Saturday, September 25, 2021

Beware of the IMF

by Martin Armstrong, Armstrong Economics:

Any small businessman is always trying to improve his business and expand it to be more profitable. That seems to be a common trait but what you must understand is that the same human trait dominates the bureaucracies and it is dominant at the United Nations, et al. From the very beginning, those in the UN believed that they should rule the world, for the only way to stop World War III was a one-world government.

Huge Credit Stress Starting in China May Easily Rock the Whole World

by Mish Shedlock, The Street:

Evergrande, a real-estate colossus in China is collapsing. Don’t expect the collapse to be contained to China. The global macro implications are huge.

Many people asked me to comment on Evergrande.

First let’s start with a WSJ article then a closer look at a pair of excellent Tweet threads by Michael Pettis and Girolamo Pandolfi.

Is It Ever To Be Grande?

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by Karl Denninger, Market Ticker:

You have to chuckle at this.

Evergrande, an alleged “investment vehicle” in China, appears to be detonating.

A primer: If it’s financial and in China, it’s a scam.  If you don’t understand how it’s a scam and who’s going to get scammed, guess who is wearing the hat marked “Sucker”?  Uh huh.

The only difference?  This is a big-un.

IT’S A FOURTH TURNING: WHAT DID YOU EXPECT?

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by Jim Quinn, The Burning Platform:

“Reflect on what happens when a terrible winter blizzard strikes. You hear the weather warning but probably fail to act on it. The sky darkens. Then the storm hits with full fury, and the air is a howling whiteness. One by one, your links to the machine age break down. Electricity flickers out, cutting off the TV. Batteries fade, cutting off the radio. Phones go dead. Roads become impossible, and cars get stuck. Food supplies dwindle. Day to day vestiges of modern civilization – bank machines, mutual funds, mass retailers, computers, satellites, airplanes, governments – all recede into irrelevance. Picture yourself and your loved ones in the midst of a howling blizzard that lasts several years. Think about what you would need, who could help you, and why your fate might matter to anybody other than yourself. That is how to plan for a saecular winter. Don’t think you can escape the Fourth Turning. History warns that a Crisis will reshape the basic social and economic environment that you now take for granted.” – The Fourth Turning – Strauss & Howe

Just When Gold & Silver Need Some Luck, It’s That Week Again, The Market Is Crashing, And The Sky Is Falling

from Silver Doctors:

Theoretically, this week should be “good for gold”. But in the real world…

(by Half Dollar) It’s that week again.

Fed week.

On Wednesday, September 22, 2021, the Fed will conclude its most recent 2-day Federal Open Markets Committee meeting, or FOMC meeting, at 2:00 p.m., Eastern Standard Time, which will be followed by a Fed Chair Jerome Powell press conference at 2:30.

HERE IT COMES! The Beginning of the Bankster’s Super Shemitah

from State Of The Nation:

It doesn’t get any bigger than EVERGRANDE

Just as the great stock market crash of 2008 occurred right after the real estate market crash of 2007, it appears that the Zio-Anglo-America banksters are set to execute another fastidiously controlled demolition of the entire Global Economic & Financial System (GE&FS) beginning this September.

What drove the series of stock crashes during September and right through October of 2008 was the unparalleled housing market collapse which began in early 2007 and continued through 2008. See: FLASHBACK: U.S. Housing Market Crash of 2007 Foreshadows Stock Market Collapse of 2008

Evergrande Losses Sparks Fear of Looming Credit Contagion, Janet Yellen Asks to Raise US Debt Ceiling

by Jamie Redman, Bitcoin:

Global investors have their eyes peeled on the Evergrande Group or the Evergrande Real Estate Group, China’s second-largest property developer by sales. Evergrande Group shares nosedived on Monday dropping to 11-year lows and many analysts and economists are concerned about a possible credit contagion. Credit problems with China’s real estate industry have affected global markets a great deal as European and U.S. stocks have slid during Asia’s overnight.

Evergrande Misses Debt Payments Due Monday As World’s Richest Banker Says China’s “Lehman Moment” Has Arrived

from ZeroHedge:

Wall Street analysts have been churning out commentary this week proclaiming that while Evergrande’s troubles pose a serious threat to the Chinese economy, it’s potential collapse doesn’t represent a “Lehman Moment”. As Thursday’s bond-interest deadline looms, analysts at Mizuho write that “while street wisdom is that Evergrande is not a ‘Lehman risk’, it is by no stretch of the imagination any meaningful comfort…It could end up being China’s proverbial house of cards … with cross-sector headwinds already felt in materials/commodities.”

Bank Stocks Sell Off on China Evergrande Concerns as Investors Worry about Who Has Exposure to its $300 Billion in Debt

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by Pam Martens and Russ Martens, Wall St On Parade:

Global bank stocks took a bruising today as questions grow as to just how much exposure large financial institutions have to the teetering China Evergrande Group, a real estate development company in China which owes more than $300 billion in debt that it can’t repay. The Dow Jones Industrial Average shed 614.4 points by the closing bell today, or 1.78 percent, while global mega banks were down anywhere from more than 7 percent for foreign banks to more than 3 percent for U.S. mega banks. (See chart below.)

LETTERS FILED LUC MONTAGNIER , DR RICHARD FLEMING AND ONE OTHER PERSON

by Harvey Organ, Harvey Organ Blog:

GOLD UP $10.00 TO $1763.30//SILVER DOWN 17 CENTS TO $22.22// HUGE ADVANCE IN GOLD STANDING AT 9.054 TONNES//SILVER OZ STANDING: 28,140,000 OZ//EVERGRANDE COLLAPSE CAUSES BOURSES AROUND THE WORLD TO CRASH BADLY//COVID COMMENTARIES//VACCINE UPDATES//IVERMECTIN UPDATES//LETTERS FILED WITH THE INTERNATIONAL CRIMINAL COURT AT THE HAGUE RE THE WAR CRIMES AGAINST HUMANITY//LETTERS FILED LUC MONTAGNIER , DR RICHARD FLEMING AND ONE OTHER PERSON//GAS PRICES RISE AGAIN IN UK AND EUROPE SETTING OFF MAJOR PROBLEMS FOR MANY INDUSTRIES INCLUDING THE POULTRY INDUSTRY IN THE UK//SWAMP STORIES FOR YOU TONIGHT

From the Notebook: Evergrande and How About that Dollar Bear Market…

by Tom Luongo, Tom Luongo:

While it’s becoming easier to see how the various projects supporting the Great Reset are progressing just by reading the headlines and seeing how things are spun to manufacture consent, sometimes a story is deeper than the headlines.

I’ve watched the situation surrounding Evergrande’s collapse in China unfold like everyone else in this space.  Like many of you, and hat tip to Zerohedge for being on this from the beginning, I could tease out some of the story just by following the progression of the headlines, especially in light of China’s big changes in attitude towards foreign capital.