Sum Ting Wong
The natives are restless in panama too.
https://twitter.com/i/status/1549844332575956999
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The best part is that Goldman Sachs, JP Morgan, Vanguard and the rest have 10 of trillions invested in the Chinese real estate market and Chinese Banks, much of it tied to derivatives in US public sector pension funds.
Blahaaaaaaaaaaaaa.
7 hours ago
And the US government will be forced to bail out the pensions (which is already happening).
8 hours ago
Yes it is, and it's also why Beijing should be freaking out (if it isn't)
Beijing is definitely freaking out. There are currently PLA tanks on the street in Henan in front of at least one of those four provincial banks that've been locking customers out of their accounts.
Supposedly, bad real estate loans make up only about 1% of the assets of China's major banks. That's probably a lie.
8 hours ago
(Edited)
You are right. Apparently depositors can’t get their money out. Banks say their deposits are investment products and can’t be withdrawn.
I wonder if the banks have anything at all.
8 hours ago
Sounds like the need a good MonkeyPox lockdown.
7 hours ago
Ya think?
9 hours ago
This article needs an update. China has deployed tanks to guard the banks from mobs wanting their money out.
9 hours ago
Confirmed. Tanks have rolled.
I actually like this and think people should simply stop paying everything in America too. Starve the beast.
6 hours ago
Read Atlas Shrugged. That's exactly what the hero did. Took the most productive, convinced them to disappear, system collapsed without them.
5 hours ago
(Edited)
Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion--when you see that in order to produce, you need to obtain permission from men who produce nothing--when you see that money is flowing to those who deal, not in goods, but in favors--when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you--when you see corruption being rewarded and honesty becoming a self-sacrifice--you may know that your society is doomed. Money is so noble a medium that is does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half property, half-loot.
-a pretty noble chap who followed Galt
5 hours ago
Who's John Galt?!?
7 hours ago
Somehow Biden will have the US taxpayer bail them out
8 hours ago
The Democrats look at tanks rolling down the streets of China with nothing but admiration….
”Darn, if only we could do that here!”
The natives are restless in panama too.
https://twitter.com/i/status/1549844332575956999
\
The best part is that Goldman Sachs, JP Morgan, Vanguard and the rest have 10 of trillions invested in the Chinese real estate market and Chinese Banks, much of it tied to derivatives in US public sector pension funds.
Blahaaaaaaaaaaaaa.
7 hours ago
And the US government will be forced to bail out the pensions (which is already happening).
8 hours ago
Yes it is, and it's also why Beijing should be freaking out (if it isn't)
Beijing is definitely freaking out. There are currently PLA tanks on the street in Henan in front of at least one of those four provincial banks that've been locking customers out of their accounts.
Supposedly, bad real estate loans make up only about 1% of the assets of China's major banks. That's probably a lie.
8 hours ago
(Edited)
You are right. Apparently depositors can’t get their money out. Banks say their deposits are investment products and can’t be withdrawn.
I wonder if the banks have anything at all.
8 hours ago
Sounds like the need a good MonkeyPox lockdown.
7 hours ago
Ya think?
9 hours ago
This article needs an update. China has deployed tanks to guard the banks from mobs wanting their money out.
9 hours ago
Confirmed. Tanks have rolled.
I actually like this and think people should simply stop paying everything in America too. Starve the beast.
6 hours ago
Read Atlas Shrugged. That's exactly what the hero did. Took the most productive, convinced them to disappear, system collapsed without them.
5 hours ago
(Edited)
Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion--when you see that in order to produce, you need to obtain permission from men who produce nothing--when you see that money is flowing to those who deal, not in goods, but in favors--when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you--when you see corruption being rewarded and honesty becoming a self-sacrifice--you may know that your society is doomed. Money is so noble a medium that is does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half property, half-loot.
-a pretty noble chap who followed Galt
5 hours ago
Who's John Galt?!?
7 hours ago
Somehow Biden will have the US taxpayer bail them out
8 hours ago
The Democrats look at tanks rolling down the streets of China with nothing but admiration….
”Darn, if only we could do that here!”
