Zhai Shanying: The Pride of the CCP's Subjects—Huawei Maggots

In the video, Zhai Shanyin provides a detailed analysis of the growing government debt in the Chinese mainland, pointing out that government debt has broken through 100 trillion and is projected to exceed 200 trillion by 2030. He emphasizes that the primary reason for casting this massive debt is the lack of core pillar industries, causing the economy to shift from an income-pillar model to a debt-pillar model. At the same time, he discusses how the Chinese Communist Party (CCP) attempts to reverse the economic downturn through measures such as new-system mega-infrastructure. He stresses that under the CCP's current policy, nearly every citizen is burdened with huge losses and debts, and points out the deep-rooted connection between the creation of massive debt and the wealth gap.

Video Link:

Full Text:

Alright, today things are moving pretty fast. Wow, weeks just fly by so quickly.

Hello friends, today is Friday, May 29, 2026. Welcome to Zhai Shanyin's YouTube channel for a chat and relaxation. A sleep aid for friends back home, and clarity for friends overseas.

An old saying, an old saying, much like "I built this mountain," big uncle, the Beijing uncle.

Opening with a piece of information: the balance of the CCP government's debt has reached 101.15 trillion, officially breaking through the 100-trillion mark.

One hundred trillion.

This is the debt publicly disclosed by the CCP government, officially made public, excluding things like urban investment bonds, central state-owned enterprises, and state-owned enterprise-related debts—none of those are included, nor is the implicit debt. So out of this 101.15 trillion, calculated based on the 14 million people stated by the CCP authorities, the debt for every single person in the Chinese mainland is 73,000.

Due to the lack of core pillar industries, our country's economic model, as I mentioned in early 2025, has transformed from an income-pillar model to a debt-pillar model, relying entirely on borrowing. Therefore, this figure can only expand faster and faster, with an accelerating speed. We will see from historical data shortly.

Indeed, the CCP currently demonstrates the superiority of socialism, called whole-people ownership. So despite this, how much monetary wealth per capita remains for every individual in the society of the Chinese mainland? 15,700. Is the average for everyone really this much? Yes. The total residents' savings of all citizens in the Chinese mainland, according to official data, minus the total credit of all kinds of credit for the entire population, divided by 14 million, leaves an average monetary wealth of 15,700 for every resident.

However, if we factor in the country's over 100 trillion in debt and the 7,300 in debt, then every citizen in the Chinese mainland currently carries a net individual burden of 60,000 in net debt.

Moreover, the rate at which this quota expands is extremely fast. How fast? In 2008, the first piece of data officially announced by the CCP showed that the CCP's government debt balance was 10 trillion. By 2021, 13 years later, at the end of 2021, what did the CCP say the debt balance was? 50 trillion. So going from 10 trillion to 50 trillion took 13 years.

From the end of 2021 to May 2026, just over 4 years, it grew from 50 trillion to 100 trillion. Did you understand that? Going from 10 trillion to 50 trillion took 13 years, but going from 50 trillion to 100 trillion took only 4 years.

Therefore, according to this acceleration rate, by 2028, the debt of the Chinese mainland—merely the debt announced by the government—will definitely be between 150 trillion and 200 trillion, with no possibility of being less than 150 trillion. But according to current statistical methods, unless a major problem occurs, the possibility of breaking 200 trillion is not particularly large either.

However, by 2030, as long as 2030 arrives and the Chinese Communist Party is still in leadership, the debt balance will certainly exceed 200 trillion. So by that time, accompanied by the population decline in the Chinese mainland, if the CCP has not fallen by 2030, every person in the Chinese mainland will gloriously shoulder a debt of 200,000.

200,000. Printing a badge, printing a badge for every Chinese person, with the words written on it: 200,000 in debt. A socialist country, after all, with whole-people ownership.

So under such circumstances, the CCP's own announcement—has it gone silent? Yes, no longer caring about it. Then under such circumstances announced by the CCP itself, everyone can see, such a huge sum of money, within the debt system, what will the CCP do in the future?

The era of massive debt. Of course, it won't wait until 2030; we will talk about this with everyone next time. Next Tuesday, we now do live streams twice a week, on Tuesday and Friday. Now the CCP is facing such a massive debt for the entire population, such an enormous debt—will it tighten its belt and lead the whole population through hard times, or will it have a sudden flash of inspiration and take an unconventional path?

Alright, let's look at this information and let it guide us to see whether the Chinese mainland is currently enduring hard times down-to-earth or if the CCP is acting on a whim and starting to do something miraculous again. We can just apply the ideas of logic to let everyone see why the debt in the Chinese mainland can rise so fast.

It is terrifying. Just think about this debt growth, this number is too terrifying, and furthermore, this number doesn't match many numbers in the Chinese mainland; that is terrifying.

Looking at the data recently released by the National Bureau of Statistics of the Chinese Communist Party (CCP), let's examine what's going on. In April of this year, one figure stood out sharply. Although the aggregate financing data for April was super poor, and some data points were terrible—such as total retail sales—there was one indicator that performed exceptionally eye-catching: the Producer Price Index (PPI). Factory gate prices unexpectedly rose by 2.8% year-on-year and 1.7% month-on-month. This is the most impressive data in nearly four years.

Immediately following that, what was the year-on-year profit growth of industrial enterprises above the designated size? Take a guess. It was 24.7%. This figure is so dazzling it's hard to imagine; there hasn't been data this impressive in over a decade.

Therefore, regarding the overall national economy, when aggregate financing data is so poor—I'd say financing has gotten as bad as it can possibly get—alongside extremely poor retail sales and high levels of other data and debt, these two startlingly bright indicators lead many people to wonder: Is China's industrial production exceptionally awesome? Has it become the pillar industry of the economy? Is the Chinese economy finally stabilizing?

So let's return to our old saying: know the what, know the why; draw inferences from one instance and master the whole subject. If you want to clearly understand problems of this nature—why logic studies are so interesting—you have to look at the breakdown.

First, let's look at why everything else is so poor while the PPI looks so great. Upon examining the PPI, it turns out that apart from three categories of industries, everything else is declining, and dropping sharply at that. Yet it was precisely these three rapidly growing categories that suddenly pushed the entire PPI upward.

Which three categories? The first is the computing power industry chain, which we talked about last time—the computing power supply chain related to data processing. The second is the non-ferrous metals industry chain. The third is the petrochemical industry chain.

Think about it everyone; among these, the one we might actually understand is why the petrochemical industry chain is rising. It's commonly called imported inflation. Since the US and Iran are fighting, our crude oil import prices might become more expensive, hence imported inflation. What about the other two? How did the non-ferrous metals and computing power industry chains grow?

Let's list the rising PPI drivers right here: computing power, non-ferrous metals, and petrochemicals. Only these three went up while everything else dropped, and dropped miserably, yet the rise of these three covered it all.

Next, let's look at the second question: In which three sectors did profits of industrial enterprises above the designated size grow? Also three.

First, the manufacturing of computers, communications, and other electronic equipment, up 107.7% year-on-year.

Second, the smelting and pressing of non-ferrous metals, up 117.8% year-on-year.

Third, the manufacturing of raw chemical materials and chemical products, up 73.4% year-on-year.

Profits in these three sectors increased by nearly 800 billion yuan, accounting for 100% of the newly added profits for all industrial enterprises above the designated size. Looking further into the sub-items, apart from these three sectors, everything else either made no money or suffered severe losses. Agricultural and sideline food processing, food manufacturing, tobacco, printing, non-metallic minerals, ferrous metal smelting and calendering, electricity and heat production, water supply, and so on—none of these made money.

