Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.
The landlords are cutting off the tab. How long 'til the eviction notice?
My advice to Generation Z -- learn Mandarin.
How about Generation Z learn English first?
Anyway...this is serious. You really have to wonder why Harpie called an election so quickly.
I would imagine step 2 is dumping the USD as the world's default currency. Some interviews I heard on Deutsche Welle today gave the impression that the many believe that the New York/London financial nexus has probably come to an end.
Fun thought experiment:
Let's say you're a big country with over 300 million, and the world's largest military.
Your people, your industry, and your military, have a demand for oil that is absolutely phenomenal.
Now lets say that other countries -- those overseas from where you get the bulk of your oil -- decide that your dollar isn't really worth it any more, and because your economy is in the shitter, you can't afford to buy the dollars that the people with the oil want.. not in sufficient quantities to satisfy your demands at any rate.
Now it just so happens that up north there's this area full of huge oil, and they're pretty good friends, so they're willing to sell to you.. except you've still got precious little to buy with.
At what point do you start looking at this massive military you've built up and go.. "Hmmm."
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