Not much to see here, other than $27b leaving the mainland, compared to $4b. In case you’re worried about the fate of the the great walled nation of China, just know that they have a spare $3.1T in the bank — for reserves. Contrast that with the fact that we OWE $20T to a sundry of central banks — including China — you know who’s really screwed.
I’ve discussed this before, even as early as today. The Yuan is lower for the sixth day in the row. This is fucking boring. None of you will listen and will eventually end up in a bathtub — crying yourselves to sleep over a bottle of gin — because you’ll be flat broke.
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Fly when is TLT going to turn around??
Kyle Bass: The Cheap Crap Country’s currency is a barometer of the debt in the system. He agrees with Satan err Soros that their crap is in a “Q4 2006” situation. Says there are “syntax errors” in current views on their crappy condition. http://www.youtube.com/watch?v=kEIzRBJy2DY
Oh and his calculation for required reserves is: 10% * $2.2T + 30% * $680B + 10% * (RMB 139.3T / 6.6) + 15% * $1.0T = $2.7 trillion of required minimum reserves – http://www.businessinsider.de/kyle-bass-china-does-not-have-enough-money-2016-2