Moving on to complete automobiles and auto parts, real estate, furniture, building materials, clothing, and ordinary consumer goods, they suffered severe losses.

Interesting, isn't it? In other words, our PPI figures look this gorgeous relying entirely on three areas: the computing power industry, the non-ferrous metals industry, and the petrochemical industry. Looking at the profits of industrial enterprises above the designated size, it's also the computer, communication, and other electronic equipment manufacturing industry, the non-ferrous metals smelting and calendering processing industry, and the chemical raw materials and chemical products manufacturing industry. The names differ, but the internal core content is virtually identical. These three happen to correspond to those three; aside from minor naming variations, the contents included within them are practically the same. The remaining dozens of items all suffered major drops or showed no growth.

Coming to this point, does it make a bit more sense? When abnormal things happen, there is bound to be a demon behind them. Why did everything else keep dropping nonstop apart from these three parts? Why did these three rise so well, suddenly making the data look so attractive? What factors caused other industries to make no money and suffer heavy losses, while the profits of these three industries grew not just twofold, but by dozens or hundreds of times?

When we look at the corresponding information again, what becomes clear?

According to the government work report issued by the CCP's National Development and Reform Commission (NDRC) at this year's Two Sessions, starting from the second quarter of this year—meaning April—a major initiative was launched nationwide. What was this initiative? In April of this year, a meeting of the Political Bureau of the CCP Central Committee clearly announced it, and the CCP's National Data Bureau also issued the "Key Points for Digital Economy Development in 2026" to all central government departments and local governments across the country in April.

What major action started in April? It's called New-Quality Mega-Infrastructure.

"New" as in new-quality, "quality" as in qualitative. It uses phrasing similar to the past concept of new-quality productive forces, which were represented by new energy. Now it's called new-quality mega-infrastructure. Everyone already knows about new-quality productive forces—they went nowhere, nobody talks about them anymore, they failed. Now the state wants to undertake new-quality mega-infrastructure.

Awesome. Once again under the direct leadership of the great leader Xi Jinping, an epic, glorious campaign has begun anew. Just how glorious is it? According to explicit CCP Central Committee documents, focusing on the construction of the six major networks for new-quality mega-infrastructure this year alone, how much funding is scheduled to be invested in 2026? Over 7 trillion RMB.

Over 7 trillion RMB, in a single year, you heard that right. Everyone can check government documents to verify this. In reality, this means that during the second, third, and fourth quarters, this 7 trillion yuan is going to be completely spent on this new-quality mega-infrastructure sector.

What is the logic behind the six networks mentioned this time? Because the traditional large-scale infrastructure of the past was called the "Iron, Public, and Chicken": railways, highways, and airports. The central government document this time states that this classification must be completely broken and reorganized. This thinking of breaking and reorganizing is the same as when that fucking idiot Xi Jinping broke and reorganized the traditional model of the Chinese military.

What is this new quality large-scale infrastructure intended to build? It is called a trinity of modern networks: "physical foundation, energy foundation, and digital foundation." What a fucking awesome term. I have been a counselor to the State Council for so many years, and I used to work in the High-Tech Department of the NDRC, but even I don't know what this term means. Anyway, it's a very awesome concept and sounds great.

What are these six networks? The water network, which is the physical foundation. The new power grid, which is the core of the energy foundation. The computing power network, which is the core of the digital foundation. The new generation communication network, which is the tentacles of the digital foundation. The urban underground pipe network, which is the lifeline of the city. The logistics network, which is the circulatory system.

Six networks, okay, 7 trillion yuan.

Among them, the water network, urban underground pipe network, and logistics network are all things that have already been built a lot in previous large-scale infrastructure, so this time it will mainly be about improvement, and less money will be spent. As for the new power grid and the new generation communication network, there were already power grids and communication networks before, and this time it is called optimization, optimized according to the needs of modern networks, and not much investment is needed either.

So what is the 7 trillion yuan mainly invested in? Only one of the six networks: the computing power network. Computing power, the power of calculation, the computing power network. A newly constructed network. This is the key core area of this new quality large-scale infrastructure.

Regarding the large-scale infrastructure of computing power, that is, the computing power network, I have talked about it in my previous live streams and explained the details, so I won't repeat it. So do you understand now? Our high-quality data in April must have an absolute and direct relationship with this 7 trillion yuan investment being poured into the new construction of the computing power network.

I have to say, our great leader, the fucking idiot Xi Jinping, is truly awesome. New quality productive forces failed, and now he has launched new quality large-scale infrastructure. This person's self-awareness—no, he has no self-awareness—has really reached a level that I think is rare.

I told you last time, because I didn't have time to list them for you. More than 100 projects were launched, and they either disappeared without a trace or failed completely. You have ruined the country like this and spent money in such a fucked-up way; anyone who is not a total fucking idiot should have started to question their own judgment. You launched new quality productive forces, spent so much fucking money, tens of trillions, and nothing came of it. And yet, you don't question it, and you turn around and launch new quality large-scale infrastructure.

Awesome. So whether it's the Saint of Acceleration, the Accelerator, or the elementary school student, we must say that this name is definitely not called for nothing; it is truly awesome.

How are these six networks of new quality large-scale infrastructure, especially the computing power network, being refined at the local level? With the computing power network as the core, it includes data networks, satellite internet, industrial IoT, energy networks, urban perception networks, AI infrastructure projects, and so on. In April, local governments and the central government began to invest around this.

So, where was this massive fortune of 7 trillion yuan starting in April dumped? The first area it hit was computing chips, semiconductors, all-in-one machines, servers, government service clouds, and large-scale domestic substitution standard projects.

So you can imagine, in the sub-items of computer, communication, and other electronic equipment manufacturing, do you know? I just mentioned that there is a sub-item in these two areas called special materials for semiconductors. Do you know how much the profit in this field increased year-on-year in April? Let me tell you: a year-on-year increase of 601.7%.

Did you hear that? Too much money, 601.7%.

In this CCP government procurement, there is a clear document requirement that domestic substitution is the main theme. What does that mean? Preparing for isolationism. What is domestic substitution? Foreign products are no longer used, and everything is produced by China itself; this is called domestic substitution. We also know that they can't replace a single thing, but this is just to fool the fucking idiots among the common people. But they love it, and they call domestic substitution the main theme.

Therefore, as long as any enterprise can brand itself as "purely domestic," "autonomous and controllable," or having "specific national qualifications," the relevant industry can enter various local projects without the need for market competition. As a result, many computing power products and security systems that have a public market price of 100,000 or even 50,000 yuan are often bid at 1 million yuan in this government procurement, with the highest bid reaching 4 million yuan. Something worth 100,000 in the market is sold to the government for 4 million; these are exclusive products.

We can see these prices publicly on the government procurement website. But because the main theme of domestic substitution has been clearly required, you cannot raise any objections to such high prices. The CCP government is not afraid of people seeing it; that is the only reason they need.

I don't quite understand. Doesn't that fucking idiot Xi Jinping know that even the United States cannot achieve domestic substitution? The United States knows that in the simplest digital products, many related chip cores are produced by Japan, South Korea, and other countries around the world. Now, the entire global digital product industry is globally linked; even the United States cannot achieve full domestic substitution. For China to do domestic substitution, how fucking stupid must one be to believe this reason?

I can't figure it out. But since that fucking idiot wants to do it, and he is the Accelerator, then let him do it.

This kind of non-market-oriented, super-excessive profit has provided a massive amount of unimaginable book profits for the CCP's numerous white-glove enterprises or affiliated companies. Of course, behind these insane profits, there must be terrifyingly corrupt gray interest chains and kickback schemes. So we can also infer that out of these 7 trillion, an estimated 6 trillion has likely ended up in the pockets of a certain group of people, creating a new wave of wealth, and adding a new batch of billionaires to China; those who were already billionaires might have become multi-billionaires.

