This page has been archived and commenting is disabled.

Is This Man Responsible For China's Stock Market Crash?

Tyler Durden's picture




 

Authored by Shannon Tiezzi, originally posted at TheDiplomat.com,

If Chinese authorities are to be believed, we finally know the cause of the country’s stock market woes: a single reporter. In a video segment aired by China’s state television broadcaster, journalist Wang Xiaolu confessed to fabricating a “sensationalized” story about the stock market and claimed responsibility for having “caused panic and disorder” among China’s investors.

 

At issue is a story Wang wrote for Caijing on July 20, in which he reported that China Securities Regulatory Commission was looking to end interventions designed to prop up share prices. CSRC denied the report, which was removed from Caijing’s website last week. CSRC blamed Wang’s piece for a massive drop in the stock market in late July, which sparked market woes that continue today.

Caijing, a financial and business newspaper in China, often pushes the envelope of state-sanctioned media coverage. It has been particularly active in publishing investigations into the finances and business connections of officials suspected of corruption.

Wang was arrested on August 25 for “fabricating and spreading false information about securities and futures trading.” A Xinhua report said that Wang had confessed to writing a false report on China’s stock market. According to Xinhua, Wang admitted that his story “caused panics and disorder at stock market, seriously undermined the market confidence, and inflicted huge losses on the country and investors [sic].”

On Monday, CCTV aired a video confession from Wang, in which he said he was “deeply sorry” for his actions. “At such a sensitive time, I should not have published a report that negatively affected the market,” Wang said, saying he had “caused great losses to the country and to investors” all for the sake of “sensationalism.”

Reporters Without Borders condemned Wang’s arrest in a statement issued on August 28. “Suggesting that a business journalist was responsible for the spectacular fall in share prices is a denial of reality,” the international non-profit’s secretary general Christophe Deloire said in the statement. “Blaming the stock market crisis on a lone reporter is beyond absurd.”

Chinese authorities have warned media outlets not to speculate on (or devote too much coverage to) the stock market troubles. The high-profile scapegoating of Wang is likely designed to send a stern message to other journalists thinking about following in his footsteps. And journalists aren’t the only ones being encouraged to keep quiet: China’s Ministry of Public Security also said that it had punished 197 people for spreading online rumors about the stock market crash, the deadly explosions in Tianjin, and China’s upcoming military parade.

Meanwhile, Xinhua also reported that a CSRC official, Liu Shufan, is under investigation for insider trading and accepting bribes. Four senior executives at Citic Securities, China’s largest brokerage firm, are also under investigation for insider trading. All five men have confessed, Xinhua said.

Chinese markets endured another roller-coaster-ride of a day on Monday, with both the CSI300 index and the Shanghai Composite Index dropped more than four percent before rising again in the afternoon. Both indexes fell by around 12 percent over the month of August, Reuters reported, and have lost almost 40 percent of their value compared to mid-June 2015.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 08/31/2015 - 21:07 | 6492978 Perimetr
Perimetr's picture

Long Duck Dong did it!!

Mon, 08/31/2015 - 21:09 | 6492987 Publicus
Publicus's picture

Yes, looks guilty to me.

Mon, 08/31/2015 - 21:10 | 6492992 Victor E. Overbanks
Victor E. Overbanks's picture

He doesn't look black though.

Mon, 08/31/2015 - 21:18 | 6493036 Save_America1st
Save_America1st's picture

it was my fault...I'm in a silver phyzz war w/ China......they just can't keep up.  Sorry, bitchez.  ;-)

Mon, 08/31/2015 - 21:32 | 6493112 remain calm
remain calm's picture

Wang is going down

Mon, 08/31/2015 - 21:44 | 6493161 Dutti
Dutti's picture

To me, it's looking more like China is going down - Why would I want to be invested in a country that comes up with this kind of show trial?

Mon, 08/31/2015 - 21:49 | 6493190 palmereldritch
palmereldritch's picture

AnAnonymous’s first mistake was clicking on one of those links...so common these days...offering incredible rewards from working just a few hours at home on the Internet!*


*I always wondered what happened to that guy

Mon, 08/31/2015 - 21:52 | 6493203 Richard Chesler
Richard Chesler's picture

Oxford-Chinese translation,

He tu fuk.

