iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,909 Blog Posts

AN IBC SPECIAL COUNT DRACULA EDITION: Saying Goodbye to China

This afternoon I visited a China antique shoppe in search for collectibles. As soon as I walked in the man who owned the store picked up the phone and started to argue with a customer, naturally about money. Inside of this den of inequity, I perused countless counterfeits and subpar goods, faux antiques and shit, of the first order.

Tonight, I preside over a coffin and in it is the entire country of China. Their indexes are sliding a calm and collective 4% tonight, a rather decent showing in comparison to last night’s -7.5% drubbing. Their index, mind you, is down 35% over the past month and it has a lot lower to go.

Why you ponder?

Because the entire dog-eating country is a fraud, corrupt vagrancy disguised as prosperity. These people haven’t the slightest idea what they’re doing. I entreat them to sell their US treasury holdings and use the proceeds to build ghost cities. But they won’t. Do you know why?

CURRENCY RESERVE STATUS.

The Empire of the United States doesn’t compete with any other nation. No one is able to hold a candle to us, due to fiscal and military supremacy. We are the greatest nation to have ever existed and our implosion will  cast tidal waves around the globe 10x over– with a pain that will be feared for thousands of years to come. People will one day talk about it and whisper the tales of when America went haywire, causing nightmares in small children and retarded adults.

Count Dracula Fly writes to you this evening to inform you that the market is irrevocably fucked for at least two years. Yes, we will play bounces and make some money on the long side  within the next week. But the great Chinese dragon is dead, leaving a trail of moronic US CEOs in their wake, scurrying about, trying to ponder how to meet earnings estimates for 2015.

They will not.

The deflation is real. Only a complete reset of the system will make things like they were. Until then, we’ll be stuck in a vortex that grinds us into flakes. Oddball currency crosses between the euro, dollar and yen will continue, assuring that a completely new set of speculators get fucked on a daily basis. The very best hedge fund managers will go away, like China, never to be heard from again. If you’re not careful and faithful to the “do no harm doctrine”, you too will be fucked, the reader, reduced to traveling hobo about the trains–begging for scraps of bread and hot water laced with hallucinogenics.

But you wait for the dip buying opp. In the meantime, the Chinese stock market experience will continue to delight the Devil, thrusting submentals into action in a purblindly and harmoniously methodical, intoxicating waltz, reminiscent of the actions of better men, American men, in 1929.

Morton’s fork.

Sleep well and good night.

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24 comments

  1. the profit

    Nice try bro — I think the morning glory store on Nassau is run by a korean.

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  2. UncleBuccs

    Maybe the People’s Republic will announce tomorrow they’ve appointed Dr. Benjamin Bernanke as Minister of Finance….and everything will be ok…

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  3. og

    Don’t worry Shanghai is going positive now.

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  4. trashman

    All is well for now. You are overreacting a tad

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  5. it is showtime

    “3 DAYS HENCE” HIGHER

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  6. braveflaps

    China – the very gayest of dragons.

    RIP

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  7. mrprawn

    I don’t don’t usually time the markets, but when I do, I prefer to see blood in the streets. By the way, two years is but a blink of the eye considering my expected life span of 10,000 years. Don’t lose perspective Fly.

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  8. alf44

    .

    FEEL THE “VERNE” !!!

    .

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    • alf44

      .

      Sometimes “we” tend to over think stuff !!!

      Sometimes … the “answer” is as plain as the “nose” on your face !!!

      Tune out CNBC … Tune out Cramer … Tune out ALL that noise !!!

      Charts have been damaged !!!

      BADLY !!!

      I’m “SHORTER than TROYER” !!!

      .

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  9. therealmrburns

    Short term long SPY set-up (Max 3 days hold): 13-1, Profit Factor 122.

    EEEXCELLENT!

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  10. ironbird

    Sounds like selling the ultimate China was a fucking mistake names into a collapsed railroad tunnel is a good idea. $SBUX is bloated on fried shark fin and they drink tea for gods sakes.

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  11. blahblahblah

    i love a feel good story

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  12. t.c.

    Fly for your picture game:
    http://en.people.cn/n/2015/0824/c90000-8940896.html

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  13. blahblahblah

    ???????? osl? ??o? p??u ?

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  14. airborne

    I lived 11 years of this century in Thailand, soon to become a province of China and be slapped around by the Han. After a few years of reading local news and media reports from Thailand’s neighbor I became shockingly aware of the depths of selfishness the Chinese are willing to visit for a yuan. Some of you may remember the baby milk contamination scheme that resulted in the execution of an executive in a desperate attempt to save Chinese face. Did word ever reach the USA that surviving executives rounded up out of work Fuller Brushmen to go door to door at universities selling leftover cartoons of milk that were banned from store shelves? Management opined that college students are stronger and won’t be harmed by melamine poisoning. My other favorite is how the Mekong slowed to a trickle just south of the Chinese border as the government needed all the water to fill a dam. Sneaking out of my rice paddy bunker at night I sent missives to the FLY reporting that Chinese were not to be trusted and the FLY ignored my warnings at his own peril. So, I reach out now from Florida to slap the FLY’s mustache and let you know that the FLY is several years late with his warning. I have been Chinese burrito free for many years and have slept the better for it.

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