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Where In The World Is Zhou Xiaochuan? Stratfor Provides Update As 1 Month Chinese Repo Surges By 50%

Tyler Durden's picture




 

For those seeking an update on today rumor du jour, here is Stratfor with some additional insights, if nothing definitive yet. But before we get into that, we have received the following update from our Chinese media readers across the Pacific: "Here is the link of the Ming Pao report. http://inews.mingpao.com/htm/INews/20100830/gb11502c.htm It says that "China may punish Zhou because China lost $430 billion foreign exchange on its Fannie and Freddie bond investment". It doesn't say anything about U.S. Treasury Bonds. The truth is that many Chinese thought China lost all its investment in Fannie and Freddie after they were delisted from NYSE. It is also wrong because China doesn't invest with their stocks." All in all, seems like lots of confusion pretty much everywhere, although the market is not taking any chances, with China's 1 Month Repo exploding by nearly 50%.

From Stratfor

Summary

STRATFOR is continuing to examine unconfirmed rumors that Zhou Xiaochuan, governor of the People's Bank of China, fled China to the United States. The origin of the report has been hard to track, especially due to censorship of websites discussing the rumors, so the unconfirmed rumors remain just that -- unconfirmed. However, if true, these rumors could have significant implications for China and for Sino-U.S. relations.

Analysis

STRATFOR is continuing to investigate unconfirmed rumors circulating in Chinese media to the effect that Zhou Xiaochuan, governor of the People's Bank of China, has fled China to the United States. At present there is still no confirmation.

The provenance of the rumor has proved hard to track. A report attributed to Hong Kong's Ming Pao newspaper on Aug. 28 said that Zhou might be punished for a large loss on U.S Treasury bonds worth $430 billion, and that the Chinese government might also punish others in the People's Bank of China. The report allegedly originated on an unknown but "major" Chinese discussion forum, and that forum suggested that Zhou had left the country. Ming Pao denied it had published the report Aug. 30, saying others had used Ming Pao's name without permission to distribute the rumor. STRATFOR has not yet been able to track down the original report, most likely because the Chinese government appears to be actively censoring websites discussing the rumors, deleting some web pages and blocking search engine results that involve Zhou's name and words relating to a possible defection. Rumors have continued to circulate on Chinese blogs and web forums, in particular suggesting that Zhou may have defected to the United States. The reports are still posted on the blog of a professor, Liu Bingfu, whose career experience suggests he is a notable, if minor, academic.

Zhou cannot be confirmed to have appeared in public since the rumors began. The official website of the People's Bank of China has reported on Zhou's activities Aug. 30 -- such as attending meetings with officials from Japan and Italy -- in what appears to be unusual coverage, including photos, and may be an attempt to counteract the rumors. The pictures were taken from a distance but do appear to show Zhou, though it cannot be confirmed whether the photos were in fact taken on Aug. 30. Zhou's last televised appearance was on Aug. 26 on CCTV, attending a conference with Chinese Premier Wen Jiabao, and images of the TV appearance also seem to show Zhou. Zhou had attended official events Aug. 10, in which he called for China to continue developing its western regions, and Aug. 3, when he met with his South Korean and Japanese counterparts.

Therefore what STRATFOR has at the moment remains unconfirmed rumors. If the reports are false, it would seem likely that Zhou will make a public appearance soon to dispel them. Otherwise speculation will continue. There are constantly rumors that high-level Chinese officials are in danger of a downfall, especially dealing with economic policymakers amid the economic challenges in recent years -- this year alone, such rumors have touched Wen and top banking regulator Liu Mingkang. Similarly, China has undertaken an extensive drive over the past year targeting corrupt officials, and a variant of the rumors about Zhou suggests he has disappeared from the public spotlight because he is under investigation for corruption.

What makes the rumors about Zhou more interesting, beyond his position as governor of the central bank, is the specific claim that he has defected to the United States. If true, this would have serious ramifications for domestic and foreign perceptions of China's political and financial stability, as well as for U.S.-Chinese relations. Though the rumors may prove false, their emergence alone likely suggests an attempt to detract from Zhou's reputation. This could be related to his economic policies -- while the rumor of a loss of $430 billion related to U.S. Treasury bills is difficult to comprehend without more context, China has recently adjusted its foreign exchange reserve management, or Zhou may have been targeted as part of the factional struggles ahead of leadership transition in 2012. However, it is relatively rare in China for political leaders to be punished for failed policies, and more likely the consequence of scandals, misconduct or political purges.

 

 

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Mon, 08/30/2010 - 15:54 | 553541 MichiganMilitiaMan
MichiganMilitiaMan's picture

Finally, a Black Swan with consequence?

Mon, 08/30/2010 - 16:14 | 553599 Careless Whisper
Careless Whisper's picture

nah, he's just having lunch exactly where you would expect him to:

http://www.nickandtonis.com/

 

 

Mon, 08/30/2010 - 16:56 | 553687 Ripped Chunk
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Great Ad. What did they pay you to post it here?

