I make Nostradamus look like a fucking novelty!!! The greatest Thesis ET has ever seen, https://www.elitetrader.com/et/thre...est-lie-ever-told.331513/page-10#post-4866480 CNH is slipping bad 7.09 looking to break at 7.10, https://www.marketwatch.com/investing/currency/usdcnh https://www.bloomberg.com/news/arti...take-in-another-troubled-regional-bank-report Central Huijin Investment Ltd., a unit of China’s sovereign wealth fund that owns stakes in a range of major financial institutions on behalf of the government, will buy into troubled regional lender Hengfeng Bank Co., according to local media. The report by 21st Century Business Herald didn’t give more details of the acquisition, or say where it got the information. If confirmed, it would be the third rescue of a regional lender engineered by authorities in less than three months. Hengfeng, based in China’s Shandong province, declined to immediately comment. China’s banking regulator said in June that the Shandong government was speeding up the restructuring of Hengfeng, a mid-sized bank that has failed to disclose its financial statements for two straight years. The lender had 1.2 trillion yuan ($170 billion) of assets at the end of 2016, according to its most recent annual report. Central Huijin’s move would underscore policy makers’ efforts to restore confidence in smaller lenders, a key source of credit to small and medium-sized companies. China surprised the market in May with a government takeover of Baoshang Bank Co. -- the first bank seizure in more than 20 years. Two months later, regulators took a different approach by having three state-owned financial heavyweights buy stakes in Bank of Jinzhou Co., whose Hong Kong-listed shares have been halted since April.
China’s central bank, in its first review of the industry’s risks, said in November that about one in 10 of the nation’s roughly 4,000 banks received a “fail” rating. Four hundred and twenty firms, all rural financial institutions, were deemed “extremely risky,” and only two received a top rating. Jason Bedford, a UBS Group AG analyst who earlier flagged the problems at Baoshang, Jinzhou and Hengfeng, has said that China’s smaller banks face a potential capital shortfall of 2.4 trillion yuan. He’s estimated the size of assets “in distress” held by a broader universe of Chinese lenders at 9.2 trillion yuan -- about 4% of the commercial banking system and nearly 10% of gross domestic product. https://www.caixinglobal.com/2019-08-09/exclusive-another-lender-gets-state-lifeline-101449326.html
20 more banks to go! I wonder all those people who were insulting me when I did this thesis months back, calling me a retard saying china will never collapse, what are they thinking now ? CNH just reached 7.10! They are literally in a melt down phase, it's over for them they are crumbling, they will spend what ever fumes they are running on defending next few weeks, and by October they will be in free fall mode, complete collapse under way https://www.marketwatch.com/investing/currency/usdcnh
Noice. Though Dalio did put a video saying that he is bullish on China in general. I expect he is just kissing the ring.
Even worst, he said : Not investing in china is risky Told you while back, he's a sadistic dude who loves authoritarianism, the way he ran Bridgewater when he was present, the stories on him... He loves the way Communism is a " tough " leadership He's a clown just talking his huge book in china, he over reached and he's about to get burnt... Good luck getting money from bankruptcy courts in china as a Foreign company
US: Hey you stole my laptop, give it back to me China: F&*^ a-you. You can't compete now you call me thief! You loser!
I don't think he cares about authoritarianism at all. Dalio's brilliance with China is that he has spent 20 years getting in good with the Party leaders which has given him one of the first opportunities to invest. His perspective is correct: if the USA is declining, and a power has to emerge, who is likely to be that power? China. He's never said a single negative thing about China. Do you think he actually thinks that there are no negatives about China?
For mainstream media, Bloomberg CNBC ect, most believed that crap cause their cheer leaders who just see numbers faker then Trump's hair coming out of china... Bridgewater has an army of freaks who definitely knew what's up, and Ray couldn't see it coming ? I don't think it was really about investments since 2015, it was clear as day the second the foreign reserves stabilized and CNH kept being defended extremely well with all the capital flight taking place, there had to be massive USD swaps and Eurodollar loans in the background... Ray stayed in china cause he loved the ideology of Communism and control, not for the prospect of earning more. Perfect example is the video while back you posted him and Vulcker, he mentions his good leadership qualities, then Vulcker said those can be applied to Nazi's, Ray's chest started beating fast, he was choked
Dalio likes China but it's definitely about making money. He has been there for 20 years not just because he likes China but because he saw that as "the next" superpower. I missed the Nazi part! Will have to watch it again.