— Tracy (𝕮𝖍𝖎) (@chigrl) September 9, 2021
– $300 billion in liabilities
– $7.4 billion in bonds due in 2022
– Bonds are now suspended
– Already missed debt payments this year
– Chairman recently stepped down from key unit role
This could destabilize global markets.
— Gold Telegraph ⚡ (@GoldTelegraph_) September 6, 2021
Worries surrounding Evergrande, which has been scrambling to raise funds to pay lenders and suppliers, have grown into broader concerns that a debt crisis could send shockwaves through China's banking system.t.co/HdiGiSnfzv
— 📈 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 & 𝗠𝗮𝘆𝗵𝗲𝗺 📉 (@Mayhem4Markets) September 6, 2021
As China’s banking system implodes, the rest of the global market should go down too. t.co/TSZUzeMAo8
— JRC TRADING (@JRC_trading) September 9, 2021
EVERGRANDE BANKRUPTCY = GLOBAL FINANCIAL SYSTEM COLLAPSE = GLOBAL DEBT JUBILEE
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.
– 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.