Everywhere he goes, Donald Trump should bring a screen. Because there’s no one better at projecting. After literally years of claims that Joe Biden has some hidden cash connection with China, the latest installment of The New York Times examination of Trump’s taxes, shows that Trump has an account at an unspecified bank, holding an unknown amount of money, somewhere in China.
The secret Chinese bank account is controlled through one of Trump’s business subsidiaries, Trump International Hotels Management, and did not appear on the public documents Trump filed with claims that they explain everything anyone wanted to know without revealing his taxes. But since Donald Trump owns 100% of the Trump Organization, all of these accounts should have been on his public financial disclosures. It’s not.
The Times research suggests that Trump has three unreported accounts. One in the U.K., another in Ireland, and the third in China. The British and Irish accounts are apparently used to control funds related to his golf courses there. Which may be true, but doesn’t explain why he did not report these accounts on a form that is supposed to list all his foreign assets. It also doesn’t explain why Trump has an account in China where, supposedly, he has no properties.
The explanation from a lawyer at the Trump Organization is that the Chinese account is related to business efforts that Trump made prior to taking office, and that he “opened an account with a Chinese bank having offices in the United States in order to pay the local taxes.” However, Trump has made business deals in many countries across the Middle East, Europe, and Asia, without apparently feeling the need to have a local bank account (Unless, of course, there are still other accounts waiting to be discovered). So … why China?
There’s also a little matter of what bank the account is in. Trump’s taxes don’t specify, and Trump’s lawyer wouldn’t help. However, until last year the Industrial & Commercial Bank of China—a large, state-controlled bank—held one of the largest leases at Trump Tower in New York. Though most of that lease ended in 2019, the bank still maintains executive offices in Trump’s building.
Then there’s the even bigger matter of … just how much money does Trump have in his Chinese bank account and where did it come from? According to his attorney, the account holds only “a few thousand” dollars. However, Trump’s Hotels company paid $188,561 between 2013 and 2015, which would seem to signal that … somewhere, somehow … Trump is generating a significant amount of revenue in China.
Of course, that always was the source of Trump’s oversized novelty ties. And of the Little Red Hats that his follower must wear to signal their allegiance. There are also all the Chinese trademarks which have been helpfully fast-tracked for Ivanka, including a batch that showed up just last month.
Back in April, Vanity Fair reported that Trump owed “tens of millions” to the Bank of China over a deal in New York City. However, it turned out that loan had already been shuffled to another bank. However, what wasn’t in error was that the Trump Organization had contracted with Chinese state-owned construction firms that were—and are—building new Trump properties in the U.A.E.
Where is Trump’s Chinese bank account? Why does he have an account there, but not in countries like Indonesia and the U.A.E. where he’s engaged in active deals? And did Trump actually pay more taxes in China than in the United States?
That one of the candidates would turn out to have a secret China connection, and that the candidate would not be Joe Biden, seems absolutely predictable. Now, someone needs to bring Trump some coffee. Apparently he’s feeling “sleepy” all the time.
Posted with permission from Daily Kos.