China's Financial System Ready To Collapse - Giant Ponzi Scheme Exposed! China’s Debt Is Well Over $507 Trillion, And Yet Per Capita Income Is Less Than $4500
Is the Chinese banking system ready to collapse? An interesting article that explains that Chinese financiers are involved in a gigantic Ponzi scheme that is leaving the Chinese financial system very vulnerable.
In a nutshell, shadow bankers borrow money very cheaply from the Chinese controlled banking system, and invest it in construction projects. (Borrowing rates are between 1% and 2%.
They then sell bonds from the projects to investors promising yields up to 8%. Since construction projects are non revenue producing, the units must be sold in order to pay back the loans and investors. With the glut of housing and construction projects, shadow bankers cannot pay back the bond holders their 8%. In order to do this, they again borrow more money from the Chinese controlled banking system for new construction projects and use those funds to pay off the old investors.
Once one of the shadow banker’s projects collapses or goes bankrupt, the entire pyramid of their activities fail as well. The Chinese controlled banks will then have to assume all of the losses associated with the downfall. This is currently why there is a credit crunch in China. The deck of cards is ready to collapse.
See the report here at:
http://finance.yahoo.com/blogs/daily-ticker/china-giant-ponzi-scheme-won-t-end-well-150742253.html
There could be great trouble brewing. No wonder Bernake is backpedaling and keeping the QE on the table.See this interesting report here:
In total, China owns about 8 percent of publicly held U.S. debt. Of all the holders of U.S. debt China is the third-largest, behind only the Social Security Trust Fund’s holdings of nearly $3 trillion and the Federal Reserve’s nearly $2 trillion holdings in Treasury investments, purchased as part of its quantitative easing program to boost the economy.
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