Just think about it, 7 trillion. This whole affair is truly a cause for celebration for everyone involved. The fucking idiot Xi Jinping makes decisions on a whim, and all the intermediaries pay the bill.

So, for the first part, in the PPI classification, it is called the computing power industry chain, and in the industrial enterprise profit classification above designated size, it is called the computer, communication, and other electronic equipment industry. Now everyone understands why it is growing violently.

Having finished that, let's move on to the second part. What is going on with the second part? The non-ferrous metal smelting and rolling industry—why is this also growing violently? The name is hard to understand, but what does it actually refer to? It refers to high-density strips, sheets, and wires made from non-ferrous metal processing, specifically used for building computer servers and computing power centers.

For example, the core basic materials for AI servers, computing chains for computing power systems, computing chips, communication base stations, and high-end motherboards are all high-precision electronic copper foils. The massive cooling systems for digital infrastructure and computing power centers mainly use aluminum materials. As for chip packaging, optical communication components, and optical device interfaces, they all require large amounts of bonding gold wires, sputtering targets, and so on.

So everyone understands now: the second part, the non-ferrous metal industry chain in the PPI classification, and the non-ferrous metal smelting and rolling industry in the industrial enterprise profit classification—why are they growing violently? It is still related to this, still revolving around these 7 trillion.

For the third part, some people don't understand: how could petrochemical products grow? Isn't that just chemicals? Just think about the money spent on all the purchased computer and network systems. Due to the demand for domestic substitution, they have actually abandoned the high-quality and affordable products from American companies like 3M.

What kind of products? Electronic fluorinated liquids and cooling liquids that cost over 50% or even double the price of domestic alternatives. They don't even use the high-quality, affordable ones from others; they insist on using China's high-priced, low-quality ones. That's right, for such a massive computing power network, the demand for cooling liquid alone is an astronomical figure.

Are you using domestic substitution because cooling liquid might leak secrets? Is there something wrong with the fucking cooling liquid too? No, it's just that since that fucking idiot Xi Jinping doesn't understand anything and demands domestic substitution, even the cooling liquid is being domestically substituted.

Furthermore, in the entire large-scale system, places prone to corrosion or leakage, especially in cooling systems and complex environments, require high-end fluororubber, silicone rubber, and other special compound materials for pipes and seals. There are also epoxy resins and polyimides, which form the "flesh and blood" of chips and motherboards. Then there are liquid crystal polymers and special plastics—materials used in high-end antennas and high-speed connectors. Everyone understands, these are all chemical products.

Most of what is produced in the CCP's China is high-priced and low-quality. Internationally, many are low-priced and high-quality. The leading chemical enterprises in the CCP's China are inferior to international counterparts for similar products. But this time, they were all taken by massive orders at prices far exceeding similar international products. Why? I already said it: domestic substitution.

Add to that the high-concentration sulfuric acid, hydrofluoric acid, and hydrogen peroxide used for cleaning and etching chips—as long as the purity level reaches electronic grade, the price and profit are hundreds of times higher than traditional sulfuric acid or hydrofluoric acid. You heard that right, hundreds of times. As for nitrogen trifluoride and silane, the high-purity gases used for lithography and etching, the prices all rise with the purity. Domestic substitution.

So now you understand why the third part, classified under PPI as the petrochemical industry chain and under industrial enterprise profit classification as the chemical raw material and chemical product manufacturing industry, is growing rapidly. Do you see it clearly? 7 trillion.

So, by presenting facts and reasoning, you all know now, right? This April, when all economic data was very poor, the growth in the CCP's China's PPI and the profits of industrial enterprises above designated size came entirely from three areas: computer-related fields, accounting for about 50% of the overall profit growth; the non-ferrous metal smelting and rolling industry, accounting for about 25% of the overall profit growth; and the chemical raw material and chemical product manufacturing industry, accounting for about 25% of the overall profit growth.

Except for these three, all other industries in China, whether in terms of ex-factory prices or profits, are not only not growing, but most are suffering from severe losses.

7 trillion. In one year, go online and check, ask artificial intelligence. Spent, all 7 trillion-plus spent. For the entire year of 2026, the CCP's budget for the country's 1.4 billion people across all areas—social security, education, medical care, employment, etc.—adds up to just a little over 10 trillion. This 10 trillion includes the salaries and bonuses for all educational staff in China, various school construction projects, funding for all research institutions, operational guarantees for public hospitals, medical insurance subsidies, the construction of the national disease control system, various construction projects for public hospitals, medical equipment procurement, pension subsidies, employment subsidies, unemployment insurance, and so on—over 600 items, everything related to the life and livelihood of every person in this country, all added together, is 10 trillion.

And then this "new quality productive forces" infrastructure is just a piece of shit, costing 7 trillion in one year.

Fucking awesome, truly fucking awesome. If this country doesn't die, I'll be damned. If it doesn't play itself to death, I'll be fucking damned.

And just as I mentioned last time, why is this kind of large-scale infrastructure, specifically computing power infrastructure, so poor? The efficiency is extremely low. Because in reality, computing power infrastructure has a foundation: the computing power system requires building a model. This is a particularly difficult requirement in high-tech fields, regardless of whether it is for enterprises, small businesses, large institutions, or the state. Only after this model is built and the architecture is established does it involve infrastructure and procurement.

However, in the entire People's Republic of China, there cannot be more than 10 qualified teams capable of creating this kind of computing power architecture. It is impossible. Because the group I worked for back in the day was a technology company with over 2,000 computer personnel and software engineers, and that is exactly what we did. You have to understand the processes, models, and requirements of all relevant government departments, and you have to understand the functions used by all digital products, and then, after being clear about both, fully integrate them to build and design the entire framework model.

Where is the difficulty? Among those who understand technical applications, how many can understand the government? Among those who understand the government, who the fuck could possibly understand technology? Moreover, within the government, where the fuck are you going to find people who understand the operations of all these various sectors and can also build a model? It is simply impossible.

How difficult is this challenge? It is a global challenge. Does everyone remember when Trump was first elected and took office, and Musk tried to use technical means to solve government problems with a group of people? What was the final result? They returned in defeat. Looking at it now, we haven't seen any results, have we? Do you think it's easy for a technical team to solve government problems and build an architecture? Musk couldn't solve it, but the CCP did, because they have money.

So what to do? It's simple: don't build the architecture. Just use the main funds for procurement and infrastructure. Build this thing? What are you buying it for? It doesn't matter, because the point is just to spend the money. After spending it, who has the conditions to maintain and use it? You don't even know how to use it.

On top of that, the obsolescence rate of digital hardware is very high; in two to three years, much of the hardware becomes outdated. If there is also localization, and the manufacturers or suppliers go bankrupt, what remains is a pile of garbage. We have already clearly seen that the DeepSeek all-in-one machines bought with so much funding in 2025, purchased everywhere across China, are now all gathering dust in warehouses. No one is using this stuff. What is it for? Who knows how to use it? Nobody knows.

But we see something very strange: the economy is collapsing rapidly, yet anyone who isn't a total idiot would realize you've spent so much money and turned the country into this state. You publicly stated that when you took office, the total debt was only over 10 trillion; I forgot how much it was when Xi Jinping took office in 2013, over 10 trillion in debt, and now you've played it up to over 100 trillion, from over 10 trillion to over 100 trillion. You've done such a fucking amazing job, turning the country into this, that anyone with even a shred of self-awareness should proceed with caution. But what happened? Even in this state, they are still acting boldly and seeking new paths.

