In this video, I talk with author and economic analyst John Sneisen about the recent plunge in Chinese stocks.
The Chinese blue-chip index suffered the worst day in 17 months after a MASSIVE plunge. Investors cited rising bond yields and regulatory burdens regarding corporate debt following a strengthening but bubbling equities market throughout the majority of the year.
China is suffering from a massive debt problem and the centralization of the markets and the economy will likely lead to an epic calamity.
John Sneisen breaks down several major issues facing China and the push towards a centrally planned cashless global system headed by China and the IMF as the IMF's Lagarde talks about moving the UN's banking complex to Beijing in the coming years.
As we always say, if your money's in the bank, it's not yours, it's the bank's. If your money's always going through the banks via centrally planned digital transactions and legal tender laws, your money is NEVER yours, it's ALWAYS the bank's and that puts you, the individual into collective servitude to that very system.
There's a massive power shift growing by the day, leaning towards a Chinese global order as countries swap out of the US dollar and the US threatens to put sanctions on China cutting them off from the unwanted US dollars. Let's not forget how much gold China has hoarded. There's reason to be concerned.
Add in the vast derivatives markets, the manipulative tactics of the central planners is a crash waiting to happen and individuals with no understanding of the markets or monetary system will be dealt the worst hand and they won't see it coming. That's why we're here.