Steven Van Metre
A huge demand for cash by Chinese depositors has started a bank run in Shanghai due to six rural Chinese banks that froze customer deposits back in April. Bank runs threaten to topple China’s financial system at a time its economy is contracting due to persistent lockdowns and a slowing global economy.
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When the PBC is asking why loans are slowed, really highlights the disconnect between Chinese elites and the real world.
There is NO such run. Come on Steve, you can do better than this. 😆
Age of ants, GIANTS & Megalomania:
After Rapture by Messiah,
Agnostic Earthlings Ravaged by Megalomaniacs.
Meanwhile, The Just Shall Live by Faith.
As The Judges Shall Live by Feelings.
As The Jerks Shall Live by Flakes.
As The Journalists Shall Live by Fake Facts.
As far as U.S. stock investments go – check out how much of their profits companies like Intel are making from China. It is going to be a problem going forward if there is a long, continued downturn in Shanghai. However, I noticed that all of the guys who preached how free and capitalist China is compared to the west, are suddenly quiet on that subject. Instead, they are focusing on Ukraine or anything to detract from their senseless statements.
What consumers giveth, they can also take away. Ccp will learn to respect the individual, you can take their freedom, but take their money? Watch out.
China authorities in general are dicks to the citizens. Ditto Canada, Australia but not US. We won't ever bow to that level of tyranny. Lots of prison coming for the active offenders in our governing.
This is just ridiculous that want to ride covid a bullshit virus they sent to keep the narrative going
Starting Tuesday a big dip coming as economic data shows weakness on all levels across the world!
AND YET….THE CHINESE STOCK MARKET REMAINS STEADY….HOW ABOUT THAT….??
WELL ……… thats a GOOD QUESTION …
they TRY to RIDE bicycle … by CUT OFF the CHAIN …
Remember the last big trend that started in China?
American news hides this data from our investors while trying to fake a stock market recovery based on nothing!
IF you were in China and were able to get your money out, would you buy gold? Do you think the RMB will sink in value? The world thought the USD would sink faster than the RMB, but with self imposed lockdowns and utter stupidity going on in China, they RMB could make the USD look strong. So would you but gold and silver now?
The way the CCP is handling the C-19 pandemic, China will be locked down for YEARS!! LOL!
Yang index anyone??
China is going to melt down! 😂😂😂😂
hello dude, could you tell me what a hedge fund is.. in something i can understand. ty 🙂
Steve I enjoy and have learned much from your updates. But please, the word is “exacerbate,” not “exasperate.”
ICE 9 is here!!! and spreading soon freeze & cease up
Thanks for reporting this I had no idea
How could this not be the end of days? I just saw a video on the lake mead water levels….. when that lake gets to low to provide electricity?
What will they do with all of these people who will end up starving? They’ll probably decide to go nuclear. There’s no solution to this other than to liquidate. That’s probably their worse case scenario.
Despite the economic downturn,I'm so happy☺️. I have been earning $ 60,000 returns from my $7,000 investment every 13days.
What this channel is about: Steven reads bad news so you don't have to.
Collapse of the CCP would be a blessing for the Chinese people and for the whole world.
if you want to MOVE the wheel of ECONOMY ……… you NOT helping COMPANY or COORPORATION … or a KIND of it …
BUT … you GIVE a FREE SOLID CASH MONEY IN FORM of COUPON or ELSE … STRAIGHT to the HAND of EVERY FAMILY in your COUNTRY …
SGNIFICANT AMOUNT of MONEY … about ONE to TRHEE times OF their MONTHLY salary … ALL at ONCE at the SAME TIME …
IT WILL GIVE them POWER to BUY at the SAME TIME … and IT WILL MOVE the COMPANY … and IT WILL MOVE ECONOMY …
I live in Beijing but I'm now going to get my money sent out rather than leave it in the bank. Looks bleak and there's no doubt that the employment market looks tough for Chinese teachers. I can't spend because everything is closed and it's too risky going into the city. The only place that's low risk is the hiking/scenic areas. Nobody about.
Either you lick USD or you perish
Reverse tsunami !
Lots of extravagant shows which were non compatible in terms of money churning will be evaporated in the coming months
Biggest hurdle that we might face in future is that the idea of buying assets against crypto will become null and void.
Alternative currency will have no value as was projected or assumed.
Wow – could be the next black swan event for the Global economy???
Watch China in Focus, China Observer, and ADV China podcasts for more info….
Now we know why China is so scared of Bitcoin. Peer to peer, censorship resistant, digital cash that cant be debased! Freedom money!
Although< I have interests in global economics I don't watch the news anymore… I have enough FUD in the crypto markets lol. Thanks for sharing this news and offering your insight on how to navigate crypto during unfortunate times/events like this. You're right about keeping level headed when investing/trading so that's why I think it's important to limit the amount of FUD we consume. I don't watch the media but the news that you present gives me just enough to know what's going on without riding the emotional rollercoaster if I were to watch the news everyday. Now I buy and just trade long term more than ever, I have made over 23BTC from day trading with Marie Freeman Signal in few weeks, this is one of the best medium to backup your assets incase it goes bearish..
China: a capitalist explanation for a non-capitalist economy.