Mon, 08/30/2010 - 18:03 | 553820 JLee2027
JLee2027's picture

Great website. No directions or any idea where the restaurant is located.

Mon, 08/30/2010 - 16:24 | 553622 walküre
walküre's picture

about time the cracks start to appear.

Mon, 08/30/2010 - 18:42 | 553863 Rusty Shorts
Mon, 08/30/2010 - 15:56 | 553546 dryam
dryam's picture

Confusion bitches!

Mon, 08/30/2010 - 16:27 | 553636 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

confucius bitches† get it, china and all.

Mon, 08/30/2010 - 16:59 | 553660 Rusty Shorts
Rusty Shorts's picture

"He who will not economize will have to agonize."

 

Confucius bitchez.

Mon, 08/30/2010 - 16:47 | 553675 Spitzer
Spitzer's picture

This is just anchorman humor but "confusion bitches" just made me laugh my ass off.

+1000

Mon, 08/30/2010 - 21:19 | 554117 ColonelCooper
ColonelCooper's picture

The man who taught me nearly everything I know about business used to use a phrase once in a while that I was reminded of when I read that comment:  "Where there's confusion there's opportunity." 

Usually it was used to explain why our competition was running things so  blatantly fucked up.  Every once in a while it explained why we were.

Mon, 08/30/2010 - 15:58 | 553550 Ragnarok
Ragnarok's picture

Financials selling off...

Mon, 08/30/2010 - 16:01 | 553552 Pladizow
Pladizow's picture

Ping ching ta ting tow repo BITCHES!

Mon, 08/30/2010 - 15:59 | 553554 Greyzone
Greyzone's picture

Let's stop and think about this. What if this is deliberate warfare? China sacrifices a pawn to expose (indirectly) that China is massively short USTs and that the recent rally was just a covering rally. What happens to USTs in the aftermath? What if China is really short USTs?

I wouldn't count on this being as obvious as some people seem to believe.

Mon, 08/30/2010 - 19:14 | 553915 aurum
aurum's picture

thats an interesting thought. short treasuries.....they are already withholding REE's, loading up on commodities, telling their people to by PM's.....what would we do if they had all the pieces in place to suddenly and fully pull the rug on the treasuries? nuke them? we dont have enough troops for combat...if the oil nations, russia, and china collaberated against us what would we do?

Mon, 08/30/2010 - 19:24 | 553926 Spalding_Smailes
Spalding_Smailes's picture

We could place a 150% tariff on everything made in China. Tell the American people we are going to bringing manufacturing home. Jobs building the new plants & retooling ect, a boom for all Americans.

Mon, 08/30/2010 - 19:51 | 553960 aurum
aurum's picture

i am looking beyond a tariff imposition. they (China) will have obviously thought well through that possibility in the hypothetical chess game when it finally comes down.......us manufacture? and what will we do in the interim period to build the necessary infrastrucure with a worthless dollar while heavily addicted to foreign oil?.not so fast...our nat gas would help but we are nowhere near ready for any type serious of oil/nat gas swap.

Mon, 08/30/2010 - 20:31 | 554034 SheepDog-One
SheepDog-One's picture

Sure, a boom for all americans to bring back all our manufacturing....and that would take how long to start? 30 years minimum? Took 30 years to transfer it all overseas after all.

Tue, 08/31/2010 - 02:30 | 554613 Lux Fiat
Lux Fiat's picture

Had a conversation with someone who worked in the manufacturing space a few months back.  I had been of the opinion that the US would be looking at a 10-20 year time frame to rebuild industries moved overseas in the event of a (further) significant drop in the USD.  Sort of taking the "it didn't happen overnight and it won't turn around overnight" approach.  He surprised me by saying that it would be a much faster process, with a lot of it back in 2-3 years.  Any thoughts/opinions from those who are actually in the manufacturing area would be interesting.

I guess one could consider that a possible silver lining to Greyzone's unsettling, but very interesting, comments.

Tue, 08/31/2010 - 07:19 | 554755 aurum
aurum's picture

i'd like to know how he determined that time frame and if he truly considered the ramifications of a defacto bankrupt nation trying to pull off the infrastructure rebuild.....i think it would take a lot longer than that....look around now and how slow things move...shit it takes months upon months to repair existing roads let alone building an entirely new infrastructure from the ground up..one that ends an addiction to oil...i personally dont buy 2-3 years..i am in to the 10-20 camp.

Tue, 08/31/2010 - 10:17 | 555034 Lux Fiat
Lux Fiat's picture

His thinking centered on two beliefs.  1) Scarcity and prices of imports would rapidly create the opportunity to make large profits on some manufactured goods.  Those who had hard wealth or access to materials would build factories, etc. to take advantage of the outsized profits to be made, at least in the shorter term.  Depending on the level of trade barriers, exports could be highly profitable.  2) Gov't reprioritization - thought was that there still would be some form of central and state gov't around and that they would make reestablishment of domestic manufacturing capacity a priority.  Sort of akin to what happened during WWII.  It's amazing what can be accomplished in a relatively short amount of time when regulations get kicked to the curb, and complete, unrelenting focus is on getting it done fast, versus making sure that every disadvantaged and connected group gets it's piece of the pie.  He felt that in the aftermath of a currency crisis, as a nation we would have a relatively quick mind-shift as to what is truly important, especially in a "just-in-time" environment where we won't have 6 months to dither while burning off existing inventory.

