Mega Default In China Scheduled For January 31

[Cheryl Nelson]

http://www.forbes.com/sites/gordonchang/2014/01/19/mega-default-in-china-scheduled-for-january-31/

[Cheryl Nelson]

More cuts to Food Stamps coming.  That might do it.

[Cheryl Nelson]

China is shutting down cash transfers during spring festival Jan 31st through Feb 2nd.  See https://earthchanges.ning.com/profiles/blogs/china-halts-bank-cash-t....

[Peter S]

It may be fear to some Keith - but I think it's collapse is inevitable - IMO, it's nothing to be afraid of just to be prepared for. Another "controlled" downward manipulation will happen sometime soon - but I have a feeling the whole house of cards will need to be brought down to wipe out the cabals grip on it. The only way to retain some level of stability would be to have a control imposed higher than the cabal control and then new rules introduced and that higher control removed. And I'm not even sure that would work - it gets back to the eventual removal of money as we know it.

[Kim B]

http://www.delcotimes.com/general-news/20140123/dow-jones-plunges-1...

 

Stocks fell from the start of trading after an HSBC survey of Chinese manufacturing fell to the lowest point since July and suggested that the country’s factory sector was shrinking. Earlier this week, China reported its slowest annual economic growth since 1999.

The Dow was down as much as 232 points before trimming its loss late in the day. It closed down 175.99 points, or 1.1 percent, at 16,197.35. The S&P 500 lost 16.40 points, or 0.9 percent, to 1,828.46.

Fearful investors poured money into U.S. government debt securities, pushing the yield on the 10-year Treasury note down to 2.78 percent from 2.86 percent late Wednesday. That was the lowest since Nov. 29. Yields fall on bonds when their prices rise.

 

The price of gold, another safe-play asset, rose $23.70, or 1.9 percent, to $1,262.30 an ounce.

Worries about China also hammered emerging market currencies. The Argentine peso fell hard, and has now lost 16 percent of its value in two days, the fastest drop since the country’s economic collapse in 2002. The Turkish lira fell 1.3 percent and reached a record low against the dollar.

 

[Peter S]

Mmmmm .......