Comments by "May L" (@MeiinUK) on "China’s Largest Private Financial Conglomerate Implodes: $510 Billion at Risk of Vanishing" video.

Bloomin heck... so they didn't have any bonds to back them? But it grew to this size? I didn't get what people meant when they say that they are "into wealth management"... now, watching this video I totally gets it !!!!! lol..... And why didn't they literally just depreciated their buildings, rather than to speed up its demise? This is one of those things which I don't get. How could they have grown to this size? So.. it explains the Sunac thing. As well as the Evergrande then.
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It's not really a ponzi scheme. But... I bet that this kind of "consolidation" isn't and wasn't agreed at all, literally. This is why... And as I said before, there did not used to be an actual "PRC"... This is man-made in the past 100 years.... or so... So therefore, if they fight amongst themselves.. and have this "last man standing", then... this is literally what is happening. And any mistakes, somebody would get it. And when you see a risk point, normally, people tend to spread it out everywhere to dilute the issue. Which is what seems to be happening here. But it failed though. Now, I am thinking to myself that... HK is just as well to have so many actual oligarchs there. Cos they would've blocked off their or this kind of decisions... to spread outwards and leave offshore. So yeh.. funny how foreign companies left HK.. and went into the mainland.. and now discovered these kind of scenarios.... I suppose those so called elite's children.. didn't have any powers, whatsoever.. in persuading the situation to change itself? Obviously not.
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I haven't gotten round my head on how they actually work.... I don't get it. To me, it is so simple. As in, literally just knock down some buildings then. And recover the debts. Or sell their materials, building materials to another third party to kick start another industrialisation? You would think that would be the norm. Or something to that effect ? YOu would "think"... And you would also assume that, they would literally open a factory in one of the actual region that they have the highest debts in and turn things around. But their obsession with the entertainment industry... instead. Is just way too... I don't know what to say. So how come they are into the energy sectors, but they don't quickly turn things around and create smaller energy production factories within different regions, and then reverse back out their loans, and turn it around into an actual productive enterprise ?
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@41tl : You need to remember that, they are only unhappy and kind of upset, because of the figures. Cos remember... 1 pound, used to be around 200k yuans. So.... They have played around too much with their ratios, such that, they have literally lost focus or lost their eye on the ball. Whereas, we... in the West now, are literally quite bankrupt. And our figures, are basically set, and fixed. And we have stayed the same, for a long time. And most areas are literally charities.. we've beyond collapsed. So.... This is why nothing goes up or down any more in terms of inflation. We just literally recycle out money. lol... I realised this as much now.
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They are SOEs... and maybe more than likely that they were told by their employers to literally give it up to them etc. That is what would have happened. Cos SOE are seen as local government's employees. Just a regional company.
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@buburbasi3983 : But some of their money is not their own money though, but it is public money. So therefore there is nothing to back them? Lol... And even if you send this into SE Asia.. it doesn't .. well.. same thing. It doesn't solve anything, cos it just means that you're going to also have to experience some form of collapse at some point too. Have you not noticed that there are issues already with SE Asian banks? Why do you suppose that cryptos are made for? lol.... Er.... And do you really think that this talk of "internationalising the yuans" is nothing but a mere token? It is a token now. Cos well... China has also just recently implemented like a three tier system... on category of data. Which means that, there would be the officials... the people.. and then the operators... Wealth is never going to be the same again. It is why.. bilateral agreements are now in place.
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@biburlizaf : LOL.... I know ! ....It's so bad it's surreal....
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@AmukaAkuma : Eh? You can store gold in a bank. No charges ! Obviously, you run in the wrong circles.... ;) I shall say no more.
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I used to think that was a joke, but I am beginning to think that this is a necessity ! But then, when they board this, this also ruins the bank as well... cos their calculation could potentially go wrong as well? So then you think that things like "credit cards" should exists... but then, that is also only AS accurate, as your actual financial calculations and the business model to make it work though. So.... this is very weird. I think that the original 2008 crash was related to China, wasn't it? Cos we absorbed some of the shock, and we never recovered. Only this time round.. we can't absorb any more, so now they are reshuffling.... or letting their own bank runs as well ?
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Glorified state loan sharks. Or another way, glorified.... regional "tax office"... Which should be more accurate. But cos they didn't reform politically and didn't detach the relationships... the so called "wealth management" company, was never reconciled. Cos if you listen to the video... they did say that, it came from a state owned enterprise.... Which, I associate the term to be equivalent in the UK as... "regional government owned company".... No wonder Sunac went down. Cos they must have been finding their way out of the PRC, and into the rest of the world. That is what went on... to then swap for foreign currencies and make themselves more liquid. You can only do this, if your amount is not large, but when their sizes is larger than the size of those foreign countries, and that their currencies are not enough to cover. lol... You don't think that those countries would notice? lol...... This is very stupid. They are only a mere 70 million country or size. And yet... Ah well....
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