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Celebrating China's First Bond Default: Copper Limit Down, Yuan Crashes Most In Six Years
It would appear the fecal matter is starting to come into contact with the rotating object in China. Worrying headlines are beginning to mount on the back of real economic events (an actual default and a collapse in exports):
- *COPPER IN SHANGHAI FALLS BY 5% DAILY LIMIT TO 46,670 YUAN A TON
- *CHINA YUAN WEAKENS 0.46% TO 6.1564 VS U.S. DOLLAR
- *YUAN DROPS MOST SINCE 2008
Aside from that Iron ore prices are crumbling, Asian stocks are dropping, Chinese corporate bond prices aee falling at their fastest pace in almost 4 months, and all this as 7-day repo drops to one-year lows (as banks hoard liquidity).
Item #1: The forced unwind of massive rehypothecated copper lots related to concerns over shadow-banking defaults sparked by the fact that Chaori was allowed to actually default...
Pushing Shanghai copper limit down...
Item #2: Iron Ore prices collapsing for similar reasons (as borrowers rotated to Steel and by-products for collateral on their shadow bank lending facilities)...
Item #3: Corporate bond prices are dropping at their fastest in 4 months...
Item #4: Repo rates are at near-record lows as banks hoard liquidity...
Item #5: USDCNY is tumbling as PBOC efforts to unwind the massvley one-sided carry trade appear to be getting out of control...
Item #6: AsiaPac stocks are down by their most in almost 6 weeks...
Item #7: Even US equity futures are unhappy (with JPY carry having caught up and now dumping again)...
Bonus Item: Copper-to-Gold ratios are collapsing...
Charts: Bloomberg
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Yes, the U.S. Military is long overdue in defending The Constitution.
Do the right thing or get in line for the hanging tree true Patriots will bring you to.
The Constitution is pretty clear, and if you don't do your duty your are committing treason.
You don't have a chance against even 5 million of your fellow citizens.
Yes, start with K street, and then the New York financial district.
Looks like this year is gobal flight to safety (of dollar) year while janet is tapering. Europe checked, Asia checked so next big event must come out MidEast direction.
Chinese yuan, that piece of crap funny money with Mickey Mao's fat face on it, is gonna lose half its value just like the goddamn Thai baht and most other Asian currencies did in 1997-98 when it last hit the fan in Asia. I'm in Thailand right now and the current boom is worse than in 96. Malaysia etc is ditto. It is going to get pretty gnarly across all of Asia soon. There is too much debt and too much economic expansion everywhere. When I see iron ore hitting $30 a ton, maybe a bottom will be reached. But that is years away. This bubble is out of sight. Bernanke's free money and the massive credit expansion in China has set the world up for a truly epic bust. Then there is the euro...
silly faggot dicks are for chicks they will import cheap american labor for their sweatshops as we all seem to be whores sucking on chinese money now right so when the deniero dies who you gonna call
ole uncle won dee wahr bitches, maybe if you clean up the ole lady she can turn tricks for ho ree crap and friends
fuck I f I was a chinese general D start recruiting mexican gangs to kill off whitey then let the country go up in flames as the blacks and mexicans fight over the left overs stage a few KKK rallies to get shit going and bam merica in shambles
Dr Copper is going to have a hernia soon.
The Chinese invented paper money. They also invented toilet paper. Now all I need to find out is who invented symbolism...
China's money supply up 1000% since 1999. Money = debt. China is heading for a motherhumping total economic collapse. Silly old Chicoms... they got too greedy.
the chinese plan long term, at least decades. i wouldn't be surprised if they have a plan for post-crash period but i might be mistaken. no way they didn't see this one coming. hell, maybe they even planned it. if they can take everybody else down with them, they will be first to get back on feet. that's when all the gold and other investments not in paper gobbled up recently might come handy. i just can't figure out if the ghost cities are malinvestment or are these also part of the plan.
Koos Jansen: Chinese Gold Demand 418 Tonnes YTD, West Confused
Koos Jansen reports another set of numbers indicating that the unprecedented demand for Gold from China continues well into 2014 and even gathering pace. We can see China's state-level military plan to accumulate Gold in action.Withdrawals from the Shanghai Gold Exchange Vaults account for 418 mt of Gold year to date. China alone is taking out annualised Gold world-wide production now! The acquisition of a serious Gold Mining Assets will be the very logical next step for China now. http://sufiy.blogspot.co.uk/2014/03/koos-jansen-chinese-gold-demand-418....
i think a good strategy is to liquidate and stack, and then start living like you intend to when we're thrown back to the barter economy. Start making stuff and selling it local and developing a network. Dont wait for the crash to start
You know what would solve this problem? More skyscrapers!
lol
"It would appear the fecal matter is starting to come into contact with the rotating object in China."
IOW, the poop has hit the punkah in panda-land.
Or the moving fan as we like to say.
in a non-manipulated traded market, falling copper price is bullish for silver, there are no non-manipulated markets anymore.
Keep your overhead low and grow your own. Sell excess to cash-strapped neighbors (sheeple). Has worked for centuries.