong Kong’s Caught In A Color Revolution Crisis
    https://orientalreview.org/2019/06/1...lution-crisis/

    The largely grassroots movement that’s organically sprung up in Hong Kong might be mostly comprised of well-intended people,
    but that doesn’t take away from the fact that it has all the hallmarks of a Color Revolution
    and could very easily be hijacked by foreign forces and their extremist collaborators in order to provoke another Tiananmen Square incident.


  25. #22
    Quote Originally Posted by AngryCanadian View Post
    I have seen the opposite from the pictures the fact that these protests were showing pictures of British flags and saying things l "Against Chinese Colonization" really told me everything.

    The only reason Britain wanted HK was because of its area and since it was closer to China.
    It tells me they think they were better off under the British empire than under the ChiComs.

    Quote Originally Posted by goldenequity View Post
    nvr waste an opportunity....

    Hong Kong’s Caught In A Color Revolution Crisis
    https://orientalreview.org/2019/06/1...lution-crisis/

    The largely grassroots movement that’s organically sprung up in Hong Kong might be mostly comprised of well-intended people,
    but that doesn’t take away from the fact that it has all the hallmarks of a Color Revolution
    and could very easily be hijacked by foreign forces and their extremist collaborators in order to provoke another Tiananmen Square incident.



    I have no doubt that western dirty tricksters are involved but you can't ever find a movement that dirty tricksters from one side or another haven't infiltrated.

    The ChiComs are an immense threat to the world and their coming collapse is something to be cheered.
    Fortunately the western empire is going to shatter soon too so we don't need China to balance them.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  26. #23
    Quote Originally Posted by goldenequity View Post
    nvr waste an opportunity....

    Hong Kong’s Caught In A Color Revolution Crisis
    https://orientalreview.org/2019/06/1...lution-crisis/

    The largely grassroots movement that’s organically sprung up in Hong Kong might be mostly comprised of well-intended people,
    but that doesn’t take away from the fact that it has all the hallmarks of a Color Revolution
    and could very easily be hijacked by foreign forces and their extremist collaborators in order to provoke another Tiananmen Square incident.

    I don't get it, I hope my country would fight for free speech the way they are doing. I hope the United States never jails people for speech or specifically for criticizing the government.

  27. #24
    Quote Originally Posted by Swordsmyth View Post
    It tells me they think they were better off under the British empire than under the ChiComs.





    I have no doubt that western dirty tricksters are involved but you can't ever find a movement that dirty tricksters from one side or another haven't infiltrated.

    The ChiComs are an immense threat to the world and their coming collapse is something to be cheered.
    Fortunately the western empire is going to shatter soon too so we don't need China to balance them.


    It tells me they think they were better off under the British empire than under the ChiComs.
    Many People in India fought agaisnt the British and its British ooccpation to get away from their rule. And its always rather ironic that there are a very few of some people who loved it or wish to be with the British rule.

    Those who made it during the British Rule were mostly very wealthy people, ordinary people never have a say.



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  29. #25
    Quote Originally Posted by nikcers View Post
    I don't get it, I hope my country would fight for free speech the way they are doing. I hope the United States never jails people for speech or specifically for criticizing the government.
    How has that regime change in Libya or Iraq worked?

  30. #26
    Quote Originally Posted by AngryCanadian View Post
    Many People in India fought agaisnt the British and its British ooccpation to get away from their rule. And its always rather ironic that there are a very few of some people who loved it or wish to be with the British rule.

    Those who made it during the British Rule were mostly very wealthy people, ordinary people never have a say.
    Hong Kong isn't India and the ChiComs will be much worse than the British were.
    The British should have returned Hong Kong to Taiwan instead of the mainland commies.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  31. #27
    Quote Originally Posted by AngryCanadian View Post
    How has that regime change in Libya or Iraq worked?
    Terrible and I never want to live in an America where I can't criticize the government. More importantly the Chinese communist party are the ones doing regime change. If they can extradite anyone in Hong Kong than they can take anything they want from them by force legally.

  32. #28
    Quote Originally Posted by Swordsmyth View Post
    Hong Kong isn't India and the ChiComs will be much worse than the British were.
    The British should have returned Hong Kong to Taiwan instead of the mainland commies.
    The British should have returned Hong Kong to Taiwan instead of the mainland commies.
    America should have returned Kosovo back to Serbia but no. But now its a state with an economy that doesn't exist barely running mostly through crime and drugs of course but you get the picture?

  33. #29

  34. #30
    Thousands of people took to the streets of Hong Kong on Friday for the third time in less than a week, calling for the city-state's chief executive Carrie Lam to resign, while demanding that the government drop a controversial extradition bill which would allow Hong Kong to extradite people who are wanted for crimes in mainland China.
    Arsenal St out front of #HK police HQ is really packed and LOUD right now. Main call: Release them! pic.twitter.com/SV8gMieLhP
    — Kong Tsung-gan / 江松澗 (@KongTsungGan) June 21, 2019
    The mostly young protesters surrounded the police headquarters in the city's Wan Chai district on Friday - blocking roads and staging a sit-in less than half-a-mile from legislative offices.

    More at: https://www.zerohedge.com/news/2019-...-demonstration
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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