 

Mon, 08/31/2015 - 23:08 | 6493576 MANvsMACHINE
MANvsMACHINE's picture

I'll invest in China again once they give up the chopsticks and switch to forks.

Wed, 09/02/2015 - 15:57 | 6501255 TongueStun
TongueStun's picture

It wuz George Busch, Dick Chainy an the Helliburdon whether machine their two blame four evrything

Mon, 08/31/2015 - 21:51 | 6493200 Divine Wind
Divine Wind's picture

 

 

 

Agreed. Not at the present time.

On the best of days, figuring out the ebb and flow of China is a challenging task, even for the Chinese.

Mon, 08/31/2015 - 22:09 | 6493298 Groundhog Day
Groundhog Day's picture

A Chinese journalist and an Indian trader in his parents basement brought down the worlds largest markets. Well I'm glad we got to the bottom of that

Mon, 08/31/2015 - 21:18 | 6493037 Henry Rearden
Henry Rearden's picture

If he was a Black America, the police would have killed him by now.  Good thing he's in China, where he might actually be safer. 

Mon, 08/31/2015 - 21:34 | 6493120 remain calm
remain calm's picture

Chinese lifes matter.

Tue, 09/01/2015 - 01:35 | 6493995 Troy Ounce
Troy Ounce's picture

 

 

#Chineseliesmatter

Wed, 09/02/2015 - 15:59 | 6501266 TongueStun
TongueStun's picture

not to the socialist jew media they don't, not like the black lies do.....

Mon, 08/31/2015 - 21:54 | 6493216 yage
yage's picture

The only thing that is 'safe' about a political prisoner is China is the supply of their organs to the black market

Mon, 08/31/2015 - 22:28 | 6493382 Freddie
Freddie's picture

Free Jon Corzine!

Tue, 09/01/2015 - 00:02 | 6493761 The Ingenious G...
The Ingenious Gentleman's picture

I'm trying to make some sense out of that.

Tue, 09/01/2015 - 01:53 | 6494027 neilhorn
neilhorn's picture

How safe can you be when you know that your government is going to kill you whenever it serves their purpose?

Tue, 09/01/2015 - 08:00 | 6494436 MasterControl
MasterControl's picture

If he was a "black America" he wouldn't be accused of committing a work related crime because he would be unemployed.

Mon, 08/31/2015 - 21:20 | 6493046 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

Castigate the whipping boy.  Ancient Chinese secret.  And you thought it was Calgon.  Wang wishes it would take him away.

Mon, 08/31/2015 - 21:54 | 6493217 robertsgt40
robertsgt40's picture

I guess it's time to strap him to a canon.  That should bring the markets back.

Mon, 08/31/2015 - 21:16 | 6493025 Henry Rearden
Henry Rearden's picture

He's a witch!  Burn him!

Mon, 08/31/2015 - 21:38 | 6493143 Silver Bug
Silver Bug's picture

Sadly, it is very likely that he is simply a scape goat, who knows what they are threatening him with.

 

http://jimrickards.blogspot.ca/

Tue, 09/01/2015 - 03:23 | 6494113 The central planners
The central planners's picture

He has face of a dirty guilty Dong.

Mon, 08/31/2015 - 21:10 | 6492981 CHC
CHC's picture

Remarkable confession - right in line with the official party line.  That's uncanny.

 

So...now that the slimy culprit has been captured, all of China's problems are over, right?

Mon, 08/31/2015 - 21:12 | 6493000 booboo
booboo's picture

a few knots on the noggin and he sung like a bird. What else did he "confess" to? massive explosions? floods? food shortages, Foxconn jumpers?

Tue, 09/01/2015 - 08:52 | 6494572 mtl4
mtl4's picture

Good thing someone confessed, could start getting expensive if the PBOC had to get involved........

Mon, 08/31/2015 - 21:26 | 6493074 nmewn
nmewn's picture

I hereby give the Thomas Friedman award for Seven Year Chi-Com Central Planning Is Superior To Every-Fucking-Thing-On-The-Planet to...(drum roll please)...Vice Public Security Minister Meng Qingfeng!!!

Come on out here Meng and take a bow, you've earned it! ;-)

Mon, 08/31/2015 - 21:28 | 6493087 Victor E. Overbanks
Victor E. Overbanks's picture

Have you ever read the confessions at the Nuremburg Trials?

