The Fall of China: There Will Be No Economic Recovery - Stefan Molyneux, 9 July 2015 [Archive]

View Full Version : The Fall of China: There Will Be No Economic Recovery - Stefan Molyneux, 9 July 2015

Bill Ryan

11th July 2015, 15:39

http://www.youtube.com/watch?v=zPdHAleapI0

This interesting and detailed 20 minute summary by Stefan Molyneux strongly suggests that China is on the edge of a very steep economic precipice.

My thanks to a particular longstanding Avalon member (you know who you are!) for drawing my attention to this. It clearly belongs in this Global Financial News section.

Flash

11th July 2015, 16:36

Absolutely loved it.

Brilliant and very well explained. Listen to the very end.

Thanks Bill.

I did not know who the guy was, so I researched. He is not always well perceived. But regardless, his analysis of the China situation is up to the point I think.

It also explains why I do not think that China would ever save the world. Much much much too much corruption in its governance. Our extremely corrupt and power hungry banks and bankers look like teenagers in front of real mafiosi (the west versus the east).

Cidersomerset

11th July 2015, 16:41

As he says above China is trying to say business as usual , this article from the BBC
is Thurs 9th july...

I posted an article yesterday about China being a founder member of BRICS and
some other article I put on other recent threads . I 'm not a financial expert , but
like most of us knows fiat money is massive pyramid scheme.

BRICS Bank Officially Launches As Sun Sets On US Hegemony

Read more: BRICS Bank Officially Launches As Sun Sets On US Hegemony

http://www.zerohedge.com/news/2015-07-08/brics-bank-officially-launches-sun-sets-us-hegemony

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http://static.bbci.co.uk/frameworks/barlesque/2.83.10/orb/4/img/bbc-blocks-dark.png

China media: Negative market sentiment 'exaggerated'

9 July 2015 From the section China

China's market regulator has introduced new rules in the past week to try and relieve pressure on Chinese shares

State-run media continue to try to calm investors as Beijing implements measures
to stop volatile trading on China's stock markets. Around 1,300 companies have
stopped trading on the stock market in recent days to avoid losses. A commentary
in Xinhua's Economic Information Daily says investors' negative sentiment in recent
days is "exaggerated".

Read more....

http://www.bbc.co.uk/news/world-asia-china-33457677

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The really worrying financial crisis is happening in China, not Greece

China’s Economic Boom Is Busting

59-TQVzhJlw

The Young Turks

Read more here: http://www.telegraph.co.uk/finance/ch...

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THE TELEGRAPH.......

‘While all Western eyes remain firmly focused on Greece, a potentially
much more significant financial crisis is developing on the other side of
world. In some quarters, it’s already being called China’s 1929 – the
year of the most infamous stock market crash in history and the start
of the economic catastrophe of the Great Depression.

In any normal summer, a 30pc fall in the Chinese stock market – a
loss of value roughly equivalent to the UK’s entire economic output
last year – after an ascent which had seen share prices more than
double within the space of a year would have been front page news
across the globe.

The dramatic series of government interventions to stem the panic
– hitherto unsuccessful, it should be added – would similarly have
been up there at the top of the news agenda. Yet the pantomime of
the Greek debt talks, together with the tragi-comedy of will they,
won’t they leave the euro, has relegated the story to little more than
a footnote – even though 940 companies, more than a third, have
now suspended trading on China’s two main indices.’

Read more: The really worrying financial crisis is happening in China, not Greece

http://www.telegraph.co.uk/finance/china-business/11725236/The-really-worrying-financial-crisis-is-happening-in-China-not-Greece.html

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CNA - Singapore Tonight, "China's property sector haunted by ghost towns" (19 May 2015)

0uxv5_GoY80

Published on 19 May 2015

Singapore Tonight - "China's property sector haunted by ghost towns" |
channelnewsasia.com

CHINA, 19 MAY 2015 : China's property sector is suffering from many empty towns
dotting its vast landscape, as the number of cities built has far outstripped the
demand. The impact is prominent in the Tianjin metropolis, where ambitious
development projects have either stalled or been left occupied.

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The Next Economic Disaster 2015: China's Economy Is Headed For Collapse

eJLh-Hb6LQA

Published on 27 Apr 2015

[HD] The Next Economic Disaster 2015: China's Economy Is Headed For Collapse
China has a unique, state-driven model of capitalism that clueless economists have
hailed as the new model for economic.

