maxkeiser.com Watch my SHOW Live (or Recorded)! www.livestream.com [Click on Video ON-Demand for my 1st Live Show] Add me as a friend on Facebook! www.facebook.com Get DAILY GrowBy10 Updates on Twitter! twitter.com A report that Chinese state-owned companies will be allowed to walk away from loss-making commodity derivative trades provoked anger and dismay among investment bankers on Monday as they feared it may set a damaging precedent. 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. While the details of the report could not be confirmed, it was Monday’s hot topic in financial circles from Shanghai to Singapore as commodity marketers feared that companies holding underwater price hedges could simply renege on the deals, costing banks millions of dollars in profit. The warning from SASAC follows a series of measures from Beijing this year to crack down on the sale of derivative products by foreign banks to Chinese enterprises, principally big consumers, who bought protection against higher prices last year only to watch the market collapse — leaving them with losses. While many companies including top airlines have come clean on the losses, some analysts fear another wave may follow. “I wouldn’t be surprised …
there is a fuckup with the sound i hear 0
@teddybear2cn yeah, fuck china!
the puppet behind the puppet is really the “federal reserve” which is not federal at all…..a private bank that prints our money for cents and sells it to us (the us government for exchange for bonds)
trust me we’re already screwed……..when people finally wake up to the biggest ponzi scheme EVER! you better buy all the gold and silver and yes chinese yuans you can……….cuz the dollar is about to crash
GO China!?!
@teddybear2cn You are Right
Most of there stuff is crap
United States only buys it cause its cheap
@sealhunter5
They have made financial slaves of us you are correct. We should not use credit, if we can’t purchase and item, save for it until you can purchase it.
And if you must use credit to purchase a large item for example a house, then never and I mean never agree to a 30 year loan or god forbid a 40 or 50 year loan that makes the banks wealthy and leaves you a pauper. The longest it should take to pay off a house is with a 10 year mortgage at most.
Stop the banks from enslaving US.
The poster below gravelandart is a racist cocksucking idiot.
ha, hillarious!
Um,
How old is that recording?
I don’t dispute what they say, but the kept repeating, “IF …. gold trades above $1,000″ Gold has been above that price for about a year now. The “ifs” are about gold trading above $2,000 now. Most peg it at $1,200 by eoy.
This is good reporting ,but I’d appreciate it if you would be honest enough to put the actual date of the talk so we can reference what Max and Stacey are talking about. Please provide proper referencing to recorded material.
Hopefully this will change to “Folding Slacks” in Prison!
This is only gonna end in two ways. real military ww3 or bilateral treaty will be signed the former will likely happen within 10-20 years. Westener hate China, vice versa. After WW3 US and China will disappeared from earth and very possibly Euro too. Africa then becomes the final human civilization.
Hey, you hate China? right? Don’t buy ANYTHING that is made by the Chinese people.
@baigandine: more recently financial crisis in the PIGS: Portugal, Italy, Greece & Spain.
@sinclair61 War is deception.
@smcoats
Fear not, we are the bad guys!
US invests with China= Fail Still a RED country. We are idiots to think they will play by the economic rules. We need to stop all investments over there.
We need to help each other! Please……
This site gives great knowledge…..
DeathOfTheDollar2010 (Dot) Blogspot (Dot) Com
your crazy
Made in china
What makes you think Europe is doing that much better than the US? France’s unemployment was 10% before the crisis…
Chinese per capita GDP is shit. China got MADE by selling to the US. The US consumer bankrolled China. The Chinese consumer is still POOR.
Won’t sell to the US? The U.S. is still the largest economy. And when China emerges…the US will be the second largest. Won’t sell to the US. Hilarious.
Remove ALL current politicians from power and replace them with reasonable people and we will not have any wars. Why would a Chinese Doctor want to kill a US doctor, equally why would an Afghani farmer want to kill a British farmer, or teacher or accountant, or Brain surgeon or engineer? Only politicians make the argument for war and their corporations/mass media push that agenda through to the masses! It´s Big Business. Pure Theft through mass murder!
nuke china? seriously? wow your soooo smart, yeah let the U.S. nuke china. and china will nuke the U.S. back & wipe the U.S. off the map. your sooo smart. bravo
Annoying Humming from your mic. Clicking back button….