I am stupid on this specific topic, but I always wondered how China was experiencing such growth when the government manipulated the currency like it did.
Their currency meant nothing but what someone said it meant that day. Complete bullshit air.
because it worked just like a bernie madoff scheme...
the people who got their investments in early just cross their fingers hoping to get their money out by cashing on the next rubes to take the bait...
you invest a ton of US dollars into china building projects, that money buys you a metric fuckton of capitol in chinese currency because their currency was artificially devalued...
this prompted more and more investments from others investing in the sector, and your hope was that at the end of the day you could sell off your investments at the peak and make a bunch of money on the backend.
this has been the grift all along, fake bullshit being sold to speculators who in turn hyped and bolstered said fake bullshit enough that more people would invest.
bernie madoff got famous because a bunch of famous people invested and told all their friends.
china is pulling the same scam on an international currency and world economy scale.
I am stupid on this specific topic, but I always wondered how China was experiencing such growth when the government manipulated the currency like it did.
Their currency meant nothing but what someone said it meant that day. Complete bullshit air.
Why would anyone fall for that kind of shit?
because it worked just like a bernie madoff scheme...
the people who got their investments in early just cross their fingers hoping to get their money out by cashing on the next rubes to take the bait...
you invest a ton of US dollars into china building projects, that money buys you a metric fuckton of capitol in chinese currency because their currency was artificially devalued...
this prompted more and more investments from others investing in the sector, and your hope was that at the end of the day you could sell off your investments at the peak and make a bunch of money on the backend.
this has been the grift all along, fake bullshit being sold to speculators who in turn hyped and bolstered said fake bullshit enough that more people would invest.
bernie madoff got famous because a bunch of famous people invested and told all their friends.
china is pulling the same scam on an international currency and world economy scale.
and it's worked great... until now.