Noel

11th July 2015, 17:05

Thank you very much for this post it is very informative

Cidersomerset

11th July 2015, 17:14

This weeks David Ickes pod cast happens to be about 'Funny Money'
which I posted on another thread.....Its not particularly about China
but an interesting piece about 'fiat' money and banking crisis etc....

The David Icke Video Cast - The Funny Money 'Crisis'

-zkeK72aFAc

Published on 10 Jul 2015

12th July 2015. The David Icke - The Funny Money 'Crisis' - Watch the full video at http://www.davidicke.com

posted on...

Re: Five Banks have 96% Of $250 Trillion In US Derivative Exposure // 75

Trillion // Send then to Iceland !
http://projectavalon.net/forum4/showthread.php?83309-Five-Banks-have-96-Of-250-Trillion-In-US-Derivative-Exposure-75-Trillion-Send-then-to-Iceland--&p=976905#post976905

Zanshin

11th July 2015, 17:55

Thanks Bill,
Stefan Molyneux's fluent delivery of copious amounts of info is easy to listen to and absorb.

He does however, remain firmly on the illusory side of finance [where created debt is called credit etc.]
save for the final sentences of his presentation.
As other posters have alluded to; his sterling presentation of the fiat side of the equation is perhaps
incomplete without addressing the elephant in the room - usury.

'Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talks of the sovereignty of Parliament and of democracy is idle and futile.

Usury once in control will wreck the nation.'

William Lyon Mackenzie King
(Canadian Prime Minister.)

I've enjoyed many of Stefan's presentations for what they are - concise dissections of
mainstream viewpoints and thinking, whilst I feel he leaves a lot unsaid perhaps so
as not to alienate himself from 3/4rs of his listener-ship.

ThePythonicCow

11th July 2015, 18:09

It's not just China, it's not just the EU, it's not just Japan, it' s not just the US ... it's the world. Our entire monetary, financial, economic system is clearly driving off a cliff.

Paper assets (by which I mean the expectation of future income from savings, capital equipment, investments, assets such as mortgage, bond and debt paper of supposed future value in repayment, promised government social benefits, retirement funds and promises, derivatives, stock market bubbles, interest rate and foreign exchange swaps, ...) so vastly exceed the goods and services that will actually be available, that an immense world-wide economic, monetary and financial crash is inevitable and imminent.

Different nations (Euro, China, Japan, Middle East, North Africa, the US, Russia, ...) will assume different roles in this crash, but all will be deeply involved.

sleepydumpling

11th July 2015, 18:18

A few years ago I learned one of the reasons a stock plummets in price is sometimes caused by all the stock been bought up.
If there is no more stock to buy it does not stay at the price for long and can fall, so short selling the stock or betting the price is going down
stops the stock from crashing as it has a fight between the people who believe the price is going back up the bulls, and the people who believe the price is going down, the bears
take that away and there is nothing to stop the price from falling.

things may have changed and they can always create more stock but only for so long.
also I am no expert on this , but I remember being told that on a course a few years ago by a financial trader

bearcow

11th July 2015, 20:17

There are many things incorrect with Mr Molyneux's analysis. The most glaring being the fact that interest rates were not the driving force behind the rapid ascension of the shanghai market. It is clearly the fact in November the government allowed foreign money to have greater and more direct access to the shanghai exchange.

http://www.wsj.com/articles/china-opens-doors-to-foreign-investment-in-stocks-1415604267

Western trading firms now have a capacity to use price action more efficiently to manipulate a stock up and down based on how much liquidity they inject or extract from the market at any given time. This is clearly a "pump and dump" scam being wielded by investment banks and hedge funds.

The Chinese governments only way to counteract such attacks is to suspend trading of low cap stocks, stocks that are easily moved by large outflows of capital.

This also leads me to believe the glitch in the NYSE, United Airlines, & Wall St journal were hacks perpetrated by China telling the USA to cut the crap.

Amazingly, the Shanghai market has rallied over 10% in the last 2 days since the supposed glitches.

In saying this i don't think there is much more short term downside as the Chinese market is currently relatively fairly valued in relation to other markets.

TODD & NORA

12th July 2015, 03:10

..........

KiwiElf

12th July 2015, 05:13

The "Wolves of Wall St", Chinese style....

China's underground banks spread pain as defaults rise
Small Chinese savers suffer losses as underground finance industry collapses

https://nz.finance.yahoo.com/news/chinas-underground-banks-spread-pain-065521362.html

By Joe Mcdonald, AP Business Writer | Associated Press – Fri, Jul 10, 2015 6:55 PM NZST

BEIJING (AP) -- Fan Xiaolin, an engineer in Changsha in central China, thought he was safe when he deposited his family's savings of 800,000 yuan ($130,000) in a private finance company he said was recommended by employees of state-owned Bank of China.