As you mentioned, energy would be a/the major problem, and would likely be rationed until nuclear and other truly viable ( i.e. cost-effective sources vs political boondoggles) could come online.  Even then, don't think energy prolifigacy would ever return in a manner similar to today.

Re natural resources - his take is that our national parks are full of them.  As an avid camper, not a comforting thought, but when things get dicey, what's nice to have versus a must have can get redefined in pretty short order.

I don't know if he is right, but he's not an idiot either.  However, from my viewpoint, his scenario is largely dependent on US citizens pulling together in the face of adversity - again, ala WWII.  If that doesn't materialize, then a lot of things start going out the window.

Mon, 08/30/2010 - 20:34 | 554041 SheepDog-One
SheepDog-One's picture

Sure, a boom for all americans to bring back all our manufacturing....and that would take how long to start? 30 years minimum? Took 30 years to transfer it all overseas after all.

Mon, 08/30/2010 - 20:34 | 554042 SheepDog-One
SheepDog-One's picture

Sure, a boom for all americans to bring back all our manufacturing....and that would take how long to start? 30 years minimum? Took 30 years to transfer it all overseas after all.

Mon, 08/30/2010 - 20:34 | 554044 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

EDIT:  sheep 1

 

Mon, 08/30/2010 - 20:34 | 554043 SheepDog-One
SheepDog-One's picture

Sure, a boom for all americans to bring back all our manufacturing....and that would take how long to start? 30 years minimum? Took 30 years to transfer it all overseas after all.

Mon, 08/30/2010 - 15:59 | 553555 redpill
redpill's picture

If true, this has black swan event written all over it

Mon, 08/30/2010 - 15:59 | 553556 Caviar Emptor
Caviar Emptor's picture

Things are not as they seem. There's lots going on behind the scenes concerning exchange rates, dollar debt, contradictory central bank policies and, yes, SDR. 

The longer the crisis drags, the more the problems percolate to the surface. Even the mighty mountain backdrop of Jackson Hole couldn't inspire confidence. 

Just as easily as they can say Zhou "lost us money", they can mean "you owe us".

Mon, 08/30/2010 - 16:32 | 553617 cougar_w
cougar_w's picture

A while back, the US Congress was debating whether to label China a currency manipulator and merchantilist trader. On the very eve of meaningful actions, China reports that for the first time in years they had a trade deficit with the US. They could have made the numbers up on the spot, nobody has any idea what their balance of trade really is.

All the same, nothing happened in Congress that day. Everyone avoided a difficult action motivated as much by politics as anything else. Sigh of relief.

Fast forward to today. Rumors from China that something big is amiss. This, on the Monday after BB says "QE2 to infinity". Well now, we wonder what the Chinese thought of all that talk. Maybe come Monday morning we're finding out. If the Chairman of the PBoC "takes one for the team" even symbolically then it might signal a conflict between them and the FED and their fake-it-til-we-make-it policies.

It's Kabuki theater. You pay less attention to the players and more attention to the movements. After a bit, it's not as retarded as it seems.

Mon, 08/30/2010 - 15:59 | 553558 firstdivision
firstdivision's picture

Holy shit, I was actually right.  I need to screen shot my post in the original thread, as to this does not happen to me often

Mon, 08/30/2010 - 15:59 | 553559 Incubus
Incubus's picture

430 billion is nothing these days.  Ben wipes his arse with that much after taking a dump. 

 

oh... nvm that stuff is actually coming out of his ass, he doesn't wipe, it seems.

Mon, 08/30/2010 - 16:26 | 553631 geminiRX
geminiRX's picture

That would almost pay off the entire Canadian national debt.

Mon, 08/30/2010 - 17:12 | 553722 Mentaliusanything
Mentaliusanything's picture

I beg to disagree. 430 Billion is a bastard to cover. If true, somethings going to get a smack down.

Bubble Ben would love to have it as QE Lite

Mon, 08/30/2010 - 16:00 | 553561 unwashedmass
unwashedmass's picture

 

black, black swan.

Mon, 08/30/2010 - 16:37 | 553652 -1Delta
-1Delta's picture

That would be a green swan...

Mon, 08/30/2010 - 20:42 | 554055 maddy10
maddy10's picture

Yellow swan??????

Tue, 08/31/2010 - 02:36 | 554617 Lux Fiat
Lux Fiat's picture

Brown swan?

Mon, 08/30/2010 - 16:02 | 553564 carbonmutant
carbonmutant's picture

Somebody has been unloading Goldman shares in the pits all afternoon...

