China Crisis
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China Crisis
With the recent revelation that minions of the Chinese politburo have stashed away upwards of 6 trillion USD in Cayman bank accounts isn't it fitting that the nation now seems on the verge of meltdown. Seems like the Chinese economic miracle was nothing more than a carbon copy of the American playbook, lend out trillions of dollars and then never get the money back. In the case of China , however, this grew to a ridiculous total of 23 trillion USD! Basically a sh@t storm is about to unfold and obviously this will engulf Hong Kong and it's property market amongst other things. It's obvious now that this bubble has been blown beyond a reasonable size for far too long and what it reveals is that it was in no way related to economic strength but by an obsessive creation of fake credit by Chinese banks. They loaned out money to corrupt officials who then trotted along to buy Kowloon station properties with cash. In short we have been witness to a spectacle of the most corrupt and fraudulent kind. This is the equal of the sub prime crisis in the US, there the banks were at fault, I would say the Chinese will lay blame with the casino houses too.
The $23 Trillion Credit Bubble In China Is Starting To Collapse ? Global Financial Crisis Next?
The $23 Trillion Credit Bubble In China Is Starting To Collapse ? Global Financial Crisis Next?
Last edited by Threethirty; 25th Jan 2014 at 18:57.
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No Worries, Bank Managers recieving massive Bonuses
Too Big to Fail, Too big to Jail,
With the ability of banks to print or digitize low or no interest loans from fellow banksters, fear not of the collapse.
Mega global banks fined BILLIONS..., ( JP Morgan Chase ), Wells Fargo,
HSBC, Guess what, they stole Trillions. Nice work if you can find it, who wouldn't steal, when you keep the money, payback 3-4% to a helpful governement, keep the rest.
Jaime Dimon, suffers through JP Chase Billions in fines, recieves 20 million USD bonus.
No need to fear we will all be on the hook this Free Money, Global Derivatives, gambled by these banksters. It's not trillions any more, more to the effect of quadrillions.
Yes, unfortunately global implosion coming, The teflon banksters who created the whole mess will buy everything back for pennies on the dollar...
Safe Journies...Sushi
With the ability of banks to print or digitize low or no interest loans from fellow banksters, fear not of the collapse.
Mega global banks fined BILLIONS..., ( JP Morgan Chase ), Wells Fargo,
HSBC, Guess what, they stole Trillions. Nice work if you can find it, who wouldn't steal, when you keep the money, payback 3-4% to a helpful governement, keep the rest.
Jaime Dimon, suffers through JP Chase Billions in fines, recieves 20 million USD bonus.
No need to fear we will all be on the hook this Free Money, Global Derivatives, gambled by these banksters. It's not trillions any more, more to the effect of quadrillions.
Yes, unfortunately global implosion coming, The teflon banksters who created the whole mess will buy everything back for pennies on the dollar...
Safe Journies...Sushi
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Exactly, I've been calling the banksters out on their crimes for years now but in Hong Kong they have far too much of an easy ride, unlike say the UK. Globally they have re-written the rules so that they always win, the new Volcker legislation was an absolute sham after their lawyers had finished with it. Legislation serves mainly to placate an angry public whilst behind the scenes; business as usual.
As an avid reader of Zerohedge; I've been introduced over the years to the tools by which they pervert capatalism. Rehypthocation being one of the more nefarious in their armoury, here "assets" are pledged countless times, in some cases to infinity by numerous counterparties. The original "asset" acts as a catalyst for more and more debt shared by any institution privy to this game of pass the parcel.
Alchemy is alive and well in our modern era but only if you're a banker. The rules are made up to suit the current circumstances, mark to market, when you own the political and legal classes this becomes possible.
The rot doesn't stop here, oh no, we could talk all day long about Libor fixes, FX fixes, Gold and Silver short selling manipulation, interest rate swaps etc etc.
I agree with all of the above, we need more control of our Provident fund, we need to get it out of the hands of the cocaine sniffing barrow boys before we lose it all. More importantly how much of our money is being grabbed by the thieving bar stewards in fees?!
Furious Backlash Forces HSBC To Scrap Large Cash Withdrawal Limit | Zero Hedge
As an avid reader of Zerohedge; I've been introduced over the years to the tools by which they pervert capatalism. Rehypthocation being one of the more nefarious in their armoury, here "assets" are pledged countless times, in some cases to infinity by numerous counterparties. The original "asset" acts as a catalyst for more and more debt shared by any institution privy to this game of pass the parcel.
Alchemy is alive and well in our modern era but only if you're a banker. The rules are made up to suit the current circumstances, mark to market, when you own the political and legal classes this becomes possible.
The rot doesn't stop here, oh no, we could talk all day long about Libor fixes, FX fixes, Gold and Silver short selling manipulation, interest rate swaps etc etc.
I agree with all of the above, we need more control of our Provident fund, we need to get it out of the hands of the cocaine sniffing barrow boys before we lose it all. More importantly how much of our money is being grabbed by the thieving bar stewards in fees?!
Furious Backlash Forces HSBC To Scrap Large Cash Withdrawal Limit | Zero Hedge
Last edited by Threethirty; 26th Jan 2014 at 17:48.
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Surely the politburo members are only following the good old colonial ex-pat model:
- Move to HKG
- Earn a sh!t load of cash
- Move it offshore
- Leave HKG
I'll get me coat.
- Move to HKG
- Earn a sh!t load of cash
- Move it offshore
- Leave HKG
I'll get me coat.
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Dump your Premier account and request the Mexican Drug Lord special:
HSBC pays record $1.9bn fine to settle US money-laundering accusations | Business | theguardian.com
HSBC pays record $1.9bn fine to settle US money-laundering accusations | Business | theguardian.com
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Don't worry.
NONE of these governments has any intention of paying the debt back.
They'll simply inflate the currency, lose control of it, blame someone else, and enjoy the view from their golden parachutes.
Keyensian economics is the economic equivalent of a perpetual motion machine. One never gets something for nothing but this is the way every nation with a fiat currency has been acting for decades.
Playbook's always the same--"Atlas Shrugged" "Ameritopia" or whatever novel one likes.
So be happy and enjoy your life.
NONE of these governments has any intention of paying the debt back.
They'll simply inflate the currency, lose control of it, blame someone else, and enjoy the view from their golden parachutes.
Keyensian economics is the economic equivalent of a perpetual motion machine. One never gets something for nothing but this is the way every nation with a fiat currency has been acting for decades.
Playbook's always the same--"Atlas Shrugged" "Ameritopia" or whatever novel one likes.
So be happy and enjoy your life.