Everyone remember a phrase: "The ignorant are fearless." Is Xi Jinping a typical representative? The ignorant are fearless. He doesn't understand anything. Look at all his design fields; do you think he understands "new quality productive forces"? Do you think he understands chips? Do you think he understands supply chain reform? Do you think he understands internal circulation? He doesn't understand anything. He doesn't understand, yet he makes decisions on a whim. PPP, P2P, characteristic towns—he doesn't understand anything, but he dares to do everything.

Now that the country is in this state, he still wants 7 trillion, and it's all borrowed. This 7 trillion is all borrowed; it's all government debt. So for those of you who want the CCP to live a long time, it's hard to help you realize that wish. Because I think, standing on our side, those who want to bring down the CCP, there is one core force: the idiot Xi Jinping. Every day he thinks about bringing the CCP closer to its death.

In the one year and five months of 2025 and 2026, 30 generals were either arrested, disappeared, gone, or retired early, accounting for over 90% of the CCP's entire team of generals. That is fucking amazing. I think this person is truly a god-like figure. For those of you who can't defeat them and want the CCP to collapse, the most core helper is Xi Jinping. He will not stop until he kills China and kills the Chinese Communist Party.

Of course, the first thing everyone knows is: are the rising PPI and the increase in profits for industrial enterprises above designated size actually good news? Or is it just courting death? But in this process, the common people are still going to suffer.

Because I think the CCP has reached a very crazy stage. As I told you last time, in a 16-month period, they issued more than one policy every month for one purpose: to exploit the common people and squeeze money from society. They are short of money here, so they have to spend even if they have to borrow; they are short of money there, so they exploit the common people to death and squeeze out their wealth.

May was the same; another policy has already been issued, which I mentioned last time but didn't cover fully. A new policy has been issued. On May 27, under the orders of the CCP, Hong Kong financial regulators issued a notice. Of course, this one is slightly better; it's not aimed at all the common people in China, but at a portion of the wealthy.

What does this mean? Mainland residents opening investment accounts in Hong Kong now face three new regulatory measures. As you often mention and frequently ask me, is it safe to put money in Hong Kong banks, and what is the situation like in Hong Kong? The retrospective check on account openings starts from January 1, 2023, and under special circumstances, it may be pushed even further back. If so, there is no end in sight, and no one knows how far back they will investigate.

Superficially, the Hong Kong Monetary Authority is doing this to strengthen anti-money laundering efforts in Hong Kong by adding some measures, which sounds very much like a normal policy tool. However, two super-abnormal points caused everyone in the financial circles to explode the moment this action came out. Why the explosion? This is a quintessential market manipulation act by the Chinese Communist Party (CCP), giving it the power to arbitrarily wipe out the money of all investors in Hong Kong.

Where are these two very abnormal things? Why is this abnormal? As the saying goes, insiders watch the methodology, while outsiders just watch the spectacle; outsiders cannot understand it. An outsider looks at this and thinks, isn't this monitoring money laundering? An insider takes a look and immediately realizes something is wrong.

Where is the first abnormality? When such an event occurs, according to international practice, if it is about anti-money laundering, and if a massive number of Mainland users are opening investment accounts in Hong Kong and transferring huge amounts of investment over there, this issue is no longer an individualized problem, but a systemic one. In other words, a systemic loophole has appeared. Without a systemic loophole, how could a massive number of Mainland users be able to transfer funds to Hong Kong in various ways—not complying with regulations or standards—to open investment accounts and make investments?

Under such circumstances, when auditing all similar financial issues, the primary targets of a crackdown should be all intermediary departments: internal compliance audit departments of banks, account managers, intermediary agencies, notarization law firms, accounting firms, company registration institutions, and so on. They must all be cracked down on first, because only by cutting off their supply chain can you target the relevant users. Because such a large-scale influx of non-compliant users opening accounts and transferring funds into Hong Kong must consist of batch professional facilitators, systemic channels, and internal tacit approval working together. Therefore, eliminating the intermediate links is the only way to prevent such things from happening.

Some friends may not understand finance. You can look at Southeast Asian countries like Thailand and Vietnam recently, where people use illegal means, such as obtaining passports and long-term visas. Look at the news: whenever someone is found to have obtained an identity stealthily, the government immediately investigates who helped them obtain it, where the channels are, and which departments are involved. Choking this off prevents similar things from happening in the future. You see this in the news all the time.

But this time is very interesting. As someone who has worked in finance for over 30 years, I can responsibly tell you that I have never encountered such a large-scale investment by Mainland users in Hong Kong where intermediaries are completely ignored and only end-users are investigated. I have never seen it, and I have never even heard of it. Therefore, it is extremely rare globally. I even asked AI to verify it, and indeed, it is globally rare. No one does it this way; you must investigate the intermediaries, you do not operate like this.

Then what is the only reason I can think of? It is that the CCP wants the money here, but back then, this intermediary activity must have been tacitly approved or promoted by the CCP to encourage you to invest. Therefore, this matter must involve a large number of domestic Mainland banks, brokerages, regulatory departments, and even leaders of relevant departments, which is why they cannot be investigated. Because this matter was driven by the CCP.

There could be many reasons for doing this. The biggest possibility is that because the CCP unilaterally tore up the One Country, Two Systems framework in recent years, a huge amount of finance and capital fled Hong Kong in a very short time, and even many government officials left, instantly leaving Hong Kong desolate. The CCP must have been worried that Hong Kong would collapse rapidly at that time, so it took some measures. On one hand, it allowed Hong Kong to heavily import Mainland personnel, dropping the threshold for the Hong Kong Talent Admission Scheme down to the floor so anyone could be a talent. On the other hand, it tacitly approved Mainland residents to open accounts in Hong Kong, pumping massive funds in to revive the Hong Kong investment market. Therefore, all these things were either tacitly approved or promoted by the CCP, which seemingly revived Hong Kong a bit and helped it weather the biggest difficulties of the past few years.

So the mastermind behind this is the CCP. But the CCP has been so strapped for cash in the past two years that it set its sights on these people. Even though the mastermind was the CCP, the action itself violated regulations or even laws, meaning these funds belong to non-compliant and illegal capital, and can therefore be utilized. So the CCP is essentially playing a trick to get all these problematic funds into its own hands.

There is no other way. That is why not investigating the intermediaries is considered rare internationally. Without investigating the intermediaries, they go straight for the end-users. After the end-users are investigated, their funds are detained.

The second abnormality is that in this latest notice, the fund detention is called what? Account closure. Why close them just like that? These are the exact words: if a client's source of funds is found to be illegal, close their investment account. You can still understand this one, since the source is illegal. Alright, what if it is discovered that they “violate any capital control regulations of the Chinese Mainland”——my goodness, everyone think about it, there are so many capital control regulations in the Chinese Mainland, that would mean 100% of them are illegal.

How many people went through normal procedures with the State Administration of Foreign Exchange and obtained approval in Hong Kong before injecting funds? Did you hear that clearly? This time it is called violating any capital control regulations of the Chinese Mainland, which is utterly ruthless.

What is even more vicious? It is called closing their bank investment accounts. But how will they close them? How will the book funds be handled after closure? How can they appeal? There is no explanation whatsoever. This is once again extremely rare: they only talk about closure, without explaining any specific details on how the funds will ultimately be disposed of.

What is the financial term for this internationally? It is called discretionary power. Once discretionary power is involved, what does it mean? It means the rules are unclear, decided by human intervention, arbitrary, and determined by individuals. If they say you are breaking the law, you are breaking the law; if they say they are confiscating, they confiscate. This is called discretionary power. Remember, once this term appears in the financial sector, it signals huge risks.