TOS traders have been riding it down.

Mon, 08/30/2010 - 16:06 | 553570 Leo Kolivakis
Leo Kolivakis's picture

Too much drama for me! Robo, what do you think?

Mon, 08/30/2010 - 16:28 | 553637 Careless Whisper
Careless Whisper's picture

oh i love that drama

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

big banks and retail... anyone see a bid today?

 

Mon, 08/30/2010 - 21:03 | 553643 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

massage bitchez!

what was she massaging, i couldn't tell?

hey, why doesn't anybody answer. is this what massages consist of. ? really, why no answers, do they rub out the men? is that legal?

Mon, 08/30/2010 - 16:05 | 553572 akenathon
akenathon's picture

if this is true expect Gold to at least triple...

Mon, 08/30/2010 - 16:21 | 553619 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Well, for a portion of a minute, anyway...

Mon, 08/30/2010 - 16:07 | 553574 Quinvarius
Quinvarius's picture

If he has not left yet, he should.  They will probably kill him just to make sure anyway.

Mon, 08/30/2010 - 16:08 | 553575 J.B. Books
J.B. Books's picture

Gee, and I worry about my $2,600 house payment. 400+billion loss..

What if the Fed was on the other side of the trade...? And what if the Fed (using the power of the Fed) just screwed the Bank of China to the tune of 400+ billion...

LOL...  that's a nervous laugh btw..!

J.B. Books.

 

Mon, 08/30/2010 - 16:11 | 553586 Caviar Emptor
Caviar Emptor's picture

Not a chance. Central banks don't trade. They hold to maturity for the interest. 

Mon, 08/30/2010 - 16:15 | 553601 Chartist
Chartist's picture

I hear you....I worry about my $2200/month health insurance payment...

Mon, 08/30/2010 - 16:09 | 553578 Hank Scorpio
Hank Scorpio's picture

21st Century Franz Ferdinand? 

Mon, 08/30/2010 - 16:09 | 553580 Sudden Debt
Sudden Debt's picture

they were delisted from NYSE

Fannie?

Freddy?

Did I miss something? My goldfish are called Fannie and Freddy! WHAT THE HELL DID THEY DO WRONG!!!

NOBODY

AND I MEAN NOBODY!!!

TOUCHES

MY GOLDFISH!!

YOU HEAR!!

 

Mon, 08/30/2010 - 16:10 | 553581 Miles Kendig
Miles Kendig's picture

See what happens when chasing the dragon leads to an inability to roll over...

Mon, 08/30/2010 - 16:10 | 553582 Bearster
Bearster's picture

It makes more sense that they lost on Fannie and Freddie. Given that UST's are rallying big time, it's hard to see how they could have lost unless they tried to day trade.

In which case I don't see how this is news for US markets.  For China, perhaps this is a big news item.

Mon, 08/30/2010 - 16:12 | 553589 Caviar Emptor
Caviar Emptor's picture

Translation: "You screwed us on that Fannie debt that built your houses. You owe us"

Mon, 08/30/2010 - 16:10 | 553583 Troy Ounce
Troy Ounce's picture

China will have elections and become a democlacy.

Mon, 08/30/2010 - 17:51 | 553805 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Then we visit Blitish embassy in Smolensk!

http://www.youtube.com/watch?v=BuO274cd7Y0&feature=related

Starts at 1:30 into the video

 

Mon, 08/30/2010 - 16:11 | 553588 papaswamp
papaswamp's picture

I wouldn't be surprised if the author(s) of the article in HK vanish. This smells of disinformation/distraction...which means something somewhere else is going on. If it is true the yarn ball is about to come unwrapped.

Mon, 08/30/2010 - 16:12 | 553590 Joe Sixpack
Joe Sixpack's picture

A Google machine translation of Mingpao's denial:

 

Mainland site risk , " Ming Pao Daily News " the name of false news ( 15:02 )
Mainland site this morning, one circulating fraudulent use of Hong Kong's " Ming Pao Daily News , " the name of the false message that " as China in the U.S. two- room ? ? loss of 430 billion U.S. dollars debt reserves, according to rumors that the primary responsibility for the Chinese people to prepare Chu Li , the People's Bank governor Zhou Ogawa , " also known as " spokesman for the U.S. Congress , Federal Reserve Vice Chairman Donald Kohn said the threat : If the Chinese handling of Zhou Xiaochuan , China's 5,000 high-ranking officials will be published in the Swiss bank deposits , which China did not answer " , the message triggered speculation that the mainland netizens Week Ogawa flee .
" Ming Pao Daily News " editorial board would like to clarify , " Ming Pao " has never made the reported cases of fraudulent use of this " Ming Pao " name to the cases of false news , " Ming Pao " strongly condemned , and will investigate complaints and to the perpetrators responsible .

Since the incident involving the unauthorized publication of false financial information on behalf of the newspaper , " Ming Pao Daily News " editorial on the 30th at the Hong Kong Police and the State CouncilHong Kong and MacaoOffice to reflect the situation ?, express concern and seek to help follow up the case .

