China Bank Runs Have Started

[link to www.asiamarkets.com (secure)]

Har har. Red dragon eh..

Opps

Okay i was able to post the link its the 2nd post


Apparently the Chinese Media and American Media are silent

Theres even twitter pics and vids circulating

People are so dumb. They should all start running away.lol

historical fact,chinas banks arent liquid,most dont have cash on hand for runs.
if one happens,their economy locks.only digital services will work and that doesnt last long.

This is what concerns me most and also concerns Gov / banks. So they need you to have more trust in a new digital currency than existing physical currency. Covid was a good test for this as most went cashless but a lot of places still accepted cash.

Every country is moving to a Central Bank Digital Currency or CBDC. Canada and US currency was developed by MIT. [link to www.bankofcanada.ca (secure)] To get the CBDC in place they need to get rid of cash. It is a huge psychological jump to get people to decide cash is worthless and only take a new digital central bank currency. They will have to either ban cash, hyperinflate the currency away with a new currency on standby or run a digital version of the physical currency in parallel at same time for a while and then discontinue the physical. In China they already have the digital Yuan or e-RMB (Digital renminbi) but still use old physical currency as well. Only Chinese can use e-RMB [link to seekingalpha.com (secure)]

In Canada / US / Australia / UK / Europe they are going to follow the hyperinflate method. They will then introduce a new currency. This will be a lot more painful and you will need hard asset to make the jump. Cash will be almost worthless and exchanged by your bank for a local country or region specific CBDC that is backed by a new globally accepted CBDC. The new global CBDC will be a new version of the IMF SDR (e-SDR) that is backed by a basket of the country specific CBDCs and Gold. This is the great reset everyone talks about. Only rich and governments will have access to global CBDC (e-SDR) individuals will need to use local CBDC specific to a country.

To get the new CBDC for a country you will need their new digital ID/ Wallet. It will come in the form of an app. In Canada we call it ArriveCAN for now but every country will have one. You will need to download and buy CBDC through the app using your countries currency and an exchange. The government can disable the currency at any time.

I read a article just now. And the reason they want use to Use Digital Dollars is because then there cannot be bank runs

Central Banks will still have control of the CBDC's. I don't trust them.
I prefer Bitcoin. It is trustless, or not controlled.

Markets are carshing!

35 years to life for trading counterfeit digital assets.

no banks anywhere have enough cash for runs. that's why bank runs are illegal.

if banks had to store enough cash so eveyrbody could cash out any time then they wouldn't be able to lend out any money. then the whole business of running a bank wouldn't work

so, it started?...

The Great reset?

Ye, I reckon the ball is rolling, CCP model to be rolled out in the west

The Beast from the East

Social credit score system and re-education camps moving humanity forward

Depop is a go!

I've heard people in former Soviet Union countries are quietly hoarding cash.

They took out loans in dollars and didn't expect the dollars value to spike.

Now they're paying back debts with an even stronger currency - something they didn't expect - the banks are starting to fail because of this and the people have figured it out.

The dollar spiking is a far greater risk to the global economy than anything else. Many foreign banks took dollar loans assuming they'd be paying their debt back with a cheaper currency.

Oops.

Coming soon to Russia as well.
Meanwhile, Russian and Chinese shills are screaming that America is collapsing.

Japan it's in deep shit as well. It will get very nasty in Asia.

The Chinese are trying hard to implement the Digital Yuan to its population. But there struggling to get it mass adopted. Only 30% find the Digital Yuan as something they want to use

Pretty much China population has awaken to their corrupt leaders

The part of China the EU Banks have their hooks into, or the real China?

. . . yet Europe and North America sleep on . . .

Last Edited by Wayfaring Stranger on 06/14/2022 07:54 AM

I thought China didn't even have cash any longer?

Looks rike they’ll be eating dogs pretty soon…oh wait….

Don’t worry Trump is on the case working diligently

Trump will make banks great again

We're all in this together lol, China only a domino, grow your own food cause we're all going Zimbabwe/Venezuela

What part of it don't you understand?

This entire thread is nonsense.

1. Just about every currency in the world is already digital. It's been managed and created on a computer for decades already. Just because you can draw out a tiny micro percentage of it in physical form does not make the base underlying currency 'non-digital'

2. Chinese government could simply announce tomorrow that all people need to use a digital format and put a transition period in place. There is 100% nothing the Chinese people can or would do about it other than use it. Any real cash would be turned in to the banks and they'd be credited to an account or given a pre-pay 'cash card'

3. Sooner or later 'rechargeable cash cards' will globally replace all cash. The cash card will be able to carry multiple currencies on it.

None of this is rocket science.

What do you think the timeline is?
How long until there are worldwide bank runs?
I was thinking Sept or Oct because then they would introduce another scamdemic.
But will it happen earlier?