Mon, 08/31/2015 - 22:35 | 6493424 Slippery Slope
Slippery Slope's picture

Nein!

Tue, 09/01/2015 - 00:25 | 6493814 Savyindallas
Savyindallas's picture

Yes they had to crush their testacles and beat and torture them and threaten their families  -but they finally got a few of them damned nazis to confess -It worked with sheik Khalid mohammed - after being waterborded a hundred times over a period of a few weeks  -he finally came clean. Confessed to 911, the 1993 WTC bombings, falsely planting rumors of WMDs in Iraq, the Kennedy assasination, Oklahoma City, Waco, the rigging of the 2000 US Presidential election, Watergate, mena Arkansas  -you name it. he was involved with everything. Torture was essential. Hoess confessed to gassing 9 million Jews at Auschwitz alone. Stalin demanded the Nurembug trials -beleived in due process, just as the famous show trials of the 1930's where thousands confessed and were executed after torture and threats to the confessor's families. Kill one of your kids in front of you with the others next in line and you will pretty much confess to anything. Most Nuremburg defendants were in custody of the Russians and jeswish interrogators. These guys were good  -very good  -that's how we established the 6 million figure without any solid corroboating, documentary evidence. Of course there were dozens of Jewish death camp detainees who testified  - but then again, over 50 lying Holocaust survivors testified under oath in the Israeli trial of John Demjunjik that he was the infamous Ivan the terrible. They all lied under oath as a few years later after the fall of the Soviet Union, irrefutable evidence released proved this to be false and Demjujik was acquiitted on appeal by the Israeli Supreme Court before the bloodthirsty mZionists could carry out their fraudulent death sentence.  

Tue, 09/01/2015 - 01:59 | 6494032 neilhorn
neilhorn's picture

Are you serious? If this is what you believe, then the reality of facts have never had a chance to penetrate your mind. Sad.

 

I wish Zerohedge would reinstate the old Captcha regime. At least then a poster had to exhibit a fifth grade level of intelligence before he could post.

Tue, 09/01/2015 - 02:29 | 6494049 Diplodicus Rex
Diplodicus Rex's picture

Rather than attack the person with your ad hominems how about taking each assertion made above, providing your own counter assertion and links to any evidence to support your view? Shooting the messenger was never a successful model.

 

Edit:

It must be because of the influence of this site I have become so cynical in my old age but is it not more than a coincidence that Savyindallas and Neilhorn have been members of the Hedge for 5 years and 11 weeks?

Tue, 09/01/2015 - 04:01 | 6494158 SHRAGS
SHRAGS's picture

Sorry, were running an old version of the SockPuPPet here at Langley sector 7G.

Tue, 09/01/2015 - 04:20 | 6494175 The Merovingian
The Merovingian's picture

Thanks for the link. Not a day goes buy that I don't get turned on to something or another going on around me that makes me want to throw up a little in my mouth. Now where is that bottle of Listerine?

Tue, 09/01/2015 - 05:14 | 6494223 SHRAGS
SHRAGS's picture

I know what you mean.  If that link made you feel a little queezy, here's another of those "special projects" that will bring on a projectile vomit, TOR: 

Almost everyone involved in developing Tor was (or is) funded by the US government
Mon, 08/31/2015 - 23:36 | 6493686 Tyrone Shoelaces
Tyrone Shoelaces's picture

He really dosen't look like a good escape goat to me.

 

His hair is too short, and his teeth ... something ain't right here.

 

Bet this story will continue....

 

 

Mon, 08/31/2015 - 21:11 | 6492991 Bunga Bunga
Bunga Bunga's picture

So finally they got the crook. It's over now, buy stocks!

Mon, 08/31/2015 - 21:24 | 6493063 TeamDepends
TeamDepends's picture

Tonight, a few lucky peasants enjoy Sweet And Sour Wang.

Mon, 08/31/2015 - 21:13 | 6493004 order66
order66's picture

Yes, that's him. That's Macau Sarao.

Mon, 08/31/2015 - 21:41 | 6493158 klayton biggs bee
klayton biggs bee's picture

Or Satoshi....ie.ponestar:-)

 

Tue, 09/01/2015 - 02:00 | 6494036 neilhorn
neilhorn's picture

Kiser Sosa

Mon, 08/31/2015 - 21:14 | 6493008 C.A Ahmadine
C.A Ahmadine's picture

I feel better, like when they got that Bengazi YouTube video guy...

