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US has been exposed for funding last year’s Hong Kong protests

Summary:
The little-known but powerful US Agency for Global Media has financed protesters in the city and helped them with technical support About US million was earmarked for the protest movement in Hong Kong, but has now been frozen as part of a general overhaul and restructuring by a new agency boss. An ally of President Donald Trump, CEO Michael Pack didn’t specifically target the Hong Kong funding, which was apparently caught up in his management overhaul. The restructuring, though, has inadvertently exposed the US funding long denied by local protesters and pan-democrats. According to Time magazine, the held-up funds were to have been distributed by the Washington-based Open Technology Fund (OTF), supposedly an independent non-profit, but financed by the US Congress. One cancelled

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The little-known but powerful US Agency for Global Media has financed protesters in the city and helped them with technical support


About US$2 million was earmarked for the protest movement in Hong Kong, but has now been frozen as part of a general overhaul and restructuring by a new agency boss. An ally of President Donald Trump, CEO Michael Pack didn’t specifically target the Hong Kong funding, which was apparently caught up in his management overhaul. The restructuring, though, has inadvertently exposed the US funding long denied by local protesters and pan-democrats.

According to Time magazine, the held-up funds were to have been distributed by the Washington-based Open Technology Fund (OTF), supposedly an independent non-profit, but financed by the US Congress. One cancelled project was to set up “a cybersecurity incident response team” to provide protesters with “secure communications apps” after analysing “Chinese surveillance techniques”.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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