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Power Shift
China Observer
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Comments by "Power Shift" (@powershift2024) on "Depositor is Helpless: Bank Converts Her 660K Yuan Deposit into Real Estate Bonds" video.
Tofu construction, Tofu banking, Tofu Rule of Law, Tofu leadership, Tofu morals. TOFU NATION, TOFU FUTURE. ๐น๐ผ๐น๐ผ๐๐
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The RMB has hit a record low not seen in over 30 years. China's currency is deflationary putting enormous pressure on China's MASSIVE bond market (their enormous debt) making them at a higher risk of default on USD trillions of dollars in loans. Why doesn't China use BRICS currency to save their economy??? Where's China's de-dollarization??? Why is China's youth unemployment over 20%??? Why is manufacturing continuing to leave China for Vietnam, India and SE Asia??? Why is China's birthrate it's lowest in history??? Why is China one of the fastest aging country's in human history??? Why are young people 'lying flat' and 'let it rot???' Why does China bully all of it's neighbors and claim the entire West Philippines Sea is theirs??? Why did China forcefully invade a peaceful Hong Kong, dismantle their freedoms and erase their of rule of law??? Why does China continually threaten to forcefully invade a peaceful, democratic and free Taiwan??? Why did Japan amend their constitution last year to switch from a peaceful, Pacifist country to a one that can defend itself better??? Why have almost all ASEAN countries started to participate in naval military drills together and not include China???
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Xi's Thoughts, "Duhhhhhh...." ๐๐๐
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Expect full digital currency in China very soon. They can monitor the smallest transaction and also make up even bigger statistics about how great their economy is doing. ๐
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Japan's lost decade of the 1990s is still very much alive today, although their losses have since recovered but economic growth had been close to 0% for decades now. They are still in a much, much, much better place than China for the next 30-40 years. Japan will still be a country by then. ๐
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ย @apocainย I was talking offshore FOREX exchange numbers, onshore mainland evaluation is complete fantasy b/c of China's currency manipulation for decades. CCP's manipulation doesn't work as effective in offshore currency trading. People are dumping the yuan like a bad habit, further hastening the unloading of RMB. Further pushing china's massive bond market to complete default. Unfortunately, this doesn't end well for the average Chinese.
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Pooh's pockets are empty. No more honey for Pooh. Pooh go bye bye. ๐๐๐๐๐๐
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ย @albueno7937ย maybe pieces of toilet paper with I.O.U. written on them? They'd be far more useful than any PBOC bank notes issued. ๐
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ย @tonysu8860ย 100% agree. The BRICS currency suggestion was a joke, only the rupee is somewhat stable compared to the other countries even more unstable currencies. China just lost 17% of total exports in less than 3 months. It's only getting worse. The CCP ran economy is facing very strong headwinds, more like a typhoon.
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ย @JamesSmullinsย he's not the brightest bulb, he's been dropped on his head too many times. ๐ค
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First their money, then their organs. No sacrifice is too great for the mighty Paper Dragon...
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And then they rob their citizens blind when the CCP cannot pay their loan on a loan on a loan on a loan...
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They can always donate their organs to help out the CCP.
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Local governments are selling properties back to themselves through Local Government Financing Vehicles (LGFVs) to artifically inflate their GDP. As for the factories, they'll rot back into the ground. Tofu construction disappears quickly though. ๐
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No slush fund, the country is bankrupt. They're stealing citizens money outright to try to keep from massive default on massive international loans worldwide.
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ย @gaoxiaen1ย that's what the Russian oligarchs thought. Whoops!!!
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Even their and their family's organs belong to the CCP.
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That's communism for you. Everyone sacrifices for the greater good (to the CCP) meaning your family is controlled, your money is controlled, your mind is controlled and no free speech or independent thought whatsoever.
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ย @Lybrelย Silicon Valley and Signature Bank both became insolvent because they were small banks playing the crypto game and got burnt. Lesson learned. Bear Sterns went under because they were one of the most heavily involved banks in the mortgage backed securities fraud. None of those banks comes close to the permanent damage of China's property debt risks in Evergrande, Vanke, and China's real estate market as a whole. That's is China's #1 growth for GDP at both local and national levels and now it's completely collapsed. GDP equals -500%. Cheers.
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This is very small bandaid on an enormous wound. All of the citizens stolen money in the country cannot save the amount of debt the CCP has accured and cannot pay now. They are merely buying a little time before the other shoe drops, hard.
1