BREAKING: China’s Banks Stop Lending due to Liquidity Freeze – Giant Ponzi Scheme Wont End Well. Panic Sets In!


If one thought the schizophrenic lies out of Europe between 2010 and 2013 were bad enough (the bulk of which it now appears were orchestrated by Mario Draghi), here comes China, a country which already has a “credibility” issue so to say, which has no choice but to lie as blatantly as possible in order to preserve some semblance of stability.

Not unexpectedly following news that various retail and online banking services had been impaired in the early part of the week at China’s biggest banks, now Caixin reports that banks are simply shutting lending to both businesses and individuals.

From Caixin:

http://www.zerohedge.com/news/2013-06-26/chinese-banks-stop-lending-due-liquidity-freeze

“People are panicking” – senior executive at a large national bank in northern China

https://twitter.com/prchovanec

http://online.wsj.com/article/SB10001424127887323683504578566842205728724.html

China’s “Giant Ponzi Scheme” Won’t End Well: Jim Rickards

 

One reason U.S. is again most desirable place for foreign investment: better labor costs. China’s, meantime, have doubled since ’07

https://twitter.com/WestWingReport

China riots: Mobs attack police in Xinjiang killing 27:

http://www.newsonia.com/reader/report/china-riots-mobs-attack-police-in-xinjiang-killing-27/

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