Since the day Donald Trump was elected in 2016, we have been told that Russia is at the very top of the list of threats to America. Russia has penetrated our government. Russia threatens our democracy. Russia works tirelessly to subvert our economy and our way of life.

Of course, such claims were a lie, and we're all aware of that now. Russia never had the power or the money to control our government, and there's no evidence they even tried. But that doesn't mean that there was no collusion.

In fact, top leaders in American government and business have been compromised by a foreign power that seeks to undermine our country and our democratic system. It turns out that many of the very people who ranted so hysterically about Russia  were doing precisely what they claimed to decry. They were working on behalf of our chief global rival, the government of China.

The Russia hoax, effectively, was a diversion. It hid something that is not a hoax at all, but is real and threatening to all of us. We're going to spend the foreseeable future reporting on the relationship between America's political and financial elites and the communist government of China that has made many of them very rich.

On Nov. 28, Di Dongsheng, a professor at Renmin University in Beijing, appeared on a Chinese television show about Wall Street and international trade. Like so many in academia in China, Di is a servant of his country's government. This video was deleted from Chinese social media soon after being uploaded, and here's why:

DI DONSHENG (translation): The Trump administration is in a trade war with us, so why can't we fix the Trump administration? Why, between 1992 and 2016, did China and the U.S., use to be able to settle all kinds of issues? No mater what kind of crises we encountered ... things were solved in no time ... We fixed everything in two months. What is the reason? I'm going to throw out something maybe a little bit explosive here. It's just because we have people at the top. At the top of America's core inner circle of power and influence, we have our old friends.

Two different Chinese speakers have confirmed the above translation. This is as close to a smoking gun as we have ever seen.

"We have people at the top. At the top of America's core inner circle of power and influence." According to Di Dongsheng, that has been true for decades.

So who are these people and how many of them work in our media and in our government? Well, Di didn't say precisely. At another point in the program, he described a Chinese agent working as a vice president at, "a top Wall Street financial institution." Di explained that he couldn't say more without making political trouble.

Di did tell his audience that one agent in particular was especially useful, and he goes on at some length about her. He describes her as an American who's lived abroad for many years and is now a Chinese citizen, and this seems to baffle him a little bit. The Chinese government doesn't allow dual citizenship. Why would they? Why would anyone? Di seems pleased that the U.S. government is foolish enough to allow it. He explains that this American agent, who lives at least part of the year in Beijing, helped the Chinese government with a propaganda operation in Washington in 2015, and he goes on to describe that in some detail.

The Obama administration was easy to manipulate, Di suggests. The Chinese had many friends among the Obama people. The problem came when Donald Trump was elected. After that, he says, everything changed.

DI DONGSHENG (translation): For the past 30 years, 40 years, we have been utilizing the core power of the United States ... Since the 1970s, Wall Street had a very strong influence on the domestic and foreign affairs of the United States, so we had a channel to rely on. But the problem is that after 2008, the status of Wall Street has declined, and more importantly, after 2016, Wall Street can't fix Trump. Why? It's very awkward. Trump had a previous soft default issue with Wall Street, so there was a conflict between them. But I won't go into details, I may not have enough time. So during the U.S.-China trade war they [Wall Street] tried to help. And I know that, my friends on the U.S. side told me that they tried to help, but they couldn't do much.

Since the 1970s, Di said, Wall Street has had enormous influence over the way the United States government operates. The Chinese government, he says, has enormous influence on Wall Street, and that arrangement worked very well for a long time.

Then Donald Trump unexpectedly was elected in 2016 and Wall Street was infuriated. "Wall Street can't fix Trump," he said, but they tried. This gives the game away.

If you're wondering why our political class has stood by and allowed the Chinese government to degrade this country and our way of life, stood by as the Chinese government has flooded the United States with deadly opioids that have killed hundreds of thousands of people, stood by as the Chinese government ripped off billions of dollars worth of intellectual property from our companies, there's your answer.

Earlier this year, the chairman of Harvard's chemistry department was arrested for taking $50,000 per month from the Communist Party of China in return for sending secrets and referring top scientists to Beijing. It barely rated as a scandal and you may not even be aware it happened. Why? Because so many are on the take.

In effect, Donald Trump was an impediment to this very lucrative arrangement, and for that reason, Di explains in the video, America's most powerful elites -- and he calls them that -- got to work on electing a new president again:

RATCLIFFE URGES BIDEN TO 'BE HONEST' ABOUT CHINA THREAT

DI DONSHENG (translation): But now we're seeing Biden was elected [laughter]. The traditional elite, the political elite, the establishment, they're very close to Wall Street. So you see that, right? Trump has been saying that Biden's son has some sort of global foundation. Have you noticed that? Who helped him [Biden's son] build the foundations? Got it? There are a lot of deals in all these. [laughter, applause]

Di notes, because the Chinese do pay close attention to what we say here, Donald Trump has complained about Hunter Biden and his ties to the Chinese government. So now you know why you weren't allowed to talk about Hunter Biden's laptop and why big business aligned as one to suppress that story: Because they were implicated in it.

Back in October, we interviewed a man called Tony Bobulinski, because no one else would. Tony Bobulinski was a business partner of the Bidens. Here's what he told us about China:

BOBULINSKI: And in a document that you guys have in -- I think it's been provided to, you know, to the world -- the Chinese referenced that because of their trust in the Biden family, that Chairman Ye and Director Zang are excited about moving forward in this. And in that document, they reference loaning $5 million to the 'BD family' ... The 'BD family' is the Biden family.

CARLSON: What are the implications of this going forward if Joe Biden is elected president, which could very well happen? How does this constrain his ability to deal with China?

BOBULINSKI: Are you asking for my personal --

CARLSON: I am, I'm asking for your opinion as someone who's worked with the Chinese.

BOBULINSKI: So I think Joe Biden and the Biden family are compromised. 

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"I think Joe Biden and the Biden family are compromised."

It looks like Tony Bobulinski was right about that. And it looks like the Bidens are far from the only ones who have been compromised.

This article is adapted from Tucker Carlson's opening monologue on the Dec. 7, 2020 edition of "Tucker Carlson Tonight."