https://news.yahoo.com/nothing-left-live-evergrande-meeting-174442622.html
The situation on the ground contradicts the reassuring headlines in the US. Evergrande is about to topple and start a chain reaction around the world. Blackrock will be significantly affected.
Before I ever read a Q post, I had concluded it was Trump's protectionist trade policy toward China that triggered the bribed/controlled Democrats and MSM to spaz out and desperately try to impeach him. I now see there were other reasons, but the China policy is still a main one. Evergrande is proof.
Now those policies -- along with anemic supply chains and shutting down illegal income streams from human trafficking and other criminal enterprises -- have resulted in cashflow problems for China. Their aggressive hoarding of real estate and loans has left them asset heavy and cash poor. This is what happened to Lehman Brothers in 2008. If you can imagine cash as the oil in an engine, China's engine is dry and the pistons are locking up.
This, I theorize, was one of the purposes behind the ridiculous $3.5 trillion infrastructure bill. You have to think of infrastructure bills and "stimulus" bills these days as Democrat slush funds. The money is never accounted after it changes hands. As Trump called out before he left office, the covid stimulus sent billions overseas to China and Pakistan. It's likely the infrastructure bill was going to give China the cashflow to get their engine unlocked.
Then consider how an authoritarian regime relies on state corporatism for its economy. In this economic model, insolvency of your largest corporations can leave the state with cashflow problems as well. It'll be interesting to see how woke our corporations and sports will be at after that. Also, when a despotic state has little cash, they eventually will have trouble paying their military. When the military eventually does not get paid, they coup your despotic ass.
You mean, you do not know what CCP, FRN EUR and US are?
I would wager that it is one or more of those.
BIS = Bank of International Settlements.
IMF = International Money FUND = special UN agency.
SDR = Special Drawing Rights = IMF currency = basket of currencies.
UPU = Universal Postal Union = established 1871 = special UN Agency.
EUR = Euro = currency used in Euro countries/ EU countries.
FRN = Federal Reserve Note = currency issued by the Federal Reserve posing under the name of USD.
Of course you can always consult wikipedia for a primer.
I think it’s more for BIS, SDR, and UPU
Nah I figured out the currency/country ones from context. You're an asshole if you think I don't know what CCP is lmao. It's mostly the stuff that got answered below. I'm no finance specialist. I'm not exactly in that tax bracket.