Thursday, June 20, 2013

Is this China's Lehman?

Here Is What's Going On In China: The Bronze Swan Redux

In brief (pun intended): a complete, unpredictable clusterfuck accompanied by wholesale liquidations of "liquid assets", deleveraging and potentially a waterfall effect that finally bursts China's bubble, all due to a simple black swan. Although, in reality, nobody knows. Just like nobody knew what would happen when the government decided to let Lehman fail.

So... is this China's Lehman?

http://www.zerohedge.com/news/2013-06-20/here-whats-going-china-bronze-swan-redux

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Bank Of China Denies Default

[Nothing to see here... move along.]

http://www.zerohedge.com/news/2013-06-20/bank-china-denies-default

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