Under normal circumstances, countries around the world that aspire to be financial hubs would, upon encountering such situations, adopt different closure methods based on different circumstances. Whether it is a deadline to transfer funds, whether funds are temporarily frozen, what documents are needed, how to appeal, or confirming illegal or criminal funds for long-term freezing, etc. All people from the CCP-controlled country are very clear, as I just mentioned, that domestic funds go through the normal State Administration of Foreign Exchange, and even require approval from the Ministry of Commerce to open an account in Hong Kong. It is impossible for anyone to do this; it cannot be done.

So now, it is discretionary power again. All of it is considered illegal or non-compliant funds. Immediately after, the Hong Kong Monetary Authority (HKMA) wrote this time that every single transaction must be able to fully trace the original proof of legality. Can you prove it? Can you prove it?

Discretionary power combined with the requirement that every single transaction must be fully traceable to its original proof of legality—that is fucking impressive. Because these two points combined contradict the two natural attributes of a free financial market. What attributes? Predictability and exitability.

With discretionary power, you don't know what to expect; it is unpredictable, and you don't know how they will act. Closing accounts locks everything down, making it impossible to exit. Therefore, financial markets around the world, in order to attract clients, try their best to write rules clearly. Like this HKMA notice, it is written so vaguely—what funds will be frozen, under what circumstances accounts will just be closed, under what circumstances funds can be transferred, when one will be investigated, how to appeal, how to handle it—none of it is written. Discretionary power. I have never seen this, I really have never seen this.

Therefore, the financial market can only make the worst-case assumptions. Because financial markets are most sensitive to instability and uncertainty; it is directly about money.

So why is this HKMA notice very abnormal this time? It brings about the spread of panic in the Hong Kong financial market, potentially leading to bank runs, large-scale capital flight, and a collapse of credit. This is certainly not something the HKMA would want to do. After all, Hong Kong is still considered a famous international financial market to this day, and the most important thing is to gain the trust of international capital; it needs to be stable, not arbitrary.

But why do it anyway? It must be because of the CCP's political needs—they are in such desperate need of money that they demand the language be made very vague, so they can lock everyone's money down and get as much of everyone's money into their own pockets as possible. Although doing this causes the greatest damage to the Hong Kong financial market, it allows the CCP to take all these funds, even 100% of the investment capital, for itself, achieving the best possible result. This is likely what the CCP needs to do most.

It is a choice to conduct anti-money laundering against a massive number of non-compliant clients without checking the channels at all; it is a notice using discretionary power to close investment accounts for those whose source of funds is found to be illegal or in violation of any CCP domestic capital control regulations. Then, they can easily harvest all the people who opened accounts in Hong Kong to invest with beautiful dreams back then, like cutting leeks all at once.

Think about it, how contradictory is the CCP? A political party that makes itself inevitably collapse. It can't do anything in the economy, has no core pillars, yet it still has to throw away 7 trillion, busy throwing money into the water. Because it is so crazily short of money, it has even sacrificed the Hong Kong brand; it doesn't care at all how much damage this behavior does to the brand of Hong Kong as an international free financial port, as long as the money is recovered.

With such a party, it should be considered mentally ill and in the terminal stage of cancer, right? Otherwise, how could they do such a thing? We just can't imagine it.

You say the RMB is getting stronger? Let's not talk about the RMB. Aside from the RMB, let me ask you, isn't the fundamental value of currency based on value standards, value scales, and exchange bases? What is behind it? It is called credit.

In a country's currency, if you are not allowed to withdraw money freely—you have to provide proof to withdraw money, and you have to go to the police station; if you are not allowed to move and use it freely; if you want to exchange for foreign currency, you need a pile of proof, and if you don't have relevant proof for more than 5,000 yuan, they used to freeze your account after you finished exchanging. Is this fucking currency?

Many people talk to me about the RMB, and I find it quite funny. Find me another country in the world—the Soviet Union has already collapsed—find me another country where, after you deposit your own money in the bank, you can't use it, can't transfer it, can't exchange it for other money, can't do this, can't do that, and you call this currency?

Currency in the whole world, I repeat, is based on credit, is an exchange basis, a value scale, and only when it circulates freely is it called currency. That thing in the CCP-controlled country can't even circulate, can't be withdrawn, can't be deposited, it's all controlled, and they take it whenever they want. Can you call this currency? Try exchanging it for US dollars yourself, then come talk to me. Don't be fooled by so much CCP propaganda; be a person, go compare, and look at it through the fundamental attributes of currency.

Alright, due to time constraints, that is all for today. Today's topic is Huawei, and why Huawei has become a maggot.

In the last live stream, many people talked to me about Huawei's "Tao Law" innovation, saying how awesome it is. I gave a simple answer and talked to everyone about it. I didn't expect so many people to ask me about this later, so I will talk about it in detail.

Huawei is quite a rare company; this is the second time I am talking about it. I talked about this company once, about three years ago, and back then I defined Huawei as a vulture. Vultures feed on corpses. I suppose you've seen that video? Feeding on corpses. At that time, I explained Huawei's own operational model and system very clearly, so I won't repeat it. But regarding this matter of the "tau law" (τ Layer), Huawei has evolved from a vulture into a maggot.

What do maggots do? They hatch flies and spread viruses.

Many Chinese people, I have to say, are fools. They think that Huawei, at this IEEE—the Institute of Electrical and Electronics Engineers, one of the world's most authoritative and largest engineering and technical professional organizations—announced at this international conference that it has created the "tau law" (τ Layer), which is the core law of the post-Moore era. This matter is of great significance to humanity.

How rotten Huawei is, we've already discussed: white gloves and so on, I won't repeat it. It everywhere relies on forgery, fraud, and technology espionage to make a profit. I am just talking about this "tau" thing. Of course, some of you still treat such a company as a technical benchmark enterprise, and I don't know what to say.

Last time I talked about its theft of BBK's technology; that was the work of a vulture. Today I am talking about its act as a maggot.

Why do people still approve of Huawei? Because many people in the Chinese Communist Party's country, especially Little Pinks, facing increasingly miserable days, have self-esteem that has surpassed their awareness of the truth. They cannot accept that Huawei, which is riding high in the CCP's country, is actually a massive liar and a terribly rotten enterprise. Well, I can understand your feelings. Pitiful people must have hateful aspects, after all.

As you watch the People's Republic of China rapidly collapsing day by day, as you watch this traffic accident—what was it, in Shenzhen, a young man crashing and killing over a dozen people—you simply refuse to admit it. Watching China decline, you just refuse to admit it. I quite understand, but this is an extremely stupid behavior. It is just that rotten, regardless of the country or these enterprises.

All domestic experts and scholars in China talking about the τ Layer, including Taiwan's Lawrence Lau (Lang Xianping), are talking complete nonsense, not a single human word among them. I have a habit of presenting facts and reasoning. When I say they are talking nonsense, they don't even have room to refute me. Because I am used to presenting facts and reasoning, it is irrefutable.

Let me tell you all where the ugly nature of this scam lies.

According to all international customs for announcing technological achievements—let alone announcing a law, even when announcing a technological achievement at a conference of the IEEE's level—what must you do simultaneously when you say it with your mouth? At the very least, you must publish relevant papers on the IEEE's official preprint platform. This platform is specifically for hosting papers. When you talk about it here, when you announce this thing, and you have no details, no papers, just running your mouths babbling away, how on earth are people supposed to know what it is based on the brief text you announced?

This is convention. Ever since the IEEE platform has existed, all announcements of technology on the platform have been accompanied by papers. Let alone the fact that what Huawei HiSilicon announced this time is not a simple theory; it is called a "new law approaching Moore's law." Moore's law is no longer working, and the τ Layer will henceforth be the new law guiding technological thinking.