Mon, 08/31/2015 - 21:14 | 6493009 ozziindaus
ozziindaus's picture

The authorities haven't realized that it's more embarrassing and damaging to the China markets to suggest one man, a reporter no less, has more influence than the trillions used to keep it proped. 

Mon, 08/31/2015 - 21:15 | 6493014 jpc578
jpc578's picture

I fear for ths guy. To make an example out of him the Chinese government could execute him for his "crimes".

Mon, 08/31/2015 - 21:15 | 6493015 reader2010
reader2010's picture

Apparently they haven't heard of the story on the Eight Chinese Ruling Familes that control more than half of the wealth in China reported by Bloomberg. 

Mon, 08/31/2015 - 21:18 | 6493034 nmewn
nmewn's picture

Hush yo mouf, we be talkin bout Wang...lmao!

Mon, 08/31/2015 - 21:16 | 6493027 nmewn
nmewn's picture

The names Krammer, Wang Krammer, 007. Licensed to steal. 

lol...fucking Chi-Coms, man this is getting good ;-)

Mon, 08/31/2015 - 21:17 | 6493030 docinthehouse
docinthehouse's picture

China is a fabrication.  When the people rise up because they are fed up or not fed....just like here in Americas.....all hell will be felt by the incumbent sucks.

They need to spend a few weeks with BidenHillaryBigO to learn how to lie....oh yes, Bill and that Junker jackass too.

Mon, 08/31/2015 - 21:21 | 6493050 Rodent Free Corps
Rodent Free Corps's picture

A good show trial will fix everything. Damned cournter-revolutionaries! Running dog lackies of the captialist oppressors!

 

God, I getting a nostaligic hard on for the 80s. 

 

Mon, 08/31/2015 - 21:21 | 6493052 logicalman
logicalman's picture

It would be laughable if it was not so fucking pathetic.

Poor fuck in the photo must have drawn the short straw.

OTOH maybe he's just a 'crisis actor'

Who the fuck knows what's going on in this insane asylum?

 

Mon, 08/31/2015 - 21:23 | 6493058 JustObserving
JustObserving's picture

Fuck, that guy is screwed.  They will probably shoot him and charge his family 25 cents for the bullet.  Journalism is a dangerous occupation in China.

Mon, 08/31/2015 - 21:29 | 6493096 nmewn
nmewn's picture

Seems to be in the US too ;-)

Mon, 08/31/2015 - 23:17 | 6493605 Ness.
Ness.'s picture

Hey! At least he didn't flee to the House of Saud ~ They choppin' heads off of 'bad guys' faster than homies in Chiraq off little girls in drive- (bye bye) shootings in the "Community"

<crickets>

Mon, 08/31/2015 - 21:31 | 6493106 Shpedly
Shpedly's picture

Yeah he's screwed but no way they waste a bullet on him?

Mon, 08/31/2015 - 21:36 | 6493127 Implied Violins
Implied Violins's picture

Since his name is 'Wang', I fear he'll be...Hung Too Lo. And that's just wong.

Mon, 08/31/2015 - 21:24 | 6493060 JustObserving
JustObserving's picture

Dup

Mon, 08/31/2015 - 21:26 | 6493078 netpounder
netpounder's picture

If he has the power to crash the market, why don't they put him back on tv and have him pump it back up?  I smell a stinker and a set up.

Mon, 08/31/2015 - 21:28 | 6493091 Dragon HAwk
Dragon HAwk's picture

So your in China and you read this article what do you learn?

1 the stock market crashed.

2 Journalists are being Muzzled.

3 The government is grasping at Straws.

So you Buy More stocks of Course  /s

Mon, 08/31/2015 - 21:30 | 6493100 homiegot
homiegot's picture

Organ donor.

Mon, 08/31/2015 - 21:31 | 6493105 I Write Code
I Write Code's picture

I thought they blamed it on Aran Gleenspan.

