Discover and read the best of Twitter Threads about #bankrun

Most recents (5)

As we approach the annual pilgrimage of the Chinese elite to the resort town of Beidaihe,the world should remember what was happening in 1960 when this photo of the relaxed Mao Zedong was taken. 40,000-50,000 of his own people were starving to death daily due to this madman’s 1/5
disastrous social experiments. The so-called Great Leap Forward is,to this day, the worst man-made famine in human history. Mao’s stupidity killed 50 million Chinese. Why do today’s Chinese rank and file continue to discuss Mao with reverence when it is abundantly clear 2/5
that he was mentally disturbed and deeply evil. Mao’s atrocities killed more of his own people than Hitler and Stalin combined. As Xi heads to Beidaihe, he won’t be lounging on the beach as his idol was in 1960. He will be feverishly trying to wheel and deal to 3/5
Read 6 tweets
Bank runs are happening all over China. It’s important to note that the Chinese banking system represents 350% of Chinese GDP (on balance sheet) while the U.S. system is only 100%. One of the largest lending categories of Chinese banks is real estate…Chinese property 1/3
Developers are filing bankruptcies at a record pace. Moody’s has DOWNGRADED 91 Chinese property developers this year alone…while Moody’s had only downgraded 54 OVER THE PAST DECADE before this year’s actions. China’s banks are insolvent. The CPC is likely to brutally 2/3
suppress the bank runs in the near term as they can’t allow them to spread further. It’s not just small banks, the biggest crowd over the weekend was found at The Bank of China (one of the largest SOE banks). #China #bankrun #CPC #CCP #BankofChina #ChinaExposed 3/3
Read 3 tweets
🚨 4 banques chinoises bloquent les retraits

Ces banques de la province du #Henan ont gelé au moins 178 millions de dollars de dépôts, sans donner d'explications aux clients sur les raisons et la durée de cette mesure, laissant tout le monde dans l'embarras. #bankrun
Plus de 1 000 clients venus de toute la #Chine se sont rassemblés devant l'une de ces banques à #Zhengzhou . Les clients impactés ont organisé plusieurs manifestations et tentent de se faire entendre alors que la situation dure déjà depuis plusieurs mois.
Cette manifestation est l'une des plus importantes que la Chine ait connues depuis la pandémie. Selon des témoins, des dizaines d'agents de sécurité sont intervenus et ont traîné les manifestants dans les escaliers et ont frappé ceux qui résistaient.
Read 5 tweets
@investvoyager looks like its headed for #deathspiral because of its exposure to #3AC.

tweets about locked funds coming fast and furious right now.…
@investvoyager Looks like @investvoyager, another #DeFi (#CeFi?) "bank" like #BlockFi, has halted customer withdrawals and Twitter is freaking out. $VGX token has crashed.
more details w/r/t Voyager (@investvoyager) loan book, another crypto "bank" circling the drain because of the #3AC situation.
Read 18 tweets
A detailed thread about the whole #Celsius #Network scenario. 🧵

Worth your time! ⌛️❣️

"@CelsiusNetwork Don't let people suffer. I request you!"
Celsius operates just a #DeFi platform (unregulated bank) like any other where people can deposit their cryptos for some mouth watering returns. 🫶
Now you may wonder how Celsius is able to produce these returns to give you. They use your money to leverage into positions on other protocols. These leveraged positions are auto-cut at lose if & after a particular token dumps by certain % which increases the overall risk. 😶
Read 7 tweets

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