Author Topic: China Tells International Banks: Stuff It!  (Read 3671 times)

Eyeball Chambers

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Re: China Tells International Banks: Stuff It!
« Reply #25 on: September 03, 2009, 07:14:11 PM »
Dude, RPF.

Floor paint, huh?

Well, see ya' later!

lol I don't get it?



 ???
S

andreisdaman

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Re: China Tells International Banks: Stuff It!
« Reply #26 on: September 03, 2009, 09:26:18 PM »
http://market-ticker.org

This could get nasty if true.

The State-owned Assets Supervision and Administration Commission, the regulator and nominal shareholder for state-owned enterprises (SOEs), told six foreign banks that SOEs reserved the right to default on contracts, Caijing magazine quoted an unnamed industry source as saying in an article published on Saturday.

See what lawless behavior gets you folks?

You start this crap - selling worthless paper, intentionally turning a blind eye to fraud, profiting from fraud, screwing consumers and foreigners alike and guess what?

BINGO!  A foreign government that runs a command economy says "Ok, you think that was cute?  Try this!"

For banks that are hoping to sell more derivatives hedges in China, the world's fastest-expanding major economy and top commodities consumer, the danger goes beyond the immediate risk to existing contracts to the longer-term precedent that suggests Chinese companies can simply renege on deals when they like.

Oh, so our wonderful banks have been over there peddling their junk in Beijing too eh?  Derivatives you say? 

I love it.

We reap what we sow, and may the "foreign banks" (you know this includes some nice juicy ones over here in the US) get stiffed and stuffed.

I have no sympathy - zero - for the IBs who get burned by this.

Now let's see China grow a pair of brass church bells and tell Geithner and company to stick it on their debt sales - or even better, why not sell?

If our government refuses to do the right thing and acts like Tony Soprano, then perhaps we need a bigger, badder, more powerful gang to come smack our government around a bit.


pedro01

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Re: China Tells International Banks: Stuff It!
« Reply #27 on: September 04, 2009, 12:37:11 AM »
Let's face facts here.

The US Banks took extraordinary risks. They sold products who's collapse brought the markets down. They made them that complex regulators couldn't understand them. They packaged dodgy loans in such a way that the products got the top rating.

The response of the US government ? Bail them out. No punishment, nothing. Total lack of balls.

On the other hand, the Chinese government turns around and says - "you sold us all that shit - well fuck you !" - seems like they not only cornered the market in manufacturing but also in having a set of bollocks.

Chinese - Alpha country.

big L dawg

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Re: China Tells International Banks: Stuff It!
« Reply #28 on: September 04, 2009, 05:56:19 AM »
Let's face facts here.

The US Banks took extraordinary risks. They sold products who's collapse brought the markets down. They made them that complex regulators couldn't understand them. They packaged dodgy loans in such a way that the products got the top rating.

The response of the US government ? Bail them out. No punishment, nothing. Total lack of balls.

On the other hand, the Chinese government turns around and says - "you sold us all that shit - well fuck you !" - seems like they not only cornered the market in manufacturing but also in having a set of bollocks.

Chinese - Alpha country.

agreed...not only does china have the biggest balls.they also have our balls in a vice grip.
DAWG

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Re: China Tells International Banks: Stuff It!
« Reply #29 on: September 04, 2009, 05:58:57 AM »
Let's face facts here.

The US Banks took extraordinary risks. They sold products who's collapse brought the markets down. They made them that complex regulators couldn't understand them. They packaged dodgy loans in such a way that the products got the top rating.

The response of the US government ? Bail them out. No punishment, nothing. Total lack of balls.

On the other hand, the Chinese government turns around and says - "you sold us all that shit - well fuck you !" - seems like they not only cornered the market in manufacturing but also in having a set of bollocks.

Chinese - Alpha country.

1000% Pedro - good post. 

I have had a few dealings with Chinese business people.  most are extremely honorable and live up to their word and contractual terms, but if you double cross them, fuuggeettaaboutit! 

They got screwed and are not going to pay up on this rigged bet. 

andreisdaman

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Re: China Tells International Banks: Stuff It!
« Reply #30 on: September 04, 2009, 06:48:28 PM »
So lets tell China to go fuck themselves concerning our debt.  ???

typical American...takes out credit then gets mad at his creditor and doesn't want to pay it back ;D

andreisdaman

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Re: China Tells International Banks: Stuff It!
« Reply #31 on: September 04, 2009, 06:51:38 PM »
I believe that China is half myth/propaganda and half-truth. Do you believe any of the numbers coming out of a Communist govt. ? That every single year no matter what, they magically achieve their goal of 8% growth? They are totally dependent on foreign consumption, yet even when the world is tanking and the very credit pumps that we/the world use to buy Chinese goods are dry, our incomes have dropped, huge job losses and the 'House as an ATM' bubble has burst....the Chinese still are meeting their magical "benchmark" of 8% growth. How? the Govt. pushes MASSIVE stimulus, forces banks to lend to bankrupt companies, tons of under performing loans and the list goes on. Cooking the books is def. going on.

China is a manufacturing powerhouse, but they aren't as explosive as they seem, I would go as far as to say they could be the next bubble to pop. But what indigenous Chinese manufacturing company is researching, designing and building products the world wants to buy? TV's? No. Lenovo has computers but this assembly and other low margin lever pulling....cars? No. Planes? Boeing and AirBus simply build them there. Trinkets? yes. Pencils, Pens, Happy Meal toys? yes.

Also, what will they do with the shiny new factories if they have no-one to sell the products too. And on the other side, what will they build with the factories if U.S./European companies that design/R&D these products are forced out? China does little innovation, little R&D etc, they even admitted that it will be 10 plus years before they can design a car on their own that could pass all safety/emissions tests and compete with the West. They survive on piracy and a sweatshop economy, essentially a feudal banana republic. A very important point is that their "industrial revolution" is going straight into the teeth of a terrible economic correction and a time period when oil and other precious commodities are becoming harder to find and more expense to buy.

I'm sorry about the rant, this is all my opinion, but China just isn't this huge scary monster that will devour us all. I'm not underestimating them, but I don't believe that they are invincible. No fuckin' way. >:(

Again, I welcome the argument, shred me if you will, but I'm going to take the contrary viewpoint on this.


I gotta admit you are very convincing....I kinda believe you

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Re: China Tells International Banks: Stuff It!
« Reply #32 on: September 04, 2009, 11:52:27 PM »
gigantor - very well informed post there.










your first, I believe  :D