‼️ CEO of Evergrand resigns… This is kind of a big deal, right??
(twitter.com)
🤡 Send Away the Clowns 🌎
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China's financial system is collapsing in real time.
I've been keeping up with how China's investments and housing system works, and let me tell you, they are all types of fucked.
There is a bank run going on, and banks have used every tactic under the sun to stop people from taking out their money (and the CCP supports them doing it)
The people are outright saying they don't care about their social credit scores and the consequences, if they can't get their money to afford food.
and this is already on top of the hundreds of other scandals currently hitting them (like the fact they have trillions of double printed money to pay for bribes, or the massive amount of buildings with severe foundational problems)
We should all prepare for the fallout from this.
What's the play? Buy crypto. Investment companies are snapping up every home here?
Crypto is a decent haven if you buy legitimate coins like BTC, ETH, etc. In the stock market you can weather the storm in inverse ETF's like UVIX & UVXY. Both those ETF's measure the volatility of the market (VIX). Currently the VIX is at 23 where is should realistically be much higher with all the stuff going on around the world. I personally do have money in UVIX right now.