The magical thing is that, including the IEEE, all authoritative scientific and technological institutions worldwide, on the official operating platforms of all scientific and technological institutions or organizations, you cannot find any papers related to the τ Layer published by Huawei or Huawei-related institutions. You cannot see it; it doesn't exist. There is nothing related; let alone papers on the τ Layer itself, you can't even find the word τ Layer anywhere.

What is the only thing that can be linked to this technology from Huawei? On the preprint platform of the Chinese Academy of Sciences in the People's Republic of China, there is a publication by Huawei called Time Scaling Theory, or Time Stamp Theory. This was found only after a lot of careful searching with the help of many AIs.

Time Scaling Theory. First of all, this "Time Scaling Theory" is a theory. In the global scientific research field, a theory is in a completely different league from a law. What is a law? A law is a rule that has been verified over the long term and stably by the global scientific and technological community, and can be universally and repeatedly applied. For example, Moore's Law, Ohm's Law, laws of thermodynamics. Then what is a theory? It is an explanatory framework or methodological system for a phenomenon, representing merely a certain value and engineering significance, but it is very far from a law. Do you understand? The difference between a theory and a law is that ten thousand theories may never become a law, and ten thousand theories cannot form a single law.

Therefore, the only thing that can be found related to the τ Layer announced by Huawei at this IEEE conference is just this piece of trash. The most basic preprint platform, everywhere officially in the world, you can't find it; you can only find a related paper inside the CCP's country, and it's not even a law.

By this point, do you think it is already absurd enough? On one side, they hype it up infinitely as a world wonder, claiming it is a law published at the world's most authoritative international academic conference; on the other side, even on preprint platforms, they could only find a single related paper in the Chinese Communist Party's country, and it wasn't even about law. They told the outside world they created a car with super hyped-up propaganda, only to find out you just made a tire. You ask what the difference is? Making a tire is fine too.

Even more miraculously, according to international practice, since Huawei created this theory, it should normally just use the name, calling it the Time Scaling Theory. But Huawei didn't do that; it used the Greek letter $\tau$ instead. This Greek letter, which looks somewhat like a capital English T, was used as a substitute.

The letter $\tau$ is a standard mathematics and engineering symbol, typically used to represent time constants, delay scales, time scales, decay periods, and so on. If Huawei wanted simplicity, wouldn't it just be done by calling it Time? No, it used the Greek letter $\tau$ as a substitute. This barely passes, of course; creating a theory and calling it a law is already rogue behavior. But regarding the symbol $\tau$, it barely fits because international practice allows a single letter to represent a certain technical meaning.

Next, Huawei did another world-miraculous thing. Again, something no one else in the entire technological community of humanity has ever done. The first thing I mentioned that has never been done is publishing a so-called law at such a major conference without even having a basic supporting paper. The second thing is that it changed the character $\tau$ into the Chinese character "tao"—the "tao" from strategic planning (韬略), the "tao" from biding one's time (韬光养晦). In its Chinese propaganda, it is called the "Tao Law" (掏定律).

Holy shit, another world miracle. The entire global science and technology sector has never seen such a thing. What is this for? This is a textbook market maneuver. What does this maneuver do? After all, there are over a dozen domestic and foreign listed companies related to the Huawei brand, most of them within China. By creating a "Tao Law" and linking it to Chinese concepts like "strategic planning" and "biding time," wouldn't all those listed companies benefit?

I believe this is the first time you've ever heard of the "Tao Law," right? Have you ever heard of the Alpha Revolution? Have you heard of the Beta Law? The Gamma Revolution? The Omega Evolution? Have you ever heard of them? I'm speaking Chinese.

In the scientific field, a symbol is just a mark, a notation; it cannot be the conceptual entity itself. Therefore, Huawei turned this mere symbol into a Chinese character and then conducted massive implicit propaganda, filling the character "tao" with the momentum of the Chinese Communist Party and a space for national narrative. The $\tau$ layer, for which not even a basic paper can be found, was thus manufactured by Huawei. Fucking awesome.

Donning a national cloak, it began swaggering and swindling under the guise of an original CCP creation in the post-Moore era. Such things can currently only happen in the People's Republic of China anywhere in the world. Not even countries like India, Cambodia, or the Philippines would see such occurrences. Because even in those countries, relevant laws have strict restrictions and management regarding such behavior, with very serious consequences.

In all countries around the world, especially developed countries, the laws regarding such behavior are truly severe. Whether a company, a team, or an individual invents a technology—regardless of whether it's called a new law or a new theory—and then claims it is recognized by some famous international institution, such as publishing at an IEEE conference to imply an industrial breakthrough, but in reality, it has not undergone any authoritative industry peer review, lacks any international authoritative paper chain, and then maps this to companies, organizations, and individuals related to you for commercial profit, it is a criminal act and a criminal offense everywhere in the world, a typical crime.

In other words, using something far-fetched to allow a string of related institutions to achieve commercial profit is a criminal offense. You have the opportunity to use AI to ask: put the kind of behavior I just described into it, and see how many companies the U.S. Securities and Exchange Commission handles for securities fraud every year. The individuals and founders related to the company are criminals and all go to prison. Logically, it is defined as clear fraud. Because you did not have international authoritative institutions recognize the so-called technological breakthrough according to procedures and standards, you don't even have basic papers, and yet you can bring related benefits to your affiliated institutions—this is standard fraud.

You say, what is Huawei doing by pulling this stunt? Have they figured it out themselves? Everyone sees it clearly. Otherwise, it couldn't possibly be missing. I'm telling you, it's all world miracles. Then why does Huawei dare to do it? Because it is a white-glove enterprise in the CCP's country; it is synonymous with the Chinese Communist Party. In the CCP's country where power surpasses the law, it doesn't matter what kind of fraud it commits. Moreover, committing fraud like this can also "boost our national prestige" and "exalt our military might"; the mastermind behind such fraud might not even be Ren Zhengfei, it could even be Xi Jinping telling you to do it.

Therefore, for people in the CCP's country who still treat Huawei's fraudulent behavior as a great technological glory, calling you big fools and stupid pigs is not going too far at all. The language is crude, but the logic is sound. Why not just ask domestic Doubao or DeepSeek? Does this thing have genuine innovation? You don't even need to dig as deep as I did; you just need to ask whether it has genuine innovation in technology. If its domestic AIs all tell you there is no innovation, then you can think about it.

I suppose there are still Chinese people saying that maybe Huawei doesn't want to publish papers in the future. I don't want to talk to such people anymore. You can't wake up someone who is pretending to be asleep. They are super big fools, and I cannot save them.

So why doesn't it dare to write academic papers? Let me tell you again. You say it's a scam, so why not make it look a bit more polished? Wouldn't it be enough to write a bunch of papers and post them on international platforms? Sorry, they still can't write them. Just think about it: if its scam can be exposed by someone like me who only has a rudimentary grasp of technology, how could it possibly write these papers?

Because when it comes to the so-called τ Layer, Huawei doesn't have a single chance to write a paper. All the so-called new concepts that Huawei uses in this theory are already being worked on by a massive number of tech companies worldwide. The ones that started early have been doing it for over 20 years, and the shorter ones for over a decade. The core elements of its theory are super mature in the hands of others.

What is the core of the τ Layer? Stacking, 3D packaging, Chiplet, and so on. Sony started doing CMOS image sensor stacking more than ten years ago, along with TSV (Through-Silicon Via), backside-illuminated stacking, and more. Many famous institutions are working on various modes of chip stacking. Companies like Intel, TSMC, and Samsung have been engaging in Chiplet technology for over a decade, not to mention HBM packaging, 2.5D, and 3D architectures.