The company, part of an informal industry of lenders and investment managers that operates outside China's state-run banking system, collapsed six months later as economic growth slowed and businesses struggled. Today, Fan said he and about 100 other depositors in Hunan Bofeng Asset Management Ltd. protest several times each week outside state banks and government offices, demanding their money back.
"The security people at the bank hit us," said Fan, 50. "The police ask us to go home and wait."

Thousands of Chinese savers like Fan who entrusted money to an informal finance industry that operates with little government oversight are suffering painful losses as borrowers default and real estate and other ventures fail.

Beijing allowed underground finance to flourish over the past decade to support entrepreneurs who generate jobs and wealth but get little credit from state banks. Communist leaders reaped the benefits of a thriving private sector without tackling the political challenge of giving entrepreneurs more access to an official financial system supports government companies.

Now, as losses rise, Beijing faces political tension and pressure to help investors recover their money.
"Many investors don't realize the risk until something goes wrong," said Guo Tianyong, director of the Banking Research Center at Central University of Finance and Economics in Beijing.

The industry's popularity reflects the Chinese public's urgent search for an alternative to low interest paid by banks, which has driven repeated bouts of boom-and-bust speculation in real estate and other assets. It propelled the flood of money from novice investors that fueled this year's explosive rise of Chinese stock prices, which peaked in June and have plunged since then.

One portion of informal finance is allowed by Chinese law: small loans from individuals to entrepreneurs. For a fee, brokers put borrowers in touch with small savers. They provided trillions of yuan (hundreds of billions of dollars) that supported the growth of Chinese private business.

The status of other activities is murkier. Some entities operating under names such as "investment guarantee fund" act like banks, raising money from depositors to lend, invest or speculate in stocks or gold. They promise two times or more the interest paid by banks.

Regulators have tried to keep official banks separate from the underground industry, but complaints in Changsha that Bofeng was recommended by employees of Bank of China and another state-owned lender, Industrial & Commercial Bank of China Ltd., or ICBC, highlight the tangled connections between the two sides.
"I went to deposit money in the bank and the bank manager recommended this to me," said an ICBC customer, Sheng Weimin, a 48-year-old engineer for an aviation company. He put 100,000 yuan ($16,000) into Bofeng in January 2014.

Fan, the engineer, said he got similar advice at Bank of China to put money into one-year Bofeng contracts that promised 7 percent annual interest — double the rate at state banks.

"There was no talk about risk," said Fan, who earns 4,000 yuan ($625) per month. "The counter staff at Bank of China said anybody who still uses certificates of deposit is a fool."

Bofeng raised 400 to 500 million yuan ($65 million to $80 million) by selling "trust products" to several hundred investors, according to the official Xinhua News Agency. It cited local authorities as saying the company was not authorized to do so.

Bank employees were paid a 2 percent bonus for selling the investments, Xinhua said.

Where that money went is unclear. Bofeng's website says the company is an investor and asset manager. But the Web portal Sina.com reported it also traded stocks and made high-interest loans to real estate and other businesses.

Strains on the industry worsened as growth in the world's second-largest economy tumbled to a two-decade low of 7.4 percent last year, barely half of 2007's high of 14.2 percent. It is due to decline further as communist leaders try to steer China toward self-sustaining growth based on domestic consumption, replacing a worn-out model driven by exports and investment.

Two farmers killed themselves after losing their savings in a failed finance company in rural Xiping County in the central province of Henan, according to the Beijing Times newspaper. It said the chairman of Haochen Investment Guarantee Co. was detained while police investigate possible "illegal fundraising."
Such a charge can be applied to an individual who receives more than 200,000 yuan ($32,000) of informal loans or causes losses to lenders of 100,000 yuan ($16,000), according to a 2013 document issued by China's supreme court. Enterprises can face charges if they receive 1 million yuan ($160,000) or cause losses of 2.5 million yuan ($400,000).

Depositors in Bofeng said they heard the founder, Deng Lin, was detained by police but they have yet to receive word on its status.
An employee of the Changsha city government propaganda office, who would give only his surname, Fang, confirmed police are investigating Bofeng but declined to give other details. He said investors would be informed once the investigation is completed.

