Kyle Bass says it’s a massive “can’t pay,” plus expect this to propel gold even higher and one of the reasons gold is at 6 years highs.
A MASSIVE “Can’t Pay”
August 7 (King World News) – Kyle Bass: “Chinese companies circulating at least $200 billion of IOUs as real payments dry up. The Chinese property developers are going to detonate. In an economy of $13 trillion, $200 billion is a MASSIVE “can’t pay” amount. US banks lost roughly $800 billion in financial crisis.”
To Be Clear…
Kyle Bass continues: “This piece says the number is now $675 billion. To be clear, instead of selling the USD they have in “reserve”, they use forwards to hide the real dollars running…ALA South Korea in 97-98. (See below).
What Is China Hiding?
Another Record Low
Jeroen Blokland: “The US term premium has reached a new record-low of -1.10%! (See below).
ANOTHER RECORD : US Term Premium Hits All-Time Low Of -1.01%!
It Isn’t A Currency War
Jeff Snider at Alhambra Partners: “In a nutshell, there’s your global bond yields. It isn’t currency war at all. This is the bond market understanding the difference. It’s the eurodollar’s world, we are all just trying to live here. (See below).
It Isn’t A Currency War, It’s The Eurodollar’s World
One Of The Reasons Gold Is At 6 year Highs
Stephanie Lewicky, Sr Mgr of Futures & Forex at TD Ameritrade: “You put your money in bank at beginning of year, get less back end of year. Partly reason why we are seeing 6 year highs in Gold.”…
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Expect This To Propel Gold Price Even Higher
Ole Hansen, Head of Commodity Strategy at SaxoBank: “After breaking above and then finding support at $1,380 gold has since almost reached $1,483. All of this with no help from a weaker US Dollar. Points to further gains when the eventual dollar weakness sets in.”
The KWN audio interview with Egon von Greyerz has been released and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
Gold Will Surge Another $225, Plus A Stunning Chart
READ THIS NEXT! Gold Will Surge Another $225, Another Day Another Record, Plus A Stunning Chart CLICK HERE TO READ
More articles to follow…
In the meantime, other important releases…
Expect Big Upside Moves In The Gold Market To Continue, Insanity, Plus The Chart Of The Day CLICK HERE TO READ
Michael Oliver Just Predicted This Will Crash The Stock Market And Act As A “Super Charger” For Gold CLICK HERE TO READ
As Dow Plunges 600 And Gold Surges $30, This Is Truly Amazing CLICK HERE TO READ
Greyerz – Most People Don’t Understand The Scale Of The Collapse That Is In Front Of Us CLICK HERE TO READ
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