crazypabs Posted July 20, 2020 Share Posted July 20, 2020 Apologies if already discussed. Apparently the Chinese Banking system is feeling very fragile atm. A Spate of Bank Runs Breaks Out in China, Fueled by Social Media https://www.bloomberg.com/news/articles/2020-07-14/spate-of-china-bank-runs-force-police-regulators-to-act Quote Link to comment Share on other sites More sharing options...
Warlord Posted July 20, 2020 Share Posted July 20, 2020 Fiat systems always end like this . Quote Link to comment Share on other sites More sharing options...
crazypabs Posted July 20, 2020 Author Share Posted July 20, 2020 https://youtu.be/dIjdwkSeXvM?t=499 Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted July 20, 2020 Share Posted July 20, 2020 The banking system is finished as is western capitalism. Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted July 20, 2020 Share Posted July 20, 2020 (edited) This was mentioned in George Galloways TMOATS on Sunday evening. Edited July 20, 2020 by Roman Roady Quote Link to comment Share on other sites More sharing options...
shlomo Posted July 20, 2020 Share Posted July 20, 2020 2 hours ago, crazypabs said: Apologies if already discussed. Apparently the Chinese Banking system is feeling very fragile atm. A Spate of Bank Runs Breaks Out in China, Fueled by Social Media https://www.bloomberg.com/news/articles/2020-07-14/spate-of-china-bank-runs-force-police-regulators-to-act If you Google "China bank runs" most of the media seems to be Bloomberg media, strange that. Quote Link to comment Share on other sites More sharing options...
NuBrit Posted July 20, 2020 Share Posted July 20, 2020 17 minutes ago, Social Justice League said: The banking system is finished as is western capitalism. The Chinese banking system is the largest in the world, and unlike the Western system, it's all state-directed lending. What could possibly go wrong there?. Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted July 20, 2020 Share Posted July 20, 2020 The Chinese might as well just pack it in and go back to the villages. The USA, the UK and Europe don't want their cheap sh1te anymore. I won't be buying anything with the crappy "Made In China" label anyway. Saying that, I won't be buying anything at all from our p1sh hight street, when the 'masks of death' arrives on Friday. I will never go into a shopping centre again. I'll make an execption for the odd supermarket trip in between online orders. That's it. The high street and China can burn in their own golden shower for all I care. Quote Link to comment Share on other sites More sharing options...
A.steve Posted July 20, 2020 Share Posted July 20, 2020 3 hours ago, crazypabs said: A Spate of Bank Runs Breaks Out in China, Fueled by Social Media I always wondered, when I heard that China had imposed a 'lockdown' on ~70 million people, if the reason for this was to prevent bank runs. Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted July 20, 2020 Share Posted July 20, 2020 30 minutes ago, A.steve said: I always wondered, when I heard that China had imposed a 'lockdown' on ~70 million people, if the reason for this was to prevent bank runs. mmmmmmm...interesting slant on the covid situation! Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted July 20, 2020 Share Posted July 20, 2020 And forget going to Chinese takeaways to order butchered Shep Fried Rice. Fook that sh1t. Quote Link to comment Share on other sites More sharing options...
shlomo Posted July 20, 2020 Share Posted July 20, 2020 38 minutes ago, Social Justice League said: And forget going to Chinese takeaways to order butchered Shep Fried Rice. Fook that sh1t. Have you stopped purchasing Chinese take away food? Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted July 21, 2020 Share Posted July 21, 2020 It is strange that we hear so little about the Chinese economy atm. Demand from the West has collapsed, and people are trying to stop buying Chinese garbage (although since just about everything is made in China or has components made in China that is very hard). Given the huge amount debt in the Chinese shadow banking system, it really can only be a matter of time before it implodes. Could this be the biggest domino to fall in the COVID black swan event? Also, I guess the big question is how much the state would be able to stop it? In the West we have the corrupt CBs propping everything up and creating zombie banks (2008) and now zombie corporations (Fed corporate bond purchase program). In China they can do just what the heck they want. Quote Link to comment Share on other sites More sharing options...
Si1 Posted July 21, 2020 Share Posted July 21, 2020 18 minutes ago, HovelinHove said: It is strange that we hear so little about the Chinese economy atm. Demand from the West has collapsed, and people are trying to stop buying Chinese garbage (although since just about everything is made in China or has components made in China that is very hard). Given the huge amount debt in the Chinese shadow banking system, it really can only be a matter of time before it implodes. Could this be the biggest domino to fall in the COVID black swan event? Also, I guess the big question is how much the state would be able to stop it? In the West we have the corrupt CBs propping everything up and creating zombie banks (2008) and now zombie corporations (Fed corporate bond purchase program). In China they can do just what the heck they want. They can in so far as so could the USSR. Quote Link to comment Share on other sites More sharing options...
Locke Posted July 21, 2020 Share Posted July 21, 2020 Ask not for whom the bell tolls Quote Link to comment Share on other sites More sharing options...
msi Posted July 21, 2020 Share Posted July 21, 2020 Nothing to see here..move along...be good sheep Quote Link to comment Share on other sites More sharing options...
Will! Posted July 21, 2020 Share Posted July 21, 2020 7 hours ago, HovelinHove said: It is strange that we hear so little about the Chinese economy atm. Since you mention it. Financial Times: China demand for Australian resources soars despite souring ties Quote Link to comment Share on other sites More sharing options...
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