Asked whether Bank of China staff had sold Bofeng financial products, a spokeswoman for the bank's Changsha branch, who would give only her surname, Zhou, said, "We have not signed a franchise agreement with Bofeng." She repeated that when asked whether Bofeng products ever had been sold in Bank of China.
"Bank of China is fully cooperating with the investigation and will fight to keep investors' losses to a minimum," Zhou said.
A spokesman for ICBC, Wang Zhenning, declined to comment.

Elsewhere, grifters have taken advantage of the industry's popularity to fleece investors.

In Shanghai, operators of a phony finance company disappeared with 100 million yuan ($16 million) from mostly elderly investors who were promised annual returns of 36 percent, according to the Shanghai Morning Post newspaper.

Chinese lawmakers are considering legal changes to curb misconduct, according to Xinhua.
"Underground banks, which run without financial supervision, not only threaten the economy and financial security but also encourage smuggling, money laundering and state assets embezzlement," the agency said in a report in May.

The pain is politically thorny for the Communist Party because those hurt often are entrepreneurs and professionals who have benefited from its market-style economic reforms and should be a pillar of support for one-party rule.

Deng Mei, a 29-year-old employee of an electronics company in Changsha, said her family deposited money in Bofeng starting in 2011 using annual contracts bought from an ICBC branch. Last year, her family put their savings of 250,000 yuan ($40,000) into new contracts that promised 7 to 8 percent interest.
The first sign of trouble was a mobile phone message Dec. 17 inviting her join a protest at an ICBC branch.
"I took a day off, went there and found a lot of victims like me," Deng said.

Sheng, the aviation engineer, said some depositors wanted to sue ICBC but a lawyer told them they would lose because their contracts were signed only by Bofeng, not the bank.
"At least there should be someone to give us an official answer to tell us when we get part of the money," said Sheng. "I ask the bank staff and always am told, 'It is being processed, wait.' "
___
AP researchers Fu Ting in Shanghai and Dong Tongjian in Beijing contributed.

MalteseKnight

12th July 2015, 05:50

At the moment the Government of the PRC appears to be neutral as to its support of Bitcoin. Could the current economic challenges associated with the international fiat money system induce China to tilt towards supporting it?

These videos might be indicative: K8kua5B5K3I

fLJmwIAYRqk

Calz

12th July 2015, 06:06

lucidity

12th July 2015, 10:55

Hi siblings,

I don't believe this story for one minute... it's not even remotely plausible.
This is a just a load of ...propaganda.

China might be hurt by the collapse of the USA and Europe...
since these are it's primary markets.

USA and Europe are hardly in good health... both are still suffering
enormously with recession and stratospheric debt... and china holds
much of that debt. China's economy is still growing, if it shrinks this
year, or next, it's because it's demand from USA and Europe is contracting.
China is beginning to align more of it's trade with Russia and within BRICS.

What's the point of this manufactured story ? To make Americans and
Europeans feel better about their own economic woes ?

be happy :-)

lucidity

Cidersomerset

12th July 2015, 11:59

A few articles from this mornings headline page, though the intricacies of the
financial markets are confusing when you go into details and 99.9 % of the
population 'switch off' which is why the 'Banksters' and government stooges have
got away with this for centuries. The fall out we all have to deal with, theres
talk this could be the end of the Euro as there is with the $ and other
currencies. I remember the £ being in trouble on and off in the 70's , 80's
and 90's. We have a referendum coming up and there will be plenty of
scare tactics as to whether the UK should stay in the EEC. One of the articles
below suggests we would be fine outside what has become an unmanageable
bureaucracy instead of a free trading zone , with some political ties.

I'm sure some of the more ' savvy' money/ financial / economic observers
may have a different take, but although money is fine as an exchange mechanism.
Its also open to massive abuse in the financial stock markets....

In the Paul Roberts vid below he says at the start its possible the Greek ministers
could have been threatened including to their personal 'well being' !! He gives his
views about the EU crisis and links it to Washington , NATO and the anti Russian
rhetoric , designed to undermined Putin to bring Russia back into the 'financial fold'.
Which is not going to well at the moment , but events can change or be altered.

I know this not localised to China but is part of the worldwide financial crisis ,
and Paul Roberts does say Washington is attacking both Russia and China in
their global 'strategic' plan

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Brexit vote could trigger European free market ‘chain reaction’, say Swiss and Icelandic MPs

By ickonic on 12th July 2015 Activism, Global Government, Illuminati Criminals, Political Manipulation

http://i.telegraph.co.uk/multimedia/archive/02051/euro-pound_2051566b.jpg

‘A British exit from the EU could spark a free market “chain reaction” across the continent,
encouraging countries such as Denmark and Sweden to take control of their own destiny.

