China fleeing to crypto??

[Stockolio]

guy had MAGA in mind since he was in his 30's... 'retarded' not the right word... he fully understands the consequences if the Chinese leaders do the real retarded things.

but like you said the US economy is firing on all cylinders and Fed can print unlimited.. and china is already in trouble... this IS the best timing to do this trade war, to firmly establish US global dominance.

Winnie wants 1 belt 1 road, made in china 2025... stuff like that cannot be tolerated by MAGA... there cannot be co-number-ones.. need to shut China down before it's too late.

but yes, luxury goods sales etc will take a hit... perhaps that is the price to pay to put #2 in its place.

Trump isn't retarded cause of the tariffs, tariffs are great at getting point across to the commies, he's just retarded period... He has dementia and the attention span of a 5 year old. I laugh at the people worried about China's economic threats, same as the generation before me was worried Japan would overtake US economy. As my man Buffett famously said :

Only when the tide goes out, do you discover who's been swimming naked

Non Economists will soon find out the truth about China's Economy and Foreign Reserves... The bigger they are, the harder they fall!

 

[dozu888]

Trump isn't retarded cause of the tariffs, tariffs are great at getting point across to the commies, he's just retarded period... He has dementia and the attention span of a 5 year old. I laugh at the people worried about China's economic threats, same as the generation before me was worried Japan would overtake US economy. As my man Buffett famously said :

Only when the tide goes out, do you discover who's been swimming naked

Non Economists will soon find out the truth about China's Economy and Foreign Reserves... The bigger they are, the harder they fall!

lol you don't become billionaire real estate tycoon by being retarded... probably can't succeed in winning a presidential election either.

 

[luisHK]

it's likely... people are trying desperately to get money out of the country... very tight control right now over there, and crypto is one channel to get the money out...

Ain't there much control on cryptos in China ? Is it even still possible to take money out of the country that way ?

 

[dozu888]

Ain't there much control on cryptos in China ? Is it even still possible to take money out of the country that way ?

Hey you are from hongkong you should know then

Even funds going thru hongkong are being monitored closely.

Now this bitcoin move may not have anything to do with China at all. Just the timing of it makes people think so.

 

[JSOP]

it's likely... people are trying desperately to get money out of the country... very tight control right now over there, and crypto is one channel to get the money out...

desperate/panic time over there... yet we have people on these boards yelling the US is gonna lose... how? we run a deficit, how do you lose with a deficit?

manufacturing is easy to replace... cheapER labor than China all over the world... the process is already going on... part of the reason China wants to have a shift towards higher value industries hence the high demand for IPs... that's why Trump wants to shut them down.

Customers are always more difficult to find than vendors... you lose the US market, the loss maybe permanent as the supply chain will shift to source from other countries.

Not to mention, in the worst case scenario, global economic sanction is in play... Geographically, the US has military bases have China surrounded from the west, south and east.

I don't think US will go that far to impose sanctions as China really hasn't done anything seriously wrong that threatens world peace. Trump has reiterated again and again, this trade issue is business and business is business. The trade deficit between US and China is just too large and US can't ignore it anymore. The only thing left for US and actually the West is really their IP. IP is something that US and the West has invested tremendous amount of their both human and financial capital to discover, cultivate and perfect. It takes years, many times multiple generations to create an IP. That's pretty much the only thing that they are making money on and China just comes in and steals or pirates them. This is the problem with China and many eastern countries is that they don't know how to handle sustainable trade relationships. They don't know that if you want to have successful trading relationships, both you and your trading partner have to make money. You can't be making money all the time on everything and leaving your trading partner always paying you. That's not going to work. It's not sustainable.

Anyway with the crypto, I thought the government is cracking down on all of the crypto exchanges and all the crypto mining firms. Those crypto exchanges still exist?

 

[tsznecki]

it's likely... people are trying desperately to get money out of the country... very tight control right now over there, and crypto is one channel to get the money out...

Explain how they are getting the crypto with the ban still in effect for retail.

Not holding my breath.

Hey you are from hongkong you should know then

Even funds going thru hongkong are being monitored closely.

Now this bitcoin move may not have anything to do with China at all. Just the timing of it makes people think so.

So hold on, you make a claim in the first statement and backtrack in the above statement? LOL.

 

[dozu888]

I don't think US will go that far to impose sanctions as China really hasn't done anything seriously wrong that threatens world peace. Trump has reiterated again and again, this trade issue is business and business is business. The trade deficit between US and China is just too large and US can't ignore it anymore. The only thing left for US and actually the West is really their IP. IP is something that US and the West has invested tremendous amount of their both human and financial capital to discover, cultivate and perfect. It takes years, many times multiple generations to create an IP. That's pretty much the only thing that they are making money on and China just comes in and steals or pirates them. This is the problem with China and many eastern countries is that they don't know how to handle sustainable trade relationships. They don't know that if you want to have successful trading relationships, both you and your trading partner have to make money. You can't be making money all the time on everything and leaving your trading partner always paying you. That's not going to work. It's not sustainable.

Anyway with the crypto, I thought the government is cracking down on all of the crypto exchanges and all the crypto mining firms. Those crypto exchanges still exist?

Funds may want to leave hongkong.

 

[dozu888]

Explain how they are getting the crypto with the ban still in effect for retail.

Not holding my breath.



So hold on, you make a claim in the first statement and backtrack in the above statement? LOL.

Funds may want to leave hongkong. Not backtracking anything. I didn’t start this thread.

 

[luisHK]

Hey you are from hongkong you should know then

Even funds going thru hongkong are being monitored closely.

Now this bitcoin move may not have anything to do with China at all. Just the timing of it makes people think so.

Never bought a crypto in my life, don't know much about them, but read most if not all crypto exchanges in China had to close, and suspect whatever is still allowed wouldn't enable one to take money out of the country.
I know a bit more anout regular currencies' transactions, and there is most definitely less freedom now than there used to be a few years back in HK, and taking money out of China, legally or underground, has become harder as well.

 

[dozu888]

Never bought a crypto in my life, don't know much about them, but read most if not all crypto exchanges in China had to close, and suspect whatever is still allowed wouldn't enable one to take money out of the country.
I know a bit more anout regular currencies' transactions, and there is most definitely less freedom now than there used to be a few years back in HK, and taking money out of China, legally or underground, has become harder as well.

right... funds going out of HK are being monitored closely as well, but cryptos are not banned yet, so that's a possibility... speculation of course.