It is the 15th of November 2018

News

China Beige Book Warns Economic Slowdown Has Begun

When it comes to the global economy, few things matter as much as China, the trajectory of its economy and especially the pace and impulse of its credit creation, which is ironic because virtually all data coming out of China is fabricated and manipulated, and thoroughly untrustworthy, either on purpose or "by accident."

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China Treasury Holdings Rise For 6th Month, But The Streak May Soon Be Ending

According to the latest Treasury International Capital report issued today, four of the top five US foreign creditors added to their holdings of US Treasurys in the month of July (not adjusted for market price fluctuations), with the two largest, China and Japan, adding $19.5BN and $22BN to $1,113.1BN and $1.166BN, respectively (the Cayman Islands, i.e. hedge funds, saw a modest reduction from $265.2 to $259.2 billion). This was the 6th consecutive month of gains for China since its holdings dipped to multi-year lows in late 2016, bringing its Treasury holdings to the highest since August 2016. More surprising here is the steady bleed in Japanese TSY holdings, which despite the modest pick up in July have been on a steady downward trends since 2014.

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Kyle Bass: "China's Credit System Is Reaching A Boiling Point"

Fresh on the heels of the biggest-ever two-week drop in onshore dollar-yuan, noted China bear Kyle Bass gave an interview where he addressed one of the most exasperating aspects of the short-selling business, and an issue that he is no doubt grappling with at this very moment: What to do when confidence in your investing thesis is undermined by uncooperative markets.

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China's 2nd Biggest Bitcoin Exchange Responds To Report Beijing Is Shutting All Virtual Exchanges

One day after Bitcoin crashed on a massive surge in volume, following a report in China's Caixin website that Chinese authorities plan to shut local Bitcoin exchanges....

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China Loans Guinea $20 Billion In Exchange For Minerals

Having already taken over Venezuela with billions of pre-petition Debtor in Possession loans to the soon to be insolvent nation, China has franchised its model of financial colonialism, perfected over the decades by the IMF and World Bank, and on Wednesday agreed to lend Guinea $20 billion for 20 years in exchange for concessions on bauxite, an aluminum ore of which the West African country has vast resources the country's mines minister said.

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