Politicians from Switzerland and Iceland’s largest parties claim the UK would be able to stand
outside of the EU, dismissing the idea that it could be left isolated as “nonsense”.

Rather, Britain could emerge from the EU to enjoy a free-trade only relationship and become
more prosperous, they argue.’

Read more: Brexit vote could trigger European free market ‘chain reaction’, say Swiss and Icelandic MPs

http://www.telegraph.co.uk/finance/economics/11731694/Brexit-vote-could-trigger-European-free-market-chain-reaction-say-Swiss-and-Icelandic-MPs.html

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24 hours to save the euro: Germany prepares for a ‘temporary’ Greek exit as euro project on the brink of collapse

By ickonic on 12th July 2015 Global Government, Illuminati Criminals, Political Manipulation, The Money Scam

http://www.davidicke.com/wp-content/uploads/2015/07/Untitled-652.jpg

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THE TELEGRAPH...........

24 hours to save the euro: Germany prepares for a 'temporary' Greek exit as euro project on the brink of collapse

Berlin readies five-year expulsion plan for Greece, after Athens is accused of destroying the trust of its partners

http://i.telegraph.co.uk/multimedia/archive/03372/GREECE__Tsipra__th_3372359b.jpg

‘The German government has begun preparations for Greece to be ejected from the eurozone, as the European
Union faces 24 hours to rescue the single currency project from the brink of collapse.Finance ministers failed to
break the deadlock with Greece over a new bail-out package, after nine hours of acrimonious talks as creditors
accused Athens of destroying their trust. It leaves the future of the eurozone in tatters only 15 years after its inception.

In a weekend billed as Europe’s last chance to save the monetary union, ministers will now reconvene on Sunday
morning ahead of an EU leaders’ summit later in the evening, to thrash out an agreement or decide to eject
Greece from the eurozone.’

Read more: 24 hours to save the euro: Germany prepares for a ‘temporary’ Greek exit as euro project on the brink of collapse

http://www.telegraph.co.uk/finance/economics/11734202/24-hours-to-save-the-euro-Germany-prepares-for-a-temporary-Greek-exit-as-euro-project-on-the-brink-of-collapse.html

http://projectavalon.net/forum4/showthread.php?83480-Statesman-speech-Nigel-Farage-to-Alexis-Tsipras----Greece--s-Moment-Has-Come&p=977506#post977506

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Vampire Banks Will Suck Greece Dry

By ickonic on 12th July 2015 Corporate Crime, Illuminati Criminals, Political Manipulation, The Money Scam

http://www.davidicke.com/wp-content/uploads/2015/07/Untitled-45.jpg

‘Former Greek finance minister Yanis Varoufakis offers a clear explanation of what
the euro-elites have been really up to in enforcing endless austerity on Greece.

The popular line that Greeks need to pay the price for their years of profligacy and
learn fiscal discipline is, as Varoufakis observes, cover for the euro-elites’ efforts to
force European tax-payers to bail out yet again the recklessness of their
nation’s banks. That is why the “debt relief” for Greece is helping the banks rather
than ordinary Greeks.

After the 2008 financial crash, the banks had to be saved from their reckless
lending to individuals through deeply
unpopular bail-outs (so-called QE, or “quantitative easing”).’

Read more: Vampire Banks Will Suck Greece Dry

http://www.jonathan-cook.net/blog/2015-07-11/vampire-banks-will-suck-greece-dry/

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Paul Craig Roberts on Greece

By ickonic on 12th July 2015

cZTFFDZTRoY

Published on 10 Jul 2015

My talk with Dr Paul Craig Roberts about the financial situation controlling Greece,
and the consequences of the Greeks staying in the Euro or leaving it. Paul explains
what, who, has, is, and will be, influencing the situation, and what outcomes we might
expect, and how Washington will no doubt be doing all they can to manipulate that
outcome at any cost.

Hawkwind

12th July 2015, 12:37

Be careful what you ask for, because you just might get it.

Most of the information in this video seems to me based on half truths leading to false conclusions. The final point, however, strikes me as entirely correct. The global financial system is poised to collapse, and one more good kick might well do it. If no workable alternative is in place prior to the collapse, however, I don’t see it as something to look forward to with excitement.

