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Prediction Financial Collapse
Yep, gold and silver getting hit hard
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Wells Fargo has decided to shut down revolving lines of credit to customers and they are giving 60 days of notice today. This was on zero hedge today.
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China had to shut down trading on the second largest real estate company evergrande today because the liquidation of it's stocks were causing other junk bonds to sell off at to rapid of a rate. This was on zero hedge today. Evergrande might be China's Lehman brothers moment. Unemployment benefits end today for about 9 million americans. Food prices rose the highest in a decade in August according to an article on zerohedge today.
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Evergrande has hired bankruptcy lawyers and a lot analysts are this trouble with evergrande is a bid deal.
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Evergrande halted it's own bond sales and it looks like it's going to go belly up sometime soon. This was according to two articles on zerohedge today.
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Repo market remains close to $1T per day. WTF? How long can that circus go on?
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I don't think very long at this rate it can keep this up. I think when US pulled out of Afghanistan it was due to things they know are going come break point with the world economy within a year or closer. Pat Tillman found out the hard way that the troops were sent partially Afghanistan in order to keep the opium/heroin making protected so they could keep the economy afloat. Jim Willie said that a high ranking military official informed him that in 2011 George Bush SR had to release 14 billion in drug trafficking money in order to keep Bank of America solvent. I think with them leaving Afghanistan the towel was finally thrown in on keeping this all going forever. Is it any coincidence that Hurricane IDA came through and exposed just how vulnerable the power grid is to natural disasters with the main tower to New Orleans being knocked out? Now, the cumbre vieja volcano is looking like it's going to erupt very soon and the risk of it collapsing and causing a mega tsunami?
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Definite fallout today in the financial sector and more problems to come on evergrande's default. There are at least 5 or 6 articles on zero hedge today due to various problems worldwidw evergrande default is causing and it includes the banks eventually.
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