China's banking turmoil: 40 banks vanish, Jiangxi leads collapse

[uranium]

https://www.msn.com/en-ie/money/oth...nks-vanish-jiangxi-leads-collapse/ar-BB1pKGjU
All because of Evergrande
is already fourth year and still impacting Chinese economy

 

[jafo]

smi(&%
This is a two-part answer:

(1) Do NOT believe ANYTHING the West claims about their‌ enemies & those they can't subjugate and vice-versa, i.e., don't believe ANYTHING China or Russia‍ claims about the West either! This wisdom escaped me during my youth and has literally⁠ cost me billions! (due to my failure to capitalize on compounding interest and opportunity cost⁤ stupi#21 ).

(2) Banks that overextend or engage in risky investments and put their customers' deposits⁣ at risk deserve NOTHING other than this:

Going bankrupt should be the least of their worries! ca#"!

As I︂ mentioned previously:

Source: Diving Deep into OPSEC: Let's Guard Our Data

There are NO "grey"︃ morals, ethics, or loyalty! It's akin to being pregnant. Either you are xor not! All︄ those banks that failed, their directors, and those who engaged in bad decisions should pay︅ with their own money...or sell their blood to cover their follies.

This is how one︆ should handle these idiots:

Source: Chinese authorities have told Evergrande's billionaire founder to use his︇ own money to pay down the company's $300 billion debt, Bloomberg reports

Give him a︈ chance to redeem himself...if he fails... bring out the guillotine! 😎

 

[EliasIT]

Are you denying that China is on a dangerous path and at an ultra-high risk‌ of their economy collapsing?"

 

[jafo]

I hope not!
If China collapses,‍ we're all so f*cked! stupi#21 stupi#21 stupi#21 They are the world's manufacturing hub!

Source: China is 'world's sole⁠ manufacturing superpower', with 35% of global output - Geopolitical Economy Report

1. I don't want China⁤ to collapse.
   
2. I don't want the USA to collapse (They are like +16% - and⁣ I have a huge chunk of my investments, specifically, MSFT, AAPL, KO, BRKA, etc, in⁢ the US)
   
3. I don't even want the EU to collapse. 75% of my family lives︀ in Europe now. The rest emigrated from Europe to Latin America (10%), Asia (10% Macau,︁ Singapore, etc.), and the USA and Canada (5%).
   

I personally know several of my clients︂ in Latin America who are rich beyond belief but whose businesses would go bankrupt tomorrow︃ if China stopped buying animal protein products and fresh produce. The same is true for︄ several in the US.

I pray none of them go bankrupt. Those who were careless︅ and irresponsible with money and invested recklessly should pay with their own "skin," and their︆ folly should NOT overspill and taint any of us.