China’s banking system is imploding…could be contagious…

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Does everyone rememmber the crash in 2008 was caused by a real estate debt bubble bursting? Well the same thing is happening again in China, this time on a larger scale. Nobody seems to be noticing the biggest story of the decade namely Evergrande, a Chinese junk bond investment company who have just recently had their bond ratings downgraded and their trading operations suspended in China. This is a similar situation to Lehman in 2008 but the main difference is that Evergrande’s debt liability makes Lehman look like small potatoes.

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– Evergrande goes bankrupt

– China debt bubble burst

– Global debt bubble burst

– Everything bubble crashes, stocks, crypto, real estate, commodities

– Federal reserve are already out of options to reflate global economy

– Only solution is a global debt jubilee administered by the IMF

Sidenote: Jim Cramer says he suspects that Tether and Evergrande share commercial paper default risk which could potentially spell trouble for the crypto market.

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