Today a major warning was just issued regarding the crisis in China which has turned into panic.

Crisis In China Turning Into Panic
November 13 (King World News
) – Peter Boockvar:  
There was a dramatic miss in the loan data out of China relative to expectations. Aggregate financing in October totaled 728.8b yuan, well less than the forecast of 1.3b….

To listen to 
Doug Casey’s just-released KWN interview discussing his prediction of financial and economic chaos and a panic into gold CLICK HERE OR BELOW:


Much of that was another sharp reduction in the level of lending outside the official banking sector. Actual bank loans made up 697b of the total figure and this compares with the estimate of 904.5b. The main reason for the reduced pace of lending was in the local government special bonds category along with yuan denominated loans.

SHADOW BANKING PROBLEMS: Expect More Bankruptcies
Bottom line, while bank lending was up 5% y/o/y, it’s clear that the sharp decline in non bank lending, aka shadow banking, is not getting replaced by any notable increase from banks. The Chinese government has certainly taken plenty of steps to prevent any slowdown but you can take a horse to water but you can’t…Curing a debt overhang with more debt is now becoming an obvious challenge. Expect more bankruptcies and hopefully the Chinese government will let that happen

On the Chinese balancing act, Premier Li today said in a speech:

China won’t use excessive stimulus to boost the economy as it won’t be sustainable. But China will definitely use strong measures to boost the vitality of the market.”

He also said they won’t devalue the yuan to lift exports. The market instead will likely do it for them.

King World News note:  The crisis in China is turning into a panic because of the collapse of the shadow banking system.  This has sent China’s real estate market to the edge of panic as well.  There was never a question that China was going to hit the wall because of its massive debt.  The question now is how catastrophic will the unwind be?

Eric King:  “Brett, today your company had remarkable news.”

A Company Maker
CEO, Brett Heath:
  “The Santa Gertrudis royalty has the potential to be a company maker for Metalla. The expansive 42,000-hectare property that hosts Carlin-type deposits, similar in nature to what has created some of the largest hydrothermal gold deposits in the world. This, combined with a world-class major gold producer in Agnico Eagle as the operator that has invested upwards of $100 million into the asset shows the confidence and the potential of further upside surprises like the new high-grade discovery of the Centauro Zone. With an overall strike length of 18 kilometres on the Santa Gertrudis property that has already been identified, Metalla is positioned to benefit from additional exploration success from the balance of Agnico’s 2018 drilling campaign.” Metalla Royalty & Streaming, symbol MTA in Canada and MTAFF in the US.  To read today’s remarkable press release CLICK HERE.

***KWN has now released the remarkable audio interview with London whistleblower Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.


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