What is the core stuff of the τ Law? Over a decade ago, it was already an open technical route globally—old stuff. And what do you call the concept of fusing all these things together? Hybrid bonding technology. This is the core implementation logic of the τ Layer, the critical technology of stacking. Unfortunately, this technology, EMIB, is a patent that was already registered by Intel back in 2008.

Do you understand why they can't write papers now? It's because everything Huawei talks about regarding this technology has already been used by foreign entities—some for over 20 years, and others for more than a decade. International tech companies call this kind of thing an engineering evolutionary behavior; it's just an iteration, an idea for the evolution of Moore's Law. Therefore, no tech company considers this to be an engineering revolution or a comprehensive breakthrough that supplements Moore's Law. Nobody thinks that.

In the international technology field, making this kind of engineering evolution and technological progress is very common. Let me ask you all: suppose there's a place with many one- or two-story low-rise buildings, and blueprints for seven- or eight-story high-rises already exist. Suddenly, some fucking idiot says: "Look, so many people live in these one- and two-story buildings, how tiring! We can build three- or four-story buildings to solve the housing problem. My idea is a world wonder, a bullshit founding Law, a technological revolution." Do you think that person is an idiot? The blueprints for seven- or eight-story buildings have been sitting there for over a decade.

So, if you are interested in the technological thinking of the "tau law" and feel that what Lao Zhai says is unreliable, not professional, and might not be accurate, that's fine. Go and check out the well-known global chip analyst E.N. Ketteris and his critique of Huawei's so-called technological innovation on his blog. Foreigners are very modest; they call it questioning, a lengthy questioning that refutes it thoroughly. It basically reduces what Huawei talks about to absolute shit. Just go take a look. He is an absolute technical expert.

This is why when a reporter asked Nvidia CEO Jensen Huang what he thought of Huawei's "tau law revolution," his answer was so precise: this thing is a breakthrough for Huawei, but it's not a threat to Nvidia.

That was too subtle. What is the simple implication? Nvidia was doing this stuff over ten years ago. Are you saying this has anything to do with me? Why are you telling me about something I was doing N years ago? But it is a breakthrough for Huawei because Huawei is too low-end and too fucking stupid, so to them, it's a breakthrough. It's not a threat to Nvidia because the technology is too outdated.

Real tech companies in the global technology sector never equate technological optimization with a technological revolution. They are so different—completely different attributes of problems. They would never link the evolution of process thinking with a breakthrough in basic science. Basic science is so awesome, like laws. What they have is process thinking; you make an evolution—what the fuck is that? Even less would they link a company's technological data progress to the rejuvenation of national culture.

Therefore, apart from a fucking idiotic political party and rogue regime like the People's Republic of China, and apart from an idiotic enterprise like Huawei—which is fucking not a tech company, but a CCP political institution wearing a tech cloak, tasked not with scientific research missions, but with political propaganda missions—they just take mature technology that existed internationally a decade or even decades ago and give it a new name.

I've said it before, go and check E.N. Ketteris's evaluation. It tells you how many things in Huawei's theory were patented by other companies many years ago, and the content is even more extensive and comprehensive than what Huawei claims. Just go take a look and you'll know.

Why do they do this? Because the citizens of the People's Republic of China are all fucking idiots. Why does China Central Television broadcast news at a fourth-grade level? Because the cultural level and knowledge innovation ability of Chinese people are just at the fourth-grade primary school level. There are particularly many people who don't seek to understand things deeply and are willing to be deceived. So when old technologies from the past are rebranded with names like "super-law," "super-node," "super-fusion," "Xuanwu architecture," "HarmonyOS ecosystem," or "Pangu large model," and redefined and propagandized, Chinese people get excited over things that others have already fully figured out.

Look at the fucking state of HarmonyOS, look at the fucking state of 5G—the power consumption is so high, the battery drain is so severe, what kind of improvement is that? So, they can deceive people like Xi Jinping, a primary school student, and make the masses below so excited, as if they've been injected with adrenaline. But at its core, it's just a scam, pure and simple.

So, Huawei just pulled a scam this time. Why don't they dare to publish papers? Because a paper would be plagiarism, and they'd get caught. They take someone else's concepts and use their mouths to happily package it as a brand. This is just like when they made fake chips back in the day, but the fake chips got exposed. So Huawei is smarter than those fake chips; they don't do fake papers, but essentially, it's the same old wine in a new bottle.

I'll just say this much. Those who understand, understand; those who don't, I can't explain it to them either.

Huawei is expensive; I can't afford it. If you buy Huawei, I don't know what to say to you. If you are willing to keep a spy by your side and are still willing to spend so much money, then I won't even talk about what kind of person you are.

What this so-called law involves is just the engineering evolution of a technological iteration. International big companies have been doing this for over a decade, forming a massive number of patents. If a paper were published, the international academic community would see the real evidence of plagiarism. Mockery? It would be total mockery. Huawei is very smart—the smartness of a con artist—they only talk about it and leave no written evidence of their actual fraud and deception. But in essence, they are just taking the sugarcane residue that others have chewed for over a decade, giving it a Chinese name, and making everyone in the CCP, from Xi Jinping down to the Little Pinks, act like they've been injected with adrenaline.

In such a large country, aren't there any experts or scholars who can use AI to ask: Can this thing from Huawei be called a law? Is your technical content internationally original? Just asking would expose the truth. No need to ask. They are all just getting high on their own supply. There is no law in the CCP's China; power is above the law, and that's how Huawei operates.

So, Goldman Sachs—that fucking investment bank, I forget if it was Goldman Sachs—said they invested in several listed companies in China over the past few years and lost everything. They deserve it. Investing in Chinese listed companies while using the logic of Western democratic countries to think about the CCP, this rogue dictatorial party, and investing in this environment—it's a miracle if you don't die. So back then, if it was Goldman Sachs, they should investigate. The investment bank personnel who played a key role in investing in CCP China's listed companies must have taken kickbacks. According to the CCP's infiltration warfare and unrestricted warfare, they definitely took kickbacks, and they extensively and complexly targeted decision-makers, which is why they invested in China, knowing it was a death trap.

Huawei, on the other hand, has evolved. It used to be a vulture, feeding on human blood buns, just like the BBK case, taking other people's things as their own. Now it has turned into a maggot. The "Tao Law" scam has turned the shallow scam of "leading the way" into a fully packaged, brand-new scam. Like maggots, they work hard to hatch a large number of flies that spread the CCP's germs, brainwashing and instilling viruses into the entire population, making the entire Chinese nation's Little Pinks blindly confident and self-intoxicated, letting these Little Pinks, who have been exploited by the CCP until they don't even have their underwear left, get high until they die.

"Tao Law," that piece of shit, yet so many technical experts and industry leaders in the CCP's China have come out to praise it. So this country is truly toxic. And how did the CCP's media interpret Jensen Huang's evaluation of the "Tao Law"? "What Mr. Huang meant is that Huawei has made important innovations, and NVIDIA hasn't." I am truly amazed. He said it's a breakthrough for Huawei, not a threat to NVIDIA—that's a modest way of putting it. What he wanted to say is that Huawei is fucking stupid, so it's a breakthrough for them; it's not a threat to NVIDIA because the technology is too obsolete. How can this be interpreted as Huawei making important innovations that NVIDIA hasn't? This media is also toxic; this country is just toxic.

