Comments by "Power Shift" (@powershift2024) on "RMB in Severe Crisis? Major Devaluation Amid Putin’s $4.5 Billion Sale Shocks China’s Central Bank" video.

Sorry. The collapse of the yuan makes China's bond payments (it's very, very large debt) impossible to pay back. Never hope for currency collapse, that means no food, no energy, no anything but pain and misery for the nation.
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They just had a rather large problem last year or so where large amounts of their "gold reserves" were found to literally be lead with gold plating over it. Even their gold is Tofu money.
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They need a ton of US dollars to stabilize the yuan so they can replace the dollar as the global reserve. Makes perfect sense. It's economics with Chinese characteristics. 😅
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Xi Jingping-"We need BRICS currency NOW!!! Our yuan is completely worthless!!!" Bawawawwa!!!!!!!!!!!
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@RCXDerp Chinese yuan is very good for starting a fire or use for toilet paper. The 'Redback' does have some utility, just not as currency.
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Not even close. The RMB has lost so much value that the entirety of China's bond market (which is MASSIVE) becomes much, much harder to maintain it's debt obligations. You're starting to see the CCP's insane economic policy decisions coming home to roost. Enjoy. 😊
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They've got this currency they've been working on called The Lead BRICK. Now if only they had a currency that was worth more than toilet paper to back it.
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The "de-dollarization" the CCP has tried to push for the past 10 years has never worked, will never work and has only strengthened the dollar's position as the global reserve currency. It's also about to collapse china's entire economy if it's daft enough to continue this, and knowing Xi, he's daft enough to continue this. 🇹🇼🇹🇼👀👀🌎🌎👍👍
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@laccess911 the CCP owned Chinese companies mine gold, they sold it to themselves. The amount of corruption in the CCP knows no humanly bounds. They've robbed each other so much no one has a clue what's actually happening to their economy. Enjoy Xi destroying what's left of the Chinese nation, they couldn't have picked a worse dictator. Cheers!
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That rubble's trouble because it's because it's resting on a bubble. If you were subtle with stubble, she'd invite you in on the double.
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@korinogaro from Wolf Warrior diplomacy to threats of forced reunification with Taiwan, to their treatment of Hong Kong to their nine dash line claims, to their Covid cover up to forced technology transfers and on and on and on... The CCP couldn't have made any worse decisions unless they actually nuked themselves, which economically, they just did. Incredible.
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@Leshic2 this was Xi's genius 'Made in China 2025' initiative he dictated in 2020. What he didn't realize, other than he's a complete buffoon, is that China's population collapse, among other factors, means domestic consumption will never make China's economy self sufficient. Young people are the driver of a consumption based economy and China ran out of young people 20 years ago. Also, the youth unemployment rate is over 20% so what young people are left can't even find jobs. It's an economic death spiral courtesy of Xi and the CCP. Well done!!!
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100% wrong, but keep trying to convince yourself. The weaker the yuan gets, the harder it is to make payments on their massive bond debts. Almost every local province is bankrupt, real estate sales continue to fall decreasing the LGFV's ability to repay debt, youth unemployment is over 20% and still worsening, and industry and manufacturing are fleeing China for India, Vietnam, and SE Asia. Sorry sport, enjoy the next Century of Humiliation. 🇹🇼🇹🇼👀👀🌎🌎👍👍
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Communism has been tried in 44 separate counties for over more than a hundred years. No country has ever succeeded. You'd think people would wise up to a pretty glaring flaw in it. And, it's also killed more people than all wars of the last 150 years combined. If people want pain and suffering, try authoritarian dictatorships.
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Every time the CCP relaxed financial restrictions, the amount of capital flight from the mainland was staggering. Even the Chinese people know the yuan is worthless.
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