Mon, 08/31/2015 - 21:37 | 6493126 Son of Captain Nemo
Son of Captain Nemo's picture

Reporters Without Borders condemned Wang’s arrest in a statement issued on August 28. “Suggesting that a business journalist was responsible for the spectacular fall in share prices is a denial of reality,” the international non-profit’s secretary general Christophe Deloire said in the statement. “Blaming the stock market crisis on a lone reporter is beyond absurd.”

And Reporters Without Borders... You should know something about being unmoored from reality!!!

Lotsa luv from the butt ugliest of liitle Zionist trolls  Georgy "Schwartz" Soros

Mon, 08/31/2015 - 21:37 | 6493138 Dre4dwolf
Dre4dwolf's picture

And the chinese population is so brainwashed, the man who stands accused probably believes it lol...

Mon, 08/31/2015 - 21:40 | 6493151 redd_green
redd_green's picture

Chinese government to the military "Round up the usual suspects."

Great way to clear out any political enemies or rabble rousers going after government corruption. 

Mon, 08/31/2015 - 21:54 | 6493214 ISEEIT
ISEEIT's picture


"It's The Gun's Fault!!"

 

Yep.

When I was a kid, It was 'nobody's' fault. Shit just 'happened'.

Now I have a better idea concerning who ( or what ) is perhaps the most likely culprit.

What came first?

<the criminal?

>the gun?

Mon, 08/31/2015 - 21:56 | 6493225 palmereldritch
palmereldritch's picture

He was known as The Anti-Cramer.

And he will pay

Mon, 08/31/2015 - 22:03 | 6493264 gwar5
gwar5's picture

It's the notorious Fat Finger. No stock market is safe.

Mon, 08/31/2015 - 22:18 | 6493320 PGR88
PGR88's picture

The Chinese Phrase is:   Kill a chicken to scare the monkeys

Tue, 09/01/2015 - 06:16 | 6494283 Apostate2
Apostate2's picture

No. Now they have trained monkeys that are killing the birds' nests to ensure that those nasty migrating chickens don't spoil the parade on the 3rd.

Mon, 08/31/2015 - 22:18 | 6493341 Pumpkin
Pumpkin's picture

Thank God they caught the bastard.  All in!

Mon, 08/31/2015 - 22:31 | 6493400 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

If the Chinese Government Communists say he is guilty it must be true because they are the arbiters of reality in China.

 

Tue, 09/01/2015 - 07:12 | 6494348 g speed
g speed's picture

just like that Kim guy in NK--Gov'ts all over the globe are becoming more like NK every day--

Mon, 08/31/2015 - 22:53 | 6493503 PrimalScream
PrimalScream's picture

Stock market prices arent dangeous.

It's the people who pull the trigger on the Buy and Sell orders who kill the economy.

Not to mention ... all those reporters who feed alternate viewpoints to the PUBLIC!!!

TAKE NOTE, ZEROHEDGE!!!

Hahahahahahahaha!!!

Tue, 09/01/2015 - 06:13 | 6494281 Apostate2
Apostate2's picture

Those 400 companies who had their stock frozen are technically bankrupt.

Mon, 08/31/2015 - 23:06 | 6493571 fromthinair
fromthinair's picture

0 + 0 = 1

zh, can you prove this? I guess not. Give it to the chinese govt. and they will do the job. 

Mon, 08/31/2015 - 23:24 | 6493631 Yen Cross
Yen Cross's picture

 I think you've been spending too much time in the Beijing smog.

 11weeks and 4days. Hows work at the Chinese Ministry of Truthisms working out for you?

Mon, 08/31/2015 - 23:27 | 6493643 Joe Tierney
Joe Tierney's picture

Will investors buy this shit, though?

 

I mean, will their greedy passions outweigh their intellect? Prolly!

 

Chinese leaders are prolly viewing this whole thing as a blessing in disguise - they are getting the chance to put 'measures' in place to deal with and counteract financial/economic warfare and to come out the winners. I think they can come out the winners, too, in spite of the damage being done.

 

I have been wondering if Wang Chuck Duck has been operating as a lone wolf, or as a C.I.A. operative? I'm pretty sure the C.I.A. has been nudging and nurturing some people in China, aimed at conducting a very sly and destructive financial/economic/social warfare against the ChiComs. We can't have Russia or China rise to become real competition to the US hegemon, now can we?

