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China’s party is almost over. Who’s going to be left with the bill?
Here are some recent reminders on why China is not going to save the world. 1. The great Ponzi elephant amongst Chinese banks From the WSJ: A move by China to roll over bonds issued to a state-run bank...
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Mish: “shark loans” are weapons of mass destruction in China property bubble
An interesting pickup from Mish, regarding the existence of shark loans in property funding in China. Basically, the scheme goes like this: 1. Comrade Lee bought property in 2005 for RMB 400,000 2. In...
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The USA is the biggest lender to the USA. Charles Ponzi and Robert Mugabe...
To prove to the damn Chinee that no one, and we mean, no one, gawddammit, can beat the good ole US of A, when it comes to global Ponziship, ZH notes that the USA has just become the biggest lender to...
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Investors learning that “Genneva” is not a place in Switzerland
This sad conclusion, which we highlighted as the most likely outcome of gold trading schemes several months ago, has unfortunately come to pass. Bet your bottom dollar that money is now being siphoned...
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