" Ming Pao Daily News " editorial board

August 30, 2010

Mon, 08/30/2010 - 16:20 | 553618 Teaser
Teaser's picture

Well, if that's what passes for literacy in Chinese newspapers, we have nothing to fear.  Makes our American friends who use loose when they really mean lose look like brainiacs.

Mon, 08/30/2010 - 16:34 | 553646 cougar_w
cougar_w's picture

What part of "Google translation" didn't register?

Mon, 08/30/2010 - 16:41 | 553661 Teaser
Teaser's picture

What part of my name "Teaser" didn't register?

Mon, 08/30/2010 - 16:57 | 553692 cougar_w
cougar_w's picture

Okay, you are excused.

Mon, 08/30/2010 - 17:00 | 553700 Ripped Chunk
Ripped Chunk's picture

Which part of "waste of time" do you need explained?

Tue, 08/31/2010 - 00:31 | 554498 Rick64
Rick64's picture

No wonder they kicked Google out of China.

Mon, 08/30/2010 - 16:37 | 553651 Reese Bobby
Reese Bobby's picture

Ming Pao Chicken?  I love that shit...

Mon, 08/30/2010 - 18:09 | 553828 frippy
frippy's picture

+1

Mon, 08/30/2010 - 18:07 | 553827 merehuman
merehuman's picture

sounds like chop suieee to me

Tue, 08/31/2010 - 02:44 | 554624 Lux Fiat
Lux Fiat's picture

Hmmm, wonder if the PBC was running some scenarios looking at what magnitude of hits their bond portfolio would take at varying levels of US interest rates and USD values at some future point, and someone took one of the potential loss numbers and ran with it out of context - either out of ignorance, or with malice aforethought.

Mon, 08/30/2010 - 16:13 | 553592 LoneStarHog
LoneStarHog's picture

If he has fled and seeks asylum in the U.S., this could get VERY interesting.  IF China would declare him a criminal who took flight and demands extradition AND the U.S. refuses, might we see The Nuclear Treasury Option.

Mon, 08/30/2010 - 16:14 | 553593 Mitchman
Mitchman's picture

Dow down 140 today.  Wonder if their rumor mill is better than ours.  If this is true, then which emperor has no clothes? 

Mon, 08/30/2010 - 16:17 | 553605 LoneStarHog
LoneStarHog's picture

Thanks for planting that mental image of Obama & Bernanke naked.  So much for Supper tonight.

Mon, 08/30/2010 - 16:25 | 553630 Mitchman
Mitchman's picture

I was speaking in a more metaphorical sense...

Mon, 08/30/2010 - 17:51 | 553804 puckles
puckles's picture

Maybe the three of them are currently huddled in Jackson Hole, having a manly sweat together...

Mon, 08/30/2010 - 20:14 | 554001 goldsaver
goldsaver's picture

as snug as three spoons in the cupboard

Mon, 08/30/2010 - 22:38 | 554312 knukles
knukles's picture

An' all-long I was worried 'bout Larry the Hut ne'ked.

Mon, 08/30/2010 - 16:14 | 553598 LMAO
LMAO's picture

Anybody related to the Zero Hedge website constantly lives in great danger

 

ZHou missing?!.....Now there's a clue for you

 

LMAO

Mon, 08/30/2010 - 16:25 | 553628 cougar_w
cougar_w's picture

The plot thickens!

Maybe Tyler secretly works for ... the PBoC!

Ah yes, all is becoming clear. Clever, verrrrry clever.

Mon, 08/30/2010 - 17:09 | 553714 LMAO
LMAO's picture

Ermm, now you mention it.....YES, of course!

Dump those fooking US treasuries already Tyler, stop supporting US debt, you and a shitload of Chinese will thank me later.

The Red Pill is the only option!

 

and off toppic:  Obama seems to have noticed that too many Americans are out of job.....after which he swiftly went back into hibernation mode..Zzzzzz

 

LMAO

Mon, 08/30/2010 - 16:15 | 553600 tmosley
tmosley's picture

So was this money lost on Fannie and Freddie, or UST's?  The former seems to make more sense, but that probably means it is wrong.

Mon, 08/30/2010 - 16:17 | 553604 redpill
redpill's picture

Has to be Fran/Fred.

Mon, 08/30/2010 - 16:17 | 553603 Theta_Burn
Theta_Burn's picture

In other news, Jerome Kerviel formally of Societe Generale Bitterly complaining that his mere $7Bil could have been much, much worse...if it wasn't for his expertise in the matter.....

Mon, 08/30/2010 - 16:17 | 553608 redpill
redpill's picture

That excuse only works until the patient dies

Mon, 08/30/2010 - 16:59 | 553690 Joe Sixpack
Joe Sixpack's picture

Wow from rogue traders to rogue central bankers (don't Greenspan and Bernanke hold the #11 and #2 spots there?)!