 

Tue, 09/01/2015 - 04:29 | 6494182 MSimon
MSimon's picture

I'd put their chances at winning at 1% to 10%. Our Jews have a thousand years of experience. Theirs? Maybe 30. And they are infected with that communist shite worse than we are.

 

Right now in the West communism is an overlay on capitalism. In China capitalism is an overlay oncommunism. Despite the disadvantage of communism we have a stronger foundation. And more cycles of experience.

 

The Russians have the same problem. If I was to guess who might beat us I'd say India. If they could clean up their act enough.

Mon, 08/31/2015 - 23:31 | 6493669 J Mahoney
J Mahoney's picture

Circumstances beyond his control

The phone, tv and news of the world

Back to the chain gang, Wang

The powers that force is to live like we do

Bring me to me knees when I see what they've done to you

Back to the chain gang, Wang

 

https://www.youtube.com/watch?v=radFwHzD-PM

 

Tue, 09/01/2015 - 00:07 | 6493774 Steve556
Steve556's picture

 

It is quite clear he fabricated that report.   Like lighting a match in a gas storage tank.     

 

Reporter with border is one of those NGO front of the CIA.  

Tue, 09/01/2015 - 00:10 | 6493781 The Ingenious G...
The Ingenious Gentleman's picture

The trillion-dollar man.
Not many people can brag they have such influence.

Tue, 09/01/2015 - 00:26 | 6493820 Boxed Merlot
Boxed Merlot's picture

There but by the grace of God goes every ZH participant if we were there.  (With the exception of MDB)

 

Tue, 09/01/2015 - 00:50 | 6493840 mr.n3utr0n
mr.n3utr0n's picture

Sum Ting Wong

Wi Tu Lo

Tue, 09/01/2015 - 01:24 | 6493974 Atomizer
Atomizer's picture

He was carrying a gun. Wallstreet hid under their cubicle farming desks. 

Tropic Of Cancer - A Color (at Room 205) http://m.youtube.com/watch?v=jeB3-x_zAyY


Tue, 09/01/2015 - 01:21 | 6493978 At120
At120's picture

Round up the usual suspects, Mr. Chung.

Tue, 09/01/2015 - 01:41 | 6494008 Die Weiße Rose
Die Weiße Rose's picture

looks like this poor guy has been beaten into submission -

by some hired Macau thug with a rolled up newspaper.

All the high rollers are getting cold feet,

while all the low rollers are getting hot feet.

meanwhile the chinese communist regime might be out of a job...

since their job was "to prop up and manipulate" the stockmarket.

WR;)

 

Tue, 09/01/2015 - 01:49 | 6494020 neilhorn
neilhorn's picture

You killed Kenny, you bastards.

Can anyone comprehend the devestation that this news has brought upon Mr. Wang's family, friends, neighbors, accomplices, and sources. I predict the state will exterminate everyone who came in contact with the truthtelling disease. A bullet in the back of the head will stop such outbreaks.

Tue, 09/01/2015 - 01:52 | 6494025 bid the soldier...
bid the soldiers shoot's picture

Hmmm

Wang wrote for Caijing on July 20, in which he reported that China Securities Regulatory Commission was looking to end interventions designed to prop up share prices. 

What if Wang was working for the PBOC and they arranged for him to write the story.

"To end intervention designed to prop up prices."

Now who do you think read that first, the Chinese analysts at Goldman Sachs, and JP Morgan or Joe Six PuPu Platter?

And who do you think went flying to the Shexit (Shanghai Stock Market) first?  The analysts or Joe?

The market crashed.  Half the stocks suspended trading.

And millions of Chinese Stock Brokers, called all their clients to reassure them that in a couple of months, after Blankfein and the foreigners went home, everything would be coming up Sesame Chicken again.

 

Tue, 09/01/2015 - 02:06 | 6494042 neilhorn
neilhorn's picture

I like sesame chicken as much as I like gen. tso chicken. Different taste, but just as good.

Tue, 09/01/2015 - 02:29 | 6494055 bid the soldier...
bid the soldiers shoot's picture

me too.  if the general isn't too spicy

Tue, 09/01/2015 - 04:37 | 6494187 MSimon
MSimon's picture

The spicier the better. Very strong antacids are over the counter and cheap.

