Two weeks ago, a key China-linked concern that made headlines back in 2013 and 2014 reemerged after an extensive analysis by Reuters reporter Engen Tham found that China's "ghost collateral" problem, or collateral that was either rehypothecated between two or more loans, or simply did not exist, had not only not gone away but was still as prevalent as ever if not worse.
Last summer, when the Syrian conflict was near its peak under the Obama administration, China unexpectedly warned it was ready to enter the proxy war when in a stunning announcement, Xinhua reported that Beijing was prepared to side with Syria and Russia, against the US-led alliance, and that Xi and Assad had agreed that the Chinese military will have closer ties with Syria and provide humanitarian aid to the civil war torn nation.
Authored by Daniel Greenfield via FrontPageMag.com,
After President Trump rejected the Paris Climate treaty, which had never been ratified by the Senate, the European Union announced that it would work with a climate confederacy of secessionist US states.
According to official PBOC data released two weeks ago, the Chinese foreign exchange stockpile rose by $24 billion in May, the fourth consecutive month of increases, taking it to $3.056 the highest level this year, easing concerns about ongoing capital flight and preventing a self-fulfilling prophecy of capital outflows prompting more capital outflows. There is just one problem: China appears to have lied again.
China’s dominance of the bitcoin network is incredibly concerning to the digital currency’s techno-libertarian purists, who fear that the concentration of mining power in the world’s second-largest economy is threatening to subvert bitcoin’s democratic nature. With more than half of the network’s hashing power resting in their hands, giant Chinese mining pools like AntPool, Bitmain and the other massive bitcoin-mining conglomerates can effectively monopolize control over the bitcoin blockchain.