 

Future consultancy firm:

 

Greenspan, Brenanke, Geitner and Zhou.

 

Contest: write their vision and mission statements.

Mon, 08/30/2010 - 16:59 | 553698 cougar_w
cougar_w's picture

They're talking about making this an Olympic sport in time for the next ... K-winter Games.

ba-dum-ching!

Mon, 08/30/2010 - 19:28 | 553929 Sub Dude
Sub Dude's picture

Nah - they will just join the esteemed firm of:

 

Dewey Cheatem and Howe.

Mon, 08/30/2010 - 19:59 | 553975 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

your funny.

Mon, 08/30/2010 - 20:27 | 554024 cougar_w
cougar_w's picture

Heh. "The Three Stooges" but you have to be over 50 to have seen them, even on T V

Mon, 08/30/2010 - 21:46 | 554189 Mitchman
Mitchman's picture

I resemble that remark!  Nyuk, nyuk, nyuk.

Mon, 08/30/2010 - 21:49 | 554194 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

do we cheat them and how, uh mitchy.

Mon, 08/30/2010 - 22:40 | 554316 knukles
knukles's picture

Funny you ask, for I come up with a blank.

Mon, 08/30/2010 - 16:17 | 553606 ChinaPower
ChinaPower's picture

"The official website of the People's Bank of China has reported on Zhou's activities Aug. 30 -- such as attending meetings with officials from Japan and Italy -- in what appears to be unusual coverage, including photos, and may be an attempt to counteract the rumors."

This should be easily confirmed by checking Japanese or Italian media covering the same news.

Mon, 08/30/2010 - 16:20 | 553610 waterdog
waterdog's picture

I would like to thank China for the housing bubble. We really do appreciate the drywall; and the carpet, the paint, the kids' toys. Freddie and Fanny, you just thought it was a threesome. I just wish there was some way to repay you.

Four trips by Geithner are now explained.

 

Mon, 08/30/2010 - 16:18 | 553612 Yikes
Yikes's picture

Should be an interesting open on the Asian Markets tonight.

Mon, 08/30/2010 - 16:18 | 553613 jwalker46
jwalker46's picture

Simple explanation: Stratfor needs to boost its subscription rolls.

All bullshit.

Is ZH becoming the financial world's "Drudge Report" ??

Mon, 08/30/2010 - 16:24 | 553624 Tyler Durden
Tyler Durden's picture

And 1 Month Chinese Repo rates surge in agreement...

Mon, 08/30/2010 - 16:42 | 553663 redpill
redpill's picture

This better not make it on Drudge Report, I don't want ZH to be slow all afternoon

Mon, 08/30/2010 - 20:46 | 554065 Itsalie
Itsalie's picture

But Shanghai stock market surged 1.6%, so maybe a little early to over hyperventilate. 

 

Mon, 08/30/2010 - 16:19 | 553615 Clayton Bigsby
Clayton Bigsby's picture

Um, correct me if I'm wrong, party people, but weren't Fuckie & Suckie bondholders made whole or at least guaranteed par by our government?

Mon, 08/30/2010 - 16:22 | 553621 Cindy6
Cindy6's picture

This is getting stupid. The source was a fake MingPao site, and the newspaper has already publicly denied making this report.

Mon, 08/30/2010 - 16:25 | 553625 Leo Kolivakis
Leo Kolivakis's picture

Yup, but I bet you some big hedge funds were loving the conspiracy theories and scooped up a ton of shares at the close!!!

Mon, 08/30/2010 - 16:27 | 553633 Sudden Debt
Sudden Debt's picture

suddenly all traces disappear. And we believe them when they correct the news because they only publish the truth.

Their reputation as nonparty journalists is at stake right?

Cleanup crews... so CIA...

Mon, 08/30/2010 - 16:42 | 553662 Lucky Guesst
Lucky Guesst's picture

I have a screenshot of wikipedia referencing the rumour of his defection. It is deleted from wiki now and the changes are not listed in the recent changes. I don't know how to add it to a post though????

UHHH, I emailed it to everybody I know so hopefully I won't be committing suicide over it!

Mon, 08/30/2010 - 16:59 | 553693 nonclaim
nonclaim's picture

Use something like http://tinypic.com and post the link.

Mon, 08/30/2010 - 17:11 | 553721 Lucky Guesst
Mon, 08/30/2010 - 17:03 | 553707 Joe Sixpack
Joe Sixpack's picture

Just go to the article's history (organized by date and time) and find the specific edit. Then post back a link.

Mon, 08/30/2010 - 17:14 | 553728 Joe Sixpack
Joe Sixpack's picture

Here, I'll do it for you:

 

http://en.wikipedia.org/w/index.php?title=Zhou_Xiaochuan&oldid=381896149

 

You up for canoing this afternoon?

