>Beijing is now racing against time to prevent a widespread panic after it opened the Pandora's box when it seized Baoshang Bank two weeks ago, the first official bank failure in a odd replay of what happened with Bear Stearns back in 2008, when JPMorgan was gifted the historic bank for pennies on the dollar.
>And with domino #1 down, the question turns to who is next, and will they be China's Lehman.
>We may have gotten our answer, when the Bank of Jinzhou, a city commercial bank in Liaoning Province, the second name in the list above, and with some $105 billion in assets, notably bigger than Baoshang, announced that its auditors Ernst & Young Hua Ming LLP and Ernst & Young had resigned, not long after the bank announced it would delay the publication of its annual reports.
>For those confused, the delay of an annual report and the resignation of an auditor, means a bank failure is not only virtually certain but practically imminent.
>The real question facing Beijing now is how quickly will Bank of Jinzhou collapse, how will Beijing and the PBOC react, and what whether the other banks on the list above now suffer a raging bank run, on which will certainly not be confined just to China's small and medium banks.
OK but China having problems and America being rich and powerful doesn't mean that America or the rest of the world is immune to the effects of a major economic collapse in China.
Angel Peterson
Yeah, and since the US isn't insulating itself from a collapse in Chinese production by reducing its trading partnerships with China, the US is surely fucked.
Jaxson Scott
We defeated the soviet union similarly, the US knows what it's doing. Don't let the Donald Trump puppet play you, the brains behind this move is going to save the US. China will not find demand for products in Africa and the EU + Brits are sticking with the US.
Alexander Roberts
Good.
Fuck the Chinks.
Xavier Watson
Imagine the money we can make.. please crash it faster
Daniel Ramirez
From 2008 to now money lost 45% of its value while bitcoin increased by 1000000 %
Jason Sullivan
Obviously doesn't know anything about the US.
Joshua Powell
War solves financial problems
Carson Rivera
wasnt bitcoin kind of created literally as a hedge for this kind of event
Ryder Lopez
based on what? genuinely interested
Gabriel Watson
This is good for crypto actually because the Chinks will be fleeing to preserve their wealth and converting fiat to BTC.
Juan Lewis
except that shit's been outlawed by god-king Xi Jinping, heavily. And they track people day and night
Isaac Gray
basically in a nutshell china has the worst geography in the world and that's why they literally can't compete with the US.
Eli Sanchez
FUCK WHITES AND FUCK KIKES
Evan Smith
Isn't China fertile as fuck? Yellow river and all that, maybe I'm wrong
Logan Turner
That just means the nominal price of conversion goes up for locals. They'll still pump the coin.
That all ends within a hundred miles of the coast. 80% of that country is desert, mountains, or desert mountains.
Robert Torres
>based on what?
Just look at the inflation rate and price of food vs real loan increase.
Blake Johnson
Yes it is. The reason China imports food is not because it requires food imports to be sustainable. It’s because the growing middle class wants more protein from swine, so it needs the extra imports to ‘refine’ into.
Ian Williams
>the brains behind this move
You mean the "Donald Trump puppet" who literally campaigned on economically confronting the Chinese in particular and barely won the election, going on to be the single most hated U.S. president in recent history for doing what he'd said he'd do in that regard? (economically confronting China and our other rivals on the world stage who'd locked our companies out of their domestic markets for decades by implementing tariffs and other trade restrictions, for example)
Take your L with dignity faggot, they'll be putting Blumpf on Mount Rushmore by the end of his second term lmao
He lost the popular vote and is being fud'd by the media constantly, meaning that over half of the voting population hates his guts to the point where they will vote for literally anyone or anything opposite of him. The point I'm trying to make-you fucking retard-is that a desirable puppet would be as uncontroversial, as conventional and as beloved as possible, and they'd start by showing deference to our "allies"-even as they close off their markets to our companies and do everything they can to exacerbate our healthcare crisis by passing the medical research buck to american patients.
It's funny how you can actually say positive shit about who you consider to be the best president we've had in your lifetime (not that that's saying much) and still get attacked by autists that don't understand sarcasm.