Clear enough now? I've talked long enough, right? Know the what, know the why, draw inferences, and master the subject. I also hope that everyone watching my videos, for example, knows how to analyze technical issues today. Look for papers, do you understand? Look for papers. How to analyze technical issues? If you all learn this, I will be satisfied, and they won't be able to scam you anymore.

As for maggots like Huawei, besides being somewhat useful for poisoning the CCP's public, such a company is truly useless in terms of technology.

Gold is fine, it's surging. Gold is for hedging risks; I've been saying this for years. What do you like that's surging? Don't ask me, buy it yourself; I don't know what will surge. Gold is for hedging risks.

Any other questions? If it's too professional and you don't understand, then don't listen; don't listen next time, why waste time? The gaokao is a scam; I'll tell you next time. I've already talked about it; I've actually talked about the gaokao many times. The gaokao is a scam. Just look at why the students who graduated from the gaokao are now being sent to vocational technical schools all over the country. I've talked about it. Isn't the gaokao a scam? If not, why are the students who graduated from the gaokao being sent to vocational technical schools on a massive scale, and they are all full-time, paying thousands of yuan a year? Shouldn't you be able to get a job after finishing the gaokao?

Am I professional? Was what I said just now about Huawei professional? I myself have never considered myself professional. How clearly I speak. Everything I talk about is everyday common sense—that is, if you want to promote a theory, you need supporting papers to appear. If you can't see the papers, isn't there something wrong with that? Second, you call it a Law; it's a principle. What you are doing yourself is a Theory; you are doing theory, not the same kind of thing. And then the word "pocket" cannot be quoted like that either. What I talk about doesn't seem to have any technical complexity, shouldn't be complicated, right?

People in China are always like this. From now on, if it's not your own money, stop meddling, okay? It hasn't been a few days, spreading membership-side investments. That nationwide 0.5 million dining thing, that company with dozens of employees, now it turns out there are 23, right, exposed with 23 people real-name reporting that after eating they didn't pay, all said they didn't receive it, and then gave the courier a bad review. Do you know about that matter? It's said there are 0.5 million reposts worldwide.

Why aren't they all the same? This country and nation have no belief.

What is the problem with the Chinese Communist Party (CCP)? Originally I said next time, I'd just say a few words, actually you all understand. Why is Iran so rotten, and this country can still hold on temporarily? It has belief, religion. Did you understand? Religion. Russia is the same, why was it able to undergo a peaceful evolution back then? The Russian Orthodox Church, religion.

This world is very magical, you will find that any country with a belief, even if it has done particularly bad things, like Germany and so on, and encountered particularly big problems, when it is collapsing itself, can still leave something behind.

CCP China is different. CCP China had many things happen back then because they believed in Mao Zedong. Although they didn't believe in anything, back then the manufacturing of the cult of personality made a bunch of people believe in Mao Zedong. After that fucking idiot Xi Jinping came to power, he also wanted to play the same thing, and as a result, playing and playing, he messed it up. Now CCP China has become a country where no one in the entire CCP China has any belief. This is hugely terrifying in the whole world.

You can ask artificial intelligence, without even mentioning China's name. What happens to a country if it lacks a foundational belief and encounters a crisis? Why can a large number of countries you see facing crises today still exist? It is all because they have belief. CCP China currently does not have any belief. Because Mao Zedong has already kicked the bucket.

Under this circumstance, if China gets chaotic again, without a single basic anchor, that will be massive chaos. Next time I'll talk to you about chaos, what kinds of situations will lead to massive chaos, with no way out.

Sorry, right now it's just trying to make oneself barely survive. The things underneath the CCP truly have no way out; what they are facing is indeed a problem of having no way out. Because it cannot be maintained.

You should know, recently bridges collapsed, roads broke, buildings tilted, fires, coal mine collapses in various places, dying in car crashes, dying in unlicensed cabs. What does that mean? It means the way this country was built back then exceeded what it ought to look like. According to its average salary and per capita income conditions, it might be about the same as India, but it refuses; it insists on lifting it up to a so-called developed country's donkey dung ball—glossy on the outside—to show Westerners: Look how good China is on the surface.

But it doesn't know that maintaining this thing which exceeds its true height costs a huge amount of money; manpower, material resources, and money all have to be spent. It cannot be maintained. India is dirty, its ditch stays dirty and it stays dirty all the time, the maintenance cost is low. You here want to make it clean, want to make it have no accidents, want to make all kinds of things good, and its maintenance cost is very high.

Where is the CCP's difficult problem? It has no money to maintain. In the past, with so many illegal workers in the mining industry, they would also be discovered because there were people supervising. Now there is no money, the government removes regulatory departments, lays off staff, and no one cares. In the past, unlicensed cars were the same, there was regulation. Now there is no one regulating. In the next step, a large number of problems will appear, and problems that began appearing since the Cultural Revolution will appear again.

Once the CCP gets chaotic, what is the strategy it adopts underneath? Bottom-level operators instantly blacken. You see from the beginning of the Three-Anti and Five-Anti Campaigns, the ones rushing to the front to kill were local ruffians and underworld and semi-underworld forces from the middle and lower classes of society. Then all the way to the Three Years of Great Famine, the Cultural Revolution, and so on, the typical characteristic is that the government uses people at the bottom with lethal capacity to manage those at the bottom, because those without lethal capacity can't manage, making it even more chaotic. But this bunch of people with lethal capacity, the first thing they do is harm the bottom and even lower levels.

It's been done this way since 1949. Because they will feel that their income is not that high, yet they are endowed with relevant power by the government, and the government above does not have enough funds to control the application of their power, so these people will use their power even more desperately to harm their own people. I'll say it again, from 1949 to the present, this thing has happened countless times.

So the CCP is now entering a similar state. It is about to enter a stage where it has to use a large number of personnel with underworld and semi-underworld characteristics to maintain basic social stability. And the method most frequently used by such people is to utilize this thing added to them by the government, ostensibly carrying out maintenance, while actually doing bad things underneath, oppressing the masses, and so on.

Then at this time, what is stirred up below is a counterattack by the masses banding together. Big accidents happen, doesn't matter. Due to time constraints, those who understand understand, those who don't don't. This is what has been repeatedly done from 1949 to the present.

Back then, there was still a belief. No matter how intense the chaos was or how many people died in armed struggles, Mao Zedong could come out and say 'stop fighting,' and it would stop. Even when a military sub-district commander led troops to lay siege, they could be driven back by the armed rebel forces—with rockets, anti-aircraft guns, and tanks all brought out, they could still be repelled. But because there was someone like Mao Zedong, who still carried a bit of belief, people would listen.

It was the lower class harming the lower class and the even lower class. But now, as the economy in the PRC declines and it can no longer sustain such high costs at the top, when they use this lower class to govern the lower class and those even further below, and such chaos ensues, there is no belief, nor is there anyone with any deterrent power whose word carries weight. According to the patterns since 1949, the resulting turmoil will be massive chaos, absolute chaos.

Well, it will be massive chaos. There is no way around it, no way at all.

Are there people around my age who know what I am talking about? Those who are 60 or even older, who lived through the Cultural Revolution, will particularly understand what I mean. So, for those of you saying it won't be chaotic, I don't know what you are thinking.

That is all for today, okay? The Chinese Communist Party (CCP) does not allow all of you to have any belief; it only allows you to believe in Communism. The CCP does not allow any other beliefs. Tens of millions of normal deaths—that's normal. Just look at those years, look at how many people died during the armed struggles back then, and you will know. It was the same during the Cultural Revolution with the big-character posters; look at how many people died, and you will know.

Thank you, everyone. Thank you for spending time listening to my bullshit again. I wish our friends in China a good night's sleep, and may our friends overseas have their wishes come true. Thank you, everyone, thank you, thank you.