Mon, 08/30/2010 - 17:23 | 553752 Lucky Guesst
Lucky Guesst's picture

Ha-Ha. I looked up that IP as well.... Denver. I'm in Ohio and the little Miami would be too slow and too hot for cabrewing today :-P

Mon, 08/30/2010 - 19:05 | 553870 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

white water, bitchez.

Y O U   A R E  n o t in O hi O, i bet. maybe you are. who are you? R U E C? no delete key.

Mon, 08/30/2010 - 19:43 | 553947 Lucky Guesst
Lucky Guesst's picture

UHHH? You are sometimes funny?just not this time, i bet. maybe you are. R U F U? no delete key :-)

Mon, 08/30/2010 - 20:01 | 553976 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

O K i will take that as a y e s .

Mon, 08/30/2010 - 20:10 | 553987 Lucky Guesst
Lucky Guesst's picture

OK, I'll take that as a YES as well! If ya tell me what E C means, I'll let ya know, J A.

Mon, 08/30/2010 - 20:32 | 554031 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

J A.

what's that stand 4?

:-P cheeky/playful blowing a raspberry, what ever that means.

Mon, 08/30/2010 - 20:45 | 554064 Lucky Guesst
Lucky Guesst's picture

 

 

 

If you had any good friends they really would install a breathalyzer on your keyboard, i bet. or maybe not.

Mon, 08/30/2010 - 21:38 | 554179 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

NO  good friends here.

what's up with the dissing on/f vice?

delete out. are you edward?

Mon, 08/30/2010 - 21:53 | 554208 Lucky Guesst
Lucky Guesst's picture

 

.

.

.

.

.

No, neither your internet or imaginary friends could physically install it. R U Janeane?

Mon, 08/30/2010 - 21:55 | 554212 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

no of course not, i am kathy

Mon, 08/30/2010 - 22:48 | 554324 Spalding_Smailes
Spalding_Smailes's picture

Her fathers name is "Solar Power"

Her mothers name is "Opal Tiger "


Kathy loves...pills, booze, mushrooms, & the dead ...

And ZH :-p

Tue, 08/31/2010 - 09:33 | 554922 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

your putting words into my mouth.

not sure about pills or mushrooms or the dead. never really liked the dead. lame kind of music.

L O V E   ZH.

Mon, 08/30/2010 - 17:55 | 553810 thesapein
thesapein's picture

We're used to seeing fake reports move markets. It's an everyday thing if you watch the news.

Mon, 08/30/2010 - 16:26 | 553626 dan22
dan22's picture

- The Amazing Story of the Hui Xing Gold Mine Ponzi Scheme in Inner Mongolia

http://israelfinancialexpert.blogspot.com/2010/08/chinas-shark-loan-ponzi-finance-amazing.html

Mon, 08/30/2010 - 16:32 | 553644 Straykitty
Straykitty's picture

Interesting site.  Even more interesting was the advert at the bottom:  Church financing available?  Hmmm...there's always more than meets the eye.

Mon, 08/30/2010 - 16:25 | 553627 carbonmutant
carbonmutant's picture

China puts "super online banking system" into service
GOV.cn         Monday, August 30, 2010

The People's Bank of China (PBOC), China's central bank, put its online payment interbank clearing system, or "super online banking system," into service Monday.

The system supports real-time interbank transfers and interbank balance inquiries.

It links online banking systems of different commercial banks and enables customers to access their accounts on one website.

Before the new system, customers had to log on to different banks' sites to manage their accounts, and interbank transfers usually took one or two days.

The charges for the new system have not been finalized.

http://english.gov.cn/2010-08/30/content_1691664.htm

 

Mon, 08/30/2010 - 16:28 | 553638 Mitchman
Mitchman's picture

Probably makes it easier to track what everybody's doing.

Mon, 08/30/2010 - 16:40 | 553659 carbonmutant
carbonmutant's picture

 This is really a story about a Super Bank Czar and that has Zhou's fingerprints all over it.

I think that people within the party who agree with you are responsible for the release of the Zhou story.

Mon, 08/30/2010 - 17:02 | 553705 cougar_w
cougar_w's picture

ALL YOUR ROUTING NUMBER ARE BELONG TO US.

Mon, 08/30/2010 - 17:51 | 553807 Lucky Guesst
Lucky Guesst's picture

LOL, You and Uncle Sam can fight over it!

Mon, 08/30/2010 - 18:13 | 553833 frippy
frippy's picture

That's some funny shite!

Mon, 08/30/2010 - 18:54 | 553878 Hephasteus
Hephasteus's picture

Let's hope they are smarter than the IMF.

Yo south africa. Can you help a cracker out? We just need to dump these crappy old computers here.

20 minutes of scavenging later.

Hello,

   I'm a political prisoner in south africa. Could I trust you to handle a large online money transfer.

Mon, 08/30/2010 - 19:49 | 553957 Lucky Guesst
Lucky Guesst's picture

Department of Justice definition.....