Corporate owned food production would likely stop. Privately owned food production would likely be confiscated by the state. The vast majority of people in large cities would likely starve or kill each other fighting over what scraps of food remain. People living outside cities would likely be rounded up into forced labor camps. Wars would break out globally on an unprecedented scale. And after all that the final solution would likely be the imposition of a unified one world government, economy and religion. The New World Order that has been inexorably worked toward for hundreds of years would finally become a reality.

The only viable alternative to that scenario that I see is to build a new system of governance and economics prior to the existing systems' collapse. My own thoughts on that are that small groups could elect the person they most trust to look out for their interests. The representatives could then arrange to meet and elect from among themselves the next level representative. If average group size is 7, then this process carried through 6 more iterations would account for 5.7 million voters. At 10 more iteration it would account for 13.8 billion people. Once elected through this process the representatives could be elected into the existing governmental infrastructure at the next general election.

Advantages-
1-Circummventing the political campaigning process lowers the influence of the monied elite and the media on elections. This should result in the people who are most trusted being elected rather than the people best able to sell a lie.
2- Representatives at each level are directly answerable to the group who elected them, and mechanism could be established for veto and impeachment by that group of their representative. This would ultimately give each individual voter a voice in decisions at all levels of government, but avoid the dangers of “mob rule” decision making inherent in direct democracy.
3-As a direct result of point 2, the general populace would be re-politicized. Rather than seeing themselves as powerless and discussion of politics pointless, people would begin to educate themselves on the topics of the day and discussing what they’ve learned with friends and family.

I’ll leave off there for now. If anyone else feels this is an idea worth discussing, let’s open a thread on the subject and do just that.

mgray

12th July 2015, 17:07

While China is slowing, the Shanghai exchanges liberal margin regulations lead to the climb of the exchange. Once margin requirements were tighten the exchange did not rise and had to sell off. More selling triggered margin calls, which triggered more selling. That's how you get a 30% crash on the Shanghai.

If you look at the Hang Seng index -- which is the largest Chinese stock exchange -- the sell off is much less dramatic.

To stop the sell off you stop the 200 largest stock trading firms from selling positions.

Central Planning just like the US with The Federal Reserve buying stocks to bolster indices or the EU in the market buying banks shares as well as its debt.

Gaia

12th July 2015, 18:11

We've been here several times before! I read in the news that, in the past three weeks, stock of the country have collapsed by over 30 %. The Chinese governement has taken emergency measures, but it had no effect at all. In China, 99 % of investors are individuals. All their savings soar with curves that continue to fall. China has trillions in treasury bonds and US bonds in reserve. And that, not counting +/- 4,000 tons of gold reserve of the Chinese governement. Moreover, China wants more than the value of its currency increases so has to create an internal market. The fear of a collapse in September is that China wants its currency to be included in the basket of currencies the IMF. Since it is possible to see this likely do to increase the value of the Chinese currency. The purchasing power of the euro, the US dollar, the pound sterling and the yen partly depend on their position in the basket of currencies. Logically the Chinese currency will occupy an important place in this basket of currencies. This will affect the value of other currencies. Remember 99 % of investors are individuals there... I do think that China's authoritarianism is dooming its own economy it can't maintain power through censorship and propaganda anymore. (Internal crisis )

Gaia

12th July 2015, 18:17

Bill Ryan

12th July 2015, 22:23

gripreaper

12th July 2015, 22:36

“You can’t taper a Ponzi”

http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/07/20150712_panic.jpg

ThePythonicCow

13th July 2015, 01:58

-------

Update: I checked yesterday with a very good friend, an American investment broker (and a longtime Camelot/Avalon supporter) who's been living and working in China for several years. I sent him Stefan Molyneux's video (in post #1) and asked him for his comments.

He wrote back to me this morning assuring me that everything's totally fine and healthy there, and said that Molyneux was a "complete buffoon". :)

I suspect your friend has another think coming Shanghai stock market crash: A false flag operation by the elite? Post #10 (http://projectavalon.net/forum4/showthread.php?83577-Shanghai-stock-market-crash-A-false-flag-operation-by-the-elite&p=977786&viewfull=1#post977786)

Napping

13th July 2015, 09:27

Hi Paul,

I know you've invested a lot of time on predicting and preparing for the upcoming financial disaster. I vaguely remember you making a list of the people you recommend following before. Can I be lazy and ask you to do it again or link me towards that list?

You and many have been saying it's coming, it's coming..... it's starting to feel very real and potentially imminent. I'm keen to put some provisions in place to protect my family.

I'm simply going to keep a very close eye on the commentators and websites that you recommend, follow the mainstream rubbish and follow my gut.

Thanks in advance, it's much appreciated.

Matt