Tue, 09/01/2015 - 02:47 | 6494068 Element
Element's picture

He's a very naughty reporter too, he even pumped up the stawks and RE bubbles!

bastard!

Tue, 09/01/2015 - 03:46 | 6494140 Panic Mode
Panic Mode's picture

Politicians IQ: Lets shoot the messenger and all problems are sorted.

Tue, 09/01/2015 - 04:05 | 6494165 huggy_in_london
huggy_in_london's picture

Does he live in his parents basement somewhere near the airport also?  

Tue, 09/01/2015 - 05:49 | 6494256 cassotto
cassotto's picture

if one person can do that, it by definition means your financial system is unstable

Tue, 09/01/2015 - 06:00 | 6494264 Apostate2
Apostate2's picture

Well, he is a large company of over 197 reporters who have been rounded up and charged for 'spreading rumours'. Expect more 'self-criticism' before the third of Sept. big day parade extravaganza.

Tue, 09/01/2015 - 06:35 | 6494297 Batman11
Batman11's picture

The head of China's Central Bank is a member of BIS in Switzerland.

The orders have gone out to find a single scapegoat for all the problems.

1) US stock market problems are due to a single rogue trader operating out of a small house in the UK

2) UK stock market problems are due to a single person in the City that didn't go to a UK private school.

3) This is the Chinese scapegoat, a reporter.

One may note how the scapegoats exists outside of the pool where the problem lies.

 

 

 

 

Tue, 09/01/2015 - 06:40 | 6494303 Raul44
Raul44's picture

ROLF another China farce. Yes those rich "smart" money listen to a random journalist and act on his opinion for sure, lol ;)).

Tue, 09/01/2015 - 08:10 | 6494452 2muchtax
2muchtax's picture

I'm glad we don't have journalists spreading false information

Tue, 09/01/2015 - 08:10 | 6494453 2muchtax
2muchtax's picture

I'm glad we don't have journalists spreading false information

Tue, 09/01/2015 - 08:14 | 6494465 Head_Shots_Work
Head_Shots_Work's picture

What - you guys never heard the story about the little dutch boy who sank dutchland? Wang gave china the finger - he did!

Tue, 09/01/2015 - 09:53 | 6494840 MEFOBILLS
MEFOBILLS's picture

China’s stock market is not China’s economy:

Small investors were creating new credit money through bank loans, and then levering that in stock market.  Please note:  A money supply, if it were real “saved” money that was not hypothecated into existence, would dampen this sort of human monkey business.

From Hudson

Well, what happened in China doesn’t have very much to do at all with what happened in the United States. Wall Street would love to blame China, and the Obama administration would love to blame China, and Europe would love to blame China. But most of the Chinese stocks went down because small Chinese investors were borrowing from, let’s say, the equivalent of payday loan lenders to buy stocks. There was a lot of small speculation in Chinese stocks pushing it up. But this was an internal Chinese phenomenon. And China, as a whole, doesn’t really have problems.

 In China, it’s largely small borrowers who borrowed from intermediate lenders, who have borrowed from the big banks. So a lot of individuals in China that tried to get rich fast by riding the stockmarket, and all of a sudden find out that they have a lot of debt to intermediate, you know, non-bank lenders, insiders, people who banks will lend to. It’s like the British banks lending to real estate speculators to lend out to homebuyers. So this is essentially the attempt to get rich by riding the stock market in China, which went way overboard. Chinese stocks are still above what they were at the beginning of the year. This is not a crisis. This is not very much. It’s just that the artificial increase in the market has now ended some of the artificial push-up. It’s still artificial, and it will still go down some more.

People who banks will lend to is the hypothecation event and operative statement.

I’m addressing this to you neoclassical economists out there, who might read this, but probably are not: YOU STILL INSIST THAT MONEY IS A NEUTRAL VEIL?  You insist private credit formation has no bearing on prices?  Are you retarded, or is your degree proof of being brainwashed?  It is pretty clear that usury money funnels out of banking, to then fund economic departments at university.  Toe the party line, or you will not get your degree, and most likely you will not find a job. 

 

sovereignmoney.eu

Tue, 09/01/2015 - 11:07 | 6495146 moneybots
moneybots's picture

"Is This Man Responsible For China's Stock Market Crash?"

 

Not unless he built the bubble.

Do NOT follow this link or you will be banned from the site!