"Cracker: A person who accesses a computer system without consent with the intent to steal, destroy information, disrupt the system, plant a virus, alter the system and/or its processes from the configuration managed by the system manager, or otherwise alter information in or processes of the system."

http://www.scribd.com/doc/36624151/Investigating-Terrorism-and-Criminal-Extremism-Terms-and-Concepts

 

Mon, 08/30/2010 - 16:26 | 553632 iDealMeat
iDealMeat's picture

Convenient that we have some assets in the Yellow Sea to train with S.K.

Buy our Bonds bitches.... Or the little guy gets it..

Mon, 08/30/2010 - 16:27 | 553634 Internet Tough Guy
Internet Tough Guy's picture

He's dead, Jim.

Mon, 08/30/2010 - 16:38 | 553656 Sudden Debt
Mon, 08/30/2010 - 23:55 | 553685 Rusty Shorts
Rusty Shorts's picture

 -

Mon, 08/30/2010 - 18:01 | 553816 puckles
puckles's picture

Star Trek meets Goldmember??? Great if you speak Dutch...

Tue, 08/31/2010 - 04:53 | 554702 Sudden Debt
Sudden Debt's picture

Doesn't everybody?

Once we take over the world, you'll be able to learn it in one of the reconditioning camps we'll set up for you.

 

Mon, 08/30/2010 - 16:34 | 553635 Leo Kolivakis
Leo Kolivakis's picture

On more important matters, Greece plays Turkey on Tuesday in the 2010 FIBA World Championship tournament. Both teams are undefeated. Use link below to watch game for free:

http://www.atdhe.net/

 

Should be a great game.

Mon, 08/30/2010 - 16:29 | 553639 aldousd
aldousd's picture

IF I were a betting man, I'd bet the chinese central bank isn't pulling a spread trade or anything like that. They buy foreign paper and sit on it like an egg.  How would he have lost the money?  Sounds all bunk to me. But it sure would be something if it had any truth at all to it.

Mon, 08/30/2010 - 16:36 | 553649 redpill
redpill's picture

Maybe it was just a trillion $ worth of conforming Fan/Fred MBS that have turned toxic.  Banks are dumping properties at $50 a square foot lower than the going market rate

 

Mon, 08/30/2010 - 16:30 | 553640 three chord sloth
three chord sloth's picture

Ah... he's probably just still hangin' at Jackson Hole. Or maybe he took a side trip to Vegas on the way home. Put 400 billion in bonds on red.

Mon, 08/30/2010 - 16:31 | 553641 redpill
Mon, 08/30/2010 - 16:36 | 553648 cougar_w
cougar_w's picture

He can sing?

Rick Roll time!

Mon, 08/30/2010 - 16:38 | 553655 redpill
redpill's picture

Who is this Rick Rorr you speak of?

Mon, 08/30/2010 - 19:11 | 553906 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

RickRoll'd the best kind. never going to make you cry never going to say good bye. never going to let you down or never say a lie and hurt you. you go girl.

US open tennis bitchez.

my my would love to be in NYC. no delete button.

 

http://www.youtube.com/watch?v=oHg5SJYRHA0

Mon, 08/30/2010 - 16:35 | 553647 still kicking
still kicking's picture

It's a damn shame they couldn't have a share of Sallie Mae too, I'd be happy to default on some Chinese debt.

Mon, 08/30/2010 - 16:37 | 553650 suteibu
suteibu's picture

Found nothing in the most popular Japanese papers on Zhou.  Most current was late August about the central bank supporting development aid in Xinjiang (western China)

Mon, 08/30/2010 - 16:39 | 553658 redpill
redpill's picture

That is because the Japanese financial press are out in front of the BOJ frantically masturbating en masse in hopes the display will prompt more monetary easing.

Mon, 08/30/2010 - 16:44 | 553672 suteibu
suteibu's picture

There is little doubt about that.  Nikkei front runs the government and BOJ without shame.  You should read some of their analysis of yesterday's BOJ meeting. 

http://e.nikkei.com/e/ac/tnks/Nni20100830D30EE904.htm

BTW...I amend the earlier statement to change late August to early August and to include his support for a global currency during the same period.

Mon, 08/30/2010 - 17:06 | 553710 cougar_w
cougar_w's picture

That visual ... oh my god. Hundreds of little ... all doing ... oh my god.

You are a right bastard.

Mon, 08/30/2010 - 17:49 | 553801 goldsaver
goldsaver's picture

OMG.... you owe me a laptop...shit warn a bother so I can swallow my coffee first, damn. Coffee out the nose hurts!!!!

 

Mon, 08/30/2010 - 16:39 | 553657 Something Wicke...
Something Wicked This Way Comes's picture

Lose half a trillion. Swim with fishes. China not known for forgiveness.

Mon, 08/30/2010 - 16:42 | 553665 Something Wicke...
Something Wicked This Way Comes's picture

Zhou last seen with Billary. Selling Avon and UST. China preparing to issue SW for box of papers. We know how this will turn out.

Mon, 08/30/2010 - 16:43 | 553668 redpill
redpill's picture

...and they are fresh out of Avon!

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